XRP hasn’t been excluded from the recent rally in the cryptocurrency market.
From its lows in March of $0.11, the second-largest altcoin has gained over 100% from the lows. As Bitcoin topped $9,400 last week, XRP topped $0.23, showing strength after a macro downtrend.
This strength recently allowed XRP to surpass its 50-day simple moving average. Normally, this would be seen as a decisively bullish sign, as this level is often regarded as a “line in the sign.”
XRP price chart with the 50-day moving average from TradingView.com
Yet, analysts say that there is a confluence of technical and on-chain metrics that suggest the cryptocurrency is not yet bullish. Far from.
XRP’s On-Chain Data Signals Caution
Josh Olszewicz, a crypto analyst at Brave New Coin, recently released an extensive video analysis on XRP.
He found that the on-chain outlook for the large cryptocurrency is currently looking far from good.
Both average transaction volumes and the number of active addresses on the XRP ledger have decreased since 2018’s highs. Simultaneously, XRP’s NVT, a ratio used to determine the economic activity of a network, has trended lower.
This confluence led Olszewicz to the conclusion:
“Despite the numerous RippleNet partnerships and announcements over the past several years, on-chain metrics do not show a sustained increase in activity.”
In a similar vein, a report by eToro and The TIE found that XRP’s social media community has shrunk at a rapid pace.
Over the first quarter of 2020, the two firms observed that the number of Twitter users “discussing” the cryptocurrency fell by 16% while the asset declined by 9.51% during the same time frame.
To add to this, data shared by a crypto trader indicated that the number of individuals in the Ripple Telegram channel has seen a 63.89% loss in members since June 2018, falling from 64,525 members to 23,299.
Watch Out Below, Analysts Fear
Adding to the bearish on-chain case, analysts believe XRP is currently in a bad position technically speaking. This comes in spite of the aforementioned 50-day moving average reclamation.
Per previous reports from Bitcoinist, a trader wrote that XRP’s price action is “looking super weak” despite the recent recovery:
“Price action can’t even close back inside this marked range […]. Still have a little while until the weekly close but right now, I would not be taking a fresh long position. […] A pullback to $0.18 next?” The analyst wrote, referencing the chart below.
Chart from TheBlockExperience newsletter
This bearish sentiment was echoed by the head of technical analysis at the crypto research firm Blockfyre.
He noted that XRP is currently below a key range low against Bitcoin. This range low marked the bottom of every drop for the past year. Should XRP/BTC fail to “quickly reclaim” that level, where “it has spent the last 274 days,” a 40% drop to 1,500 satoshis could transpire, he warned.
“Breaking down the range lows with the first weekly close below where it’s spent the last 274 days. You’d have to expect the equal lows at the very least to be taken out at this point. Failure to reclaim quickly could lead to 1500 sats,” the analyst said.
Photo by Markus Spiske on Unsplash origin »
Two years ago, as Bitcoin inched closed to the $20,000 valuation, several altcoins joined the rally. None more so than XRP, the premier payments-centric cryptocurrency enjoyed a massive high in late-2The post XRP at crossroads: 30% uptick or gloomy lows of $0.14? appeared first on AMBCrypto.
Ripple price is struggling to recover above the $0. 2200 resistance area against the US dollar. The price remains at a risk of more downsides below the $0. 2180 support area. There is a declining channel forming with resistance near $0.
XRP has had a rough 2019, with the embattled cryptocurrency setting fresh yearly lows just in the past several weeks with its drop down to $0. 20. This bearishness has led XRP to be one of the worst performing major cryptocurrencies in the markets over this past year, and it does appear that further losses could.
Bitcoin has been incurring some decent upwards momentum in the time since it visited $6,500, which has allowed major altcoins like XRP to similarly put some distance between their current prices and their recent lows.
Bitcoin's recent fall led to the top cryptocurrencies losing significant value. As the downward trend continued to persist, XRP suffered the least damage. Still trading in its yearly lows, XRP was priThe post XRP's breach of descending channel could drive price up appeared first on AMBCrypto.
Prior to August, 2019, XRP had only touched as low as the $0. 25 mark in September last year. Since August, however, XRP has been unable to cross above the $0. 32 mark, trending mostly between $0.
After a brief attempt to climb above its strong resistance level at $0. 30 earlier this week, XRP faced a strong and swift rejection and is now moving down towards its monthly lows that currently sit around $0.
After an uneventful week, Bitcoin has once again fallen below the psychological $9,000 mark posting a 4. 5% decrease on the day. Altcoins managed to resist so far and generally show better performance than BTC.
XRP has been one of the big winners of Bitcoin’s recent bout of consolidation, as the cryptocurrency has been able to surge significantly over the past several days and weeks, putting some notable distance between its recently lows $0.
Bulls are finally back. After a few days of bearish price action, Bitcoin (BTC) has bounced higher, rallying from Saturday’s $7,900 daily lows to $8,175 as of the time of writing this piece.
With altcoins like Ethereum and XRP at extreme lows, and Bitcoin now falling, the entire crypto market is at risk of falling deeper into a bear market. But if an important long-term technical indicator on Ethereum price charts flips bullish in the coming days, Ethereum may break above resistance, causing price to surge and the.
Ripple did it again. In the middle of a controversy sparked by its consistent sales of massive chunks of XRP, the San Francisco based startup released 60 Million XRP worth over 15 Million Dollars.
Amidst the crypto rout that has seen bitcoin hit three-month lows, the XRP price is swimming against the tide. In the last 24 hours, the no. 3 cryptocurrency has registered gains of 7%. Per CoinMarketCap, XRP has appreciated by roughly 7% to reach $0.
Ripple and its coin, XRP are struggling mightily these days. Of course, there is a market wide sellout and general sentiment is near all time lows, but the situation is especially tense around XRP.
Bitcoin’s massive drop yesterday sent shockwaves throughout the aggregated crypto markets, leading most major altcoins – including XRP – to plummet to fresh post-2018 crash lows, which may signal that the rest of 2019 will prove to be bearish for the crypto markets.
Weekly active addresses have decreased substantially since January 2018, and are currently sitting at a multi-year low. Weekly active addresses can be a key indicator for demand.
The altcoin market has been bleeding out for what feels like forever now. The selloff has picked up in severity in recent weeks, but first started back at the start of 2018 when the crypto bear market first began, and Bitcoin price crashed, bringing down the rest of the market with it.
Despite the bullish impulse seen across the entire market since mid-December 2018, XRP has been making lower lows without showing any signs of prompt recovery. In fact, while Bitcoin is up 230 percent from the low of December 2018, this cryptocurrency is down 5 percent.
Earlier this past week Ripple (XRP) along with the aggregated crypto markets faced an incredibly sharp sell-off that sent XRP reeling down to lows of $0. 25, which marked a significant pullback from the mid-$0.
Bitcoin is in the spotlight once again after Bakkt was granted the first approval from the CFTC for physically-settled Bitcoin futures. As the pioneer cryptocurrency takes the attention from the market, most of the altcoins have been left behind even plummeting to new yearly lows.
Nevertheless, XRP price has reached the oversold region of the market and buyers are expected to emerge. The bulls have broken above the EMAs to reach the bullish trend zone. The XRP price is making a series of higher highs and higher lows.
On the downside, it was assumed that if the bears broke the $0.38 price level, the XRP price would revisit the previous lows of $0.32 and $0.34 price level. The XRP price is below the EMAs which indicates that price may still fall to the previous lows of $0.29 or $0.30. XRP/USD Medium-term Trend: Ranging […]
Despite the recent partnership with MoneyGram, XRP has had meager gains. However, it has rewarded its holders with 5% surge from its recorded lows of $0. 376. This rapid bullish movement was seen earlier today after a viral post on the American Express website that mentioned global payments.
Much to the chagrin of XRP investors and enthusiasts, Ripple’s price has been somewhat stagnant over the past few months, rising to recent highs of just below $0. 50 from its year-to-date lows of below $0.
When it comes to the top ten cryptocurrencies by market cap, few of the frontrunners of the emerging asset class have performed as poorly as XRP – the crypto token often referred to as Ripple. Since bear market lows were set in most digital assets, they’ve since gone on to surge as much as 300%.
On the downside, if price breaks below the $0. 38 price level, the market will fall and reach the lows of $0. 30 and $0. 32 price level. On the other hand, if the $0. 38 price level holds, the crypto will continue its range bound move between the levels of $0.
On the downside, if the bears break the $0. 36 price level, the market will further depreciate the lows of either $0. 30 or $0. 32 price level. However, if the bulls break the $0. 42 resistance level, the price will revisit the previous price level of $0.
Ripple (XRP) up 27. 3 percent Brad Garlinghouse says Ripple ready to work with banks and regulators In an interview with Recode Decode podcast, Brad Garlinghouse once again reiterated their will of working with regulators and not against them.
Ripple (XRP) up 27. 3 percent Brad Garlinghouse says Ripple ready to work with banks and regulators In an interview with Recode Decode podcast, Brad Garlinghouse once again reiterated their will of working with regulators and not against them.
The markets have wrapped up a volatile week which saw the market leader Bitcoin record lows of $6180 and highs of $8390. XRP has spent the majority of 2019 consolidating around $0. 30. Numerous Doji candles at $0.
Ripple (XRP) react from 30 cents, add 8. 1 percent Supportive fundamentals would likely fan the next wave of higher highs At long last, Ripple (XRP) is responding. Because of bullish fundamentals, there are a series of higher highs in the daily chart that hint of increasing demand in lower time frames.
On the upside, if the support of the 26-day EMA holds the crypto’s price will resume its bullish trend to retest the $0. 32500 and $0. 33 resistance levels. If the XRP price falls, it will fall and revisit the previous lows of $0.
Over the past several months many cryptocurrencies have incurred relatively large gains that have put a significant amount of distance between their current prices and their 2018 lows. But much to the chagrin of investors, Ripple (XRP) has not been one of these cryptos, as it has remained relatively stable around the $0.
Ripple’s lackluster price action over the past several months has left many XRP investors with a feeling of disappointment as it remains stagnant while Bitcoin and other large cryptocurrencies incur large gains that have put a significant amount of distance between their current prices and their recent lows.
Ripple (XRP) recover after Apr-24 hammering Bitstamp reminds users of Ripple’s decentralization strategy Critics claim Ripple (XRP) is nothing more than an “airdrop” whose absence wouldn’t affect operations.
The past several weeks have been overwhelmingly positive for the crypto markets, with Bitcoin finding its footing in the lower-$5,000 region and many altcoins putting a significant amount of distance between their current prices and their 2018 lows.
Ripple prices up, reacting from 32 cents Money Tap blow, Resona Bank discontinue participation Resona Bank is pulling out of Money Tap initiatives, a project fronted by SBI Group. All the same, prices are stable above 32 cents, reversing from Apr-2 lows and with increasing momentum, may close above 34 cents as bulls shore prices.
On the upside, the bulls are expected to break the EMAs as price tests the low price level. On the downside, the crypto’s price will fall to the lows of either $0. 28 or $0. 29 if the $0. 30 price level does not hold.
Ripple prices consolidation XRP Army a blend of phony accounts and bots Transaction levels lows and averages more than half that of Feb 24 and 25 Geoff Golberg, an independent researcher with the application of Network analysis on social and blockchain data is confident that the harassing XRP Army consists of fake accounts and bots.
Ripple price failed to gain momentum above the $0. 3150 resistance and declined against the US dollar. The price is now trading well below the $0. 3140 resistance and the 100 hourly simple moving average.
The XRP price is trading at $0. 32 as at the time of writing. The bears break below the EMAs which indicates that the crypto will depreciate to the lows of either $0. 30 and $0. 31. XRP/USD Medium-term Trend: Bearish Resistance Levels: $ 0.
Gravitating towards lows, crypto asset prices may be stuck in the winter. Luckily, it is localized and days after announcing their support for Litecoin and DASH, Spend. com now supports XRP. XRP is the native currency.
Ripple price stable, reject lower lows IMF proposes a duo cash system with virtual currencies and cash in circulation Transaction volumes low, likely to spike as prices recover Finally, IMF economists agree that there is a way governments can incorporate virtual currencies in their economies.
Many top cryptocurrencies including Ripple’s XRP formed their 2019 lows yesterday. XRP reached a low of $0. 28 yesterday and is following up today with a significant spike which has brought it over two expected resistance levels.
Ripple price stable, reject lower lows Cobalt could be a game changer Transactional volumes below average Behind Ripple is a team looking to revolutionize cross border payment through innovative solutions.
Ripple price down $1 billion in 24 hours The aim is to replace SWIFT and dominate the cross-border fund transfer space Transaction volumes low as XRP prices correct The truth is, Ripple has a long way to go, and as XRP prices correct, retesting Dec 2018 lows of 30 cents, we remain net bullish.
XRP stood firm as crypto markets took a beating on Tuesday. Most coins fell hard, but XRP avoided hitting new lows. Market watchers now wonder if the altcoin might recover faster than other cryptos.
Renowned trader and market commentator Jacob Canfield (@JacobCanfield) has identified XRP as the standout performer among altcoins, sharing a price chart on X that underscores the token’s recent momentum.
Analysts continue to believe in the potential price surge of XRP, predicting that it is still feasible that the crypto will hit the $3 mark. Related Reading: No Sweat! Dogecoin Will Hit $5 ‘Very Easy’ In 2025 – Analyst A market observer even claimed that XRP is on track for a massive price rally in the ongoing digital asset bull market as many cryptocurrencies are hitting all-time highs due to the positive outlook on the industry.
The XRP price recently surged to a three-year high of $1. 6, marking a significant milestone in the cryptocurrency’s recent bullish rally. This remarkable price movement has garnered the attention of many analysts as investors continue to project the trajectory of the price.
Crypto analyst Dark Defender (@DefendDark) has issued a bullish forecast for XRP, projecting a price surge above $5. 85 based on a confluence of technical indicators and chart patterns. Despite recent market stagnation, the analyst highlights several key factors—including the application of Elliott Wave theory—that suggest a significant upward movement is imminent.
On-chain data shows the XRP whales have been making deposits to exchanges recently, something that could be bearish for the asset’s price. XRP Whales Have Made Several Large Moves In The Past Day According to data from the cryptocurrency transaction tracker service Whale Alert, several large moves have been spotted on the XRP network during the past day.
On-chain data shows the total number of sharks and whales on the XRP network has seen a sharp increase recently, a sign that could be bullish for the asset’s price. XRP Sharks & Whales Have Witnessed Their Count Go Up Recently According to data from the on-chain analytics firm Santiment, the shark and whale wallets have registered a notable jump over the past five weeks.
