While XRP is one of the most popular projects in the space, it has been one of the worst performing large-cap cryptocurrencies since the 2018’s highs.
Even after the recent rally in this nascent market that saw most digital assets double in the span of six weeks, XRP is down by over 94% from its all-time high established on Bitstamp in early 2018. And in March, the asset was trading at three-year lows.
Macro XRP price chart from TradingView.com
While some have argued that this crash is indicative of an impending rally back to the highs, analysts remain largely bearish on a long-term time frame on the altcoin.
XRP Could Soon See An Even Greater Crash, Some Analysts Fear
A prominent trader recently shared the chart below, indicating that XRP’s macro price chart looks eerily similar to that of another altcoin, Waves.
Like XRP (seen right), Waves saw a vertical rally, a blow-off top marked by a large wick, then a large decline lower in the months that followed. According to the trader’s chart, the fractal playing out will mean that the cryptocurrency will plunge well under $0.10, potentially back under a penny, where XRP spent much of its earlier life.
Chart from “il Capo of Crypto,” a prominent crypto trader.
The trader that shared this chart has a solid track record that should not go unnoted. Early this year, for instance, he called for XRP to fall to the $0.13 range and for Bitcoin to enter the $3,000s months before it happened during March’s crash.
Adding to the bearish confluence, one full-time crypto trader shared the chart below, saying that not only has XRP been “down-trending” for 851 days, but it also just fell below a crucial monthly support zone:
“Looking at it from an investor perspective, [fundamentals are] not an excuse to invest in an asset that has been down-trending for 851 days and lost key monthly support/resistance level,” the trader explained.
Price chart from @FeraSY1, a prominent crypto trader and engineer.
All Altcoins Are Poised to Suffer
It may feel like XRP is being singled out, but this isn’t the case: prominent analysts are growing bearish on all altcoins.
Per previous reports from Bitcoinist, prominent stock commentator Steve Burns recently asserted that “99.9% of altcoins are going to $0 [… over a] buy and hold timeframe.” Burns, backing this strong opinion, cited the fact that most leading altcoins, including XRP, are down dramatically from their all-time highs. He added that “they have zero value,” in reference to the intrinsic value of altcoins.
This was echoed by Kevin Rose, co-founder of Digg and a general partner of investment firm True Ventures. Rose, who led Google Ventures’ investment in Ripple in 2013, told TechCrunch in a recent interview that he thinks most crypto projects are “garbage”:
“The problem is that 99% of the projects out there and a lot of the people who are behind them are just in this for the pure financial gain. And there’s a lot of garbage out there. And that’s unfortunate because it really drags down the high-quality projects, and it muddies the space quite a bit.”
Related Reading: ANALYST WHO RECOMMENDED BITCOIN AT $5: BOTTOM IS IN AFTER MARCH’S 50% CRASH
Featured Image from Shutterstock origin »
Ripple’s XRP has reached a major milestone, almost touching the $3 mark for the first time since 2018, signaling a significant price surge for the token. The coin has surged more than 15% in the past 24 hours, continuing a rally that began after a recent pullback.
XRP’s Bollinger Bands have reached their tightest levels ever, tighter than before its historic 60,000% rally that ended in early 2018. Tony “The Bull” Severino, a Chartered Market Technician, highlighted this development in his tweet lately.
За последние два года альткоин XRP показал один из самых худших результатов из топовой десятки криптовалют. Монета с начала 2018 года обвалилась в стоимости на 94%. Уже в марте этот актив находился на трехлетнем минимуме.
Ripple (XRP), третья крупнейшая криптовалюта по рыночной капитализации, упала до самых низких значений за 2018 год. Впервые с декабря прошлого года курс монеты оказался ниже $0.27.
After a difficult week in the virtual currency world, XRP had arranged some important partnerships to keep increasing its presence in the market. On August 13, 2018 Mark Binss, CEO of Netcoins, an important Virtual Bitcoin ATM provider for retail stores, informed that they listed XRP on their trading platform. That means that individuals from […]
FOMO Moments Another 2018 low is hit, Ethereum, XRP, Neo and Iota getting hammered The rout has continued into the weekend as crypto markets plummeted to another low for the year. Another $20 billion has been dropped from markets as they slid below $210 billion for the first time in nine months.
XRP/USD Medium-term Trend: Bearish Resistance Levels: $0. 30, $0. 31, $0. 32 Support levels: $0. 28, $0. 27, $0. 26 The XRP price was in a bearish trend from the beginning of August 2018 with an opening balance of $0.
Price wise, the week has not been kind to altcoins. XRP, EOS and Bitcoin Cash registered new 2018 lows after dropping below key support lines while Stellar Lumens sellers did sink below 22 cents nullifying our previous bullish positions.
Ведущая криптовалютная биржа Bittrex, объявила, что с 20 августа 2018 года они запустят XRP и Ethereum Classic в паре с долларом США. Это часть поэтапного подхода биржи к обеспечению всех цифровых валют на платформе парой с долларам США.
Get ready – we’re adding more US dollar (USD) markets on @BittrexExchange. On August 20, we’re launching USD (fiat) markets for ETC & XRP. https://t. co/UVlW4g2B1h
— Bittrex (@BittrexExchange) 8 August 2018
Industry leading cryptocurrency exchange, Bittrex, have announced that as of the 20th of August 2018, they will be listing the exchange of XRP and Ethereum Classic against the US Dollar.
Криптовалютная биржа Bittrex с 20 августа начнет поддерживать торговлю токенами Ethereum Classic (ETC) и XRP в парах с американским долларом. Get ready – we’re adding more US dollar (USD) markets on @BittrexExchange.
Whether Bitcoin and other altcoins are finding support or not, we still hold a bearish inclination as far as XRP prices are concerned. It’s all because of simple reasons. First, there is a close below 45 cents and 2018 lows and secondly, Bitcoin (BTC)-which anchors most coins is also struggling to stay afloat. Both of […]
The markets are falling hard today. We are seeing all major cryptocurrencies falling at a rapid rate, way down from their values over the previous 24 hours.
We aren’t worried about this though.
The price of XRP, the world's third-largest cryptocurrency by market cap, fell to a new 2018 low, together with Litecoin price. Despite adverse movements, XRP is supported by investors being accepted as a payment method by Bitcoin Superstore.
Its August 2018. Ripple have certified that their currency, XRP is a cryptocurrency not bound to them by rebranding XRP, as XRP. Ripple are riddled with lawsuits and Coinbase still won’t list XRP.
Владелец счета, на котором с ноября 2015 года хранился 1,08 млрд токенов сети Ripple, ликвидировал очередные 10 млн XRP на общую сумму около $5 млн. Такие данные привел пользователь форума XRPChat под ником corak, который следит за динамикой этого счета с начала 2018 года, сообщает Trustnodes.
Thank you for such a warm welcome to the #XRPCommunity!
We are excited to accept #XRP directly on our website and help push #cryptocurrency adoption!#xrpyarmy $XRP @Ripple pic.
An XRP account, which once had some 1.08 billion XRP, has sold another ten million today according to unverified reports, worth circa $5 million. An XRP veteran compiled the movements...
The post Bearwhale Sells Ten Million XRP, 800 Million XRP Sold So Far in 2018, 200 Million Left appeared first on Trustnodes.
Coinbase Custody is expanding its custodial services to include dozens of additional crypto assets, like XRP, EOS, and Monero. Coinbase is enhancing the custodial services to allow its institutional clients to securely store large amounts of cryptocurrencies.
The Bitcoin (BTC) market has had a bearish week in which the value of the token dropped over 1k to around 7000 USD at the time of writing this article. Many attribute this drop in prices to a market reaction after the SEC decided to deny the Winklevoss twins’ request for a Bitcoin ETF.
While India remains a no-go area for bitcoin and other cryptocurrencies, Ripple Labs, the developer of XRP, is busy making inroads into the Asian nation, as per a report on August 2, 2018. Ripples Everywhere According to an FXStreet, the State Bank of India (SBI), the country’s institutional banking authority, is set to start facilitating instantaneous cross-border payment solutions with Ripple.
Following a disastrous security breach in June that led to losses of more than $30 million, Korean cryptocurrency exchange giant Bithumb has announced that it is set to resume deposit and withdrawal services on its platform.
Blockchain payment platform Ripple (XRP) released its 2018 second-quarter report last week, commenting on token supply, market forces, and product development. Ripple has weathered the bearish market earlier in the year well, remaining one of the top cryptos in terms of market cap.
Ripple (XRP) has been a true investors’ favorite for much of 2017 and early 2018. The weekly chart above for XRP/BTC shows that Ripple (XRP) reached its first high in May 2017 and its second high in January 2018.
Tweet Of The Day If someone mentions IoT, Big Data, Machine Learning and Blockchain in a single conversation, run as far as you can and never look back. – @umarsaif BITCOIN (BTC) | -2. 43% | $7,614.
AlphaPoint, a cryptocurrency firm, officially announced the launch of DCEX on July 30, 2018. DCEX is a decentralized exchange platform aimed at retail and institutional investors and runs solely on blockchain technology provided by AlphaPoint.
Tweet Of The DaySchool: Answer is either right or wrong when submitted, and can’t be revised. Life: 99% of value is from iteration toward correctness after initial attempt. –@EricJorgenson BITCOIN (BTC) | -4.
Top Cryptocurrencies August 2018 Outlook Bitcoin price enjoyed a decent uptrend in July 2018 and traded towards $8,500. However, altcoins like ETH, XRP, BCH, EOS, XLM, TRON, ADA, LTC and DASH struggled to gain bullish momentum and declined.
Cory Johnson is the Chief Market Strategist at Ripple and he joined the company back in March, 2018. Prior to Ripple, Mr. Johnson worked at Bloomberg TV primarily covering technology on both TV and Radio for Bloomberg.
TransferGo, a remittance service based out of London, announced on July 27, 2018, that it would provide a platform to its customers to trade cryptocurrencies including bitcoin, ether, bitcoin cash, XRP, and litecoin.
Why Cardano is a Better Investment Than Ripple and Litecoin Of late, most of digital currencies have been increasing in value, with Bitcoin making the most significant leap. As a result, many of crypto investors have started speculating on which asset has the highest potential.
Charlie Lee, the founder of LTC, has compared BTC and XRP to it recently in an interview for the Chinese media. During the interview, he also spoke about why he decided to sell his Litecoins. The interview was made during the Asian Blockchain Summit 2018, which was held in Taiwan recently. Selling Litecoins Was A […]
In an interview for the Chinese website Jinse. com, Charlie Lee, founder of Litecoin spoke about his vision regarding cryptocurrency, the comparison between BTC, LTC, and XRP, as well as the reasons why he decided to sell his Litecoins.
Blockchain-based payments processor Ripple release its Q2 2018 “XRP Markets” report, detailing the developments in the use of its native digital token XRP. Ripple Explains XRP Price Action Released on July 24, 2018, the report claimed Ripple Labs accounted for only 0.
Cryptocurrency wallet and card provider, Wirex, added a Ripple (XRP) wallet to their portfolio on July 23, 2018, making the London-based company among the few to offer XRP tokens for accessible public use.
Blockchain-based payments startup, Ripple, released its Q2 2018 report on July 24, 2018, detailing several insights into the company’s performance. The report shows, among other things, that the company sold $75.
Ripple (XRP)–Ripple, the blockchain startup parent company that created the XRP cryptocurrency, has released somewhat disappointing figures for the second quarter of 2018. Ripple holds a vast amount of the total supply of XRP in an escrow account that will not be fully paid out for the next several years.
Продажи XRP упали на 54% по сравнению с первым кварталом этого года, однако клиентская база компании Ripple продолжила расти. Об этом говорится в квартальном отчете калифорнийского стартапа. Volatility? What volatility? https://t.
In comparison to the overall crypto market fall, Ripple considers this to be its best performance in Q2 so far. The company also boasts on adding new customers to the XRP ecosystem.
The post Ripple Releases Q2 2018 Insights, XRP Sales Drop Over 50% appeared first on CoinSpeaker.
Популярная британская платформа онлайн-банкинга Wirex добавила в листинг криптовалюту Ripple (XRP). . . You asked, we delivered 🚨 Wirex #XRP Wallets are here!🚨 Everything you need to know: https://t.
Блокчейн-стартап Ripple опубликовал финансовый отчет за второй квартал этого года, из которого следует, что хотя по количеству новых клиентов компания показала лучшие результаты в своей истории, продажи XRP за данный период упали почти на 55% по сравнению с первыми тремя месяцами 2018 года: с $167,7 млн до $75,53 млн.
By Cory Johnson & Miguel Vias Ripple sells $75. 53 million in XRP amidst low volatility in Q2 2018 $75. 53 million XRP sold Ripple sales volume accounted for 0. 125 percent of global XRP volume Three billion XRP released out of cryptographic escrow, 2.
Tweet of the Day buy the rumor, sell the ETF – @CarpeNoctom Top Cryptos By Market Cap BITCOIN (BTC) | 6. 76% | $8,206. 35 ETHEREUM (ETH) | 1. 96% | $471.
The signs and signals in the crypto-markets are indicating a resurgence of Bitcoin (BTC) to past glory as witnessed in the second half of 2017. By the end of July last year, The King of Crypto was valued at $2,700.
THE DAILY BIT Tweet of the Day $eos raised ~$4,000,000,000. If they used $1 million every month, then that will last 4,000 months or 333 years. – @BennettTomlin Top Cryptos By Market Cap BITCOIN (BTC) | 2.
XRP has been on a consistent downward trend since the beginning of the just concluded week. A steady flow of consecutive bearish candles on the daily timeframe has pulled the price lower each day, eventually guiding it toward an important support at the time of writing.
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.
