Ripple (XRP) price at risk of rotating lower in November

Ripple (XRP) price at risk of rotating lower in November
фото показано с : invezz.com

2020-11-7 18:38

Ripple (XRP) price has failed to stay above $0.26 which is likely to invite more selling pressure in the coming week.

Fundamental analysis: XRP volume soared by more than 100% in Q3

Ripple posted its Q3 report in which it said the average daily XRP volume surged by over 100% to $403.58 million from $196.28 million in the second quarter, indicating a substantial spike in network usage and the increasing adoption of its On-Demand Liquidity (ODL) payment solution.

Furthermore, Ripple reported total XRP sales of $35.84 million, over 10% more than $32.55 million. The company said it’s entirely concentrated on over-the-counter (OTC) sales and leases as part of offering enough liquidity to particular ODL customers. 

Ripple issued around 3 billion XRP for sale in the third quarter, of which 2.4 billion XRP have found their way back to the deposit account. Ripple decided to freeze 55 billion XRP in an escrow account back in December 2017 and issue 1 billion XRP for sale every month.

The crypto community has voiced their concerns regarding this measure a couple of times in the past as they believe this is one of the reasons behind XRP’s average performance, but Brad Garlinghouse, CEO of Ripple as well as a few other officials said that Ripple doesn’t hold the power over the price of XRP.

The company also introduced a new service Line of Credit, which allows RippleNet users to raise money on demand. In other words, the users will be able to quickly raise capital in the form of XRP. Line of Credit is still in its beta phase and has been provided only to particular ODL customers.

In order to facilitate stable market growth, Ripple has bought back large amounts of XRP, a measure which Ripple claims has triggered market growth and adaptation.

Technical analysis: XRP fails at resistance

XRP/USD price is trading about 1.5% lower today despite a huge push higher from Ripple buyers earlier today to print a fresh 2-month high above the $0.26 mark. This area hosts a key resistance zone in the short-term, consisting of the 200-DMA and horizontal resistance. 

XRP/USD daily chart (TradingView)

A big bearish daily candle that is in the making is likely to make XRP more vulnerable in the short-term. A rotation lower is likely to follow if XRP/USD closes near current levels as $0.2480 offers nearby support. 

Summary

Ripple said its average daily XRP volume surged by over 100% in the third quarter, while total XRP revenue excluding purchases stood at $35.85 million for the last quarter, up 10%.

The post Ripple (XRP) price at risk of rotating lower in November appeared first on Invezz.

origin »

Ripple (XRP) на Currencies.ru

$ 2.1811 (+0.09%)
Объем 24H $2.052b
Изменеия 24h: -0.92 %, 7d: 6.72 %
Cегодня L: $2.1649 - H: $2.2039
Капитализация $127.472b Rank 4
Цена в час новости $ 0.2495 (774.19%)

xrp ripple 100 price volume analysis soared

Источник: invezz.com

xrp ripple → Результатов: 126


Ripple (XRP) price expected to hit $3 in coming days but traders look toward this XRP rival for greater gains

XRP from Ripple experienced a 7% value increase in the last 24 hours, which created new positive market feelings because experts predict it will reach $3.40. Technological indicators show a crucial market inflection point because the token’s 4-hour resistance barrier has failed and the appearance of a Golden Cross pattern on the Relative Strength Index […]

2025-3-9 08:45


Ripple разблокирует 1 миллиард XRP 1 февраля

Компания Ripple, разработавшая реестр XRPL и выпустившая токен XRP, разблокирует 1 миллиард XRP в субботу 1 февраля. По текущим ценам эта разблокировка стоит $3,10 млрд. Когда XRP был запущен в 2012 году, Ripple оставила 80 миллиардов из этого запаса для собственных нужд, постепенно продавая токены на рынке.

2025-1-31 12:11


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Inside OpenSea OS2: Gemesis Access, XP Rewards, and Airdrop Buzz

Uncover why Gemesis holders are first in line for OS2. Explore XP rewards, potential token drops, and how OpenSea plans to reclaim its NFT throne. The post Inside OpenSea OS2: Gemesis Access, XP Rewards, and Airdrop Buzz appeared first on NFT News Today.

Atari and DYLI Unveil Limited Edition Blockchain Patch Packs

If you’ve ever experienced the thrill of playing classic Atari games—or if you’re simply curious about how Web3 is redefining collectibles—you’re in for a treat. Atari has teamed up with a new blockchain-powered marketplace called DYLI to release 500 limited-edition physical patch packs, each linked to a redeemable NFT.

Best NFT Launchpads for Crowdfunding Your Project

NFT launchpads like Binance NFT, Rarible, and Async Art offer creators tools to mint, market, and sell NFTs, unlocking new ways to crowdfund and engage audiences. The post Best NFT Launchpads for Crowdfunding Your Project appeared first on NFT News Today.