Ripple’s XRP price analysis for March

Ripple’s XRP price analysis for March
фото показано с : invezz.com

2021-3-22 14:48

Ripple’s XRP token was one of the rare cryptocurrencies that ended up in the green in the past 24 hours. What is the reason for its strong price performance, and should you consider buying some XRP now?

Fundamental analysis: XRP is a utility token?

XRP has been under a lot of pressure due to the SEC lawsuit against Ripple and its executives. While there are as many interpretations of the hearing as there are analysts, it seems that the SEC is slowly realising that XRP has utility.

“My understanding of XRP is that not only does it have a sort of currency value, but it also has a utility, and that utility distinguishes it (I think) from Bitcoin and Ether. Is that correct?” – a statement coming from a Judge in the Ripple case.

This glimmer of hope for the XRP community was a possible cause of XRP’s recent push up. On top of that, countries such as the UK already stated that they consider XRP as a utility token.

XRP posted week-over-week gains of 12.34%, outperforming both BTC‘s week-over-week loss of 7.35% and ETH‘s 6.70% loss. Ripple’s XRP is currently the 7th-largest cryptocurrency by market cap, boasting a value of $22.97 billion.

At the time of writing, XRP is trading for $0.5, which represents a price increase of 20% when compared to the previous month’s value.

XRP/USD technical analysis: XRP fails to break $0.55 due to lacking volume

If we take a look at the XRP/USD daily chart, we can see strong fluctuation during February, but a lot of sideways trading in March. However, the cryptocurrency did make a move towards the upside, which brought its price as high as $0.55 at one point.

The move got stopped by the 61.8% Fib retracement level of $0.553 that dates back from the November-December move towards the downside. The failed move was caused by the lacking volume, which has been on the decline ever since the start of the month.

XRP/USD daily chart

XRP’s daily RSI is currently on a slight decline, with its value sitting at 56.12.

XRP/USD 1-hour chart

Zooming in to the hourly time-frame, we can see a strong push towards the upside that was caused by an influx in buyers. However, as much as the volume increase seems big on the hourly chart, when looked at from a larger time-frame perspective, it was simply not enough. After failing to break the 61.8% Fib retracement level, XRP started retracing towards $0.48.

The cryptocurrency is currently fighting for the 50-hour EMA. Its upside, on the other hand, is guarded by the descending 21-hour EMA.

The post Ripple’s XRP price analysis for March appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 2.26 (-0.23%)
Объем 24H $12.24b
Изменеия 24h: 0.60 %, 7d: -5.92 %
Cегодня L: $2.1858 - H: $2.2889
Капитализация $129.389b Rank 4
Цена в час новости $ 0.518 (336.29%)

xrp ripple price analysis march token buying

Источник: invezz.com

xrp ripple → Результатов: 126


Фото:

Ripple предупредила о росте числа криптомошенничеств на фоне бычьего ралли XRP

Компания Ripple предупредила подписчиков в соцсети Х о массовых случаях фишинга и мошенничества на фоне роста крипторынка, в частности, криптоактива XRP.

2024-12-3 12:57


Фото:

XRP выросла на 20% после встречи гендиректора Ripple с Трампом

Американское издание FOX Business сообщило, что генеральный директор Ripple Брэд Гарлингхаус встретился с избранным президентом США Дональдом Трампом. На фоне этой новости криптовалюта XRP выросла на 20% — до $0,9842.

2024-11-18 11:49


Сколько XRP у Ripple? Компания раскрыла свои резервы

Недавно Ripple опубликовала отчет по XRP за четвертый квартал 2024 года, в котором поделилась, сколько именно XRP у нее на счетах. Судя по отчету, Ripple держит запасы в двух «карманах»: Свободный XRP — токены, которые у компании прямо в кошельке.

2024-11-3 12:03


Фото:

Ripple at crossroads as co-founder moves 30 million tokens amid reserve surge

Ripple (XRP), one of the most prominent cryptocurrencies, has garnered attention due to a series of significant market and on-chain events that have left the XRP community uneasy. With developments around large token transfers and increasing exchange reserves, questions have arisen about the future direction of XRP’s price. In this article, we explore these key […]

2024-9-27 21:56


Why Ripple’s XRP Has an Edge Over Bitcoin and Ethereum in the Race for Practical Cryptocurrency Adoption

A crypto analyst from the YouTube channel AllinCrypto presented a video to prove that Ripple’s XRP has the best chance of being used as a currency compared to other cryptos. His argument is that the strength of XRP is not that it uses a currency but that it can enable the existing fiat currencies’ capabilities […] The post Why Ripple’s XRP Has an Edge Over Bitcoin and Ethereum in the Race for Practical Cryptocurrency Adoption appeared first on CaptainAltcoin.

2024-8-29 23:45


Ripple начинает тестирование своего стейблкоина на Леджере Ethereum и XRP

Компания Ripple, ориентированная на предприятия блокчейн-сервис и создатель XRP Ledger (XRP), сообщила в пятницу, что начала тестирование своего стейблкоина в сети Ethereum (ETH) и XRP Ledger. “В настоящее время Ripple USD находится на стадии бета-тестирования и проходит тщательную проверку нашими корпоративными партнерами”, – говорится в сообщении компании в блоге.

2024-8-10 01:38


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Top 3 cryptocurrencies to buy for 5x gains by January 2025

As 2024 comes to an end, crypto investors are realigning their investments targeting top cryptocurrencies to buy for significant gains by January 2025. The urge stems from the renewed optimism around cryptocurrencies with the incoming pro-crypto Donald Trump administration.

Crypto wrap: BTC, ETH, XRP bounce as Horizen (ZEN) spikes 60%

The crypto market witnessed the sharpest declines in months as Bitcoin crashed to lows of $92k on December 20, 2024. However, the flagship cryptocurrency was back at $97k at the time of writing. Meanwhile, Horizen price led top gainers as Ethereum and XRP flipped positive after crashing to key support levels. Per market data from […]

Bithumb faces temporary XRP withdrawal delays as volume increases

Crypto market freefall causes Ripple withdrawal delays on Bithumb. One of the major cryptocurrency exchanges in South Korea, Bithumb, has formally announced that withdrawals of XRP are taking longer than planned because of an unexpected spike in transaction volume. In…

SEC To Approve XRP And Solana Joint ETF? Analyst Says Yes

Analysts from Bloomberg have a positive outlook that a score of cryptocurrency-based exchange-traded funds or ETF would get approval from the US Securities and Exchange Commission (SEC) in 2025. Related Reading: Bitcoin Soars Past $106,000 For A New ATH — What’s Driving The Frenzy? Crypto investors might have a lot of options next year when […]