XRP, like Bitcoin and many other major altcoins, has cratered over the past several days and weeks, plummeting from 2020 highs of $0.35 to recent lows of sub-$0.10. Although the crypto has since climbed from these lows, the instability of the aggregated market has made it prone to seeing further near-term downside.
In spite of its overt bearishness, one trader is noting that he believes it could be time to “start accumulating” the cryptocurrency, with a few simple factors potentially allowing it to climb higher in the days ahead.
As to how far this momentum could lead XRP, one prominent cryptocurrency trader is explaining that he believes it could soon tap highs of $0.27.
Confluence of Bullish Factors Suggests XRP Could Soon Rally Higher
At the time of writing, XRP is trading down just over 7% at its current price of $0.142, which marks a notable decline from daily highs of over $0.16 that were set yesterday.
This fleeting rally came about in tandem with Bitcoin’s rally up to highs of nearly $6,000, which is where it lost its momentum and plummeted lower, taking the aggregated market with it.
It now appears that XRP could be flashing some bullish signs, however, which is leading one trader to note that the crypto could soon rally higher.
Calmly – a prominent crypto trader on Twitter – told his followers in a recent tweet that he believes the cryptocurrency is well positioned to see some upwards momentum in the days and weeks ahead as it flashes signs that investors are accumulating it at its monthly support level.
“XRP: Begrudgingly, I think it’s time to start accumulating Ripple. 1. The XRP / BTC chart looks like accumulation at monthly support. The bitcoin pair held up during the crash. 2. The USD pair is at my long-term support zone. Even during the crash this lvl held,” he explained.
#Ripple / $XRP – Begrudgingly, I think it's time to start accumulating #Ripple
1 The $XRP / $BTC chart looks like accumulation at monthly support. The #bitcoin pair held up during the crash
2 The $USD pair is at my long term support zone. Even during the crash this lvl held pic.twitter.com/lRqxjgCrzE
— Calmly | full-time trader (@im_calmly) March 14, 2020
Just How High Could the Crypto Rally in the Near-Term?
As for how high these bullish factors could lead the cryptocurrency in the near-term, Calmly notes that his current upside target sits at roughly $0.274, which could be tapped in the coming couple of weeks.
“XRP – It’s time,” he concisely noted while referencing the targets set in the below chart.
#Ripply / $XRP – It's time. pic.twitter.com/SS9z4kaQih
— Calmly | full-time trader (@im_calmly) March 16, 2020
It is probable that this potential upwards movement will require Bitcoin to also climb higher, as BTC currently appears to be in a precarious position as it hovers around $5,000.
Featured image from Shutterstock. origin »
All cryptocurrencies have mounted a strong recovery since the March lows, XRP included. After bottoming at $0. 11, the third-largest altcoin by market capitalization rallied 110% from the lows to find a local top near $0.
Although the crypto market has posted a slight recovery since Monday’s brutal lows, Bitcoin, XRP, and all other cryptocurrencies remain down dramatically since Saturday’s highs. Case in point: XRP is still trading at $0.
As the global markets continue to suffer whiplash, cryptocurrencies have not been left behind. The flagship cryptocurrency has dived to one-month lows at $7,600. Ripple’s XRP, on the other hand, plunged to $0.
Ever since tapping multi-week lows on the weekend, the crypto market has embarked on a recovery. XRP, having traded as low as $0. 22 last week is now at $0. 241, rallying alongside Bitcoin, which has retaken $9,000 as of the time of this article’s writing, per data from CoinMarketCap.
XRP, like many other major altcoins, has caught the brunt of Bitcoin’s recent downturn, with the embattled crypto plummeting from its recent highs of $0. 35 all the way down to its current price of under $0.
XRP investors witnessed some bearish price action earlier this week when the cryptocurrency plummeted from highs of $0. 34 to lows of $0. 28, which is where it was able to find some strong support that allowed it to reclaim its position above $0.
This past week XRP saw an incredibly bearish retrace after struggling to maintain its position within the lower-$0. 30 region, with its drop from its 2020 highs of $0. 34 leading the crypto to plummet all the way to lows of $0.
XRP, like most major altcoins, has seen an intense selloff today that has been primarily driven by Bitcoin’s decline to lows of $9,500, with the benchmark cryptocurrency’s downtrend accelerating in the time following its violent break below $10,000.
On January 23rd, leading Bitcoin derivatives exchange BitMEX revealed its intent to launch a new financial product for XRP. In a blog post, the company said that this product would be a “Ripple USD quanto swap,” which will allow traders to leverage trade the cryptocurrency with leverage of up to 50x.
The aggregated crypto markets have been caught within a firm and unwavering uptrend over the past several days and weeks, which allowed many cryptos, including XRP, to put significant distance between their current prices and...
The price of XRP up ~45% since mid-December lows, representing its strongest move since October 2019. Fundamental metrics also show growth, with an increase in weekly active address activity over the last month.
XRP has been slowly clawing its way towards the mid-$0. 20 region, which previously proved to be a strong support level for the cryptocurrency prior to its capitulatory drop to lows of $0. 18 in late-2019.
XRP – the token associated with fintech company Ripple – incurred some massive momentum yesterday that allowed the cryptocurrency to climb 13% at one point, thus putting significant distance between its recent lows of $0.
XRP had a disappointing second half in 2019, with the cryptocurrency plummeting to new lows with every passing week. 2020 seems to have brought more bad news for XRP.
According to a recent announceThe post XRP delisted by crypto-exchange backed by Japan's LINE appeared first on AMBCrypto.
It’s been a tough year for XRP, as the cryptocurrency failed to garner any notable momentum throughout the early part of the year while cryptocurrencies like Bitcoin and Ethereum were busy putting a significant amount of distance between their recent late-2018 lows.
It’s no secret that XRP – the digital currency with close ties to FinTech company Ripple – hasn’t had the best year from a technical perspective, ending the year on a low note after recently setting fresh post-2017 bull run lows.
After a ~26% rise in value between the 17th and 18th of September, XRP’s 33% crash over the next 6 days shook the community, as the coin saw lows last seen over two years prior. Despite a relativelyThe post XRP's short-term rise to $0.206 likely appeared first on AMBCrypto.
Ripple price is still trading in the red zone below the $0. 2000 resistance against the US dollar. The price is declining and it could soon break the $0. 1840 support area to continue lower. This week’s key bearish trend line is still active with resistance near $0.
Bitcoin continues to trade below the psychological $7,000 level, following Monday’s wide-spread crypto sell-off that caused the market to shed over $10 billion in value. All top 10 cryptocurrencies continued to trade at fresh monthly trading lows, though XRP was affected and continued to rack up losses under the $0.
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.
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