Ripple’s XRP asset had a promising start of the month, rising 20% before correcting. Now however, the rally has stalled and bulls are finding it hard to break back above $0.30.
XRP, the coin hoping for global adoption, has also sparked expectations for climbing to a higher market tier. But its appreciation from $0.21 to nearly $0.30 was cut short by overall market factors. Here are the 3 chief things weighing down on the asset and preventing it from reaching $0.30.
Bitcoin (BTC) Slowing Down
The retreat of BTC below $10,000 had the usual effect of also cutting short all the altcoin rallies. XRP, despite being relatively decoupled from BTC, did not survive this time. There is not enough momentum to stop he fear and selling from hurting the price, and XRP slid to $0.27. This position may still be a launching pad for further moves, but now, BTC is once again setting up the pace.
XRP trading is still relatively active at $2.3 billion per 24 hours, but the initial momentum is lost for now. The Ripple asset is also not decoupling from altcoins, showing its support is not unique and depends on overall market sentiment.
Jed McCaleb Possibly Selling
The former CTO of Ripple, and the brain behind XRP, still receives his coin-based severance package. The most recent tranche of 19 million XRP may weigh down on even the most liquid exchanges, if McCaleb tries to sell.
Just as Ripple had calmed markets down by stating the escrow reserves will not be sold, McCaleb reappeared to add fear to the markets. At this activity level, XRP is still not liquid enough to survive dumping. However, with its supporters usually holding onto their coins, the asset has managed to keep up at least to its current level of stability.
XRP FUD From Multicoin Capital Warning
Multicoin Capital, one of the more successful hedge funds, recently added to the negative overall attitudes for XRP. The fund, in a recent interview for Forbes, ascribed its results to shorting XRP.
In the past years, shorting XRP worked out wonders for Multicoin Capital. But in 2020, the asset is among the top performers so far. Yet the approach of the hedge fund holds a warning for other investors.
Despite its large community, not all early XRP adopters are entirely happy. For some, the unclear status of XRP, which could still be pronounced a security, limits the potential for investment. At the same time, using #3 cryptocurrency for payments is still relatively limited, even on RippleNet.
What do you think about the XRP potential for another price rally? Share your thoughts in the comments section below!
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Dormant XRP tokens reactivated, boosting liquidity and fueling renewed investor confidence.
Rising taker buy ratio reflects growing bullish dominance in XRP’s derivatives market.
On the 10The post XRP bounces 8% after drop below $2: Is the rally back on? appeared first on AMBCrypto.
Between 29 July and 30 July, XRP rallied from $0.36 to $0.40, reaching a thirty-day high. Around the same period, XRP flipped BUSD to become the sixth largest cryptocurrency in market value. As per CoThe post Can XRP traders opt for a long bet on the back of possible... appeared first on AMBCrypto.
Ripple’s XRP token had been performing very well in 2020, reaching as high as $0. 34 in mid-February, before pulling back to just under $0. 30. Unfortunately, it wasn’t immune to the losses which have hit virtually the entire crypto-space this week.
As Bitcoin has collapsed over the past day, so too has Ripple’s XRP. Since peaking at around $0. 34 last week on the back of FOMO buying, the popular altcoin, the third-largest cryptocurrency by market capitalization, has plunged as low as $0.
As all cryptocurrencies try to reclaim some of their recently lost value, things will undoubtedly get very interesting later today. For XRP, the losses have piled up significantly over the past 36 hours.
XRP has appreciated approximately 20% over the past 24 hours. XRP had a stellar performance last week moving from $0. 27 to a high near $0. 80. With a turnaround occurring across the market, XRP was no different and dropped back down to $0.
Alongside the news that Coinbase will now be listing as many tokens as they can possibly get hold of, XRP is absolutely skyrocketing. After a positive week, led by news of a pending xRapid launch, XRP has made incredible progression.
FOMO Moments Markets still falling back; XRP up but Ethereum still in pain. Crypto markets are still bearish today following yesterday’s 15 billion dollar dump. What seemed to be signs of another small rally ended a few hours ago when markets turned south once again.
Ripple’s market has been making waves with double digit movements. Trading at $0. 53 at the time of writing, the XRP price dipped to a low of $0. 44 before catapulting back up above the $0.
FOMO Moments Markets are bleeding once again; XRP, Stellar, Cardano and Siacoin getting smashed. As we have seen before the same pattern has resumed and the market rally could not be sustained. Cryptocurrencies have dumped again today wiping out all gains over the past few days.
Ripple (XRP) investors have seen some massive returns on investment these past few weeks but there are reasons to believe that this rally is not over yet. Ripple (XRP) had to retrace after an aggressive rise from $0.
Ripple’s XRP coin price is rising so quickly that the sudden price movement is really starting to rouse snoozing crypto-enthusiasts. At the time of writing XRP is up 100% over the last seven days and Friday, September 21, XRP shot to a peak of $0.
Things aren’t looking very rosy for Ethereum (ETH) right now as it just briefly lost its market position to Ripple (XRP). In the last few hours, XRP attained a market cap huge enough to blow past ETH and grab position 2 – right behind Bitcoin.
For the first time since February 2016 Ripple is back into number #2 position on the Coinmarketcap league table, overtaking Ethereum’s market capital by $3 billion.
Rolling back only a week ago when Bitcoin BTC was plunging around $6,200, EthereumWorldNews covered a piece in which it was highlighted how a twitter user also crypto-enthusiasts believes that the bearish trend is over as the same -85% drop of 266 days occurred in 2014.
Ripple price rallied recently and broke the $0. 3120 resistance against the US Dollar. XRP/USD is now placed nicely in a positive zone and it could move past $0. 3400. Key Talking Points Ripple price broke a crucial resistance at $0.
FOMO Moments Markets have recovered slightly; XRP, Cardano, Tron and Chainlink on a roll. Crypto markets have recovered slightly following yesterday’s ten billion dollar dump. Total capitalization has inched slowly back towards $200 billion and is about to break it.
Ripple (XRP) has slowed down after an aggressive climb last week. The price has now formed a triple top as seen on the XRP/USD 4H chart above. This is a very strong resistance which is unlikely to be breached at this point.
Less than 24 hours ago, Ethereum World News reported that XRP HODLers were getting frustrated due to their favorite digital asset declining in the crypto markets. XRP has declined by over 90% since its all time high value of $3.
Many cryptocurrency investors might have bought in during the Bull run of late December last year to early February this year. As a result, they purchased their investments when some digital assets were at their all time high.
A year-old legal battle between two of the crypto industry’s leading organizations is coming to a close. After a volley of countersuits that had the companies jumping from courthouse to courthouse, Ripple and R3 have brokered a settlement that will put the drama to rest.
The cryptocurrency market has turned back to sharp downward movements after a bullish week was priced in last week. XRP’s price has undergone sharp corrections this year amid the prolonged bear market.
Ripple price nosedived and broke the $0. 3100 range support against the US Dollar. XRP/USD is likely to extend the current decline back towards the $0. 2400 low. Key Talking Points · Ripple price declined heavily after it broke the $0.
Ripple is back to consolidation mode as it is currently stuck inside a symmetrical triangle on the 1-hour chart.
The post Ripple (XRP) Price Analysis: Another Consolidation Pattern appeared first on Ethereum World News.
Institutional investment, high level investment from corporations and organisations that have a lot of money to spend. The benefit of this? Huge sums of money flooding into the markets. The draw back? None that we can think of just yet.
Ripple Price Key Highlights Ripple has been on a tear but is currently hitting a roadblock at the top of its 1-hour range. If the ceiling keeps holding, price could slide back to the bottom or the mid-range area of interest.
Throughout today, the markets have finally started making positive movements, off the back of what thus far has been a very positive week. Granted, as we write this things could change and by the time you get to read this, Bitcoin could be back to $6,500.
TokenPay have been on fire recently, making the most of their social media pages to literally lay into their rivals. It’s brave, but if they think they are the best, they might as well try and flaunt it right?
After flogging XRP and NEO very recently, TokenPay have now decided to tap into the Bitcoin debate.
FOMO Moments Markets slowly recovering this weekend; XRP, EOS, Neo and Tron climbing back, VeChain falling slightly. The slow creep upwards has continued into the weekend as cryptocurrencies add more gains following their lowest levels of the year.
You might look at XRP at the moment and shudder, especially if you bought in during the cryptocurrency boom when XRP exceeded $2. 00. Yesterday, we covered a story about CNBC’s Fast Money, which back in January ran a piece about XRP investment, urging new investors to buy in at $2.
The XRP community was excited when the eagerly awaited VCTRADE by the SBI Holdings company, opened new account registrations on July 17th this year, for users who did not participate in the pre-registration process back in October last year.
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.
Technically, XRP prices are breaking off the 40 day horizontal consolidation and retesting the lower limit of our 5 cent trading zone at 40 cents. Because of this and the way our XRP trade plan dictates, we suggest selling at every pull back with first targets at 30 cents and later 15 cents—our ultimate level.
The beauty of social media is that you get brilliant ideas from the fans of our favorite digital assets. In this case, twitter user @WillyWonkaXRP highlighted a summarized plan of how the Ripple company intended on making XRP and its other Ripple products great, back in 2017.
This weekend has marked a strong negative start to August. This came off the back of a promising start to the week that really seemed to inject an air of positivity back into the community. The weekends negative movements however have done a great job of sucking the optimism out of us all.
Is it correction, or is it something else? Is this trend just what we need to get used to for August too? The markets are down once again, except this time, the major cryptos are taking big leaps downwards.
The crypto-markets seem to back to the usual bearish trend. Bitcoin (BTC) is trading at levels of $7,345 and the total crypto market capitalization has dropped to $260 Billion when we had seen $300 Billion only a few days ago.
Key Highlights Ripple price held the $0. 4270 support once again and remained well bid against the US dollar. There was a break above a connecting bearish trend line with resistance at $0. 4300 on the hourly chart of the XRP/USD pair (data source from Kraken).
XRP has seen some positive movements recently. Sadly, these haven’t really impacted the value of XRP, simply because these movements come off the back of a very negative few months for the currency and for the company, Ripple.
Ripple price retested the $0. 4250-0. 4300 support area and bounced back against the US Dollar. XRP/USD must clear $0. 4550-0. 4660 resistance zone for more gains. Key Talking Points Ripple price is facing a tough resistance near the $0.
The cryptocurrency market showed signs of recovery on February 20, bouncing back from recent losses. Bitcoin (BTC) managed to sustain levels above $97,000, while major altcoins, including Ethereum (ETH), Ripple’s XRP, and Solana (SOL), posted gains between 1% and 6%.
The US Securities and Exchange Commission (SEC) is soliciting public input on a proposal for an exchange-traded fund (ETF) tied to XRP. In a filing posted on Wednesday, the SEC acknowledged a proposal from Cboe BZX Exchange, Inc.
The U.S. SEC formally recognized Litecoin and XRP ETF filings submitted by CoinShares, adding to a growing list of pending applications based on Ripple’s native token.
Биржа Cboe BZX Exchange подала заявку 6 февраля, предложив запустить Bitwise XRP ETF в категории Commodity-Based Trust Share. Что это значит для инвесторов? Теперь у SEC есть три месяца, чтобы принять решение.
The XRP community is buzzing after US President Donald Trump shared Ripple-related content on the social media platform Truth Social. This comes at a time when institutional interest in the digital asset is rising, especially with the US Securities and Exchange Commission (SEC) formally acknowledging more applications for a spot XRP exchange-traded fund (ETF).
The United States Securities and Exchange Commission (SEC) has formally acknowledged three applications for XRP exchange-traded funds (ETFs) within a five-day span. This development has fuelled speculation about the regulator’s stance on XRP and its potential classification as a commodity.