The aggregated cryptocurrency market has been caught within a firm uptrend over the past few days, with Bitcoin rallying up to its key resistance in the upper-$6,000 region leading many major altcoins including XRP all posting some decent gains.
Although XRP has been able to recapture its key position above its $0.15 support, it has been underperforming Bitcoin over the past several days and weeks.
This has led analysts to note that the impotency of the crypto’s bulls during the course of the recent market-wide uptrend seems to elucidate some underlying weakness, potentially signaling that it will soon lose this support and reel lower.
XRP Inches Up 3%, Underperforms Bitcoin
At the time of writing, XRP is trading up just over 3% at its current price of $0.16, which marks a slight climb from daily lows of $0.15 that were set yesterday.
Over a weekly period, the crypto has been able to put some notable distance between its current price and lows of $0.14 that were set when the markets were caught in a bout of sideways trading on the heels of the massive volatility seen a couple of weeks ago.
Today’s movement has been somewhat tempered, as it is currently trading down over 2% against its BTC trading pair, marking what one analyst describes as an “impotent” reaction from bulls to bolster the cryptocurrency.
“Ripple – Daily chart – Looks like another failed bounce setup, as bulls remain impotent,” Big Cheds noted in a recent tweet.
$XRP #Ripple – Daily chart – Looks like another failed bounce setup, as bulls remain impotent#TheStandard pic.twitter.com/a66ETWsaFv
— Big Cheds (@BigCheds) March 24, 2020
Just How Far Could the Crypto Drop Before Finding Any Notable Support?
Although $0.15 may be acting as strong support in the near-term, some analysts believe that XRP is bound to see significantly further downside before it is able to find any significant support.
Livercoin, a prominent cryptocurrency analyst on Twitter, spoke about the embattled crypto in a tweet from this past weekend, telling his followers that he anticipates XRP to decline another 30% or more against its BTC trading pair before it finds any significant support.
“Expecting another 30% drop on XRP. 2500 sats support holding strong but bulls are going to throw in the towel eventually,” he noted.
Expecting another 30% drop on $XRP
2500 sats support holding strong but bulls are going to throw in the towel eventually… pic.twitter.com/9M9I2ZGpyh
— Livercoin (@livercoin) March 22, 2020
This potential bearishness will be further heightened if BTC is unable to maintain its current stability, with a strong rejection in the upper-$6,000 region potentially leading XRP to see a capitulatory decline.
Featured image from Shutterstock. origin »
XRP's price remains muted despite the SEC's acknowledgment of Bitwise's XRP ETF filing. With rising selling pressure, the altcoin risks breaking below key support, signaling further decline.
The post XRP Price Poised for Drop Below Key Support Even as ETF Filing Progresses appeared first on BeInCrypto.
XRP is trading in an ascending channel pattern, which could lead to a rally toward $0.66.
XRP’s RSI currently sits at 60, suggesting the asset may be poised for a potential price surge.
XRThe post XRP shows bullish signs: Key levels to watch for a breakout to $0.66 appeared first on AMBCrypto.
Ripple whales have accumulated close to 50 million XRP, worth approximately $26. 5 million.
XRP is struggling to break key resistance levels, with its 50-day and 200-day moving averages at $0.
XRP’s Fear and Greed index flashed 'fear'
Market indicators and metrics pointed to a trend reversal
Most cryptos had a rough week as their weekly charts remained red, and XRP was no differThe post Is XRP's price set for a major rally? This bullish pattern could be key... appeared first on AMBCrypto.
XRP is currently pushing higher alongside Bitcoin and the rest of the cryptocurrency market. The digital asset has been struggling to break above the resistance that exists between $0. 30 and $0. 33, but it now appears that bulls are vying to push it past this key region.
Key Highlights XRP/USD market has managed to break down its recent key technical mark at $0. 26 to average a low $0. 22 demand zone. The XRP/USD sellers are yet a bit tougher in exerting pressure on the crypto-market.
Key Highlights XRP/USD market now trades sideways around a $0. 28 mark. Trading indicators signal that the XRP/USD market still somewhat under declining moves. A strong rebound expected, while sudden dip occurs around the $0.
Ripple climbed above $0. 2800, but it failed to continue above $0. 2860 against the US Dollar. XRP price is currently declining towards the key $0. 2700 and $0. 2650 support levels. Ripple price topped near the $0.
The past few days haven’t been kind to the crypto markets. After peaking last week, market leaders Bitcoin, Ethereum, and Ripple’s XRP and smaller altcoins saw their values tank. XRP, unfortunately, was hit especially hard, perhaps because it has seen an especially strong rally over the past eight weeks.
Over the past two days, the crypto market hasn’t fared too well. After peaking last week, the prices of digital assets across the board have tanked. XRP, the third-largest cryptocurrency by market capitalization, tanked from the multi-month high just a smidgen above $0.
Key Highlights XRP/USD trade now witnesses a series of range price movements since yesterday’s trading sessions. The crypto may not push northward above $0. 30 also in the near time. A fierce rejection at a $0.
The company has created a page on its website where foul-play can be reported. This move represents the increasing attempts by Ripple to establish itself as a key player in global finance. FRAUD CAN BE REPORTED, BUT FUNDS NOT REVERSED The reporting website gives consumers the ability to make the company aware of fraudulent behavior involving the XRP token.
Ripple corrected lower sharply and broke the $0. 3000 support area against the US Dollar. XRP is now trading near the key $0. 2640 support and it must break $0. 2900 for a fresh increase. Ripple price is currently consolidating above the key $0.
Key Highlights XRP's price strength has once again overpowered by the US dollar market worth. A fiercely breakthrough of a $0. 30 mark will portend a decent return of the XRP bullish trading cycle.
Ripple failed to clear the key $0. 3080 resistance and declined sharply against the US Dollar. XRP price is down 5%, but there are many key supports on the downside. Ripple price started a strong decline after it was rejected near the $0.
Key Highlights The US dollar has now forced the XRP price value into a range trading condition. The XRP/USD price now hovers around $0. 30 and $0. 28 zones. The $0. 30 value, again seen as a strong-line retarding free upward ride of the XRP/USD bulls.
Ripple started an upside above the $0. 2850 resistance area against the US Dollar. However, XRP price is still facing a couple of key hurdles near $0. 3000 and $0. 3080. Ripple price is currently correcting higher from the $0.
Key Highlights XRP market is under a falling force by the US dollar price valuation. XRP/USD pair’s value now averages a low point at $0. 26. The XRP/USD traders need to exercise some levels of caution in exerting more sell order presently.
The ongoing rally seen amongst major cryptos has allowed XRP to break past the key resistance it was previously facing around $0. 33, with its movement past this level leading analysts to grow even more bullish on the cryptocurrency than they were before.
Key Highlights XRP/USD market now trades in a correctional moving mote around $0. 32 value. Trading around $0. 34 and $0. 32 price values may generate into seeing line of further range market movements.
Ripple surged higher and climbed above the $0. 3200 resistance area against the US Dollar. However, XRP price is now facing a strong resistance near the $0. 3400-$0. 3500 area. Ripple price surged to a new 2020 high at $0.
Key Highlights XRP/USD market has managed to spring northward to hit a high resistance point at $0. 34 mark. As at the time of writing, the US dollar cannot ensure a quick come-back in this trade. The market lines between $0.
XRP has been one of the best performing major cryptocurrencies over the past several days, with its recent rally past $0.30 allowing it to form a highly bullish market structure that is likely to lead...
Ripple rallied around 20% and it broke the key $0. 3000 resistance against the US Dollar. XRP price is now approaching the $0. 3400-$0. 3500 resistance, where it could face a strong selling interest.
Key Highlights There have been notable sequential increases in the valuation of the XRP/USD trade. Most indications support that the XRP/USD bulls are still relatively in the control of this crypto market.
Key Highlights XRP/USD pair has been trading around $0. 28 price territory. A prolong range of trade operations may be experienced around the $0. 28 line. The XRP/USD bulls may be taking time to surge northwards.
Key Highlights XRP market valuation had been on an increase to outweigh the US dollar price worth. XRP/USD pair has the potential ability to build up the energy between the $0. 28 and $0. 26 price levels.
XRP and all other cryptocurrencies just closed out their weekly candles a couple of hours ago, with today’s close being widely viewed as a critical event that would offer significant insight into where the markets...
Key Highlights XRP/USD market consolidates below the $0. 30 supply zone for about a couple of days. The XRP price now experiences a pit stop between $0. 30 and $0. 20 lines. Either a breakout or a reversal at $0.
While XRP is up over 50% in the past 50 days, rallying from $0. 17 to a local top of $0. 29 in just over a months’ time, the cryptocurrency is still dramatically down from its all-time high above $3.
XRP’s recent price action seems to suggest that the cryptocurrency will end up being the dark horse of 2020, as its recent price action is shaping up to be overwhelmingly bullish as multiple key technical factors begin flipping into the favor of buyers.
XRP has been rallying throughout the last week, pushing through downtrend resistance and is potentially ready to reclaim former highs. The first step in an attempt at breaking above recent bear market rally highs is recapturing the 200-day moving average – a feat that XRP just achieved after the latest pump above.
It appears that XRP’s strong price action over the past several days was bull’s attempt to lay the groundwork for a massive upside movement. XRP is now caught within what appears to be a firm uptrend that has allowed the cryptocurrency to significantly outperform both Bitcoin and most major altcoins, which has also led it […]
The post These key factors could propel XRP further after its “highly bullish” 11% rally appeared first on CryptoSlate.
Ripple found support near the $0. 2460 area and climbed higher against the US Dollar. XRP price surpassed the key $0. 2500 resistance to open the doors for more upsides. Ripple price is showing positive signs above $0.
Ripple gained recently and broke the $0. 2450 and $0. 2500 resistance levels against the US Dollar. XRP price is currently correcting, but it is likely to continue higher towards $0. 3000. Ripple price climbed higher and traded to a new monthly high at $0.
Ripple price is rising steadily and trading above the $0. 2260 resistance area. XRP to USD is likely to aim a strong upside break above the $0. 2400 and $0. 2415 resistance levels in the near term.
XRP didn’t have the best of years in 2019. In a year when effectively all assets posted jaw-dropping gains — Bitcoin gained 95%, the S&P 500 rallied by over 30%, gold posted an approximate 20% gain — the third-largest cryptocurrency plunged 50%.
Ripple extended its decline and broke the key $0. 2270 support against the US Dollar, similar to bitcoin below $8,500. XRP price is now at a risk of more losses towards $0. 2050 or $0. 2000. Ripple price is gaining bearish momentum and it is now well below $0.
Ripple price is trading nicely above the $0. 2300 and $0. 2335 support levels. XRP to USD is likely to surge again if it clears the $0. 2405 and $0. 2415 resistance levels. Key Takeaways: XRP/USD Ripple price declined recently from the $0.
Ripple tested the key $0. 2240 support area and recovered against the US Dollar, similar to bitcoin. XRP price is showing positive signs and it could rally to $0. 2550 if it breaks $0. 2420. Ripple price is recovering nicely from the $0.
A prolonged legal battle, which may hold the key to XRP’s future, has been extended again. The class action lawsuit alleges that Ripple issued and sold the coin, one of the largest by market cap, as an unregistered security.
Ripple extended its rise above the $0. 2450 resistance against the US Dollar, similar to bitcoin above $8,800. XRP price topped near the $0. 2540 area and recently corrected lower. Ripple price is down more than 6% and broke the $0.
Overnight, Bitcoin faced a firm rejection after attempting to garner significantly further upwards momentum. This instantly led major altcoins like XRP and Ethereum to drop in tandem, shinning a light on some potential underlying weakness within the crypto markets.
XRP is currently positioning itself to be the dark horse of 2020, as the embattled token is now setting itself up to see massive near-term upside, which comes mere weeks after it closed 2019 with YTD losses of over 40%.
Ripple corrected lower sharply from $0. 2450, but it found support near $0. 2200 against the US Dollar, similar to bitcoin near $8,500. XRP price is recovering, but it must surpass $0. 2360 for a fresh rally.
Ripple is down more than 4% after it was rejected near $0. 2450 against the US Dollar, similar to bitcoin near $8,900. XRP price is now approaching the key $0. 2230 and $0. 2200 support levels. Ripple price declined steadily after forming a short term top near $0.
Today has been a great day for XRP bulls, as the embattled cryptocurrency has been able to outpace Bitcoin as it races up towards a key multi-year resistance level. This upwards momentum has come about as the aggregated crypto market continues to incur significant strength.
Over the past seven months, analysts have been wondering when the crypto market is going to revert back to a bull phase. Related Reading: Ripple CEO: These 3 Key Reasons Are Why XRP is Not a Security You see, when Bitcoin started rallying from $4,000 higher in early-2019, analysts and investors thought this was the start... The post appeared first on NewsBTC.
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