XRP has been severely underperforming the aggregated crypto market throughout 2020
The crypto is now on its 886th day of selling lower lows
Analysts do not believe that this trend is going to alleviate anytime soon, as there are other signs of weakness that it has been flashing in recent times
One veteran trader even noted that it could soon plummet another 30% against its BTC trading pair
XRP has been struggling to garner any upwards momentum in recent times. Its lackluster price action seen throughout the past couple of years has caused it to surrender its position as the third largest digital asset, and analysts expect further weakness.
One analyst recently noted that today is the token’s 886th day of setting lower-lows – a trend that has been the root cause behind the severe losses it has seen against its Bitcoin trading pair.
This downtrend doesn’t appear to be ending anytime soon, as a highly respected veteran trader believes that it will continue declining until it reaches its next key support that exists roughly 30% below where it is currently trading at.
This level is where it kicked off its 2014 and 2017 parabolic uptrend, so it is imperative that buyers post a strong response to this level – should it be reached.
XRP Continues Setting Lower Lows as Technical Weakness Mounts
At the time of writing, XRP is trading down 2% at its current price of $0.195. It has generally been hovering around $0.20 for the past few days, but the recent market-wide turbulence has broken this consolidation phase.
It has, however, been able to climb slightly against its Bitcoin trading pair today – currently trading up 0.5% at 0.00002065 BTC.
XRP’s long-held weakness is likely to spark further losses.
One analyst spoke about this, explaining that he is targeting a movement towards 0.00001500 BTC – as this is where its rallies seen in 2014 and 2017 both kicked off.
“XRP 886, yes 886 Days of macro lower highs on USD pair. BTC pair shows what appears to have been 305 days of sideways action or distribution. Just had an alert go off for new lows today. 1.5k sats is my target. Where it’s first rally in 14′ started and the 17′ rally for alts,” he noted.”
Image Courtesy of Pentoshi. Chart via TradingView
Veteran Trader: The Token is Likely to Plunge Another 30% Before Finding Support
The aforementioned analyst isn’t the only one targeting a movement to this price region.
Peter Brandt – a veteran trader – recently noted that he expects XRP to reel towards 0.0000145 before finding any support.
“Looks like Ripple Labs…has blown the wad allocated to support XRPBTC at .00002060 to .0002075 levels. If ice-line cannot be reclaimed, look for new support at .0000194 on way to .0000145,” he stated while pointing to the below chart.
Image Courtesy of Peter Brandt. Chart via TradingView
If it is unable to find strong support here, it could be in jeopardy of seeing a massive decline.
Featured image from Shutterstock
Charts from TradingView origin »
XRP price has performed well so far this month, with crypto experts predicting that the rally could gain momentum soon. Ripple (XRP) crossed the key resistance level at $1 this week as demand surged, marking a nearly 200% increase from…
XRP sank to a zone of support just above a key Fibonacci level.
The $0.68 zone could rebuff bullish efforts in the coming weeks.
Ripple [XRP] prices sank 17% from 16th December to 18th DecThe post Why XRP price predictions might come true soon appeared first on AMBCrypto.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
XRP has a short-term bearish bias.
A diThe post Will XRP turn bullish soon? appeared first on AMBCrypto.
It’s no secret that XRP has been one of the worst performing cryptocurrencies throughout the past couple of years, woefully underperforming both Bitcoin and its USD trading pair. This underperformance may soon extend even further, as analysts are noting that the crypto is on the cusp of seeing another breakdown as it hovers just above...
XRP has been flashing signs of immense weakness as of late, which has only grown further following the latest market-wide rally Although many altcoins have been able to hold up well against BTC throughout the course of the latest uptrend, XRP has shed 2% of its value.
XRP, like most other altcoins, has been caught within a bout of sideways trading throughout the past several days and weeks The cryptocurrency’s rangebound trading may not last long, however, as analysts are now noting that it could be poised to see some major downside in the days and weeks ahead Its next notable decline could be sparked by a bull trapping movement higher Some analysts are even pointing to a fractal that suggests new […]
XRP has continued to severely underperform Bitcoin, forcing it to also see some downside against its USD trading pair despite the bullish market conditions This weakness has caused the third-largest crypto to decline beneath a key last-ditch support level that was bolstering its price action Analysts are now noting that it could soon see a freefall that leads it significantly lower due to the weakness resulting from this dire technical breakdown Yesterday the aggregated crypto […]
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XRP goes where Bitcoin does. In fact, this is true for most cryptocurrencies. However, this correlation spikes up when there's a massive surge/drop in Bitcoin's price. and could either be good or bad.
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XRP is the third-largest cryptocurrency even with the price trading under $0.20 for quite a while. The total XRP in circulation [which is 44 billion] easily compensates for the price. At press time, XThe post XRP and Bitcoin correlation hits a new ATH: More headwinds for XRP soon appeared first on AMBCrypto.
XRP may soon be ready “pop off” and go on one of its “once a year” rallies the asset is known for, according to one cryptocurrency analyst. The analyst points to the altcoin nearly doubling in value in sats as the most logical target for the surge.
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Ripple is facing a strong resistance near the $0. 1500 region against the US Dollar. However, XRP price remains well supported above $0. 1400 and it could soon start an increase towards $0. 1700.
For a while now, altcoins have been dropping in prices with no support in sight. The scheduled alt season ended as soon as it began. The altcoins that surged by 40, 50, 60, 100% have all started to deThe post XRP's golden cross to be undone by 5% to 10% drop? appeared first on AMBCrypto.
Key Highlights XRP's price valuation trades in a rally moving mode from a low line at $0. 22 mark. The XRP/USD market bulls are not strong in exerting much-needed forces. There may be an occurrence of a series of range price movements soon around the $0.
According to a report by Bloomberg published on February 26, 2020, San Francisco-based blockchain project Ripple Inc. Could soon face a lawsuit that, according to the firm, could topple the market for the firm’s digital token, XRP.
Since Jan 8, the Ethereum price has increased by 68% while XRP has lagged behind by only 8%. Their price movements, however, share several similarities, allowing for the possibility that XRP will soon initiate a rapid move to the upside.
While the third biggest crypto has been showing some flat trading, its index of liquidity in the Philippines is soaring and traders are expecting a price surge soon
Coinspeaker XRP Market Performance: XRP Price Is Going Down but It May Start Increasing Again SoonXRP price is down now. But let's take a closer look at the XRP market performance and the measures put in place by Ripple and XRPL community to see the coin thrive in the future.
Over the past two days, 50 mln XRP has been moved between three large trading platforms and the Japanese BitBank, which, some assume, may join a new ODL corridor soon
Trader and analyst Luke Martin claims that XRP is significantly undervalued when compared to other major alt coins. Martin’s position reflects the volatility of the present cryptocurrency market, and indicates that far more capital is expected to enter the space soon.
XRP spent over 97 days under the $0. 30 mark, before resetting the counter just hours ago. After dropping down to $0. 266, XRP has been moving upwards through steep candles and high volumes. According tThe post XRP touches $0.
Ripple has just unlocked another 100,000,000 XRP ($27. 9M) from its escrow wallet, sparking fears that a sell-off may be coming. Ripple’s XRP holders may soon face a sell-off due to a massive token unlock from the official team’s escrow wallet.
Ripple surged higher recently above the $0. 2650 and $0. 2720 resistances against the US Dollar. XRP price remains well supported and it could soon rally to $0. 3000 if it breaks $0. 2810. Ripple price rallied to a new 2020 high at $0.
Ripple stared a strong rise from the $0. 2460 support area against the US Dollar. XRP price rallied around 8% and it seems like it could soon climb towards $0. 3000. Ripple price is up around 8% and it broke the $0.
Like it or not, XRP hasn’t fared too well over the past few years. Since its blow-off top in January of 2018, during which the cryptocurrency traded above $3. 00, the price of XRP has crashed, falling to $0.
Ripple CEO Brad Garlinghouse has indicated that the tech company could go public as soon as within 12 months. While at the World Economic Forum in Davos, Switzerland, Garlinghouse told the Wall Street Journal that this is the “natural evolution” for the company.
XRP and the majority of other major altcoins have been able to develop firmly bullish market structures over the past few weeks, which has been driven by the massive 2020 uptrend that the crypto market is currently caught within.
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.
As XRP has regained the $0.24 level, the community is rejoicing, however, seeing that Ripple has unlocked another 100 mln XRP, some are now suspecting a dump coming soon
Altcoins have once again started to fall off, with Ethereum and XRP both plunging amid Bitcoin’s latest bout of volatility. According to an analyst going by Mac, it may soon get worse for the altcoin class.
XRP hasn’t done too hot over the past few months, both in terms of its performance against the U. S. dollar and against Bitcoin. Even over the past year, the third-largest altcoin has collapsed by 50%, underperforming the leading cryptocurrency by a massive margin.
Although all eyes have been on Bitcoin as of late, it may be time to pay some heed to altcoins like Ethereum and XRP. According to a recent analysis of the ETH/BTC chart, Ether may soon rally by over 100% against the leading cryptocurrency Bitcoin, with technical and fundamental factors supporting a rally in this.
In another boost for the XRP ecosystem, Bitrue, a Singapore-based cryptocurrency exchange announced that it will soon list 27 new XRP pairs on its platform.
With XRP as the base pair, the first 14 The post Bitrue lists 27 new XRP-based trading pairs appeared first on AMBCrypto.
Over the past few days, Bitcoin has strongly outperformed altcoins, especially Ethereum and XRP. On Wednesday, when BTC was trading 8% down on the week, both ETH and XRP — the second and third-largest cryptocurrencies by market capitalization, respectively — were down nearly 15% since the weekly open, crushed under the pressure of BTC volatility.
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.
XRP price started a strong increase above the $2. 850 zone. The price is now correcting gains and showing positive signs above $3. 00. XRP price started a downside correction from the $3. 220 zone.
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XRP, the native cryptocurrency of the Ripple network, has seen its price grow massively in recent months, allowing it to overtake many other large-market cap cryptocurrencies. At the time of writing, XRP is the third-largest crypto by market cap, and current buying trends suggest it might stay there for a while.
The XRP price is in the spotlight again, as a crypto analyst has shared his short—to long-term prediction for the third-largest altcoin. While the asset has experienced a series of bullish events that have driven its price to its current level, the analyst strongly believes that the cryptocurrency can jump even higher to reach $20.
XRP price struggled to continue higher above the $3. 25 level. The price is now correcting gains and might find bids near the $3. 00 level. XRP price started a downside correction from the $3. 250 zone.
XRP is currently navigating a pivotal phase, trading within a well-defined consolidation range of $2. 9 to $3. 4. This narrow band reflects a balanced struggle between bullish optimism and bearish caution as neither side has yet mustered the strength to trigger a decisive price movement.
XRP is currently trading around the $3. 10 level after a weekend marked by significant volatility and a lackluster market response to President Donald Trump’s inauguration day. Hopes had been high among crypto investors that the new U.
