Equities markets are witnessing aggressive selling due to increasingly bearish macroeconomic factors, and this is adding sell pressure to Bitcoin and altcoin prices.
XRP is looking extremely bullish on a short-term outlook. In the long game, the timeframe charts show an incredible selling opportunity in the next three months. XRP looking bullish from a short-term perspective Price mid-point of $0.36 is now poised as both key resistance and support zones Ripple to target $1 next However, XRP bulls may need to wait a little longer for a breach to take effect. In June, the crypto was seen to breach the support key of $0.39. Since the support zone was breached, this same level was also poised as the key resistance. XRP price was also spotted to form a range from $0.3 to $0.41, with the mid-point set at $0.36 which acted as both the resistance and support zones. Related Reading: How Litecoin (LTC) Is Able To Muster A 5-Day Straight Rally Chart from TradingView.com XRP Bulls Losing Aggressiveness? In August, XRP is seen to try to breach the $0.39 level for two weeks. However, the bulls are running out of steam sending the price crashing down under the range’s mid-point. The price dropped further down to the $0.30 level after a couple of days. According to CoinMarketCap, XRP price has nosedived by 0.12 % or trading at $0.3558 as of this writing. Technical indicators for the token demonstrate a sudden twist in bearish foreplay. RSI has surged past 50 and hoisted it to act as support showing a strong uptick that could linger for the next couple of days. More so, the Accumulation/Distribution (A/D) line was able to breach the key resistance level spotted in May which is a very critical development so far. But, such development may not validate further progress above the $0.39 level. On the flip side, this would indicate that a breach is a possibility and could happen in a couple of weeks. XRP’s Chaikin Money Flow (CMF) also climbed, surpassing +0.08 showing remarkable buying activity. Spike In XRP Demand Shows Bullish Stance The sudden surge in the crypto’s demand indicates that the bulls may have taken the driver’s seat. However, a breach that would rip off the key resistance may take some time to happen. Beyond the SEC issues, the challenge is breaching the resistance line that has been rock-solid since May 2021. XRP has tested and failed this resistance zone many times but it’s dead-set to retest it again. Flipping the resistance zone will definitely help hoist XRP to target $1 next. Related Reading: Avalanche Outmatches Top Cryptos As AVAX Posts 11% Rally In Last 7 Days XRP total market cap at $17.2 billion on the daily chart | Source: TradingView.com Featured image from Cryptocoin Spy, Chart from TradingView.com
Bitcoin and altcoins sold-off sharply on Aug. 19, leading technical traders to forecast a possible drop to new yearly lows.
Crypto and stock markets corrected as traders grew nervous ahead of August 17’s FOMC minutes, but the real stress point is whether traders will “buy the dip.”
Takeover rumors and an ongoing short squeeze help CEL price rally but is there enough momentum for more upside?
Bitcoin and many altcoins are carving out bottoming patterns as sentiment across the crypto and equities markets continues to improve.
Ripple’s new Value Report on enterprise crypto and blockchain highlights NFT, blockchain and CBDC utility in business settings.
Over 70,000 Ripple (XRP) holders have joined John Deaton’s class action lawsuit against the United States Securities and Exchange Commission (SEC).
The post Over 70k XRP holders join class action lawsuit against SEC appeared first on CryptoSlate.
Bitcoin and most major altcoins have bounced off their strong support levels and may challenge the overhead resistance in an attempt to resume the up-move.
Bitcoin and most major altcoins are witnessing buying near strong support levels, indicating a bullish sentiment.
Bitcoin price has hit resistance at the $24,000 level, resulting in a slight pullback in select altcoins. Is the rally over?
Traders are still buying BTC and major altcoins on each dip, but selling near overhead resistance could be a sign that price action will remain range-bound in the short-term.
Coinbase has strongly denied that it listed securities on its platform, according to a July 21 blog post by Paul Grewal, the firm’s Chief Legal Officer.
The post Coinbase denies listing securities, says SEC should provide regulatory framework appeared first on CryptoSlate.
Despite July 20’s pullback, the market structure of BTC and most altcoins is still showing early signs of a trend reversal.
On CoinMarketCap, XRP has risen to sixth place as of today, July 20, with a market value of $17.63 billion. Being able to exceed not just Binance USD but also Cardano and Solana is a noteworthy accomplishment for Ripple’s native currency. Ripple’s native token, XRP, provides a means of payment settlement between banks and digital assets exchanges. It decreases the number of extra steps needed when transferring money internationally, which leads to lower fees. Related Reading | Solana And Avalanche Poised For Gains As Crypto Market Enjoys New Tailwinds However, by breaking through significant resistance, XRP overtakes Binance USD’s market cap and gains the upper hand by 8%. The primary factor contributing to XRP’s placement in sixth place is the coin’s weekly price increase of more than 21%. There is much more to be done for the battle between Binance USD and Ripple. However, both are still trying very hard to make headway which, under the right conditions, could lead to them taking fifth or fourth place- or even third and second place- in addition to keeping their original standings of sixth and seventh. Following news updates on the SEC v. Ripple lawsuit, the more optimistic investor attitude led to an increase in the coin’s price. Fans and developers of Ripple are now closely following the U.S. SEC’s continuing lawsuit against the business, which appears to be interesting, according to the most recent news. Analysis Of Ripple (XRP) Struggles to Regain its Value In terms of the lifespan of cryptocurrency, Ripple is one of the longest. When it was first introduced in 2012, it frequently traded for less than $0.10. However, when the crypto market experienced a boom in late 2017 and early 2018. XRP was one of them which gained much from this boom and recorded its all-time high on January 4, 2018, at $3.84. The coin soon started to decline, and by the end of 2018, it was only worth $0.50. By then, XRP’s value continued to decline. The coin was in the early stages of a bull run that ended on April 14, 2021, when it touched an average high of $1.96. Since the beginning of September 2021, the sixth-largest coin has struggled, dropping more than half of its value, while dozens of other cryptocurrencies have collapsed in this period. The situation worsened in January 2022 when a sluggish cryptocurrency market caused XRP to end the month at $0.6191. Following that, it fell even further, reaching $0.345 on May 12 due to the market turbulence caused by the de-pegging of the TerraUSD stablecoin and the demise of LUNA. Related Reading | Why Bitcoin Must Beat $25,500 To Establish A Bull Rally It was valued at about $0.40 on June 10. Following that, the cancellation of withdrawals by the cryptocurrency lending firm Celsius confirmed that the cryptocurrency market is in a bear market, and on June 18, it dropped to $0.2906. However, it has already bounced back from its June low and is presently trading at $0.366650, up 12.6% in 14 days. In addition, the Finder’s panel forecasts that the price of Ripple (XRP) will increase by almost 260 % in 2022 and reach $2.55 this year at the end of December. Featured image from Flickr, chart from Tradingview.com
US lawmaker Brad Sherman has questioned why the Securities and Exchange Commission (SEC) has not gone after crypto exchanges facilitating Ripple (XRP) trades if it considers it to be a security.
The post US Congressman questions SEC’s lack of action against ‘big fish’ exchanges if Ripple is a security appeared first on CryptoSlate.
Since December 2020, Ripple hasn’t rested from negative anticipations of a crash. Instead, the crypto that seemed promising from inception started plummeting when the United States Securities and Exchange Commission (SEC) sued it. The accusation was that the company raised more than $1.3 billion illegitimately. As a result, SEC held the co-founder Christian Larsen and Bradley Garlinghouse, the CEO, accountable for the illegal gains. The court case has already lasted for more than one year. But, surprisingly, on April 14, Ripple CEO Brad Garlinghouse stated that the fight had gone very well. Moreover, his statements and results seem to have yielded favorable fruits for the crypto. Related Reading | Liquidations Cross $230 Million As Ethereum Barrels Past $1,400 In recent news, Ripple co-creator Jed McCaleb declared his intentions to stop dumping XRP. McCaleb is also the founder of Stellar and holds at least 5 million Ripple coins as of writing. In the past, McCaleb had already sold most of his 9 billion XRP holdings. He continued selling his XRPs until it now remains 5 million only. But recently, have decided to keep the remaining coins to secure his family. The Ripple CTO jokingly told sources that he wouldn’t be selling his XRP coins. Instead, he will hold them awaiting when the coins spikes in price. According to him, if 1 XRP sells at $589, he will become a rich man. Another news revealed that the CTO had earlier sold more than half of his remaining 5 million XRP. But after a few days, he bought another 2.8 million coins to top it. McCaleb mentioned that his decision to add up to the coin was sudden. However, he disclosed that his mind wouldn’t rest until he replaced the coins. In his statement, there’s a possibility that his remaining XRP coins will provide the security he needs for his family in the future. Ripple And SEC Court Issues Continue Amid all these, the battle between SEC and Ripple is still ongoing. A recent report revealed that the presiding magistrate rejected the SEC’s attorney-client privilege claims. Instead, Judge Sarah Netburn refused the claims and mandated that every document must be disclosed. The Securities and Exchange Commission insisted on concealing documents about William Hinman’s speech. But the Judge refused such a notion, instead calling the act hypocritical. SEC maintains that the document is irrelevant to cryptocurrency regulation while implying that Hinman depends on SEC counsel for advice. Related Reading | TA: Ethereum Outpaces Bitcoin, Why ETH Could Rise To $1,500 The document they seek to hide carries where Bill Hinman declared that Ethereum isn’t a security. These documents and others like it will help Ripple fight against SEC. That’s why the commission is fighting to conceal it. Featured image from NewsBTC, chart from TradingView.com
A crypto lending platform still hopes to stay afloat, but experts doubt such probability.
Did Bitcoin bottom? The weekend crypto rally has extended into the start of a new week, leading traders to question whether the bottom is in.
Last month, it was reported that the co-founder of Ripple, Jed McCaleb was close to emptying his xrp wallet that held 81 million tokens worth $26 million. Following a transaction that saw 3,898,451 xrp transferred out of the address, McCaleb’s wallet is now close to being empty as there’s only 47.6912 xrp worth $17 stored […]
Despite the recent sluggishness of XRP, the token is performing significantly better compared to other coins. The bulls successfully defended the $0.3 support and tried to reverse the trend by breaching above the crucial resistance.
As the price has no…
There has been a long ongoing lawsuit between Ripple (XRP) and the United States Securities and Exchange Commission (SEC). Throughout the case, Ripple’s native token, XRP, has not seen any progressive growth. This stagnation in its price move has lingered even before the emergence of the extreme crypto winter. But things seem to be taking a dramatic twist for XRP recently. With the ruling of the case, the price of XRP is positively waking. Also, the crypto coin is gradually becoming the leading choice for most BSC whales. Related Reading | Bitcoin Funding Rate Turns Highly Positive, Long Squeeze In The Making? XRP has shown more stability amid the collapse in the broader crypto space. It’s among the rare tokens that have not demonstrated a massive swing in value. Within 30 days, the XRP price has displayed a 1% marginal increase. This impressive trend is quite the opposite of the king of crypto Bitcoin. The price of BTC has dipped by almost 10% within the same period. WhaleStats showed that XRP has suddenly risen as one of the most used smart contract tokens. It noted that this trend has persisted over the last 24 hours among the 1,000 and 500 BSC whales. Also, the record from the firm displayed that the top 2,000 huge investors on BSC hold large XRP tokens worth about $15.09 million. Following the announcement of the long-running lawsuit between Ripple and SEC, the hike in the whale activities for XRP heightened. Through Judge Netburn’s pronouncement, the court has denied SEC’s assertions over Himan’s ETH speech. Also, the commission received the court’s mandate to produce all relevant internal documents. The court order stated that the commission is expected to submit the two proposed redactions to enable in-camera review by the court. Ripple’s attorney noted that the SEC could appeal the court’s decision to Judge Torres. Also, the SEC could demand up to one or two weeks as an extension for filing the objection. Ripple XRP Gets More Listing of Pairs In a new development, the Bitrue crypto exchange is offering its support to Ripple XRP tokens. According to the exchange’s statement, it would list up to 10 XRP pairs on its platform for customers. In addition, the exchange stated that its pair would be on crypto SAND, MANA, AAVE, BTTC, ALGO, AR, APE, CHZ, HBAR, and DENT. Related Reading | Market Update: MATIC, UNI And AAVE Outperforms While Bitcoin Strugles To Hold Above $20k Data from reporting source highlighted that XRP is currently trading at $0.35 at the time of writing. With a trading volume of about %1.11 billion. Ripple XRP still maintains its market cap, which is more than $15.22 billion. Featured image from Pexels, charts from TradingView.com
Bitcoin and many altcoins are back at key overhead resistance levels, but will bulls gather enough momentum to produce a sustained breakout?
Bitcoin price saw a brief pull-back following July 13’s high inflation print, but the rebound seen in BTC and altcoins suggests that buyers are buying the dip.
Ripple Co-founder Jed McCaleb will sell out his XRP holdings this week, according to a tweet from the founder of XRPArcade, Leonidas, on July 10.
The post Ripple co-founder Jed McCaleb to finish selling XRP holdings by July 16 appeared first on CryptoSlate.
Bitcoin and select altcoins are discounted and trading close to critical support levels, but will buyers step in?
The crypto community got a major surprise two years ago when a leading provider of crypto solutions for businesses was slapped with a lawsuit by the U.S. Securities and Exchange Commission.
Ripple was taken to court by the SEC, which sparked what has b…
Bitcoin and select major altcoins have risen from their recent lows, signaling an increase in volatility in the near term.
The Ministry of Information Technologies and Communications of Colombia, Mintic, has issued a guide that describes the steps to implement blockchain in projects directed at the state level. The document defines blockchain and its basic elements, and also describes the guidelines that some projects should follow, depending on the needs of each project. Colombia Issues […]
Bitcoin and select altcoins are making an attempt at flipping key resistance levels, but negative news-flow and selling from BTC miners could continue to weigh on market sentiment.
Bitcoin and altcoins have held their immediate support levels, suggesting the start of a relief rally in the short term.
The government of Colombia announced a new system that will allow it to use the Ripple Ledger to store and authenticate property titles. The system, which was developed by a third-party company called Peersyst Technology, aims to allow the National Land Agency to issue a record number of land adjudications for citizens. Colombia to Register […]
After selling billions of xrp tokens since 2014, the former Ripple Labs executive Jed McCaleb only has 81.53 million xrp left to sell. In mid-February 2021, it was expected that McCaleb’s stash would run dry that year in May. However, the selling took much longer, but today’s data shows there’s only $26 million worth left. […]
Traders expect Bitcoin to swoop below its swing low before the price flattens out and altcoins begin to recover.
Bitcoin and altcoins gave up the gains of last week’s relief rally and June 29’s dip below $20,000 suggests bears are intent on pushing the market back to its yearly lows.
Bitcoin and altcoins are facing profit-booking after the recent relief rally, but charts suggest that a revisit to recent swing lows could be in store.
A handful of on-chain metrics suggest that Bitcoin could be close to bottoming, and if true, the eventual relief rally could induce sharp gains from altcoins.
XRP rose by nearly 15% during today’s session, climbing to its highest point in over a week in the process. This rise in momentum within the crypto market also saw AVAX hit a 12-day high, following a gain of over 11% on Friday. XRP Bullish pressure in XRP intensified on Friday, as prices rose to […]
Macro risks and a long-term bearish setup continue to spoil XRP’s bullish prospects.
“The SEC [decided] to do regulation through enforcement, which is not efficient and really I think has stifled innovation in the United States,” said Brad Garlinghouse.
BTC and select altcoins attempted a reversal, but are facing heavy selling at higher levels, which is proof that bears remain in control of the wider market.
Bitcoin and select altcoins attempted a relief rally, but most breakouts are being capped-off well below the 20-day moving average.
Bitcoin price struggles to hold support at $20,000, and the outcome of this battle between bulls and bears will determine the next directional move.
XRP’s bearish outlook is driven by a mix of technical and fundamental factors that could see its price drop to $0.18 next.
XRP has been hovering within a price range over the past few days. Over the last 24 hours, the coin attempted to move slightly on the upside. The market movers also noted slight uptick on their charts after the Federal Reserve raised interest rates by 75-basis points. Technical outlook for XRP continues to paint bearish picture for the coin. The altcoin could soon attempt to move near its next support zone. Price of XRP has just managed to remain above the $0.30 mark. Immediate fall will push the coin to trade near the $0.24 price level. Sellers are still in panic mode as the asset continues to hover near the extreme selling zone on the chart. Bulls have tired out as choppiness has taken over the market, XRP over the last two days flashed an increase in buying strength but as the coin fell in value again, sellers have taken over. The global cryptocurrency market cap today is at $941 Billion with a fall of 0.5% in the last 24 hours. XRP Price Analysis: One Day Chart The altcoin was at $0.31 at the time of writing. It seems to have found its support at the $0.24 price level. After consolidating between $0.40 and $0.30 levels respectively, its looks as though further downside could be on the charts. Overhead resistance could be pointed at $0.38 as the coin has struggled to move past that aforementioned level lately. In the last week itself, XRP slumped by 22%. At the moment, the altcoin has fallen by 90% from its all time high value of $3.40. Price of XRP last touched these lows in the month of February 2021. Trading volume displayed an increase signifying a sell-off. The bar was in the red which is a signal of bearish price action prevailing in the market. Technical Analysis The asset has touched the oversold region a couple of times both in the month of May and June. Over the last 48 hours, XRP tried recovering from the undervalued zone but again noted a fall in buying strength. In conformity with the same, Relative Strength Index displayed a downtick and was moving close to the 20-mark. Continued selling pressure can again make XRP fall to the oversold region. Directional Movement Index determines the direction of price change and the current price momentum. DMI was negative as the -DI line was above the +DI line. ADX (Red) was steady above 40, which signified strength in the current price momentum. This meant that XRP could move further south. Related Reading | XRP Consolidates, Is It Going To Retrace Now? Bollinger Bands indicate price volatility or incoming price fluctuations in the market. In the above chart, Bollinger Bands opened up which is a sign of increased price volatility. Going by the other indicators that point towards bearishness, the opening up of the bands can also mean a further depreciation of price in the near term. Awesome Oscillator displayed change in price trend and flashed red signal bars. These red signal bars are linked to sell signal for the asset. Going by the charts, Ripple might stay near the $0.30 price level a little longer before the buyers cause the price to move upwards. Related Reading | Bitcoin Amidst Relentless Sell Off; Is It Targeting $13,000 Now? Featured image from UnSplash, chart from TradingView.com
BTC and select altcoins notched small gains after the Federal Reserve rolled out a 75 basis point rate hike, but technical analysis suggests that further downside is the most realistic outcome.
Bitcoin and altcoins are seeing heavy selling as June 13’s massive unwinding could be the final capitulation-level event before the market finally hits a bottom.
BTC and altcoins are on the verge of falling below critical support levels, and June 10’s higher-than-expected CPI report isn’t helping.
Bitcoin and altcoins are losing bullish momentum and persistent selling at overhead resistance suggests that the current consolidation is far from over.
BTC and altcoins flashed green at the weekly open, but overhead resistance levels will continue to pose a challenge in the short-term.
While visiting the World Economic Forum (WEF) event in Davos, Ripple Labs CEO, Brad Garlinghouse discussed the firm’s growth opportunities and despite the crypto economy’s downturn, Garlinghouse spoke about future mergers and acquisitions. ‘I Think We’re More Likely to Be the Buyer,’ Ripple Labs CEO Brad Garlinghouse Said During an Interview in Davos Just recently, […]
XRP among other leading altcoins have been consolidating on its chart. Bitcoin slid below the $30,000 price level which has dampened the price action of altcoins. Over the last 24 hours, XRP made no price movement. In the last 24 hours, the altcoin gained a minor 2.4%. On the chart, the coin displayed bearish price action as the coin might be breaking the consolidation. The coin currently has found support at $0.34. The coin last touched the price level in the month of February 2021. If the coin pushes below further then it may touch the support level of $0.28. The global cryptocurrency market cap today was at $1.28 Trillion with a 0.7% positive change in the past 24 hours. If bulls still continue to struggle to break past the $0.43 resistance level then the coin is headed for another downslide. XRP Price Analysis: One Day Chart The coin was trading at $0.38 at the time of writing. The local support level for the coin stood at $0.33. If the coin continues to experience selling pressure then it could fall to a low of $0.28. Overhead resistance for the coin stood at $0.40. For the bulls to be back, XRP needs to break past the aforementioned price resistance and trade near $0.43. The volume of XRP traded had plummeted as seen on the one day chart. The volume bar was seen in the red which showed bearish significance in the market. Technical Analysis The buying strength tried to rise on the chart. After the coin was oversold it recovered slightly as seen on the Relative Strength Index. At the time of writing, the RSI was above the oversold zone, despite the same selling pressure was strong in the market. The price of XRP was struggling to move over the 20-SMA line. At press time the coin was still below the 20-SMA signifying that bears were driving the price momentum in the market. In case the demand for the coin shows up, the coin can move above the 20-SMA line which could push XRP to trade near $0.40 price mark. Related Reading | Arthur Hayes Says Ethereum (ETH) Could Reach $10K Level By The End Of Year XRP could soon bottom out and then aim for the next resistance level. The coin displayed a buy signal on the chart. The Awesome Oscillator depicts the price momentum and it displayed a change in price momentum. The green signal bars on the AO are synonymous to a buy signal which can also mean a change in the price action. The Directional Movement Index was positive which corresponded with the AO. The +DI was above the -DI line indicated bullish build-up. The Average Directional Index was also above the 40 mark and that is a mark of price trend strengthening in the market. Related Reading | Polkadot At $9.30, But Is There A Chance Of Slight Shift In Trend?
BTC and altcoins met resistance at a key moving average, leading traders to wonder whether the current pullback is a lower support test, or proof that bears are still in control.
The elusive relief rally that BTC and ETH traders expected has arrived, but will the market sustain enough bullish momentum to catalyze a trend change?
Bitcoin and most major altcoins have not tracked the recovery seen in stocks, a possible indicator that further downside is possible.
The total supply of XRP circulating in the market is now at 48.3 billion from the total XRP supply of 100 billion. XRP whales currently hold from 1 million to 10 million XRPs and are on a massive hoarding spree with an uptick in supply stretching out t…
Bitcoin and the major altcoins remain stuck in a range as traders search for the next factor that will start a directional move.
Bitcoin and the major altcoins have bounced off their immediate support levels, paving the way for a possible relief rally in the short term.
Ripple (XRP) has plummeted to $0.43, with bears now skyjacking the market following a tremendous drop in the past week.
While the price seems to have improved in the past couple of days, the bulls have somewhat shoved bears to their current market mov…
Brad Garlinghouse, the CEO of cross-border payments company Ripple, spoke during a panel discussion at the WEF 2022.
Following the massive dump in the past week, Ripple price regains its stance on a long trend. Moreover, bulls must tower the bears in this current market momentum. Last week wasn’t a good trading week for Ripple buyers, as the XRP token recorded a massive 42% loss. As a result, the week closed below $0.4255. Notably, the entire week had the token’s price steadily following a huge bearish trend, declining to $0.4018 before climbing back to $0.4123 and terminating there for the week. Notably, most indicators have been engrossed in the oversold zone, implying the possibility of a temporary uptrend. However, the token’s price must create a higher low and higher high to validate this momentum reversal. This also means that the bulls must push XRP’s price up to $0.65 before it can create form a bullish trend. What Are The Odds? Due to the massive decline, one can only expect the XRP token to record a bullish momentum, or bullish mean reversal, temporarily. On the other hand, we can expect it to be short-term, given the present market structure. The technical oscillator’s value shows that the token tested the all-time-low (ATL) in the hourly, daily, and weekly charts. Related Reading | More Stress For El Salvador As Bitcoin Dips To $29,000 It’s also worthy to note that the token’s price is still trading below the 50-day & 100-day Exponential Moving Average (EMA). Thus, a rejuvenated buying pressure would force the price to reach the 50-day Exponential Moving Average before testing the psychological $0.50 mark. On the other hand, a decline in the bearish momentum would cause the coin to continue in a steady decline or downtrend. Should XRP break below the current session’s low value, it’d test Friday’s low at $0.40. Technical Indicators Moving Average Convergence Divergence: The MACD trades underneath the midline with steadily growing bullish momentum. Relative Strength Index: The RSI hovers close to the average line, having no stated directional bias. A Brief On Ripple? Ripple is an innovative crypto project that functions very interestingly as a cryptocurrency and a payment gateway. Created by the Ripple Labs, the Ripple crypto project enables users to facilitate payments, cryptocurrency lending, and other financial platforms. While Ripple enables worldwide payments, the XRP token allows users to swap between cryptocurrencies. Related Reading | Exchange Inflows Rock Bitcoin, Ethereum As Market Struggles To Recover Notably, Ripple was established in 2012 by Chris Larsen together with Jed McCaleb. Four years after then, the company purchased BitLicense from New York State to increase the integrity of its XRP token. However, following the global cryptocurrency crackdown, Ripple dropped by over 21% and struggled within that zone for a long time. Featured image from Pexels, chart from TradingView.com
BTC and altcoins produced the occasional relief rally, but technical analysis suggests that the prevailing trend will remain bearish for some time to come.
Ailing stock markets continue to impact crypto prices and technical analysis suggests BTC is at risk of falling below its recent $25,500 low.
BTC and most altcoins are facing strong selling at the top of each rally, but the short-term downside could be limited since Bitcoin bulls keep buying each dip.
Ripple (XRP) rallied to $0.439217 Friday from $0.377384 on Thursday in the face of an ongoing Securities and Exchange Commission lawsuit following the comments of William Hinman, former SEC Corporate Finance director.
Suggested Reading | Crypto Analyst…
Traders are hopeful that Bitcoin can stage a relief rally within the $30,000 to $35,000 range, but selling at resistance could still keep BTC and altcoins in a strong bear trend.
The implosion of the Terra ecosystem appears to be manifesting contagion that is negatively impacting Bitcoin and altcoins.
BTC and many altcoins are fast approaching the “capitulation phase,” which is typically followed by the market finding a bottom.
The development marks the first time XRP digital currency will be used on a cross-border Japanese e-commerce site.
On May 4, the product comparison platform finder․com published a ripple price prediction report that polls 36 fintech specialists. According to findings stemming from the participating panelists, ripple could jump to $2.55 per unit by December 2022. However, the prediction relies on Ripple Labs winning or settling its lawsuit with the U.S. Securities and Exchange […]
Bitcoin and most altcoins could remain volatile in the short-term due to the Fed’s decision, warranting caution from traders.
Banco Galicia, one of the largest financial institutions in Argentina, has introduced cryptocurrency trading as part of the services it is currently offering to customers. Users interested in investing in cryptocurrency are already able to purchase four different crypto assets directly from the home banking app of the financial institution, making it reportedly the first […]
On this week’s episode of “The Market Report,” Cointelegraph’s resident experts discuss the most bullish cryptocurrencies at the moment.
XRP price shoots 6% over the past 24 hours despite suffering a slump of 28% on April 16. The crypto was able to bounce back on May 1 and get stronger by the day with a surge of 12%.
XRP is set on its road to recovery in the coming weeks.
The United States Securities and Exchange Commission (SEC) is unwilling to produce documents that show its former finance director, William Hinman, stated that Bitcoin and Ethereum were not securities, according to a tweet from James Filan, a lawyer representing Ripple.
The post SEC looks to prevent Ripple from getting vital document about its case appeared first on CryptoSlate.
BTC and altcoins are holding at their current support levels, but this week’s comments from the Federal Reserve could be a determining factor in short-term price action.
The bounce-back move has occurred near a technical support confluence, raising XRP’s possibility to rise 30% in Q2/2022.
Bitcoin’s inability to hold above $40,000 has traders now targeting extreme lows in the $25,000 zone, a move that would be absolutely deadly for most altcoins.
BTC and select altcoins could be gearing up for an oversold move, but traders beware, it’s likely to be a dead cat bounce.
One of largest VC deals so far in Q1 2022 went to Miami-Based Yuga Labs with its $450 million seed funding round led by Andreessen Horowitz.
Bitcoin and select altcoins are attempting a recovery, but the most likely outcome of any breakout is strong selling at higher levels.
A descending triangle breakdown coupled with XRP’s correlation with Bitcoin can put downward pressure on price.
Executives of Ripple Labs and the US Securities and Exchange Commission have agreed to prolong the timeline of their lawsuit and postpone court proceedings until the end of 2022, implying that their legal standoff would likely last well into next year….
Ripple, the cryptocurrency and payments company, has issued an article examining the opportunities that Latam brings for crypto companies as its regulated payments rails come to crypto. While the region faces some obstacles due to its economic traits and the dominance of centralized banks, the organization believes there is a lucrative opening for companies partnering […]
Bitcoin and altcoins continue to bounce off underlying support areas, raising the chance that a sharp down-side move could occur.
BTC and altcoins remain stuck within a tight range, suggesting that the sideways trading could continue in the short-term.
As one of the most influential people in the crypto space, the CEO of Ripple says he owns Bitcoin and other cryptocurrencies. But to him, only promoting Bitcoin will stop industry growth. As a result, the crypto industry could potentially lose millions for miners with less incentive than before if nothing changes soon. At the CNBC event, Brad Garlinghouse, CEO and founder of Ripple, recently said that the tribalism around Bitcoin and other digital currencies has been holding back the industry’s growth. Related Reading | Could Netflix Tumble Down The Crypto Market? “It is not good when people in the cryptocurrency space are divided into tribes,” said Garlinghouse at a CNBC-hosted fireside chat last week at the Paris Blockchain Week Summit, in an interview that was published today on CNBC. When asked about his thoughts on XRP, Garlinghouse shared that he is indeed invested in other notable digital currencies such as Bitcoin and Ethereum — despite being charged by the SEC for playing an integral role in the $1.3 billion sales of unregistered securities offerings. Garlinghouse said, “I own bitcoin, I own Ether, I own some others. I am an absolute believer that this industry is going to continue to thrive.” “All boats can rise,” says Garlinghouse. “Adopting other digital currencies, we see this as an opportunity for growth and adoption outside of XRP.” Ripple CEO On Industry Growth When asked about investors who have devoted their funds exclusively to bitcoin, Garlinghouse did not mention any names. Still, people in the cryptocurrency industry focus on just one coin. He said; Tribalism around bitcoin and other cryptocurrencies is holding back the entire $2 trillion market. One most prominent example of Bitcoin tribalism is Jack Dorsey, the former Twitter CEO and founder of Square Inc. He has publicly declared support for Bitcoin on several occasions. In addition, he recently sponsored research to foster its development as an asset class to make it more accessible in society. Earlier this year, Dorsey said that he is a Bitcoin maximalist. As a result, he doesn’t plan on adopting any other cryptocurrency soon, including Ethereum. Another example of a Bitcoin tribalist is Michael Saylor, the CEO of MicroStrategy. He has converted a vast percentage of company reserve cash into Bitcoin. Related Reading | Bitcoin Bounces Back Past $40,000, But May Struggle To Maintain Position The company is a major player in the crypto market, with its holdings totaling over 129,000 Bitcoins. Garlinhouse said the problem with this maximalism is that it has frustrated efforts to lobby U.S. lawmakers. Most representatives would mainly agitate for the cryptocurrency they own rather than taking an interest in what’s best for everyone else. Garlinghouse added; The lack of coordination in Washington, D.C., amongst the crypto industry, I find it to be shocking. Featured image from Pixabay, chart from Tradingview.com
Bitcoin and select altcoins slipped below their immediate support levels, opening the door for further downside.
Ripple rejoices, the SEC gets challenged to a narrative battle and Brazil moves ahead with crypto legislation.
Technical charts indicate that Bitcoin, XRP, LINK, BCH and FIL may be on the verge of a sharp breakout, but traders are unsure of the direction.
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP “has gone exceedingly well.” He stressed: “This case is important, not just for Ripple, it’s important for the entire crypto industry in the United States.” Ripple’s CEO Comments on SEC […]
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP “has gone exceedingly well.” He stressed: “This case is important, not just for Ripple, it’s important for the entire crypto industry in the United States.” Ripple’s CEO Comments on SEC […]
The event included commentary from CZ, Brad Garlinghouse and Paolo Ardoino on topics of crypto regulation, the SEC lawsuit and European nations adopting digital assets.
In an interview with CNBC, Ripple CEO Brad Garlinghouse revealed to feels optimistic about the company’s future and its legal battle. The payment solution company was sued by the U.S. Securities And Exchange Commission (SEC) in 2019 for the alleged illegal sales of a security, XRP. Related Reading | Price Analysis: Where’s XRP Headed After Ripple’s Big Win Initially, the battle was expected to be an easy win for the regulators. This had a negative impact on the price of XRP, the cryptocurrency that powers the XRP Ledger, and some of the products from the payment company. However, Ripple has been using its resources and appears to be turning the table in its favor. In court, the payment solution company has presented evidence that claims the SEC was made aware of XRP, and Ripple’s business model with the cryptocurrency using a product called Ripple Network. The evidence goes as back as 2013 and includes documents that suggest the SEC failed to provide clarity over the digital asset’s classification as a security. According to legal experts, the evidence could demonstrate to the court that Ripple was actively seeking to remain compliant with U.S. securities law. In that sense, Garlinghouse told CNBC the following on his perception of the status of the case: The lawsuit has gone exceedingly well, and much better than I could have hoped when it began about 15 months ago. But the wheels of justice move slowly. Other evidence has come to light that could continue to favor Ripple. As highlighted by CNBC, the judge handling the case ruled against the SEC editing emails about how it has treated XRP and other cryptocurrencies, including Ethereum. The second crypto by market cap, there are currently no standing cases against it as it is not deemed a security. If Ripple can successfully argue that XRP and ETH operate as decentralized cryptocurrencies, could score a win in its legal pursuit. Ripple Touched Bottom, Only Up From Here? Despite the legal battle, Ripple has not seen a slowdown in its operations. According to its CEO, the company is “already operating in the worst-case scenario”, but registers “record growth” outside of the United States. On the other hand, the XRP token records a 7% profit in the last 24-hours potentially as a reaction to Garlinghouse’s statements. The market seems to be positively pricing any development around the legal case with the SEC, but the macro-economic outlook still seems unfavorable for risk-on assets. On higher timeframes, the token still trends to the downside far from its $2 high in 2021. A positive conclusion of the case could send XRP to those highs. Related Reading | Ripple Vs. SEC: XRP Showing Strength In The Legal Fight As New Evidence Arises Garlinghouse added the following on the importance of Ripple’s case for the crypto industry: This case is important, not just for Ripple; it’s important for the entire crypto industry in the United States. It would really be negative for crypto in the United States (…). If you determine XRP as a security of Ripple, we have to know every person that owns XRP. That’s an SEC requirement. You have to know all of your shareholders. It’s not possible.
Bitcoin and altcoins continue to face selling at higher levels, indicating that the bears are not willing to let go of their advantage.
During what can be described as a choppy trading session, it was XRP which was one of the most notable gainers, climbing to a one-week high. While ripple rose, NEAR was once again lower, falling by as much as 10% on Friday. XRP While crypto markets were mainly in the red, XRP was one of […]
Ripple CEO Brad Garlinghouse told attendees of the Paris Blockchain Week that the ongoing case with the SEC is going exceedingly well.
Bitcoin and altcoins are attempting a recovery, but the bulls are likely to encounter stiff resistance at higher levels.
XRP risks plunging to $0.50 in April as it breaks out of a classic bearish continuation structure.
BTC and altcoins broke below their lower support levels, signaling that further downside is the most likely short-term outcome.
The strength in the U.S. dollar may keep Bitcoin and select altcoins under pressure in the short term.
BTC and select altcoins dropped far below their strong support levels, a clear sign that the recent bullish momentum has weakened.
Panelists who spoke at NFT LA shared their thoughts on Web3, innovative use cases and the future of nonfungible tokens.
BTC and altcoins are dropping to retest lower support levels and bulls have yet to buy into the current dip.
This is huge! Kraken now supports Lightning Network deposits and withdrawals. The suddenly popular second Layer protocol keeps growing and gaining importance. “Finally, traders have an instant and inexpensive way to move bitcoin on and off the platform,” Kraken said in their official announcement. The Lightning Network is much more than that, though. What will happen once Kraken’s extensive clientele tries out Lightning transactions? Will the phenomenal experience change the way they see bitcoin? The second layer solution can process millions of transactions per second and all operations cost pennies and offer final settlement. There are also privacy gains in using it. The huge innovation, though, is the cash-like experience. The Kraken integration comes with a Lightning node of their own. The company used LND by Lightning Labs to implement the node. The reason is that “they have the largest user base and we have a lot of people on the network that have lots of experience with LND. So it has proven to be easy to use and very reliable as well.” That’s according to Kraken’s bitcoin product manager, Pierre Rochard, who also said to Bitcoin Magazine: “Adoption is going to come from people who have fiat in their bank account, and they need to get it into Bitcoin. Kraken is providing an excellent venue for them to do that, and then they can top up their mobile Lightning wallet and use it as a medium of exchange. That’s clearly the next step in terms of Bitcoin’s evolution.” Designed with this and the cash-like experience in mind, Kraken limits deposits and withdrawals to 0.1 BTC. BTC price chart for 04/02/2022 on Binance | Source: BTC/USD on TradingView.com Kraken Announced Lightning Network Integration In 2020 Even though this looks like it magically happened, the integration had been in the works for a while. In 2020, Kraken stated its intentions: “In 2021, we are committed to hiring a team to focus specifically on the Lightning Network, as part of our continuing effort to deliver the best possible experience for traders and investors. We expect to allow clients to withdraw and deposit Bitcoin on Lightning in the first half of 2021, which will allow clients to move their Bitcoin instantly and with the lowest fees.” It took a while, but it’s finally here. Market-wise, will this move the needle in favor of bitcoin? Will the world even notice? According to this list, Kraken became the 23rd exchange to support the Lightning Network. Among the giant ones that are onboard are Bitfinex, OKEx, OKcoin, BitMex, and Bitstamp. Among the up-and-coming ones, BullBitcoin, Buda, CoinCorner, Kollider, and Boltz. This also means, that you’re able to instantly move the lightning payment you received to @krakenfx to exchange it for fiat, basically reducing the currency exchange risk to zero.This completely changes the dynamic for fiat brick and mortar stores.https://t.co/bpNzKC7ZDL — zero fee routing ⚡ (@zerofeerouting) March 31, 2022 And, since we’re on lists, in their announcement Kraken provided Lightning wallet recommendations: “For example, BTCPay Server enables Lightning payments for merchants, greatly improving the bitcoin checkout flow. For consumers, Breez, Phoenix and Muun bring Lightning to mobile with a modern user experience.” As to the importance of the move for markets and business, a pseudonymous Lightning node operator that goes by “zero fee routing” puts everything in perspective. “This also means, that you’re able to instantly move the lightning payment you received to Kraken to exchange it for fiat, basically reducing the currency exchange risk to zero. This completely changes the dynamic for fiat brick and mortar stores.” Attacking The ESG FUD Head On The increase in Lightning Network adoption also brings a great opportunity with it. The community could clean up the disgusting ESG-based narrative enemies of bitcoin have been planting in mainstream media. Regarding this, in the already quoted interview Kraken’s Pierre Rochard said: “With Lightning, you can send a payment off-chain that is much more energy efficient, not only because you’re not adding the miner fees, and thus the amount of electricity consumption by miners, but also because that payment only has to be stored and shared by the two parties in that channel.” Do Greenpeace and Ripple not know that most bitcoin transactions are going to be off-chain in a few years? Do they not know that the Lightning Network alone will take bitcoin out of the conversation its enemies have been carefully manufacturing? Kraken certainly knows. And took action. Speaking about Kraken, its CEO Jess Powell has been present on the news lately. He recommended buying bitcoin below $40K. During the Canadian crisis, he recommended bitcoiners to take their funds out of centralized exchanges. And he refused to voluntarily ban Russian users, providing a convincing rationale to justify Kraken’s actions. Featured Image by Ferhat Deniz Fors on Unsplash | Charts by TradingView
Bulls set their targets on new highs now that the brief consolidation phase in BTC and altcoins appears to have ended.
BTC and altcoins could enter a short consolidation phase before retesting their breakout levels, a sign that the current price action could be a buying opportunity.
Bitcoin and select altcoins are showing signs of starting a new uptrend, indicating that the sentiment may have turned from selling on rallies to buying on dips.
BTC and most major altcoins could witness a minor dip to retest lower support levels, but the overall trajectory appears to now favor bulls.
Bitcoin and most major altcoins remain close to their overhead resistance levels, indicating the possibility of more upside.
Bitcoin and most major altcoins are attempting to sustain above their immediate support levels, signaling a possible change in the short-term trend.
Select altcoins are outperforming the market despite Bitcoin struggling to sustain the higher levels.
The first two waves of the XRPL grant have offered $6 million in funding to 50 open source projects built on the XRP ledger.
Bitcoin and select altcoins have broken above their immediate resistance levels, indicating the start of a relief rally.
Ripple’s latest victory pushed XRP on the bullish trajectory in the past 24 hours. The federal judge ruled that Ripple could push for fair notice as it is completely entitled to do so. This meant that Ripple’s central arguments against the U.S Securities and Exchange were validated by the court in the ruling against SEC’s motion. Judge Analisa Torres, denied SEC’s motion to stop Ripple from using the “Fair Notice Defense”. Ripple for the longest time had expressed concerns over the same by stating that SEC hadn’t given them enough notice that it considered XRP to be a security. Following this news, XRP was northbound and attempted to topple over its immediate resistance of a $0.76 price level. In the last 24 hours, XRP registered near about 15% gain and it traded close to $0.84. Currently, XRP is sideways on its charts displaying range-bound price action at the time of writing. In the past week, however, XRP continued to make gains as the coin appreciated by 6%. Related Reading | Dogecoin Spikes 10% After Elon Musk Reveals He’s Not Selling XRP Price Analysis: Four Hour Chart XRP was trading for $0.76 at the time of writing. The coin despite a massive boom in prices had dipped slightly over the last 24 hours. It lost around 2.2% of its value over the past day. The coin was seen moving sideways over the immediate past trading sessions. Overhead resistance for the coin stood at $0.80, the coin despite noting a slight fall managed to remain above its $0.76 mark. The aforementioned price resistance has been a long-standing one for the coin. On the flip side, the support region for XRP stretched from $0.74-$0.71. In case XRP again surges and manages to cross the $0.80 price mark, the coin could witness stiff resistance at $0.85. XRP hasn’t gotten past that point in over a month. From the technical outlook, it seems as though the bears have not given up their momentum completely and continued pressure from sellers could cause XRP to break below its immediate support level. Technical Indicators Trading Volume also noted a significant decrease in the last 24 hours. According to the four-hour chart, the volume of the token traded was much lower compared to the previous trading session. On the brighter side, the bar closed in the green which meant that buyers could be resurfacing soon. It is however not enough to conclude if XRP was regaining strength. On the 20-SMA, prices were spotted below the 20-SMA line. This reading signifies that sellers have gathered momentum and the price movement is being dictated by the sellers. The Relative Strength Index was in accordance with the other indicators, the indicator was seen below the half-line. This marked bearish pressure as selling strength preceded buying strength in the market. The MACD indicator is known to determine the current price momentum. The indicator noted a bearish crossover followed by the presence of red histograms at the time of writing. MACD crossed below its zero-line, which is a sign of bearish pressure. Related Article | Bitcoin Hashrate Swells 15% Since Last Week As Analysts Expect Mining Difficulty To Increase
Ripple CEO Garlington claims a “big win” in the dismissal of an SEC motion while remaining silent about the ruling on his own motion.
The bounce in Bitcoin and select altcoins increases the possibility of a short-term rise in prices.
A combination of technical, fundamental, and social sentiment indicators spell downside risks for XRP after its price rises over 8% week-to-date.