Ethereum has been showing bullish momentum in the last seven days. ETH has gained momentum in the past 24 hours, while other coins are still declining. This rally supports some theories that the asset will rise above the resistance level in the coming days. Weeks after a massive fallout, the second largest cryptocurrency is heading towards a comeback. The FTX crisis, with other macro factors, affected the entire crypto market, with many assets crashing flat. Although there are many uncertainties in the crypto market, hope seems to be returning to the Ethereum community. Related Reading: MATIC Price Battles Under $1 Despite Bullish Signals Vitalik Buterin, the Ethereum co-founder, made a statement urging people to focus on the technology instead of the current prices. The co-founder was confident that Ethereum-based applications for monetary transactions would scale up the blockchain in the long run. Ethereum Whales Are Buying The Dip In Buterin’s notes, he expressed a bullish stance that the decentralized stablecoins and the other applications built on Ethereum could have long-term benefits. Meanwhile, bullish Ethereum holders are taking advantage of the dip to accumulate more Ether positions. According to data from Santiment, Ethereum whales are taking advantage of the low prices to buy more ETH. The blockchain analytical firm tweeted that the shark and whale address, with 100 to 1 million ETH, added 2.1% more coins to their wallets. It could be a sign of bullish sentiment for a price rally in the weeks to come. Ethereum is currently trading at $1,280. Two months ago, before Ethereum transitioned to proof of stake, many investors were bullish about the price increase the upgrade could bring. However, two months after the merger, their hopes got dashed as the asset price continuously dropped. Although the upgrade sought to improve the blockchain’s infrastructure, the co-founder said it could take months to reflect on the ETH price. Bitcoin Stays Down While XRP Surges Amid Whale Accumulations While Ethereum seems to exhibit some bullish trend, Bitcoin is declining with a 24-hour price drop of $0.02%. Other coins are not doing any better, including FTX, except XRP. The report shows that the XRP price increased in the last 24 hours after whale accounts moved over 160 million tokens. According to a report, whales accumulated more than $19 million of XRP tokens from the Bitso crypto exchange. In addition, the report revealed that the tracker recorded another whale addition of 40 million XRP, approximately $15.3 million. Related Reading: Bitcoin Price Prediction: What Elliott Wave Theory Suggests Is Next For BTC The tracker also reported that an account with the name, Ripple, moved more than 50 million XRP of about $19.2 million to an anonymous wallet. These accumulations saw XRP’s price gain a 2% increase in the last 24 hours and are currently trading at $0.3918. The news comes as the XRP lawsuit tends towards a summary judgment. Featured image from Pixabay, chart from TradingView.com
The broader crypto market remains in a bad state regardless of the few positive movements of some tokens. Even popular tokens like Bitcoin and Ethereum do not give investors any hope. This is evident from their current prices of $19,005 and $1,282, respectively, according to data from CoinMarketCap. Multiple factors are backing up the present state of the crypto market. One is the Fed’s quantitative tightening in the Q2 of 2022. While investors have that to contend with, the negative Consumer Price Index (CPI) value released in September has also affected the market. Related Reading: Bitcoin Supply In Profit Continues Decline, But Still Not At Historical Bottom Zone However, the market’s bearish trend may not last long, depending on the upcoming data release. This is particularly true considering the anticipated Consumer Price Index to be released on Thursday. But while the crypto maintains a bearish movement, some tokens appear to stand out in the crowd. A perfect example of picking out is XRP. This digital token seems to have resistance to the ongoing trend of the market. XRP Stands Out Amid Bearish Market The current price of XRP, as per data from TradingView, is $0.4875. Although its 24-hour price change on CoinMarketCap stands at -6.37%, its weekly and hourly rates are -0.10% and 0.01%, respectively. XRP seems to have maintained this positive movement in the last seven days, and chances are that it’ll sustain the trend for a while. In the meantime, the trading volume of XRP in 24 hours is approximately $2.55 billion. Its price position is now in sixth place based on CoinMarketCap’s ranking, and it holds a market cap of over $24.40 billion. Although the XRP token has witnessed some tough times, it still maintains its popularity. Many investors, both retail and institutional, carry out their various transactions using the token. Moreover, experts have already predicted that XRP will maintain a price level above the $1 price mark in the future. The Factor Behind XRP’s Growth Multiple factors contribute to the success of the XRP token, including the power behind RippleNet transactions. Aside from this fact, the market sentiment, rising whales’ activity, and listing updates are major factors contributing to its growth. Related Reading: Here’s Why SUSHI Is Down More Than 10% In The Last 24 Hours XRP whales seem to have increased over the years. With this increase comes a high purchase of the token. In the past 24 hours, more than 270 million XRP tokens have been transmitted between several digital currency exchanges. As per data from Whale Alert, this is worth more than $130.2 million. Moreover, as Bitcoin becomes less affordable for some investors, XRP becomes their best alternative. The constant activity with the digital token remains a major driving force in the crypto market. Featured image from Pixabay and chart from TradingView.com
The XRP price has increased significantly in the past 24 hours. The coin registered over 10% growth in the past day. Over the last week, the coin brought in 10% appreciation as well. Overall, XRP bulls seemed to take control of the charts. The coin could slowly attempt to trade near its next resistance mark, and with growing demand, it could get past that price mark. The support zone for that price rested between $0.43 and $0.39, respectively. It is important for XRP to get back up to $0.51, which has been acting as a rigid price ceiling for the coin. Once XRP moves up beyond $0.51, the coin will strengthen its bullish move. The technical indicator of the coin has signalled an increased bullish momentum. The buyers have returned to the market, albeit with a decline. The decrease in selling strength will help XRP to move past the $0.51 level. The global cryptocurrency market cap today is $978 billion, with a 2.2% positive change in the last 24 hours. XRP Price Analysis: One Day Chart The altcoin was trading at $0.43 at the time of writing. XRP price had rallied sharply to $0.56 and then retraced on its chart. Over the past day, however, the coin started to move up on its chart. The immediate resistance for the coin stood at $0.51 and then at $0.56. On the other hand, the support line was at $0.41 and a fall from that level would cause the XRP price to dip to $0.34. That would make the bears stronger in the market. The amount of XRP that was traded in the last session showed signs of decline, which indicated that buying strength might have dipped on the chart. Technical Analysis The altcoin was still controlled by the bulls on the one chart. The coin had gone through a pullback, which is why buying strength also fell on its chart. The Relative Strength Index was above the half-line, and that indicated an increased number of buyers as compared to sellers. If demand falls, the sellers can take over at any moment. The XRP price was above the 20-SMA line as well as 50-SMA, which indicated that demand was still quite high for the coin. It means that buyers were in control of the price momentum in the market. Related Reading: Uniswap Price Continues Bearish Spell, Can It Move Past $6? Other indicators also continued to display that buyers were present in the market. The Moving Average Convergence Divergence depicts the price momentum and overall price action of the coin. MACD was positive with green signal bars, and that meant buy signal for the coin. The green signals were receding, which could mean that there might be a price pullback over the next trading sessions. Bollinger Bands indicate price volatility and fluctuations. The bands widened, which is a signal that there could be heavy price volatility over the next trading sessions. Related Reading: Litecoin Price Recovers But The Bears Might Drag The Altcoin To $51 Featured image from NationalWorld, Charts from TradingView.com
Xrp was once again higher on Friday, as the token hit a 4-month high for a third consecutive session. The token formerly known as ripple has risen by over 50% in the last seven days, despite the current market volatility. Cronos was also a notable mover today, climbing by nearly 15%. XRP XRP was higher […]
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
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.
With the first half of the year gone, statistics from the second quarter of 2022 indicate that the crypto economy has tumbled significantly in value, and crypto tokens in the top ten market positions have lost 30% to 60% in USD value during the past three months. Q2 data further shows that binance coin managed […]
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.
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.
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…
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.
XRP has retraced on its chart over the last few days although the coin had attempted to head upwards, the bulls tired out. XRP at the moment has secured $0.30 as a strong support level. Price of the asset has to rise above its immediate resistance over the upcoming trading sessions in order for the bulls to take charge. If the coin fails to sustain the current price level, a fall beneath $0.30 is just a matter of time. Technical outlook for the coin painted mixed signals on the chart. Some of the indicators hinted towards a rise in bullish price action. Over the last 24 hours the coin depreciated by 4.4%, invalidating most gains XRP logged in the past week. Sellers continue to dominate the market however, buyers were also trying to re-enter as the current price has created a demand zone for the asset. For XRP to negate its bearish thesis, strength from the broader market will be required. The global cryptocurrency market cap today is $955 Billion with a 3.1% negative change in the last 24 hours. XRP Price Analysis: Four Hour Chart The asset was trading at $0.33 at press time. It was trading very close to the $0.30 support line. Invalidating the same will push price of XRP to $0.28. If XRP trades for a considerable time over the $0.33 price level, the XRP might attempt to trade near $0.34 and then at $0.37. If XRP manages to topple over the $0.37 price mark then it might be able to retest $0.43. Volume of XRP traded fell in the previous trading session indicating that buying pressure has fallen on the chart. This marked bearish pressure on XRP’s chart. Technical Analysis XRP’s buying strength remained low, the same was reflected on the Relative Strength Index. RSI was parked below the half-line and it meant that selling pressure was more than buying pressure. In accordance with the same, the price of XRP was below the 20-SMA line signifying that sellers were driving the price momentum in the market. Going by the Fibonacci retracement levels, there is rigid resistance between the 38.2% and 23.6% levels respectively. Support level for the coin was at the $23.6% line for the digital asset. Related Reading | Why Peter Brandt Thinks Cardano’s Price Is The Definition Of “Ugly” The technical outlook painted a mixed signal. Chaikin Money Flow which depicts the capital inflows and outflows was positive. The positive CMF is a sign of increase in buying strength. The small uptick on the RSI corresponds to increased capital inflows. Awesome Oscillator indicated price momentum and reversal in the price trend. AO flashed red histograms which was indicative of a sell signal. At press time however, AO displayed a single green bar but it was too early to say if XRP will be bullish over the immediate trading sessions. Related Reading | Ethereum Liquidations Ramp Up As Price Struggles To Hold $1,100 Featured image from InvestorPlace, chart from Tradingview.com
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…
During the past eight months, crypto assets have shed enormous value against fiat currencies like the U.S. dollar. Bitcoin has shed 69% since the leading crypto asset’s all-time high on November 10, 2021, when the digital currency’s value tapped $69K per unit. The crypto economy has seen some healing as the market capitalization of all […]
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. […]
XRP and other market movers have continued to face the wrath of the bears. The altcoin has fallen considerably over the last 24 hours. It had secured gains over the past week but since the bulls are back, the coin lost what it had gained. Profit booking has taken over as the market movers witnessed a brief relief rally. Although price of the altcoin surged by 16% over a week, the daily losses have invalidated most of it. In the last 24 hours the coin fell by 3%, bringing its price down to $0.34. The bulls have tired out and surrendered to the bears. Selling pressure has increased as XRP turned bearish. The next crucial resistance for the coin hovers at around the $0.30 mark. Technical outlook for XRP flashed mixed signals with a positive divergence on the daily chart. XRP Price Analysis: One Day Chart The altcoin was trading for $0.34 on the one day chart. Immediate resistance for the coin was at $0.48 Before XRP revisits the aforementioned price level of $0.48, the coin has to trade above the $0.40 mark for sometime. Going by the near term technical outlook, the altcoin could lose on its chart again. The support region for the coin would be near $0.30 to $0.28 in a case of a further fall. The amount of XRP traded in the previous session has shot up signifying that sellers were active in the market, the bar was in red highlighting bearish strength. Technical Analysis Indicators were bearish on the 24 hour chart. In accordance with profit booking, sellers had increased in number at the time of writing. The Relative Strength Index slipped below the half-line signifying bearishness as sellers took over the market. On the 20-SMA line, price of XRP was parked below the 20-SMA line, this signalled that selling pressure mounted because sellers drove the price momentum in the market. The above chart however displayed a chance of price undergoing a correction. On the RSI, a positive divergence was formed. A positive divergence indicates that buying strength would return and help the price of the asset to move north on its chart. Sellers have re-entered the market, despite this observation, XRP has continued to flash buy signal in the market. This could mean that followed by the present sell-off, XRP might attempt to secure gains. The Awesome Oscillator depicts price momentum and also accounts for reversals, the indicator displayed green signal bars. These green signal bars were buy signals for the coin. Parabolic SAR also reads the price trend and changes in the same. Dotted lines were spotted below the candlestick which meant that XRP might turn positive over the next trading sessions. Featured image from UnSplash, chart from TradingView.com
XRP has been moving laterally over the last few days and the price has steadied at $0.36. After facing consistent resistance at the $0.35 price mark, the coin finally managed to move past the aforementioned price ceiling. The altcoin has been trading in the green over the last 24 hours, it rose by 1.5%. In the past week, XRP appreciated by double digits. Recently, on the developmental front XRP has plans to extend its operations to Canada in order to make that a new Crypto Hub. The coin has displayed positive sentiments as XRP managed to touch $0.38 on its chart. Shortly after touching the $0.38 level, it displayed a pull back. Buying power also increased as the coin displayed price optimism, the asset was even overbought over the last couple of days. After the price correction, XRP has retreated from the overbought region. The global cryptocurrency market cap today is $1.01 Trillion with a 1.4% positive change in the last 24 hours. XRP Price Analysis: Four Hour Chart The altcoin was trading at $0.36 on the four hour chart. The overhead resistance for the coin stood at $0.38, XRP pulled back right after it touched the aforementioned price level. The technical outlook of the coin painted an incoming bullish price move. If XRP manages to breach the $0.38 level then the coin might trade around the $0.46 level. After this, XRP could attempt to reach the $0.52 resistance mark. Immediate support level for the coin stood at $0.34. A fall from $0.34 support line can push the altcoin to $0.29. Trading volume dipped considerably which signified that buying has also declined on the charts. Technical Analysis The altcoin registered buying strength on the chart. XRP finally had touched the overbought zone this month, the last time the coin was overbought was in the past month. The Relative Strength Index was positive at the time of writing. The indicator was above the 50-mark which signified heavy buying strength. Although the coin noted a slight downtick on the RSI, there were more number of buyers than sellers in the market. On the 20-SMA, XRP was above the line. This meant that buyers drove the price momentum in the market. The coin was also peeping above the 200-SMA line which is considered extremely bullish, however, if buying pressure fades the bears could be back. Related Reading | Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending? The coin after noting significant increase in buying strength has flashed a sell signal. Moving Average Convergence Divergence indicates the price momentum and also reversals in the same. MACD underwent a bearish crossover, the red histograms painted a sell signal on the chart. This reading was in consonance with the downtick noted on the RSI. Average Directional Index points towards a price trend, the indicator was seen above the 20-mark, this reading is tied to a possibility of continued price action in the same direction indicating bullishness. Suggested Reading | Bitcoin Regains Some Luster With 15% Rally To $21,700 – Can It Maintain The Shine? Featured image from UnSplash, chart from TradingView.com
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.
XRP was consolidating between $0.24 and $0.33 for the last one week. The altcoin registered an upside over the last 24 hours. XRP registered demand which caused the coin to witness recovery on its chart. The cryptocurrency market also registered an overall rise in prices as buyers were slowly re-entering the market. The broader market despite increase in price is still in a fragile, hence it is difficult to ascertain whether XRP will continue its bullish stride in the long term. At the current moment, XRP has secured the support level of $0.30. As price of XRP has constantly seen downfalls, it is quite natural that the coin might continue to witness relief rallies. These rallies however, are brief and fade out soon. If XRP doesn’t continue to form higher highs then bullish trend might not be able to sustain the bulls in the market. The global cryptocurrency market cap today is $958 Billion with a positive increase of 0.1% in the last 24 hours. XRP Price Analysis: Four Hour Chart The altcoin touched yearly lows on it chart this month as the bloodbath continued to extend. At the time of writing, the coin was trading for $0.33. The price previously displayed consolidation as XRP traded between the $0.24 and $0.31 levels respectively. Over the last 24 hours, the coin moved past the range and was priced at $0.33. The local support for the coin stood at $0.30 while the overhead resistance for XRP was at $0.38. The $0.38 level has acted as stiff resistance as the coin barely managed to move above that aforementioned price level in weeks now. Volume of XRP traded rose significantly and the bar was in the red, this however, pointed towards bearishness in the market. Technical Analysis The coin flashed a considerable increase in buying strength, this has in return pushed the price north. The Relative Strength Index was seen above the 50-mark which is a sign of buying strength in the market. The technical outlook has painted a bullish picture but RSI over the last 48 hours, have seen dips which points towards fragile buying strength. If XRP has to trade in the north, then the coin has to shoot above the $0.50 mark. For this however, the buying strength has to remain consistent. In accordance to the same, the price of XRP was above the 20-SMA, this meant that buyers were driving the price momentum in the market. Related Reading | XRP Consolidates, Is It Going To Retrace Now? The Awesome Oscillator depicts the price direction and price reversal too. The indicator flashed green histograms which act as a buy signal. The effects of the buy signal reflected on the RSI as seen on the previous chart. Chaikin Money Flow also was positive on the smaller time frame. This indicator points towards capital inflows and outflows. On the four hour chart, CMF showed increase in capital inflows and fall in capital outflows. Despite bullish signals on the charts, the altcoin was still fragile. Buying strength needs to remain stable and only then with considerable demand can the altcoin remain above the bearish zone. Related Reading | Bitcoin Back At $21K After 75% Drop, Where Does It Go From Here? Featured image from UnSplash, chart from TradingView.com
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
The $1.19 trillion crypto economy is now lower in value than the lows recorded in July 2021. During the last week, digital currencies like bitcoin, ethereum, caradano, and xrp, have shed significant value against the U.S. dollar, as the top cryptos have lost 50% to more than 80% from their all-time price highs. How Low […]
The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Binance’s BNB token, which could be an unregistered security. If the cryptocurrency is found to be a security, it could put Binance in a similar position to Ripple Labs which has been in an ongoing lawsuit with the SEC over the sale of the XRP […]
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?
Following the Terra LUNA and UST fallout, digital currency markets have dropped in value as the crypto economy dropped 6.93% from $1.356 trillion on May 22, to today’s $1.262 trillion. Amid the market carnage, bitcoin’s market dominance has increased to 43.8%, reaching the highest value since October 30, 2021. Moreover, ethereum’s market dominance has slid […]
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…
Roughly six months ago, bitcoin and a number of digital assets reached all-time highs and the crypto economy crested above $3 trillion in value. Today is a different story as a great majority of cryptocurrencies are down between 57% to over 80% against the U.S. dollar. While Cryptos Are Down From the ATHs, 2020 Holders […]
Outflows from digital asset funds reached $141 million last week, a figure not seen since July 2021.
XRP flashed lateral price movement at the time of writing. The coin register some gains over the last 24 hours however, it was quite minor. Bulls are not completely back in the market yet. For bulls to be back in the market, it is essential for XRP to move above the $0.60 mark. Technical outlook of XRP hasn’t completely pointed towards a recovery because the bears are still in charge of the price. The one day chart of the XRP has continued to depict bearishness on the chart. Over the last week, XRP fell by almost 7%. Although the coin has printed a symmetrical pattern on the chart, which also means that XRP has a chance of moving on the upside it is uncertain if the altcoin will be able to hold onto its current price action. This directional breakout from the symmetrical triangle could either make the altcoin trade towards the north or towards the south. XRP Price Analysis: One Day Chart The altcoin was trading at $0.41 on the one day chart. XRP was also trading beneath its long standing support line of $0.42. The asset hadn’t gone below the aforementioned price level in almost over a year. A push below the current price mark will make the coin trade beneath the $0.30. A break below the $0.30 price mark could push XRP near the $0.24 price level. Since the coin registered a small symmetrical triangle and it can be so that XRP can either go up or down from here, the overhead resistance for XRP was at $0.48. For bearish thesis to be invalidated the coin needs to trade above the $0.56 resistance mark. Technical Analysis XRP recovered on the chart and the coin moved away from the oversold region. The Relative Strength Index was above the 20-mark, which meant that the coin wasn’t undervalued. Buying strength came back in the market but the altcoin was still in the grasps of the sellers. If continued selling pressure remains then the coin might trade close to the immediate resistance mark. The asset was also below the 20-SMA line and this is in accordance with sellers being in control. This reading meant that sellers were responsible for the price momentum in the market. Suggested Reading | Ripple (XRP) Plunges To $0.43 With Bears In Full Swing Bollinger Bands are used to depict the price volatility of the asset. On the one day chart, Bollinger Bands were seen wide open. This reading meant that the coin was not about to witness immediate price fluctuations in the market. It can be so that the coin might continue consolidating over the next trading sessions. Awesome Oscillator depicted green signal bars as price momentum was slowly registering a bullish change. The green signal bars also mean that there is a buy signal in the market which correlates to positivity in terms of price action. If buyers act on it then the coin might manage to move upwards but it is still uncertain if that would be the case. Related Reading | Ripple Price Falls Below $0.43 As Bears Take Control Of The Market
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…
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
Based on recent price performance, the crypto market is at its lowest ebb for the first time in a very long time.
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“After reasonable inquiry, the information known and currently available is not sufficient to enable the Commission to admit or deny this request,” the SEC stated in court documents.
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…
The price of XRP has nosedived substantially to a level that it last touched almost 70 weeks ago. At the current time, XRP’s price have been trading near its immediate support level of $0.36. Bitcoin continues to be on shaky grounds as the coin tried recovering by moving past the $30,000 mark. At press time, the coin fell back to $29,700. The majority of the industry’s altcoins have continued to extend losses today. The bearish pull remains strong in the market at the time of writing. Over the last 24 hours, the market has bottomed out and that is why a chance of price revival can still be considered. The technical outlook of the coin shows that a relief rally could be on the charts, however, the macro market is still fragile. Strength from the broader market would be needed as well so that sellers don’t outnumber buyers in the market forcing prices to fall again. Price Analysis: XRP One Week Chart XRP was trading at $0.42 at the time of writing. The coin had presented signs of revival because the coin soared by 10% over the last 24 hours. It is still quite uncertain if XRP will manage to trade above its nearest support line of $0.36. A break below which can cause the coin to tumble to a low of $0.13. With buyers returning, XRP might attempt to trade above its immediate resistance of $0.56. XRP also flashed an equal high on the one week chart, this pattern is connected to bullish price action in the market. Toppling over the immediate resistance can push XRP to $0.68, staying above which can help invalidate the bearish thesis in the market. The volume of XRP traded had increased and the bar was red which depicted bearishness. Technical Analysis XRP had attempted to make a price revival but continued selling pressure have tired the bulls out. The same is reflected on the 20-SMA indicator. The price of XRP was seen below the 20-SMA line. This reading signified sellers were driving the price momentum on the market. On the Relative Strength Index, after facing an intense sell-off across the market, buyers re-entered. XRP was no longer seen in the oversold zone on the RSI. After the recovery though, XRP again fell prey to the bears and RSI flashed a downtick signifying increased selling pressure. Related Reading | Crypto Shorts See $240M Flush As Bitcoin Rebounds Back Above $30k With the price revival, XRP’s technicals have displayed an onset of positive price action. It is however too early to say if it is a beginning of a shift in the price action. Moving Average Convergence Divergence underwent a bullish crossover on the four-hour chart. The indicator flashed growing green histograms above the half line and that means bullish momentum for the coin. XRP also could witness a northward push in prices because the Chaikin Money Flow was seen above the zero-line. This indicator displays the number of capital outflows and inflows and according to the above chart, capital inflows exceeded outflows at the time of writing. Related Reading | Bitcoin Recovers Above $30,000, Has The Bottom Been Marked?
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 […]
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 bounce-back move has occurred near a technical support confluence, raising XRP’s possibility to rise 30% in Q2/2022.
CoinMarketCap (CMC) was at the center of a controversy today after the market data aggregator tweeted that Ripple’s XRP wasn’t a real cryptocurrency.
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XRP has been on a downtrend owing to a lack of demand for over a week now. The coin has retouched a multi-month low at the time of writing. Broader market weakness also remains to be blamed along with a whirlwind of regulatory roadblocks owing to SEC vs Ripple’s lawsuit. Overall it hasn’t been a very favourable time for the altcoin. The market capitalisation of XRP has noted a 7% decline over the past 24 hours according to CoinMarketCap. The market capitalisation of the coin was $29.13 billion at the time of writing. The global crypto market cap was at $1.85 Trillion after a fall of 1.8% over the last day. XRP’s all-time high was $3.84 and at the present market value, XRP has fallen by over 80%. XRP Price Analysis: Four Hour Chart XRP was priced at $0.607 at press time and it noted a decline of $6.7% over the last 24 hours. In the past week, the digital asset’s market value fell by over 17%. The coin has been repeatedly facing rejection at the $0.700 level for a week, consistent rejection has caused the bears to take over the market. The bulls have been driven out of the market and so buyers also have existed from the market. With each rejection, XRP experienced a sell-off. Trading volume was also seen in red which is in accordance with the falling market cap of the coin. Immediate resistance for the coin was at $0.700 and then at $0.770. If prices plummet any further, the next support line for the coin awaited at $0.59, a level the coin last visited in the month of February 2022. Technical Analysis The cryptocurrency has witnessed bouts of overselling and underbuying in the last week and a half. In that duration, XRP has consistently registered falling buying strength. Prices of the coin have remained below the 20-SMA due to the sell-off. As mentioned above, with a resurgence of buyers XRP could start to trade above the 50-SMA mark that coincides with the resistance mark of $0.770. On the Relative Strength Index, the indicator stood below the 25-mark which marks oversold conditions in the market at the time of writing. Related Reading | The CEO Of Ripple Says Bitcoin Tribalism Is Holding Back The Crypto Industry Does The On-Chain Analysis Invalidate The Coin’s Bearish Thesis? We Think Not! The developmental activity of the coin has also suffered according to the data provided by Santiment. XRP recorded an increase in developmental activity in the month of September, last year. The coin recorded a high of 69 last year. Ever since that, XRP’s developmental activities have severely noted a decline. At the time of writing, the coin stood at 14, which goes to display that XRP has underperformed considerably in this aspect. Regarding the social aspect of the coin, the digital asset has also lagged behind. This displayed severe bearishness on the chart, as a reason why the confidence of buyers has reflected poorly. A fall in social dominance means that the cryptocurrency has started to lose its hype and popularity, especially during favourable times such as a bull run. The social Dominance of the coin has declined sharply ever since December 2020. The current reading was at 1.92% which is almost a 90% decline since December 2020. The social volume also plummeted sharply with periods of highs and lows seen on the chart. The choppy social volume is an indication of declining confidence in the coin which amounts to a bearish thesis for XRP. Although the market seems to be in the accumulation stage, from the above-given metrics, it is safe to assume that the coin itself hasn’t witnessed too much accumulation which directly amounts to a lesser number of buyers entering the market. Currently, to invalidate a bearish price action, the coin needs to start experiencing growth in buying strength, failing to do this XRP could be stuck at this particular price action for the foreseeable future. Related Reading | Ripple CEO Optimistic On SEC Case, Why XRP Saw Weak Response Featured image from UnSplash, charts from Tradingview.com and Santiment.com
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….
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
On this week’s episode of “The Market Report,” Cointelegraph’s resident experts reveal their personal portfolios.
Ripple rejoices, the SEC gets challenged to a narrative battle and Brazil moves ahead with crypto legislation.
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 […]
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.
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.
XRP risks plunging to $0.50 in April as it breaks out of a classic bearish continuation structure.
“The filing of the Individual Defendants’ Answer is the triggering event. When the Answer is filed, even if before April 8th, the date the Answer is filed starts the two week clock running for the filing of the SEC position on discover…
A class-action lawsuit has been filed against the Nasdaq-listed cryptocurrency exchange Coinbase alleging that the platform lets customers trade 79 cryptocurrencies that are unregistered securities, including XRP, dogecoin (DOGE), and shiba inu (SHIB). Lawsuit Claims Coinbase Sold 79 Unregistered Crypto Securities to Customers A class-action lawsuit was filed last week against Coinbase Global Inc., Coinbase […]
The first two waves of the XRPL grant have offered $6 million in funding to 50 open source projects built on the XRP ledger.
After seven consecutive weeks of inflows, crypto investment products recorded significant outflows last week, according to the latest report by institutional crypto fund manager CoinShares.
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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.
A combination of technical, fundamental, and social sentiment indicators spell downside risks for XRP after its price rises over 8% week-to-date.
Rising blockchain company Ripple has announced the onboarding of around 4,000 singers, musicians, content creators, game designers, and other artists into its NFT platform with a Creator Fund worth more than $250 million.
Launched in Sep. 2021, the blo…
Although cryptocurrency markets started the weekend lower, XRP was able to avoid the red wave, rising by as much as 7% in the process. LUNA on the other hand was lower, with ANC also down close to 10%. Ripple (XRP) XRP rose to its highest level in almost one month on Saturday, as the world’s […]
Crypto investment products attracted large inflows in the Americas last week, versus minor outflows recorded in Europe, according to the latest report by institutional crypto fund manager CoinShares.
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Despite the raging conflict in Eastern Europe, crypto investment products saw inflows totaling $36 million in the week ending February 28, according to the latest report by institutional crypto fund manager CoinShares.
The post European crypto investment products recorded outflows totalling $59 million last week appeared first on CryptoSlate.
The upside setup for SOL price appears despite Solana-based investment products seeing significant capital outflows.
Russia’s invasion of Ukraine has officially begun, as President Vladimir Putin announced that he is launching a “special military operation” in the country.
The post Ethereum co-founder Vitalik Buterin condemns Putin for Ukraine invasion appeared first on CryptoSlate.
Despite increased political tensions surrounding the Russia-Ukraine crisis, crypto investment products recorded its fifth consecutive week of inflows, according to the latest report by institutional crypto fund manager CoinShares.
The post Institutional investors purchased $25 million worth of Avalanche (AVAX) last week appeared first on CryptoSlate.
XRP fell by over 10% on Tuesday, as bearish pressure once again intensified in crypto markets. As of writing, the global cryptocurrency market capitalization was almost 5% lower, following marginal gains this morning. Biggest gainers The bleeding in crypto markets continued this afternoon, as such, it was difficult to find any remaining bulls due to […]
The returns on Ripple were promising in the past decade, but it largely missed out on significant crypto gains. However, it did succeed during the early parts of last year until April, when its value grew significantly higher than before, only to be replaced by other cryptocurrencies later in autumn, which had much better performances throughout that period. XRP has been making lower highs since 2017, and the price is bearish. Other cryptocurrencies continued to make record highs until November 2021, but XRP’s price had grown slowly. During last month’s dip, XRP had slipped below $1, falling to $0.55. It met SMA200 (purple) on weekly charts, which provided support for a second time; then started bouncing higher again in January this year. Related Reading | Representing Lawyer of XRP Holders Predict SEC’s Next Move As Ripple Price Hikes XRP/USD is climbing higher, but buyers haven’t been able to push the price above 50 weeks SMA (yellow), which stands at $1.9 and acts as resistance in the top level for now; however, a jump from 055 did show some bullish signs since they gained around 60%. A week later, markets turned bearish again overall, but XRP holding onto its gains indicates that there could be more upsides left within rangebound periods. XRP Fight Against SEC The main reason XRP is falling behind the rest of the crypto market has been a legal battle that started more than one year ago, when SEC opened their case against Ripple, claiming it’s an investment contract. Everyone following this lawsuit will determine how blockchain technology should develop in America for future generations. Ripple has faced many challenges in its lawsuit against the SEC. One recent twist was that judge Analisa Torres granted them permission to respond, which they did with fair notice of defense earlier this month. Analysts Reviews On Ripple Fate The end may be near for this case, which would mean greater appreciation in XRP’s price. Related Reading | Bitcoin Plunges Below $40 As Russia Has Reportedly Given Its Forces Order To Attack Ukraine James Wo, founder, and CEO of DFG said in an email to CoinDesk; We’ve seen in tech history that no matter the result of the trial, verdict or closed-door agreement, supporters regularly see the ending of a legal battle as a bullish sign. This increase could be the beginning of a bullish period for XRP if indeed the long-lasting trial comes to an end in the upcoming months. Some people predict that XRP will lose favor among investors because there is now a newer, more popular payment token in the market. Another statement by Vladimir Gorbunov, CEO of Crypterium, explains; Ripple’s outlook remains questionable because market conditions have changed dramatically over the past few years. A large number of companies making similar solutions to Ripple. However, Ripple is the most popular service in the segment of interbank transactions. Featured image from Pixabay, chart from TradingView.com
THETA, GALA, and SAND were some of Saturday’s biggest cryptocurrency casualties, as an onslaught of bearish pressure pushed prices lower. This came whilst market bulls were few and far between to begin the weekend. Biggest Gainers As of writing, DOGE and LUNA were both marginally higher, however it was XRP that made the most gains […]
The so-called “mega whales” have accumulated over $712 million worth of XRP tokens since December 2021.
The so-called “mega whales” have accumulated over $712 million worth of XRP tokens since December 2021.
We will soon know if Ripple’s executives were warned of the possibility of an SEC lawsuit ahead of XRP’s launch.
Ripple is one of the altcoins that has strived comparative well within the cryptocurrency space. The price-performance and the general trend in the protocol’s ecosystem have made this crypto one of the outstanding long-term and short-term investment choices. Currently, Ripple is ranked in the 6th position according to CoinMarketCap, as it boasts a market cap of over $40 billion. With the recent case of SEC and Ripple, several of the XRP community have some built-up tension over the possible action to expect. Related Reading | Bitcoin Hashrate Climbs To New High As Price Recovers Above $42,000 This is after the unsealing of three different documents set by the judge. However, John Deaton, the cryptocurrency lawyer representing more than 64,000 XRP holders, put forth some possibilities to calm the situation. First, he explained that SEC is likely to make two potential moves. From the new evidence, there’s an inclusion of the email thread and deposition notice of Brad Garlinghouse, Ripple CEO. Also, the evidence contains the line of Chris Larsen, a Ripple executive. According to Deaton’s suggestion, substantially proving the link between Ripple’s public announcements and XRP price would be a near impossibility. Moreover, he mentioned that the SEC would have to confirm the sale of XRP tokens by Garlinghouse and Larsen in the U.S. Furthermore, the lawyer was contemplating if SEC could lay claim of Ripple creating a secondary market for XRP. This could be their alternative approach once they fail to establish that the two Ripple executives are selling XRP in the U.S. Deaton is yet to access the unsealed document despite his having the amicus counsel status in the case. Ripple (XRP) Price Hikes, Aims To Touch $0.90 The price of XRP is finally skyrocketing, as shown on the 4-hour chart. Its upward trend indicates a prime surge, as its target is to hit $0.90. However, the crypto may have to face a little tussle in striving to achieve its target. But through its move, the XRP price is likely to encounter a great challenge while soaring above the $0.90 level. This is mainly due to the resistant bridge from the Momentum Reversal Indicator (MRI) as the 78.6% Fibonacci retracement level. Related Reading | These Two Altcoins Are Ready For Major Pullback, Says Crypto Analyst Once there’s an increase in the buying orders, the bullish trend of the XRP price will likely get to a new high. But where the selling demands increase, the XRP price may have to dwindle and hit its Simple Moving Average (SMA) of $0.69. Featured image from Pixabay, chart from TradingView.com
Last week, Ethereum investment products finally broke a nine-week long streak of outflows, while Bitcoin saw a fourth consecutive week of inflows, according to the latest report by institutional crypto fund manager CoinShares.
The post Ethereum investment products finally break a nine-week run of outflows appeared first on CryptoSlate.
Altcoins have been closely following the movement of bitcoin over the last few weeks but this is no surprise. However, there are times when these altcoins are able to break out of the shadow of the pioneer cryptocurrency and make out a rally for themse…
A fractal from 2018-2019 repeating could spell trouble for XRP’s long-term upside outlook, however.
Today’s Ripple price analysis is rather cloudy, and analysts are expecting the market to reverse course near the $0.90 level.
After being dragged down from recent highs, the XRP/USD pair may be on the verge of a new bottom.
Ripple’s market …
Ripple, a Fintech company, makes substantial headway in its legal fight with the U.S. Securities and Exchange Commission. The XRP (the world’s seventh-largest cryptocurrency) issue will be resolved soon, according to CEO Brad Garlinghouse, who is…
The long-timeframe chart is painting a death cross pattern, however, suggesting a selloff ahead.
Three months ago the crypto economy was worth more than $3 trillion and since then, digital currency prices have slid a great deal in value, as crypto assets have been sold and distributed across many hands. Over the last decade, fluctuating price cycles have made it so some addresses, typically referred to as crypto whales, […]
Ripple has bought back shares from its Series C funding round, which raised the company’s valuation to $15 billion, according to CEO Brad Garlinghouse. He added that despite the lawsuit by the U.S. Securities and Exchange Commission (SEC) over the status of XRP cryptocurrency, Ripple had the best year on record. Ripple’s $15 Billion Valuation […]
There’s been a lot of action in the world of cryptocurrencies over the last 12 months and a myriad of metrics have changed. A recent report from forexsuggest.com shows that dogecoin fees saw the largest increase since January 1, 2021, jumping 4,230% in a year. Ethereum’s transaction fees were the most expensive at the end […]
The past few days may have weakened the image of Solana (SOL). High levels of network congestion brought a new outage to the network and SOL fell the hardest amongst the top 20 cryptocurrencies amidst the market crash. Here’s What Happened Last week, it was reported that Solana’s network was clogged, resulting in many failing transactions and DeFi users not being able to adjust their collateral positions to reflect the new valuation of the coin amidst the crypto market fall. In a Solana blog post, the team explained that the incident experienced by validators was due to excessive duplicate transactions sent by bots and “related to issues previously identified that engineers have been working to improve and resolve”. This is not the first outage for the Solana network. The 18-hour network outage in September 2021 caused by heavy transaction traffic remains the harshest one. And just this month, this has been the second, following an outage on January 4. Related Reading | Algorand, Solana, And More Lead List Of Biggest Losing Altcoins Liquidated Solana Users The DeFi lending protocol built on Solana, Solend, stated that the market crash “caused many accounts to become liquidatable and created many profitable arbitrage opportunities.” SOL price dramatically plummeted as the whole crypto market tumbled, thus users with collateral needed to increase their position in order to not have their assets liquidated. Position liquidators receive a bounty from liquidated positions, so when scenarios like this happen they “race to close eligible positions”, as Laine the blockchain business that operates validators on Solana explained. This is the reason behind bots, created to help liquidators win the race, but for this, “they submit the same transaction dozens or hundreds of times”. This turns into a mass of duplicated transactions that need to be verified by validators. There was a massive quantity of attempts by Solend users trying to deposit and repay to avoid liquidations, but all they met was network congestion. “This large load caused validators to falter, especially since they were not filtering out duplicate transactions optimally, wasting precious compute. The thousands of duplicate bot transactions also drowned out legitimate user transactions.” Solend further stated, “In addition, there was some erroneous volatility on the Pyth price feed, which caused wrongful liquidations (e.g. some users supplying mSOL and borrowing SOL were liquidated due to prices moving out of sync).” Solend later announced that they are working to reconcile problems encountered by users. The platform will “Reimburse 100% of the penalty for users liquidated due to abnormal volatility on the SOL feed” and “Reimburse 50% of the penalty for other liquidations.” SOL Price Tanked SOL is now down 42% in the last week and decreased dramatically from $144 on early Thursday to around $80 on Monday. It has now recovered slightly to $92,42 at the time of writing. Consequently, SOL lost its position as the 7th-largest coin to XRP, and overall saw the deepest pool of blood among the top 20 cryptocurrencies, with many users left wondering if their network is worth the risk. Related Reading | Solana Could Flip Ethereum To Become “Visa Of Crypto,” New Study By Bank Of America Shows What’s Next For SOL? Solana released the v1.8.14 update to “mitigate the worst effects of this issue” and alleged that “engineers have been working to improve and resolve” the issues related to network congestion starting with the 1.8 release. More updates to implement v1.9 are expected over the following 8 to 12 weeks. “These forthcoming releases are aimed at improving the state of the network, with more improvements expected to roll out in the next 8-12 weeks. Many of these features are currently live on Testnet, where they are being rigorously tested.” Many users didn’t find relief in the answers from the Solana-supporter CEOs and its co-founder Anatoly Yakovenko and called them out for allegedly doing false claims and dishonest wordplay. The network might be in a key point for its future growth. The new updates need to scale with the demand and provide trust to the disappointed users.
The price of bitcoin tapped a new low this year hitting $34K per unit at just after 5 a.m. (EST) on Saturday morning. Bitcoin is now down over 48% lower than its all-time high (ATH) reached two months ago on November 10, 2021 — when it jumped above the $69K mark. During the last week […]
The number of surveyed South Africans that own crypto grew marginally from 10.3% in October 2021, to 11.3% in December 2021. With this rate of ownership, South Africa is now ranked number 21 out of the 27 countries whose internet users participated in the survey. South African Ownership Rate Below Global Average According to the […]
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has explained how securities laws apply to cryptocurrency tokens as he outlined the commission’s priorities in regulating the crypto space. “Our role at the SEC is to ensure that the public still gets basic protection,” he stressed. SEC Chair Gary Gensler on Cryptocurrency […]
The U.S. Securities and Exchange Commission (SEC) made a surprise attack on the Ripple case by filing a letter of supplemental authority to strike Ripple’s “fair notice” defense. Simultaneously, the token XRP is down 2.33% in the last 24 hours to $0.7 following the market’s downtrend. The SEC’s Surprise Move As the popular SEC vs. Ripple case is expected to be resolved around April this year, the SEC has made a new move that left many wondering if previous expectations could change. The American regulator is using a winning move from another case to strike at Ripple’s key arguments. The SEC had taken John M Fife and five entities controlled by him to court in September 2020 for selling $21 billion of penny stocks and gaining a profit of $61 billion without registering as security dealers. FIFE’s defense adopted an argument similar to Ripple’s, alleging the SEC hadn’t given them a fair warning and the term “dealer” can be widely interpreted. Last month, the court denied this argument. What Does It Mean For The Ripple Case? Naturally, the regulator now aimed to use this denial to strike at Ripple’s “fair notice” key defense. Similarly, Ripple’s “fair notice” defense alleges the regulator failed to notify them about a possible violation of federal securities laws and claimed the term “investment contract” is being misused by the SEC, adding that “The SEC’s theory, that XRP is an investment contract, is wrong on the facts, the law and the equities.” No foreign regulator has determined that XRP is a security. In fact just the opposite is true. The U.S. would be the unfortunate outlier. The SEC is using the FIFE case latest outcome to insist that the term “investment contract” is bound by legal parameters since 1946: In Ripple’s case, binding authority construing the term “investment contract” has existed since 1946. W.J. Howey Co., 328 U.S. at 298–99. Thus, Fife provides additional authority for striking Ripple’s fourth affirmative defense. However, the cases have distinct terms. The attorney Jeremy Hogan explained via Twitter that the FIFE case outcome “marginally helps the SEC’s position in its Motion to Strike Ripple’s Fair Notice Defense so the SEC filed it with the court.” Although the SEC is trying to make a move out of the similarities from both cases, Hogan claims that FIFE’s “was in a very different stage of litigation and the standard is completely different than the SEC v. Ripple case. In the “Fife” case, the Defendant tried to argue “Fair Notice” in order to dismiss the lawsuit entirely (and failed) because the burden is very high on a party moving to strike a pleading. In the Ripple case, it’s the SEC that is trying to strike the affirmative defense of Fair Notice and it has the high burden to meet. Ripple CEO Brad Garlighouse had remained hopeful at the end of 2021 as he expressed to CNBC: Clearly we’re seeing good questions asked by the judge. And I think the judge realizes this is not just about Ripple, this will have broader implications. Related Reading | XRP Builds Momentum With 7% Increase As Ripple Launches New ODL Partnership The Impact On XRP Related Reading | Ripple Had Its Strongest Year Ever Despite The Sec’s “Attack On Crypto” The next hearing will be a key day for the outcome of the Ripple case, thus XRP’s price. The timing is rather complicated for XRP. Its downtrend seems to follow the general crypto market movement. XRP is down 2.33% in the last 24 hours to $0,7634 as it shows in the next chart: After the SEC filed the lawsuit against Ripple in December 2002, the XRP price plunged dramatically from $0.60 to $0.1748. It continued to drop and lose ground but remains inside the top 10 crypto Ranking. Then, XRP recovered throughout 2021 and reached highs of $1.34 on November 10, 2021, although it didn’t manage to close the year above $1.01. The XRP enthusiasts’ expectations are for Ripple to win the case and XRP to enter a massive rally, surging to its all-time high of $3.4 or even double numbers. However, the previous projections hadn’t taken into account the current crypto market downtrend. And if the Ripple case were to have a surprisingly negative resolution, XRP might see an outcome just as sad.
Bitcoin and most major altcoins have fallen to key underlying support levels, which could be an early sign of an impending oversold bounce.
Ripple Labs managed to stay strong in 2021 despite the Securities and Exchange Commission (SEC)’s “attack on crypto”, AKA the lawsuit against Ripple and its executives. Now the payments solutions company celebrates its “strongest year ever”. Ripple CEO Brad Garlinghouse announced the achievements and had some comments to share about the SEC’s case. Ripple’s first On-Demand Liquidity (ODL) was launched earlier this year during 2021’s Q3. It is a payments solution that “allows customers to instantly move money around the world at any time”. This service first appeared as a corridor between Japan and the Philippines that leveraged the token XRP. They have recently announced Ripple’s first ODL deployment in the Middle East as well. Related Reading | Ripple Announces New Payment Corridor in Japan As XRP Rallies 23.5%, More Profits Ahead? Now, a Ripple report shows that the XRP-based On-Demand Liquidity payments accounted for 25% of the total dollar volume across RippleNet. Garlinghouse celebrated the results and added that the ODL tokens are up 25x from Q3 2020, and 130% quarter over quarter. “All of this growth came from outside the US for (sigh) obvious reasons” tweeted Garlinghouse. Related Reading | Ripple Partners With Republic Of Palau To Develop National Digital Currency The report notes that Ripple’s ODL users have access to over 20 countries “for their payment needs”, and transactions over the Ripple network have more than doubled since Q3 2020. Ripple made sure to mention the effects of regulatory uncertainty, noting that their U.S. ODL flows were “essentially halted”. However, “international ODL volume has continued to surge”. ODL is thriving in regulatory jurisdictions that embrace innovation and understand that crypto is critical to creating a more inclusive, equitable and efficient global financial system. CEO Brad Garlinghouse Slams At The SEC SEC Chairman Gary Gensler is famous in the crypto world, but not for good reasons. Since filing the case against Ripple and its two executives a year ago, many have feared the possibility of falling subject to enforcement actions. Gesler has repeatedly called crypto the “Wild West of our financial system,” and Brad Garlinghouse doesn’t agree –nor does the community. The Ripple CEO stated that “Calling crypto the “Wild West” is a farce” noting that Gary Gensler “has taken an aggressively anti-crypto approach”, which he claims is making companies move outside the U.S. He pointed out that “Web2 was built with many American companies” and suggested that Web3 might not be given the same fair chance. Garlinghouse claims that most crypto-related companies “are complying with financial regulators globally” and added that “This industry shouldn’t be punished for asking for regulatory clarity & regulation that is consistently applied with a level playing field.” Garlinghouse referred to the SEC’s lack of clarity refusing to answer questions about the legal status of Ethereum and questioned: “Is the agency actually living up to its mission of protecting investors w/ regulation by enforcement & what Hester Peirce calls “strategic ambiguity”?” 2021 has been a watershed year for crypto. Acceptance and awareness of the opportunity to bring billions of people into the global financial community has never been so clear. It’s been incredible to see a lot less ‘maximalism’, and many more builders joining the industry.
Ripple has achieved the “strongest year ever” despite the lawsuit over XRP by the U.S. Securities and Exchange Commission (SEC), according to CEO Brad Garlinghouse. “Calling crypto the ‘Wild West’ is a farce,” he said, emphasizing that “most are complying with financial regulators globally.” Ripple Has Best Year Despite SEC’s Lawsuit Over XRP Ripple CEO […]
The digital asset xrp has gained more than 10% in value during the last seven days, shrugging off the losses a majority of crypto coins experienced last week. According to data from Whale Alert, someone moved 449.3 million xrp on December 19. Moreover, xrp holders are expecting to receive an airdrop from a project called […]
SBI Group, the financial services company group based in Tokyo, Japan, has announced the launch of a crypto asset fund that consists of seven different digital currencies. The crypto fund launched by the Japanese company includes bitcoin, ethereum, xrp, litecoin, bitcoin cash, chainlink, and polkadot. SBI Group’s New Crypto Fund Leverages 7 Different Digital Assets […]
The SBI crypto-asset fund consists of seven cryptocurrencies including Bitcoin, Ethereum, Litecoin, XRP, Bitcoin Cash, Chainlink and Polkadot, none exceeding more than 20% in ratio.
Crypto scammers have stepped up their acts in devising new means of defrauding their victims as new research has revealed that they now doctor YouTube videos of influential people in the crypto industry to promote fake crypto giveaways.
The post Crypto scammers make $9 million on fake YouTube streams appeared first on CryptoSlate.
The report also found that a transaction on the Solana blockchain uses 24 times less energy than charging your phone.
During the last week, the price of bitcoin has been hovering below the $60K range and digital currency advocates are wondering which way the market is headed next. At the time of writing, the crypto economy is valued at $2.81 trillion and bitcoin’s market dominance has sunk below the 40% region for several days now. […]
Starting in 2013 with a supply limit of 100 billion coins, Dogecoin eventually switched to an uncapped supply.
Ripple CEO Brad Garlinghouse says that he expects the lawsuit over XRP by the U.S. Securities and Exchange Commission (SEC) to come to a conclusion next year. The executive explained: “We’re seeing pretty good progress despite a slow-moving judicial process.” Ripple’s CEO Is Hopeful the SEC’s Lawsuit Over XRP Will Conclude Next Year Ripple CEO […]
“The judge realizes this is not just about Ripple, this will have broader implications,” Ripple CEO Garlinghouse said.