ReportWire

Tag: ripple (xrp)

  • Ripple Whales Accumulate Over 380 Million XRP in Just 10 Days: Is A Breakout Near?

    Ripple Whales Accumulate Over 380 Million XRP in Just 10 Days: Is A Breakout Near?

    [ad_1]


    Este artículo también está disponible en español.

    XRP has shown remarkable resilience recently, maintaining its position above a critical support level, though a significant price move still looms. Key data from Santiment reveals that whales are actively accumulating XRP, having purchased over $228 million in the past few days. 

    Related Reading

    This aggressive accumulation suggests a growing confidence among large holders as the market rallies toward higher prices. Analysts and investors closely watch XRP, anticipating a breakout from key supply levels that could trigger a rally to new highs. 

    With bullish sentiment rising, the next few days will be crucial in determining XRP’s price direction and its role in the ongoing market cycle. Will this whale activity lead to a major upward move, or could XRP remain in its current range? Only time will tell, but expectations are high as momentum builds in the broader crypto market.

    XRP Investors Waiting For A Big Move

    The crypto market has seen a significant surge, with Bitcoin and many altcoins posting double-digit percentage gains in recent days. The Federal Reserve’s decision to cut interest rates by 50 basis points sparked this rally, fueling optimism among investors now eyeing the potential start of a new crypto bull run. While investor sentiment for XRP has turned positive, the market has not yet reflected this in the token’s valuation.

    Top analysts and market participants are sharing insights that suggest XRP may be gearing up for a strong performance this cycle. One prominent technical and on-chain analyst, Ali, highlighted compelling data from Santiment, which shows that XRP whales are making substantial moves. 

    XRP whales bought over 380 million XRP in the past 10 days. | Source: Ali on X Santiment Chart

    In the past 10 days, these large holders have purchased over 380 million XRP, valued at approximately $228 million. This marks the highest level of whale accumulation since early August, a bullish signal for XRP. The accumulation of XRP by whales—often considered “smart money”—is a sign of strength and confidence in the token’s future price action. 

    Related Reading

    As the broader market continues to push higher, investors are optimistic that this accumulation could be an early indicator of a major rally for XRP in the coming days. With momentum building, many are positioning for the next big move.

    Price Levels To Watch 

    XRP is currently trading at $0.59 after several days of choppy price action, testing a supply level around this range. While XRP remains above the daily 200 moving average (MA) at $0.549—a sign of long-term strength—it has struggled to close above the $0.60 mark since late August.

    For bulls to trigger a move to new local highs, the price must reclaim the $0.60 level and hold above it. Doing so would set the stage for a challenge to a key liquidity zone around $0.65.

    XRP trading above 1D 200 MA, but struggles to close above $0.60.
    XRP is trading above 1D 200 MA but struggles to close above $0.60. | Source: XRPUSDT chart on TradingView

    The $0.65 price point has served as a significant resistance level, unbroken since early March. It’s also considered a psychological barrier that, if breached, could drive the price to higher levels rapidly. Investors and analysts are keeping a close watch on this level, as breaking through it would likely bring renewed bullish momentum.

    Related Reading

    However, if the price fails to close above the current price level in the coming days, a pullback toward the daily 200 MA around $0.55 is expected. This would mark a critical test of support, and any breach below this level could signal further downside risk for the token.

    Featured image from Dall-E, chart from TradingView

    [ad_2]

    Sebastian Villafuerte

    Source link

  • XRP ‘The Safest Investment To Make 100% ROI’ – Former Asset Manager Shares Price Targets

    XRP ‘The Safest Investment To Make 100% ROI’ – Former Asset Manager Shares Price Targets

    [ad_1]


    Este artículo también está disponible en español.

    XRP is holding strong above a critical price level after weeks of choppy price action, now testing local demand to push higher. Many analysts and investors remain confident about a potential surge in the coming months, with some projecting significant price gains once XRP consolidates above current levels. 

    Related Reading

    One top analyst and former asset manager, Amdtrades, shares this optimistic outlook, predicting a price increase above $1.26 shortly. Despite the confidence, uncertainty lingers across the broader market. 

    The next few days will be crucial in determining the overall direction of XRP and the crypto market. Analysts believe that how XRP performs during this period could either fuel bullish sentiment or lead to further consolidation. Investors are closely watching these developments, as XRP’s movement could set the tone for market trends in the coming months.

    XRP Could Surge To $1.26 In Weeks

    XRP has recently demonstrated notable resilience compared to other altcoins. It has held firm above key liquidity areas and signaled a positive outlook for the months ahead. Many analysts and investors are beginning to notice the potential for a substantial price surge shortly.

    One prominent crypto analyst, Amdtrades, with nine years of experience as an asset manager and derivatives trader, recently shared his technical analysis on X, highlighting XRP’s strong positioning. In his analysis, Amdtrades showcased a weekly XRP chart that clearly outlines a defined uptrend. This uptrend has been consistently respected by the price, suggesting solid monthly support that could serve as the foundation for further upward momentum in this market cycle.

    XRP monthly accumulation cycle with a $1.26 price target. | Source: Amdtrades on X XRPUSDT chart on TradingView

    Amdtrades views XRP as one of the safest investments for those seeking a 100% return on investment (ROI) in the crypto space. He has identified several key price targets for XRP, specifically around $1.18 and $1.26, which he anticipates will be reached in the coming weeks.

    Related Reading

    According to his analysis, if XRP continues to hold above current levels and successfully clears out local supply near $0.70, an aggressive surge toward these targets is highly likely.

    Such a breakout would not only validate XRP’s uptrend but also position the cryptocurrency for even higher price levels as bullish sentiment strengthens. As the market faces uncertainty, XRP remains a strong contender for those looking to capitalize on its strength and potential upside in the near term.

    Price Action Details

    XRP is currently trading at $0.587 after several days of volatility, following a 19% surge from local lows. The altcoin has struggled to break past this price level, but it remains above a critical support area. 

    XRP is trading above the 4-hour 200 exponential moving average (EMA) at $0.563, which has acted as a key indicator of short-term strength. This level was tested as support yesterday, confirming XRP’s recent stability despite volatile market conditions.

    XRP trading above the 4H 200 EMA.
    XRP is trading above the 4H 200 EMA. | Source: XRPUSDT chart on TradingView

    For bulls to maintain momentum, XRP must break above the $0.60 mark, confirming a higher high and signaling a move toward higher supply levels. Breaking this resistance would suggest the continuation of a bullish trend and potentially lead to a stronger recovery for the altcoin.

    Related Reading

    On the other hand, if XRP fails to maintain support above the 4H 200 EMA, it could face a deeper correction. A breakdown would likely lead the price to test local demand around the $0.545 level, putting short-term bullish hopes in jeopardy. Maintaining support at current levels is essential for a sustainable rally.

    Featured image from Dall-E, chart from TradingView

    [ad_2]

    Sebastian Villafuerte

    Source link

  • XRP Price Outlook: Expert Forecasts Potential Rise To $5.5

    XRP Price Outlook: Expert Forecasts Potential Rise To $5.5

    [ad_1]

    In the evolving cryptocurrency market, XRP, currently ranked as the fifth largest digital asset, has recently exhibited a modest price increase compared to its major counterparts. 

    However, when examining XRP’s performance across various time frames, the token has reported significant gains. Nonetheless, it is worth noting that XRP is currently trading well below its yearly high, in contrast to its peers who have achieved and surpassed new highs in 2023 during the recent bullish surge.

    Impending XRP Price Breakout?

    Prominent industry expert using the pseudonym “Crypto Insight” on the X platform (formerly known as Twitter) shared an intriguing update with his over 20,000 followers, signaling an impending XRP blastoff.

    According to Crypto Insight, it becomes apparent that XRP tends to lag behind the price action of Bitcoin (BTC), the leading cryptocurrency. However, there are indications that XRP breakouts are gradually converging with the movements of BTC.

    Analyzing historical data, Crypto Insight highlights that the time taken for XRP to experience significant breakouts has been decreasing over time. 

    The first major breakout took approximately 22 days, while the most recent pump occurred within a shorter time frame of 13 days. If this trend of closing the gap between XRP and BTC continues, it suggests a potential breakout date around November 15th.

    Additionally, XRP has undergone a cooling-off period in the 4-hour time frame, implying that there might be further room for a downside correction before a reversal to the upside occurs.

    Crypto Analyst Targets $5.5

    Crypto analyst Egrag Crypto has recently unveiled a noteworthy forecast for XRP, centering around the Multi-Year Ascending Triangle (MYAT) pattern, which holds significant implications for XRP’s price movements.

    XRP’s MYAT pattern. Source: Egrag Crypto on X.

    According to Egrag’s analysis, The MYAT pattern indicates that XRP experienced a breakout above the Symmetrical Triangle after reaching the 70% completion mark, which aligns with the timeline of July on the chart. 

    The surge in price to $0.93 and the subsequent retest at the breakout point are seen as part of a standard retest process, indicating potential strength in the upward momentum.

    Looking ahead, Egarg Crypto highlights several key projections for XRP:

    1. XRP appears to be poised to reach a target of $1.3, as indicated by the Blue Ascending Triangle on the chart. This level represents a significant milestone that XRP could potentially achieve in the near future.
    2. The next notable move for XRP could potentially propel it to $5.5. However, it is important to note that at this price level, a considerable selloff by retail investors is anticipated, according to Egrag. 
    3. Building upon the larger symmetrical triangle pattern, Egarg Crypto suggests that XRP could see a remarkable 500% price increase in the future, indicating the potential for a substantial pump. 
    XRP Price
    XRP’s consolidation above $0.600 on the daily chart. Source: XRPUSDT on TradingView.com

    Currently, XRP is grappling with the challenge of establishing consolidation above the crucial $0.600 level, which holds significant implications for the cryptocurrency’s future price uptrend and overall prospects. In the past 30 days, XRP has recorded a gain of 35%. 

    However, the sustainability of this price action for the anticipated second leg up in November remains uncertain.

    Featured image from Shutterstock, chart from TradingView.com 

    [ad_2]

    Ronaldo Marquez

    Source link

  • Ripple CEO Declares Intent To Bring XRP Battle To Supreme Court

    Ripple CEO Declares Intent To Bring XRP Battle To Supreme Court

    [ad_1]

    In a recent speech at the DC Fintech Week conference, Ripple CEO Brad Garlinghouse addressed the company’s regulatory hurdles. He expressed his views on the cryptocurrency landscape in the United States. 

    Ripple CEO Warns Of US Risking Market Share Loss

    According to a Fortune Magazine report, Garlinghouse acknowledged during his speech that despite Ripple’s success in court against the SEC, some US banks must be more cautious about engaging meaningfully with cryptocurrencies. 

    Garlinghouse attributed this reluctance to the perception that the US government and the Office of the Comptroller of the Currency (OCC) are “hostile to the crypto industry.” 

    While Ripple’s court victory in July was seen as a positive development, Garlinghouse believes that the SEC’s overall approach, coupled with Chairman Gary Gensler’s characterization of crypto as the “Wild West,” is hindering the industry’s growth in the US.

    Garlinghouse emphasized that while the US has hostility towards crypto, other countries actively welcome crypto companies and investments by providing clear regulatory policies. 

    As a result, the US risks losing its market share and failing to capitalize on its early advantage in the crypto space. Garlinghouse expressed his belief that the US can still become a leader in the industry but highlighted the urgency for clear and constructive regulatory frameworks to be established.

    CEO Vows To Escalate Legal Battle With SEC To Supreme Court

    Given the challenges faced in the US, Garlinghouse announced that Ripple would continue to expand its operations in other countries. He revealed that 80% of Ripple’s hiring in the current year will be conducted outside of the US, reflecting the company’s need to operate in more favorable regulatory environments. 

    Garlinghouse emphasized the importance of creating a hospitable environment for innovation and growth, suggesting that the current hostility in the US hinders Ripple’s ability to operate effectively within the country.

    During the conference, Garlinghouse expressed his willingness to escalate Ripple’s legal battle with the SEC to the Supreme Court. 

    Garlinghouse stated that Ripple is prepared to pursue legal avenues until a resolution is reached. This firm stance underscores Ripple’s commitment to addressing regulatory uncertainties surrounding XRP.

    Brad Garlinghouse’s remarks at the DC Fintech Week conference shed light on the ongoing regulatory challenges faced by Ripple and the wider cryptocurrency industry in the United States. 

    Despite recent court victories, Ripple encounters obstacles due to perceived hostility and a lack of clear policy guidance. Garlinghouse’s readiness to escalate the legal battle to the Supreme Court demonstrates Ripple’s determination to seek a resolution and establish a constructive regulatory framework.

    As Ripple expands its operations globally, the hope remains that the US will adopt more welcoming and supportive regulations to foster innovation and maintain its competitive edge in the evolving cryptocurrency landscape.

    XRP’s sideways price action over the past hours on the daily chart. Source: XRPUSDT on TradingView.com

    As of the current market update, XRP is trading at $0.6902, indicating sideways price movement over the past 24 hours. However, in the fourteen-day timeframe, the token has experienced a notable gain of 13%. 

    Featured image from Shutterstock, chart from TradingView.com 

    [ad_2]

    Ronaldo Marquez

    Source link

  • Pro-XRP Lawyer Reveals Why A $20 Million Settlement Is A Total Victory For Ripple

    Pro-XRP Lawyer Reveals Why A $20 Million Settlement Is A Total Victory For Ripple

    [ad_1]

    Ripple is now well on its approach to putting its extended legal battle with the SEC behind it, and a settlement is finally in sight. Prominent lawyer and XRP supporter John E. Deaton recently contributed his two cents, noting how a settlement would be the best case for Ripple. According to the attorney, it is a 99.9% victory if Ripple ends up paying $20 million or less in settlement.

    A Lengthy Legal Battle Almost Getting To An End

    The legal tussle between the US Securities and Exchange Commission and payment giant Ripple has dragged on for quite a while. The SEC filed a lawsuit against Ripple Labs in 2020, alleging that Ripple’s XRP token is an unregistered security. This shocking lawsuit sent shockwaves through the crypto community and XRP’s price growth remained stunted until the second part of this year. 

    Ripple secured partial victory for XRP in court, as the sales of the crypto to retail investors was deemed not to be sales of securities. Although federal Judge Analisa Torres rejected the SEC’s motion to appeal the Ripple ruling, the case is still in court as the category of the early sale of XRP to institutional investors is still yet to be determined. An order on the SEC and Ripple’s request to propose the next steps on the judgement regarding institutional sales of XRP was recently approved.

    The consensus among industry experts is that Ripple has won a partial victory with a score of 50-50, and that the next stage will be to reach a settlement. On the other hand, Deaton is of the opinion that the judge ruled “more like 90-10 in Ripple’s favor.” 

    Deaton made this known in a reply on social media to another post about the SEC’s setback in SEC v Govil. According to Deaton, a $20 million settlement payment or less would be a huge win for the blockchain company. It’s important to note that Deaton has suggested in the past that the SEC wants a $770 million settlement. 

    The SEC has since dropped its separate lawsuit against Ripple’s CEO, Brad Garlinghouse, and Co-founder, Chris Larsen. However, Larsen believes the regulator should be held accountable for its baseless witch hunt and the chaos which it created.

    XRP market cap currently at $34.542 billion. Chart: TradingView.com

    Precedent For Future Crypto Lawsuits

    The final outcome of Ripple’s legal battle with the SEC will have major implications for the entire crypto industry. It would provide clarity on how the SEC determines if a digital asset qualifies as a security. 

    As of right now, XRP is the only crypto with regulatory clearance in the US.  On the other hand, executives of SafeMoon were recently arrested by the US Department Of Justice for perpetrating a massive fraud on its investors.

    Featured image from Shutterstock

    [ad_2]

    Scott Matherson

    Source link

  • Is A Ripple IPO Good Or Bad For XRP? Expert Shares Reasons

    Is A Ripple IPO Good Or Bad For XRP? Expert Shares Reasons

    [ad_1]

    A number of intriguing developments have emerged, all of which point to cryptocurrency giant Ripple may be in the works of launching an Initial Public Offering (IPO). As expected, concerns have been raised among the XRP community about whether a Ripple IPO could negatively affect the price of XRP in the long run. But crypto expert Panos Mourkas isn’t worried, dismissing concerns about the launch of an IPO negatively impacting the price of XRP.

    Concerns Surface Over Ripple’s Planned IPO Hurting XRP

    Ripple hasn’t announced its going public yet, but crypto analysts have pointed to the company’s recent hiring trends as preparations. Crypto analyst Lewis Jackson pointed out this hiring trend in a YouTube video, signaling reactions from XRP enthusiasts. One concern that came from this video was a comment about an IPO being the death of Ripple. According to the comment, an  XRP “might pump off the news,” but then Ripple could “dump and manipulate XRP.” The screenshot of this comment was shared on X by Mason Versluis, sparking another round of debate. 

    https://x.com/MasonVersluis/status/1720530978064789910?s=20 

    However, according to Mourkas, Ripple’s IPO will likely increase interest in XRP rather than hurt it. It’s no news that the price of XRP is largely affected by happenings around Ripple. As Ripple’s visibility and credibility rise on Wall Street, more mainstream investors will recognize the potential of its offerings, one of which is XRP. This exposure and validation can attract new buyers to the XRP market, boosting demand and prices.

    https://x.com/panosmek/status/1720547127703560532?s=20 

    It’s also important to note that Ripple and XRP are two separate entities. XRP is an independent digital asset. Therefore, an IPO from Ripple will involve selling shares of Ripple stock, not XRP tokens. Experts have predicted Ripple’s valuation could exceed $100 billion after going public. Even if this valuation were to drop post-IPO, XRP remains independent with more utility beyond Ripple. 

    XRPUSD currently trading at $0.62757 level today. Chart: TradingView.com

    Future Of Ripple And XRP

    Ripple is now on its way to putting its ongoing legal tussle with the SEC behind it, and a settlement is now in sight. The company was recently selected by the National Bank of Georgia as an official partner for a pilot of the Georgian Lari currency. 

    XRP, on the other hand, is starting to grow without restraint after it was deemed not to be a security by a US federal judge. The crypto is up 13.73% in a seven-day timeframe and is looking to establish a strong footing over the $0.62 level. XRP was recently integrated into the Dubai crypto market by the Dubai Financial Services Authority. 

    In essence, recent happening point to a further potential upside for XRP when a Ripple IPO is fully established. According to one of Ripple’s co-founders, XRP price will climb to $10,000.

    Featured image from Freepik

    [ad_2]

    Scott Matherson

    Source link

  • Ripple And National Bank Of Georgia Join Forces For Digital Lari Pilot | Bitcoinist.com

    Ripple And National Bank Of Georgia Join Forces For Digital Lari Pilot | Bitcoinist.com

    [ad_1]

    In a recent development, Ripple has been selected by the National Bank of Georgia (NBG) as the official technology partner for its Digital Lari (GEL) pilot project. 

    The collaboration aims to explore the potential benefits and use cases of Ripple’s Central Bank Digital Currency (CBDC) platform for the public sector, businesses, and retail users. 

    Ripple’s expertise and commitment to the project’s success were key factors in its selection, as announced by the NBG.

    NBG And Ripple Forge Path To Digitalization

    According to the announcement, the National Bank of Georgia chose Ripple after a “rigorous selection process” involving nine shortlisted companies. 

    Ripple stated that the company’s “deep understanding” of the project’s objectives, extensive experience in real-life pilot deployments, and comprehensive CBDC solution, were instrumental in securing the partnership. 

    As announced, the platform provides a holistic end-to-end solution that enables central banks and financial institutions to “seamlessly” mint, manage, transact, and redeem CBDCs. 

    With the selection phase completed, the NBG is set to commence the pilot stage, testing the Ripple CBDC platform in a live environment to evaluate select use cases. 

    Per the announcement, the partnership also aligns with Ripple’s broader strategy of driving innovation and efficiency in blockchain-based transactions

    Ripple’s partnership with the National Bank of Georgia adds to its growing portfolio of CBDC pilots with governments and central banks worldwide. The company has already announced pilot programs with countries such as Bhutan, Palau, Montenegro, Colombia, and Hong Kong, and is in discussions with over 20 other countries. 

    Ripple’s Valuation Soars To $15 Billion

    Central Bank Digital Currencies provide digital versions of fiat currencies, eliminating concerns over price volatility as their values remain fixed. 

    China and India have launched CBDC pilots. China’s CBDC pilot is one of the most successful, with over 260 million wallets in use.

    Given these developments, Ripple’s valuation reached over $15 billion in 2023, and its partnership with multiple governments for CBDC pilots demonstrates its influence on this matter.

    Overall, Ripple’s partnership with the National Bank of Georgia for the Digital Lari pilot project marks an important milestone in the adoption of blockchain technology in the public sector. 

    Through the utilization of the company’s CBDC platform, the NBG aims to evaluate the practical applications and benefits of digital currency for stakeholders. 

    XRP’s price surge on the daily chart. Source: XRPUSDT on TradingView.com

    As of the current update, XRP has reclaimed the $0.600 level and is currently trading at $0.6112, reflecting a 1.3% increase in the past hour. The maintenance of this level as support is crucial for XRP bulls to anticipate additional gains and to restore previously lost levels.

    Featured image from Shutterstock, chart from TradingView.com 

    [ad_2]

    Ronaldo Marquez

    Source link

  • Ripple Vs. SEC: Appeal Unlikely To Happen Soon, Potential Delay Until 2024 | Bitcoinist.com

    Ripple Vs. SEC: Appeal Unlikely To Happen Soon, Potential Delay Until 2024 | Bitcoinist.com

    [ad_1]

    In a surprising twist, the US Securities and Exchange Commission (SEC) has dismissed its case against Ripple executives Brad Garlinghouse and Chris Larsen. 

    The dismissal agreement, reached by both parties, means that the scheduled trial for April next year will no longer proceed. However, it is important to note that while the charges against Garlinghouse and Larsen have been dropped, the SEC has not abandoned the case altogether.

    SEC’s Bid For Ripple Appeal Paused

    The development came to light when FOX Business journalist Eleanor Terret reported the dismissal, emphasizing that the SEC’s move did not signify the end of the case but rather the withdrawal of charges specifically against Garlinghouse and Larsen. 

    This revelation sparked confusion among some, prompting questions about the SEC’s intentions and potential appeals.

    Terret addressed these queries, clarifying that the SEC could potentially appeal the judge’s decision made on July 13th, which determined that XRP sales on exchanges were not securities. 

    However, Terret pointed out that the appeal process would only be possible after a final judgment is reached, which may take months to materialize. Consequently, the SEC’s appeal is not expected until next year.

    Executives Find Satisfaction In SEC’s Case Dismissal

    While Ripple and its executives celebrated the dismissal as a vindication of their position, legal experts and observers weighed in on the implications. 

    Ripple’s Chief Legal Officer (CLO) Stuart Alderoty, expressed satisfaction with the SEC’s decision, characterizing it as a surrender by the regulatory agency. The CLO highlighted that this marked the third consecutive victory for Ripple, following the July 13th ruling and the denial of the SEC’s bid for an interlocutory appeal on October 3rd. Alderoty stated:

    The SEC made a serious mistake going after Brad & Chris personally – and now, they’ve capitulated, dismissing all charges against our executives. This is not a settlement. This is a surrender by the SEC.

    Notably, pro-XRP lawyer Jeremy Hogan suggested that the dismissal increased the likelihood of a comprehensive settlement between Ripple and the SEC, as the remaining legal question primarily pertains to the financial terms of the resolution.

    The ongoing developments in the Ripple-SEC case have captivated the cryptocurrency community and beyond. 

    Ripple’s legal battle, which initially stirred controversy and uncertainty, has now taken an unexpected turn. The dismissal of charges against Garlinghouse and Larsen has opened the door to potential settlement negotiations, while the SEC’s appeal and the final judgment’s timing remain key factors to watch in the coming months.

    As the case continues to unfold, stakeholders eagerly anticipate further updates and resolution, hoping for clarity on the regulatory status of XRP and its potential impact on the broader cryptocurrency industry.

    XRP’s uptrend on the daily chart. Source: XRPUSDT on TradingView.com

    Currently, XRP is trading at $0.5192, experiencing a substantial 6.9% increase in the past 24 hours. This surge in value follows the release of significant news, which has positively impacted both XRP’s price and its overall gains across different time periods.

    Featured image from Shutterstock, chart from TradingView.com 

    [ad_2]

    Ronaldo Marquez

    Source link