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Tag: xrpusdt

  • XRP Dips Under $3: Analyst Warns $2.6 Or Even $2 Could Be Next

    Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

    Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

    In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

    Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

    Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

    Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

    Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

    As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

    Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

    Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

    Keshav Verma

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  • XRP Price Set To Resume Upside: Is Momentum Building?

    XRP Price Set To Resume Upside: Is Momentum Building?

    Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

    From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
    As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

    In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

    Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

    Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

    At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

    In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

    Aayush Jindal

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  • XRP Open Interest Climbs To $1 Billion: What’s Driving Interest In The Token?

    XRP Open Interest Climbs To $1 Billion: What’s Driving Interest In The Token?


    Este artículo también está disponible en español.

    Ripple’s XRP token amassed close to $1 billion in open interest over the weekend, while its price hovers around $0.61 at press time, data from CoinGlass shows.

    What’s Different About XRP Price Action?

    While the top two cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), have been down 1.5% and 2.3% over the past week, XRP has been up 4.1% during the same period. Several factors could explain XRP’s counter-trend price action.

    For example, digital asset manager Grayscale Investments recently launched a closed-end XRP Trust in the US, enabling institutional investors to gain exposure to one of the top ten cryptocurrencies by reported market cap.

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    Grayscale’s Trust surged by more than 11% within a week, hinting at strong institutional demand for the seventh largest crypto-asset. 

    The launch of the Trust has also fuelled speculations about the potential approval of an XRP exchange-traded fund (ETF) shortly. If the US Securities and Exchange Commission (SEC) approves an XRP-based ETF, it would become only the third digital asset with its own ETF.

    Another key development in the Ripple ecosystem is the anticipated launch of its USD-pegged stablecoin, RLUSD. Currently, crypto analysts on X are closely watching the stablecoin in private beta testing on both the XRP and Ethereum networks.

    According to a recent update, 480,000 RLUSD was minted at RLUSD Treasury, signaling active development of the stablecoin before its integration into Ripple’s services, including its cross-border payment products. The stablecoin can also be used in decentralized finance (DeFi) protocols across blockchains.

    Implications Of Rising Open Interest

    Data from CoinGlass indicates that open interest in XRP surged to more $1 billion over the weekend before it tumbled to roughly $945 billion at press time. Spot trading volume in the last 24 hours stands slightly above $2 billion.

    Source: CoinGlass.com

    A rise in open interest typically indicates increased market activity, suggesting that more contracts are being opened. This may signal expectations of a price move in either direction, depending on the prevailing market sentiment. Notably, XRP’s open interest was last recorded around the $1 billion mark in March 2024.

    As for price action, crypto analysts have divided opinions on XRP. Ripple Labs’ recent legal victory over the SEC provided optimism for the altcoin bulls, with one analyst predicting that if the token overcomes key resistance levels, it could surge to between $16 and $20.

    Related Reading

    Meanwhile, another crypto analyst, Carl Runfelt, highlighted a multi-year bullish triangle pattern on the token’s chart. He noted that if XRP breaks the pattern and goes parabolic, it could rise by more than 200% within weeks.

    On the contrary, XRP’s inability to break through the $0.60 resistance level decisively could lead the token to retest the $0.55 support level. XRP trades at $0.61 at press time, down 1.6% in the past 24 hours.

    XRP
    XRP trades at $0.61 on the daily chart | Source: XRPUSDT on TradingView.com

    Featured image from Pixabay, charts from CoinGlass.com and Tradingview.com

    Ash Tiwari

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  • XRP Price Could Soon Surge: Can Bulls Fuel the Rally?

    XRP Price Could Soon Surge: Can Bulls Fuel the Rally?

    XRP price is attempting an upside break above $0.600. The price is showing positive signs, but a weekly close above $0.600 is needed for a fresh surge.

    • XRP price started another increase toward the $0.6050 zone.
    • The price is now trading above $0.5880 and the 100-hourly Simple Moving Average.
    • There was a break above a key bearish trend line with resistance at $0.590 on the hourly chart of the XRP/USD pair (data source from Kraken).
    • The pair could gain bullish momentum if it clears the $0.5950 and $0.600 resistance levels.

    XRP Price Could Gain Bullish Momentum

    XRP price remained well-supported above $0.5750 and started a fresh increase like Bitcoin and Ethereum. The price was able to clear the $0.580 and $0.5880 resistance levels.

    There was a break above a key bearish trend line with resistance at $0.590 on the hourly chart of the XRP/USD pair. The bulls were able to push the price toward the 50% Fib retracement level of the downward move from the $0.6123 swing high to the $0.5784 high at $0.5950.

    The price is now trading above $0.5880 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5950 level.

    The first major resistance is near the $0.600 level. The next key resistance could be $0.6050 or the 76.4% Fib retracement level of the downward move from the $0.6123 swing high to the $0.5784 high. A clear move above the $0.6050 resistance might send the price toward the $0.6120 resistance. Any more gains might send the price toward the $0.6280 resistance or even $0.6320 in the near term.

    Another Rejection and Drop?

    If XRP fails to clear the $0.600 resistance zone, it could start another decline. Initial support on the downside is near the $0.5880 level and the 100-hourly Simple Moving Average. The next major support is near the $0.580 level.

    If there is a downside break and a close below the $0.580 level, the price might continue to decline toward the $0.5720 support in the near term. The next major support sits at $0.5650.

    Technical Indicators

    Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

    Major Support Levels – $0.5880 and $0.5720.

    Major Resistance Levels – $0.5950 and $0.6050.

    Aayush Jindal

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  • 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?


    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. 

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    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

    Sebastian Villafuerte

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  • 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


    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. 

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    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

    Sebastian Villafuerte

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  • XRP Price To Crash To $0.33 Before Surge To $9 Post-SEC Appeal; Analyst Reveals

    XRP Price To Crash To $0.33 Before Surge To $9 Post-SEC Appeal; Analyst Reveals


    Este artículo también está disponible en español.

    Earlier in August, the XRP community got some positive news when the court ruled that Ripple Labs should pay a $125 million fine to the United States Securities and Exchange Commission (SEC) for selling unregistered securities. However, the regulator has been unhappy with this decision, leading to an appeal of the court’s decision. Naturally, the appeal has pushed back the finish line for the 4-year battle, but the end could still be very bullish for the XRP price.

    The XRP Crash Before The Surge

    While the SEC and Ripple continue to battle it out in court, a pseudonymous crypto analyst on the TradingView website who goes by the name AnalysisParalysis has shared their expectation for the XRP price. In this case, the crypto analyst expects that the altcoin’s price will rally. But not without first suffering a decline due to the SEC appeal.

    Related Reading

    According to the analyst, the SEC appeal is expected to come sometime before October 6, 2024, during which time they expect the XRP price to struggle. “I believe this will be the catalyst this time around that causes XRP to crash just before its going to go on a massive upward movement,” the analyst said.

    The initial crash here is expected to cross 30%, pushing the price as low as $0.33. However, after this, fireworks are expected to follow as the XRP price begins its uptrend. From here, the altcoin is expected to clear the $1 easily, moving toward new all-time highs in the process.

    As for how high the XRP price could go, the crypto analyst believes that it could rise as high as $8.80. If this happens, it would mean a 2,566% increase from the $0.33 lows expected after the price crash. The analyst speculates that the timeframe for the altcoin’s price to touch this new all-time high is sometime in summer 2025. So, somewhere between June and September 2025.

    The State Of The Ripple Vs. SEC Lawsuit

    Currently, the battle between Ripple and the SEC rages on as the regulator has appealed the court’s decision that secondary programmatic sales of XRP tokens do not count as a securities offering. The outcome of the appeal is still heavily debated but securities lawyer Marc Fagel has offered various possibilities.

    Related Reading

    On an X (formerly Twitter) post, Fagel stated;

    “The Court of Appeals could conclude the district court erred in stating that XRP is not itself a security; and if it is, then the holding on programmatic sales gets reversed. But they could also reverse the programmatic sales without addressing the question of XRP being a security per se (as seems more likely).”

    However, way the appeal does play out, the consensus remains that a final end to the battle between the crypto firm and the regulator would be good for the XRP price. Projections following the outcome have ranged from a price tag of $1 to as high as $100.

    Price maintains uptrend despite market decline | Source: XRPUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

    Scott Matherson

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  • XRP Resilience Sparks Further Gains As Price Surpasses $0.466 Level

    XRP Resilience Sparks Further Gains As Price Surpasses $0.466 Level

    My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

    My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

    I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

    When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

    Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

    My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

    Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.

    One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.

    I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.

    I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

    I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

    Godspower Owie

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  • XRP Price Maintains Support Level: What It Means For The Bulls

    XRP Price Maintains Support Level: What It Means For The Bulls

    XRP price climbed higher and tested the $0.4840 resistance zone. The price corrected gains but the bulls are able to protect the $0.4750 support.

    • XRP price is eyeing an upside break above the $0.4840 resistance zone.
    • The price is now trading above $0.4720 and the 100-hourly Simple Moving Average.
    • There is a connecting bullish trend line forming with support at $0.4760 on the hourly chart of the XRP/USD pair (data source from Kraken).
    • The pair might gain bullish momentum if there is a close above the $0.4840 resistance.

    XRP Price Corrects Gains

    XRP price started a decent upward move above the $0.4740 resistance like Bitcoin and Ethereum. The bulls were able to push the price above $0.480. However, the bears were active near the $0.4840 resistance zone.

    A high was formed at $0.4839 and the price recently started a downside correction. There was a move below the $0.4800 and $0.4780 levels. The price even spiked below the 50% Fib retracement level of the upward move from the $0.4695 swing low to the $0.4839 high.

    It is now trading above $0.4740 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $0.4760 on the hourly chart of the XRP/USD pair.

    On the upside, the price is facing resistance near the $0.480 level. The first major resistance is near the $0.4840 level. The next key resistance could be $0.4880. A clear move above the $0.4880 resistance might send the price toward the $0.5050 resistance.

    The next major resistance is near the $0.5120 level. A close above the $0.5120 resistance zone could send the price higher toward $0.5250. Any more gains might send the price toward the $0.5320 resistance.

    More Losses?

    If XRP fails to clear the $0.4840 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4765 level and the trend line.

    The next major support is at $0.4740, the 61.8% Fib retracement level of the upward move from the $0.4695 swing low to the $0.4839 high, and the 100-hourly Simple Moving Average. If there is a downside break and a close below the $0.4740 level, the price might continue to decline toward the $0.4640 support in the near term.

    Technical Indicators

    Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now just below the 50 level.

    Major Support Levels – $0.4765 and $0.4740.

    Major Resistance Levels – $0.4800 and $0.4840.

    Aayush Jindal

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  • Ripple’s 150 Million XRP Sale Keeps Price Surpressed Amid Bearish Headwinds

    Ripple’s 150 Million XRP Sale Keeps Price Surpressed Amid Bearish Headwinds

    Ripple has again raised concerns in the XRP community following its recent XRP sale. This comes amid XRP’s unimpressive price action, which continues to paint a bearish outlook for the crypto token. 

    Ripple Sells 150 Million Tokens

    On-chain data shows that the crypto firm offloaded 150 million XRP tokens ($78 million) on June 7. These tokens formed part of the 1 billion XRP tokens, which were recently unlocked as part of its monthly escrow unlock, which is set to continue until 2027. As expected, this sale has raised concerns, considering the impact many believe it could have on the market. 

    Related Reading

    Moreover, this sale follows Ripple’s recent unusual transactions, when the crypto firm moved 3 billion XRP tokens ($1.5 billion) across different wallets in the space of 30 minutes. However, crypto analyst Michael Nardolillo explained that those transactions were mainly internal movements and escrow re-lockups.  

    This recent sale of $150 million XRP tokens will again raise the theory of price suppression by Ripple. While it has been revealed that the crypto firm’s XRP sales have no impact on prices on crypto exchanges, it undoubtedly adds to the bearish sentiment that crypto investors already have towards the token. 

    Furthermore, Ripple’s XRP sales lead to a positive supply shock, with more XRP tokens being injected into circulation. Such development tends to have a negative impact on a crypto’s price and could lead to significant price declines. 

    It is also worth mentioning that this sale comes at a time when the market sentiment towards XRP is as bearish as it can be. This is partly thanks to the fact that the crypto token remains one of the worst-performing crypto assets since the year began, with a year-to-date (YTD) loss of over 18%. 

    XRP Will Still Be Great

    Despite XRP’s unimpressive price action, crypto analysts have continued to predict the crypto token will still have its moment when it will experience that price breakout and make a parabolic move to the upside. Crypto analyst Javon Marks recently mentioned that the XRP is about to make a name if it hadn’t already done so. 

    Related Reading

    He made this statement while revealing that a Hidden Bullish Divergence setup had formed on the altcoin’s chart. He claimed that XRP’s price went up by over 63,000% in less than a year the last time this happened. He suggested that such a move could be on the horizon again with XRP at its breaking point. Meanwhile, Crypto analyst CryptoBull also recently predicted that the cryptocurrency could enjoy a 28,900% rally and rise to $154. 

    At the time of writing, XRP is trading at around $0.49, down over 4% in the last 24 hours, according to data from CoinMarketCap. 

    Token price falls amid sell-offs | Source: XRPUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

    Scott Matherson

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  • Expert Charts 1,400% Course To $7.5 For XRP Price As RSI Falls To All-Time Low

    Expert Charts 1,400% Course To $7.5 For XRP Price As RSI Falls To All-Time Low

    Crypto analyst Egrag Crypto has provided another bullish narrative for the XRP price. This time, he outlined two scenarios that could occur and cause the crypto token to experience a breakout, potentially sending it as high as $7.5. This comes with the recent revelation that XRP’s Relative Strength Index (RSI) has reached its lowest ever. 

    Time For An XRP Price Breakout

    Egrag Crypto shared a chart in an X (formerly Twitter) post that showed that the crypto token could rise to $7.5 when it accomplishes the breakout, which the crypto analyst claimed is imminent. Egrag highlighted a “White Triangle” breakout on the chart, which he stated is “aligning perfectly” with the previous charts and the Fib 0.702 to 0.786 levels. 

    Source: X

    He added that the measured move is projected to be between $1.2 and $1.5 before XRP could take off and climb to $7.5. Egrag further remarked that the “critical breakout point” for XRP is around $0.70 and $0.7’5 and that the crypto token is “poised” to achieve this breakout in the “next couple of weeks.

    Egrag warned that XRP could still experience significant declines before then, stating that a retest of the breakout might be on the cards. However, he is convinced that a “MEGA RUN for XRP is on the horizon.”

    Meanwhile, for the second scenario of how XRP could achieve its impending breakout, Egrag Crypto highlighted an ‘Atlas Line’ on the XRP chart and claimed that the breakout point for XRP is at $0.6799. He noted that XRP is still holding strong “like a boss” on the atlas line, suggesting it shouldn’t be long before it breaks above $0.6799. 

    In the meantime, $0.5777 and $0.5000 are key price levels that XRP holders should monitor. Egrag labels them resistance and support levels for XRP’s upward trend along this atlas line. 

    XRP price 2
    Source: X

    XRP Hits Its Lowest RSI In History

    Egrag revealed in a more recent X post that XRP’s RSI is at its lowest ever. He noted that this assertion was based on the monthly time frame and shared a chart to prove his claim. Following his revelation, Egrag highlighted how bullish this was for XRP, stating, “If this isn’t a positive signal, I don’t know what is.”

    XRP price 3
    Source: X

    The chart he shared showed that XRP’s Relative Strength Index is at 38, which is indeed bullish for the crypto token. Low RSI levels are considered a buy signal since they suggest that the coin is oversold and undervalued. Therefore, crypto investors might be looking to accumulate XRP, with these buy orders expected to trigger a move to the upside for the crypto token. 

    At the time of writing, XRP is trading at around $0.52, up almost 1% in the last 24 hours, according to data from CoinMarketCap. 

    XRP price chart from Tradingview.com
    XRP price suffers drawdown | Source: XRPUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

    Scott Matherson

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  • XRP Bullish Outlook: Analyst Predicts Mega Run On The Horizon

    XRP Bullish Outlook: Analyst Predicts Mega Run On The Horizon

    In a strikingly optimistic forecast amidst favorable market conditions, cryptocurrency analyst and trader Edrag Crypto, has provided a bullish review for XRP, predicting that a massive run for the digital asset could be on the horizon.

    The analysis explores a confluence of positive market indicators and trends that demonstrates the potential for XRP to attract significant price surges and gains, positioning the coin as a promising asset in the ever-evolving world of cryptocurrency.

    Edrag Crypto’s bullish prediction for XRP is based on a Genuine Wake-Up line previously introduced by the expert, divided into two distinct sections, such as Break-out and Atlas Line.

    XRP Poised For Substantial Growth

    The analyst has expressed that while this wake-up line saw a successful breakout last year, it could not reach the heights anticipated by the analyst then. “Many moons back, I introduced the ‘Final Wake Up Line,’ which saw a breakout in July 2023. Yet, it didn’t quite soar to the heights we hoped for,” he stated.

    Related Reading

    However, Edrag Crypto spotted a new development on XRP’s chart two weeks ago, which he indicated as a white triangle. According to the analyst, highs from 2021 are being incorporated into the white triangle. 

    At that time, for XRP to witness a complete upward swing, it needed to break through the Genuine wake-up line with absolute conviction and then retest. Consequently, Edrag Crypto urged the community to remain firm, putting his wave 1 target at $7.5 and wave 3 at a 3-digit target, within the Macro wave 3.

    Presently, addressing the break-out aspect, the analyst has noted that the white triangle break-out is in perfect alignment with the Fibonacci 0.702 – 0.786 levels and his previous charts. It is expected that the measured move will be between $1.2 and $1.5, while the crucial break-out point is closer to $0.70 or $0.75.

    A mega run looms for XRP | Edrag Crypto on X

    Due to this, Egrag Crypto affirms that XRP will see a breakout from the point in the upcoming weeks. Despite the possibility of a retest of the breakout, the expert believes that a mega run for the crypto asset is imminent.

    The Atlas Line

    Delving into the Atlas Line aspect, Egrag Crypto underscored XRP’s resilience in this area. According to the analyst, the asset is dominating the atlas line with a solid grip like a boss.

    Related Reading

    He further pointed out a quick timeframe analysis revealing resistance at $0.5777, support at $0.5000, and a break-out point at $0.6799. Edrag Crypto’s prognosis has captured investors’ and enthusiasts’ attention alike, as they closely monitor these developments.

    At the time of writing, XRP was trading at $0.5284, indicating a 3% rise in the past week. While its market cap has reduced by about 1.28%, its trading volume has seen positive movement of more than 36% in the past day.

    XRP
    XRP trading at $0.5281 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from Shutterstock, chart from Tradingview.com

    Godspower Owie

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  • XRP Price Prediction: Analyst Says Prepare For 700% Jump To $4, Here’s When

    XRP Price Prediction: Analyst Says Prepare For 700% Jump To $4, Here’s When

    The bullish predictions for the XRP price are back, even with the bulls struggling to push the crypto on a price surge. EGRAG, a cryptocurrency expert, has made one of these positive forecasts, which is that there will be a price spike of tremendous magnitude. According to the analyst’s recent post on social media, XRP could reach the $4 price level over the long term. 

    Crypto Analyst Predicts 700% Bullish XRP Price Action

    XRP has experienced a small decline in value over the past few days as the entire crypto market consolidates in price action. XRP’s price movement this year has largely left many of its fervent enthusiasts feeling disappointed, particularly considering the fact that it is yet to reach the $1 mark as predicted by many analysts. 

    Data from Coinmarketcap shows XRP now finds itself bouncing around at the $0.51 price mark after retesting the $0.435 on April 13. However, according to EGRAG, this is poised to change soon.

    EGRAG, known for this very bullish stance on XRP, recently noted in his analysis that the current XRP price movement mimics the 2021 move which saw it breaking as high as $1.8. According to his analysis, EGRAG divided the price outlook into two sections blue and yellow, each depicting mirror images of 2021 price movement. 

    The blue section is more of a narrow price trajectory which suggests that XRP could reach $1.4 by June or July, with a price range between $1.2 to $1.8. Meanwhile, the yellow section is a more bullish price trajectory. According to the analyst, XRP could reach the $4 price level by June or July if it follows the yellow section of 2021’s movement. Interestingly, a surge to the $4 price level would put the price of XRP at a new all-time high.

    What’s Next For XRP?

    EGRAG is one of the many crypto analysts who are still bullish on XRP’s price trajectory. His long-term price projection for XRP is $27, which he believes is still viable. At the time of writing, XRP is trading at $0.5148, down by 16.8% in the past 30 days.

    This means in order to reach $4 in July, the bulls will have to push the crypto on a 677% increase in less than three months. Although the volatile nature of cryptocurrencies suggests this price run is possible, current market dynamics point to modest XRP price gains at best. 

    On the other hand, on-chain metrics have revealed that a bullish sentiment might be returning to XRP. Notably, the amount of XRP wallets holding at least 1 million coins has been surging recently, which could be a signal of a coming price surge. 

    XRP at $0.51 | Source: XRPUSDT on Tradingview.com

    Featured image from Coinpedia, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Scott Matherson

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  • XRP Heading To $100-$500? Analyst Provides Speculated Timeframes

    XRP Heading To $100-$500? Analyst Provides Speculated Timeframes

    Following an extended period of stasis, the price of XRP has suddenly begun to rise, fueling several bullish predictions regarding the altcoin’s direction from several cryptocurrency analysts. 

    Bullish Timelines For XRP

    The most current positive forecasts came from cryptocurrency expert and XRP enthusiast BarriC, who has established multiple timelines for the digital asset to rise to unprecedented heights in the long term. Taking to the X (formerly Twiter) platform, BarriC voiced his opinions, noting that as time goes on, crypto investors might have fewer chances to purchase cheap XRP. According to the analyst, inexpensive XRP today is defined as less than $0.80. 

    Furthermore, the expert underscored his prediction that XRP would trade between $1 and $3. BarriC specifically contended that by the time this bull market ends, a cheap XRP would be between the aforementioned price levels.

    Moving on, BarriC has regarded the crypto asset as undervalued between the $10 and $15 threshold in the next 4 to 5 years, particularly around the subsequent Bitcoin halving event and bull cycle between 2028 and 2029.

    If, toward the conclusion of the next bull run, XRP is cheap, trading between $10 and $15, then the analyst is expecting it to reach much higher prices at the peak of the bull cycle.

    BarriC envisions a significant surge from the anticipated $10 to a triple-digit landmark. Following the succeeding halving and bull cycle, which is expected to occur by 2032 and 2033, the analyst expects the token to also be undervalued at $100 and $500.

    Concluding his forecast, he affirms that market participants will always have access to affordable prices. However, it is up to those interested in the altcoin to decide how much funds they are willing to invest.

    $1,000 Is Possible In The Long Run

    It is worth noting that the analyst previously projected a $1,000 price mark for XRP. According to BarriC, XRP’s path over the coming several months and years promises to be exciting. He believes XRP’s price will rise as the cryptocurrency market expands and changes, and as a result, it will be poised for massive growth and more widespread adoption.

    Given his expectations for greater mass adoption and growth of the coin in the upcoming months and years, he foresees a peak of $1,000 in the long term. Other prices set aside by the expert to watch out for include $1, $5, $10, $50, $100, and $500.

    Whether in the short term or long term, BarriC is confident the token will change people’s lives.

    XRP trading at $0.6009 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Godspower Owie

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  • Crypto Analyst Reveals Why Most Realistic XRP Price Lies Between $13 And $39

    Crypto Analyst Reveals Why Most Realistic XRP Price Lies Between $13 And $39

    The future of the XRP price has been a hot topic of contention among crypto analysts for a while now. Most of these analyses focus on the possible movements of the price as the bull market unfolds, as well as possible price targets. In the same vein, crypto analyst CryptoBull has presented their own bull case for the altcoin, giving the most realistic price targets.

    Long Time Price Channel Shows Realistic Price

    In the analyst CryptoBull posted on X (formerly Twitter), he shows the historical price movement of the altcoin going as far back as 2014. The analyst uses this to deduce the possible trajectory of the XRP price in the coming months using the XRP price channel.

    According to CryptoBull, using this data, the most realistic price for the altcoin currently sits somewhere between $13 and $39. ”The long-term price channel shows the most realistic #XRP price between $13 and $39 in the coming months!” CryptoBull stated.

    While the lower end of this channel of $13 was more realistic, the upper end of $39 has drawn criticism from the community. In response to CryptoBull’s prediction, another X user, Ben McClymans, said it was “crazy talk.” This is because for XRP’s price to reach $39 per coin, then its market cap would have to be larger than that of Ethereum, which is currently the second-largest cryptocurrency in the market.

    However, other community members jumped to the defense of XRP, reminding Ben that the market cap of XRP had actually flipped Ethereum before. Given this, they believe that it is possible that it will end up flipping to Ethereum once again.

    XRP Price Performance Worries Investors

    The XRP price performance over the last few years has worried investors because while other altcoins were hitting new all-time highs, XRP continued to struggle. However, this is understandable given that the United States Securities and Exchange Commission (SEC) sued Ripple in 2020, which adversely affected XRP’s performance.

    The XRP price had crashed off the back of the announcement alone and did not recover as well as expected. There is a light at the end of the tunnel, though, as the lawsuit with the SEC seems to be coming to an end. The court looks to be leaning toward a settlement, which would put an end to the case once and for all.

    To get an idea of what could happen with the XRP price when the lawsuit is over, we can take a look at what happened when Ripple secured a partial victory over the SEC in 2023. After Judge Analisa Torres declared that XRP programmatic sales did not qualify as securities, XRP jumped more than 60% in a single day.

    The lawsuit is currently the biggest hindrance to the XRP price performance, and expectations are that the price will surge once it’s over. If it does so, then CryptoBull’s prediction could end up playing out.

    XRP trending at $0.58 | Source: XRPUSD on Tradingview.com

    Featured image from Bitcoinist, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Scott Matherson

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  • XRP Price Soars: Analyst Predicts Surge Beyond $200

    XRP Price Soars: Analyst Predicts Surge Beyond $200

    In spite of a slight adverse trend in the crypto market, XRP has been gradually rising in recent days, fueling positive and bullish predictions from market analysts to unprecedented heights.

    XRP Might Rally To New All-Time High Sooner Than Expected

    Javon Marks, a cryptocurrency expert and internet personality, has revealed his optimism towards XRP, sharing a daring prediction regarding the crypto asset’s future with the community on the social media platform X (formerly Twitter).

    According to the crypto expert, XRP might be poised to undergo a significant movement that will send prices to unprecedented heights, where he highlighted that there is a possibility that XRP can rally beyond the $200 price mark.

    Marks noted that the digital asset is presently experiencing “another set of higher lows” that are holding. In addition, he pointed out that “another breakout” has taken place in the XRP chart.

    A potential rise to $200 and above | Source: Javon Marks on X

    As a result of this, XRP could witness “a massive upward movement” to New All-Time highs (ATHs), which Javon Marks expects to commence soon.

    The post read:

    A $200+ XRP (Ripple) can be possible. Another set of Higher Lows are holding and another breakout has taken place, meaning that a massive upside move to new All Time Highs can be commencing soon.

    The crypto analyst’s analysis aligns with a historical trend that had previously occurred in 2018, sending XRP’s price to its current ATH of $3.3. Prior to the surge, the token fell from the December 2013 high of $0.06, creating a bearish declining trendline.

    For several years, XRP was below this declining trendline, with two unsuccessful breakout trials during that timeframe. Nonetheless, after failing to break out twice, the coin persisted and managed to break out in 2017.

    After this breakout, it increased by over 63,000% to its present all-time high price of $3.3. Based on Mark’s predictions, it indicates that this precise trend is manifesting right now.

    However, some community members have expressed their displeasure with the analyst’s projections. A pseudonymous X user disagreed with Marks saying “It does not make any sense” given the “basic tokenomics” of the crypto asset.

    The Crypto Asset Poised For A Move Above $0.60

    Cryptocurrency analyst Ali Martinez has underscored the potential for XRP to move past the $0.60 price mark. According to his post, Martinez’s position was influenced by the observation made by the Tom DeMark (TD) Sequential.

    He stated that the TD Sequential indicator has formed a buying signal on the token’s chart. Consequently, this indicates a possible bullish momentum for XRP to move higher. 

    He further asserted that if it manages to maintain its weekly close above $0.57, it could serve as a catalyst for an upswing to $0.63 or even further, setting his target at $0.65 

    As of the time of writing, XRP was trading at $0.538, demonstrating a decline of 1.39% in the past day. Its market cap is down by 1.42%, while its daily trading volume is up by over 4%, according to CoinMarketCap.

    XRP
    XRP trading at $0.5347 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Godspower Owie

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  • XRP Price Prediction: A Fresh Rally Is Around The Corner?

    XRP Price Prediction: A Fresh Rally Is Around The Corner?

    XRP price is consolidating below the $0.538 resistance. The price could start a fresh rally if it clears the $0.5380 and $0.5500 resistance levels.

    • XRP is struggling to clear the $0.5350 and $0.5380 resistance levels.
    • The price is now trading above $0.520 and the 100 simple moving average (4 hours).
    • There is a key bullish trend line forming with support at $0.5170 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
    • The pair could start a fresh rally if it clears the $0.5380 and $0.5500 resistance levels.

    XRP Price Eyes Fresh Rally

    In the past few days, XRP price recovered higher from the $0.4980 zone. There was a move above the $0.505 and $0.5120 resistance levels. However, the bears remained active near the $0.5380 resistance and protected more upsides, unlike Bitcoin and Ethereum.

    The recent high was formed at $0.5375 before there was a downside correction. There was a move below the $0.5220 level. The price even spiked below the 50% Fib retracement level of the upward move from the $0.4980 swing low to the $0.5375 high.

    Ripple’s token price is now trading above $0.520 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $0.5170 on the 4-hour chart of the XRP/USD pair. On the upside, immediate resistance is near the $0.5300 zone.

    Source: XRPUSD on TradingView.com

    The first key resistance is near $0.5380, above which the price could rise toward the $0.550 resistance. A close above the $0.550 resistance zone could spark a strong increase. The next key resistance is near $0.5850. If the bulls remain in action above the $0.5850 resistance level, there could be a rally toward the $0.600 resistance. Any more gains might send the price toward the $0.620 resistance.

    Another Decline?

    If XRP fails to clear the $0.5380 resistance zone, it could start another decline. Initial support on the downside is near the $0.518 zone and the trend line.

    The next major support is at $0.5120. If there is a downside break and a close below the $0.5120 level, the price might accelerate lower. In the stated case, the price could retest the $0.480 support zone.

    Technical Indicators

    4-Hours MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

    4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now near the 50 level.

    Major Support Levels – $0.517, $0.512, and $0.480.

    Major Resistance Levels – $0.530, $0.538, and $0.550.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    Aayush Jindal

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  • Kraken Notifies XRP Holders Of Benefits From Zakinov Case

    Kraken Notifies XRP Holders Of Benefits From Zakinov Case


    Crypto exchange Kraken started notifying affected XRP holders about the potential monetary benefits they could receive from the class action lawsuit against Ripple.

    The exchange recently emerged victorious in the Zakinov v. Ripple Case. The exchange successfully intervened to protect its customers’ data from being shared without their consent.

    Kraken Begins The Notification Process

    Kraken, one of the largest crypto exchanges in the world, intervened in the Zakinov v. Ripple lawsuit, seeking to protect its customer’s privacy and data. The court ruling allowed Kraken to inform the affected users about the class action against Ripple, ultimately giving the customers the option to decide whether to participate in the lawsuit.

    Kraken has now begun to notify eligible customers about the potential monetary benefits from the Zakinov v. Ripple lawsuit. The notification is aimed at Kraken users who purchased XRP during the previously established period, as the email stated:

    Our records indicate that you have purchased XRP on Kraken between July 2, 2017 and June 30, 2023, which means that it might be within your rights to receive money or benefits that come from the lawsuit, depending on the outcome.

    Yassin Mobarak, Dizer Capital Founder, was among the recipients, and he shared part of the email on X (formerly known as Twitter), expressing his surprise about the notification and the possibility of earning a profit from his XRP holdings through the class action lawsuit.

    Mobarak expressed his initial disbelief in the email’s legitimacy, as recent phishing attacks exploited official email accounts of actors in the Web3 industry and exposed users to a massive and sophisticated phishing campaign.

    The legitimacy of the emails was doubted by several Kraken customers who sought confirmation from the exchange’s official X account. Kraken’s support team confirmed the email as safe and authorized by the exchange.

    Next Steps For XRP Holders

    Following the notification, Kraken has updated its support page to provide customers with further details about the class action lawsuit.

    The exchange addressed doubts such as who the affected parties are, clarifying that it “only applies to class members who purchased XRP within the United States during the relevant class period” and offering further information about the lawsuit:

    The lawsuit also claims that persons or entities who purchased XRP during the class period (July 3, 2017, to June 30, 2023) have the right to recover (a) the consideration paid for the XRP, with interest, if they retained the XRP, less the current price of the XRP or upon tendering the XRP, or (b) damages if they sold the XRP at a loss.

    Lastly, the exchange presented two options for the affected customers: do nothing or ask for an exclusion from the lawsuit.

    If the customer decides to do nothing, they will keep the possibility of getting the money or benefits from the lawsuit’s resolution. However, they automatically give up on any rights to sue Ripple separately in the future.

    If they decide to be excluded from the class action and the potential benefits, XRP holders maintain the right to sue the defendant and must send a signed “Exclusion Request” statement by April 5, 2024.

    XRP is trading at $0.52325 in the hourly chart. Source: XRPUSDT on TradingView.com

    Featured image from Unsplash.com, Chart from TradingView.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.





    Rubmar Garcia

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  • XRP Price At Make-Or-Break Moment, Key Levels To Watch

    XRP Price At Make-Or-Break Moment, Key Levels To Watch


    XRP price is struggling to clear the $0.520 resistance. The price could gain bearish momentum if there is a close below the $0.4850 support.

    • XRP is showing bearish signs below the $0.520 and $0.508 resistance levels.
    • The price is now trading below $0.520 and the 100 simple moving average (4 hours).
    • There is a connecting bearish trend line forming with resistance near $0.5120 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
    • The pair is now at risk of more downsides below the $0.5000 support zone.

    XRP Price Faces Many Hurdles

    In the past few days, XRP price saw a downside reaction below the $0.550 pivot level. The bears remained active and were able to push the price below the $0.500 support zone.

    Recently, there was a recovery wave above the $0.500 level. The bulls pushed the price above the 50% Fib retracement level of the downward wave from the $0.5390 swing high to the $0.4850 low. However, the bears were active near the $0.525 resistance.

    Ripple’s token failed to clear the 76.4% Fib retracement level of the downward wave from the $0.5390 swing high to the $0.4850 low. XRP is now trading in a bearish zone below $0.508 and the 100 simple moving average (4 hours), unlike Bitcoin and Ethereum.

    On the upside, immediate resistance is near the $0.512 zone. There is also a connecting bearish trend line forming with resistance near $0.5120 on the 4-hour chart of the XRP/USD pair. The first key resistance is near $0.520, above which the price could rise toward the $0.5320 resistance.

    Source: XRPUSD on TradingView.com

    A close above the $0.5320 resistance zone could spark a strong increase. The next key resistance is near $0.5550. If the bulls remain in action above the $0.5550 resistance level, there could be a rally toward the $0.5840 resistance. Any more gains might send the price toward the $0.6000 resistance.

    More Downsides?

    If XRP fails to clear the $0.5120 resistance zone, it could continue to move down. Initial support on the downside is near the $0.500 zone.

    The next major support is at $0.485. If there is a downside break and a close below the $0.485 level, the price might accelerate lower. In the stated case, the price could retest the $0.450 support zone.

    Technical Indicators

    4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

    4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

    Major Support Levels – $0.500, $0.485, and $0.450.

    Major Resistance Levels – $0.512, $0.520, and $0.532.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



    Aayush Jindal

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  • Ripple Initiates Large XRP Transactions Post Legal Setback

    Ripple Initiates Large XRP Transactions Post Legal Setback


    Ripple Labs, a leading cryptocurrency payment firm, has been seen moving millions of XRP tokens following the United States Securities and Exchange Commission’s (SEC) recent victory in a legal dispute.

    Ripple Moves Millions Of XRP As Price Holds Steady

    According to a recent report, Ripple Labs moved a whopping 120 million XRP tokens valued at about $60.8 million. The move has caused quite a stir within the XRP community and heightened sell-off anxiety in the face of increased market volatility.

    This comes after the payment firm experienced a legal setback in court on Monday. The SEC’s motion to force Ripple to provide its financial statements for XRP was granted by the Southern US District Court of New York.

    It was reported by Bithomp that the aforementioned funds were transferred to a Ripple-related wallet that was used for massive transfers. Data from Bithomp revealed that the wallet address rBg2Fu…uJ4vt5x1o91m moved the funds to a separate wallet address rP4X2hTa7…XvPz7XZ63sKxv3. This indicates that the transaction might include the transfer of such large amounts using other wallets or companies under Ripple’s control.

    Furthermore, the transfer might just be connected to Ripple’s payment services. As a result, it will allow banks to utilize XRP to send funds across borders almost instantly and for a minimal cost. 

    It is noteworthy that the address that received the funds has transferred a notable portion of the XRP tokens. However, the address still contains about 90 million XRP valued at approximately $45 million.

    Bithomp also reported that the firm was seen moving about 53.75 million XRP tokens valued at about $27.5 million. Data from the on-chain platform shows that the wallet address rKveEy…ZsoGMb3PEv transferred the funds to another wallet address rPfSrrKY…R7g1tYzDDJoAys.

    The Payment Firm Brings XRP To The US Market

    Ripple has announced its plan to transform international payments in the US with XRP and its payment services. According to the firm, they will be introducing “new product updates that will cover the majority of US states.”

    These fresh products are going to be powered by its Money Transmitter Licenses (MTLs). Initially, Oliver Segovia, Senior Director and Head of Product Marketing for Payments at Ripple, shared the announcement on Linkedin. 

    Segovia explained that although Ripple’s global headquarters is located in the US, 90% of its businesses serve organizations outside. Specifically, he acknowledges that for the last three years, the firm has remained somewhat quiet in the US market.

    Despite these developments, XRP’s price has still been down by 5.42% in the past week, holding steady at $0.50. Interestingly, its trading volume has increased by over 25% in the past 24 hours.

    XRP trading at $0.5039 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from iStock, chart by Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



    Godspower Owie

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