XRP Will Defy The Altcoin Apocalypse: Ripple Chart Analysis

xrp will defy


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the odds of the altcoin apocalypse since the of the altcoin reached its 2019 high near the $0.50 as we can read from the charts in today altcoin news.

XRP is now trading at $0.26 and at least one analyst believes that the altcoin is primed for a major recovery. According to the chief analyst at ThinkMarkets Naeem Aslam, the cryptocurrency is way oversold and there is some tremendous value at its current level. According to the weekly charts, Aslam noted that the XRP price is below the 200-week moving average while its Relative Strength index as falling below 37. These indicators demonstrate that there have been some bear activities which are running out of steam now. The bullish call comes at a time when there is some growing talk of the altcoin apocalypse as it was demonstrated by ’s rapidly-climbing market share.

Back in March, the Bitcoin dominance was hovering about 50 percent and in the five month sicne then, it has ballooned to at about 69 percent which was the highest level in more than two-and-a-half years. The level of Bitcoin Dominance has reached the expanse of some other cryptocurrencies and in March, ’s market share was about 10 percent but is now standing at about 4 percent. This is a huge decline from the dominance level over 15 percent in January. The charts show that XRP will defy the odds of the altcoin apocalypse and the charts are screaming ‘’BUY’’ for as some analyst urge.

Cole Walton who is the head Trader at Kanos Capital Management and the co-founder of Plouton Mining noted that the increasingly competitive crypto landscape as a reason to be careful to tread when considering a XRP investment. As we can read in the latest cryptocurrency news:

“Although many of the technicals like RSI, and position relative to moving averages looks like XRP is severely oversold and bounce, traders should be cautious because the token has been falling out of favor with many crypto market participants, and there are many competing projects with similar characteristics and arguably a much better value proposition that have come to market.”

The post XRP Will Defy The Altcoin Apocalypse: Ripple Chart Analysis appeared first on DC Forecasts – Leading Digital Currencies.


Source: dcforecasts
XRP Will Defy The Altcoin Apocalypse: Ripple Chart Analysis

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XRP Whales Keep Making Major Moves Amidst Dwindling Prices

Whale Spotted: 20 Million XRP Moved To Bitstamp

On August 14, a major transaction in the cryptocurrency was recorded. An unknown user transferred 20 million tokens ($5.3 million) from Nexo to Kraken exchange.

Typically, such transactions indicate that the plan to dump the rate of crypto assets. Coins were transferred at 19:01 UTC. A sharp drop in the value of XRP occurred yesterday at 20:00 UTC; the digital asset fell in by 10.7% (from $0.288 to $0.257). Late at night, the XRP continued to decline.

The XRP trade amounted to $2 billion volume over the past day, and, most likely, the transferred coins have already been sold. Now whales plan to load up, hence a price correction by 3-5% is inevitable.

A trend dominates the given the dynamics of the exchange rate over the past three months. In this regard, the price of XRP continue to .

XRP Price Analysis

There was some stability and maintaining a price position above $0.2900 for XRP.

However, XRP was unable to maintain support levels at $0.2920 and $0.27. As a result, the price dropped sharply below $0.26. Over the past few sessions, the price of ’s XRP has fallen by more than 15% and exchanged for $0.25. A new low was formed around $0.2450 before the digital currency propelled a bit higher.

XRP could be set to overcome the $0.25 price level, as well as the correction level of the recent fall from a maximum of $0.2975 to a minimum of $ 0.2450. However, XRP faced many obstacles on its way up around the $0.27 level. It is also worth considering the formation of a short-term breakout model.

In this case, the next support is around the level of $0.26 as there’s already a risk of some fluctuation up to $0.2350.

It is also worth noting that the nearest pivot point is at around $ 0.13, i.e. the virtual currency may well fall in price by half according to Peter Brandt. The moving averages are in the red zone, the three main indices (relative strength, commodity channel and average directional) are located in the neutral zone.

Nevertheless, experts emphasize that such a drop will not be long-term for Ripple’s XRP, and the cost will be able to recover again.

The post XRP Whales Keep Making Major Moves Amidst Dwindling Prices appeared first on ZyCrypto.


Source: zycrypto
XRP Whales Keep Making Major Moves Amidst Dwindling Prices

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Ripple Price (XRP) Showing Recovery Signs, Bitcoin Back Above $10.2K

  • trimmed losses after it traded as low as $0.2336 against the US dollar.
  • The price is currently trading above the $0.2500 pivot level with a few positive signs.
  • A major contracting triangle pattern is forming with resistance near $0.2670 on the hourly chart of the /USD pair (data source from Kraken).
  • The pair is likely to recover towards the $0.2800 resistance as long as it is above the $0.2500 support.

Ripple price is showing signs of a decent recovery against the US Dollar, while bitcoin recovered 3%. XRP price must stay above the $0.2500 support area to continue its upside.

Ripple Price Analysis

Yesterday, there was a strong decline in Ethereum, and ripple price against the US Dollar. The XRP/USD pair declined sharply below the $0.2800 and $0.2500 support levels. Finally, the price settled below the 100 hourly simple moving average and a swing low was formed at $0.2336. Recently, the price started a decent recovery and climbed above the $0.2400 and $0.2500 levels.

Moreover, there was a break above the 23.6% Fib retracement level of the downward move from the $0.3088 swing high to $0.2336 swing low. However, the price is facing a strong resistance near the $0.2650 and $0.2700 levels. More importantly, the 50% Fib retracement level of the downward move from the $0.3088 swing high to $0.2336 swing low is acting as a hurdle.

At the moment, there is a major contracting triangle pattern is forming with resistance near $0.2670 on the hourly chart of the XRP/USD pair. If there is an upside break above the $0.2670 and $0.2700 resistances, ripple price continue to recover. The next key resistance is near the $0.2850 level and the 100 hourly SMA. If there are more gains, the price test the $0.3000 resistance area.

Conversely, if there is a break below the $0.2550 and $0.2500 support levels, the price could resume its decline. An immediate support below $0.2500 is near $0.2400. If the price fails to stay above $0.2400 or $0.2350, there could be a sharp drop towards the $0.2200 support area.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is facing an uphill task near the $0.2650 and $0.2700 levels. However, the current price action suggests that the price might climb higher towards $0.2800 and $0.2850. If not, there is a risk of another strong decline below the $0.2500 support area in the near term.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is slowly moving back into the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently moving lower towards the 40 level.

Major Support Levels – $0.2550, $0.2500 and $0.2400.

Major Resistance Levels – $0.2670, $0.2700 and $0.2800.

The post Ripple Price (XRP) Showing Recovery Signs, Bitcoin Back Above $10.2K appeared first on NewsBTC.


Source: newsbtc
Ripple Price (XRP) Showing Recovery Signs, Bitcoin Back Above .2K

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To Boost XRP Adoption, Ripple Gives 1 Billion XRP Tokens to Content Platform Coil

Coinspeaker
To Boost XRP Adoption, Ripple Gives 1 Billion XRP Tokens to Content Platform Coil

Despite the crypto revival in 2019, XRP has continued its laggard performance. ’s year-to-date performance sn negative as Ripple plans to flex its muscles and the .

In the recent scheme of things, ’s investment arm, Xpring has announced that it granted 1 billion XRP token to content platform Coil. With XRP’s today of $0.265, the total amount granted stands at $265 million.

This investment is allocated for the development of Coil’s web content monetization platform which help it to build a community of “creators, consumers and strategic partners”. The Coil platform uses an open web standard built on the Interledger Protocol (ILP) that facilitates micropayments in any currency including Ripple’s XRP.

Coil Platform Performance

Earlier in May 2019, Coil launched its monetized publishing platform that offers creators a possibility to publish exclusive content on Coil. All the content that is available on the Coil platform is automatically used for streaming payments. Everyone who has a desire to provide support for creators has a chance to become a part of the Coil community at a $5 monthly subscription fee. However, no membership fees for content creators are presupposed.

The Coil platform is looking to attract a wide range of content authors who make videos, films, articles, podcasts, music, photos, paintings, etc.

In the official release, Ethan Beard, Senior Vice President of Xpring said:

“Advertising and site-by-site subscription models are ready for disruption. The low cost and fast transactions of XRP make it an ideal tool for Coil to offer an alternative monetization method and have a positive impact on creators. At Xpring, we build infrastructure and support projects that enable the Internet of Value and increase the utilization of XRP — we’re excited to support Coil and the team in their journey.”

As more subscribers enjoy any particular content, Coil will facilitate the XRP micropayments to its creators with the help of the Interledger Protocol (ILP) in real-time. The ILP will allow sending and receiving any crypto asset and currency for payments. Creators can receive payments in different forms It can be a wire transfer, cheque,  ACH or in the XRP tokens.

“Creators want more choice and control over how their content is monetized and distributed. “Web Monetization provides a solution that is more fair, open and inclusive for creators and fans around the globe. This initiative will help us level the playing field for creators by providing a better way to support content across the web,” noted CEO and founder of Coil, Stefan Thomas.

To Boost XRP Adoption, Ripple Gives 1 Billion XRP Tokens to Content Platform Coil


Source: coinspeaker
To Boost XRP Adoption, Ripple Gives 1 Billion XRP Tokens to Content Platform Coil

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Market bleeds; XRP, Bitcoin Cash {BCH}, Litecoin {LTC} decline as altcoins see red – OBN

; , Cash {BCH}, Litecoin {LTC} decline as altcoins see red  OBNLitecoin is ranked at #5 on coinmarketcap, ahead of Binance Coin. The trading volume recorded is $3.326 billion, while the supply has 63,039,581 LTC tokens …
Source: worldnewsoffice
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XRP Could Fall 20%, Says Trader Accusing Ripple of Manipulating Market

Peter Brandy prepares traders for big losses


Source: cointelegraph
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Ethereum, Bitcoin and XRP Plunge Over 10% In Wide Market Sell-Off

Market Update: BTC Faces Slight Pull Back, Altcoins Significantly Halted As Bear Pressure Intensifies

The last 24 hours have been dramatic for the crypto . The bears have taken control and shown their might. Their influence has seen the wipe out more than $20 Billion in the last 24 hours. Top cryptocurrencies led by have taken big hits going as high as -15%, leading to a massive drop below key support levels.

The trend began with Bitcoin which dropped below $11K earlier yesterday. This spiraled in a couple of hours to see the asset drop below $10K by today’s morning. For , the situation has been far worse. After previously resisting the bearish pressure earlier yesterday, the top altcoin and much of the market succumbed when Bitcoin fell below $10,500.

Since Ethereum dropped below $200, the top altcoin has gone on a freefall. At the time of press, the asset has fallen under $180 and is recording a more than 14% drop. Other assets recording massive drops are , Bitcoin Cash, Litecoin, Stellar, and Cardano which are recording drops of more than 10%.

The market needs support. Bitcoin, the trendsetter, needs to find support quickly before the market can wipe out more billions.  Bitcoin be looking to find the bottom at $9,500 before bouncing back above $10K.

However, a bearish scenario see it go all the way to $9K. The $9K position is a more dangerous one with risk of further damage. For Ethereum, getting back above $180 is the first step before bouncing back above $185 to establish a more bullish sentiment.

What Triggered The Sell-off?

According to some reports, the massive drop was triggered by the Yuan gaining strength. The U.S-China trade war negotiations have been progressing well, easing the pressure on the Yuan. This has then seen the investors who bought Bitcoin as safe-haven cash out leaving the market in turmoil.

Another reason that could have seen the market turn bearish is the delay of more Bitcoin ETFs by the SEC. A few days ago the SEC delayed a decision on two Bitcoin ETF proposals by VanEck, SolidX, and Wilshire Phoenix. This will have certainly disappointed investors.

The post Ethereum, Bitcoin and XRP Plunge Over 10% In Wide Market Sell-Off appeared first on ZyCrypto.


Source: zycrypto
Ethereum, Bitcoin and XRP Plunge Over 10% In Wide Market Sell-Off

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Ripple Price (XRP) Decline Could Accelerate: BTC and ETH Weakens Further

  • declined sharply after it broke the key $0.2900 support area against the US dollar.
  • The price is down more than 10% and even tumbled to test the $0.2350 level.
  • A short term breakout pattern is forming with resistance near $0.2685 on the hourly chart of the /USD pair (data source from Kraken).
  • The pair is likely to accelerate its decline once it breaks the $0.2580 and $0.2500 support levels.

Ripple price is down and out against the US Dollar and bitcoin. XRP price is now trading in a crucial downtrend, with chances of more downsides towards the $0.2400 level.

Ripple Price Analysis

Yesterday, we saw moves in bitcoin, but ripple price remained stable above $0.2900 against the US Dollar. However, the XRP/USD pair failed to hold the $0.2920 and $0.2900 support levels. As a result, there was a sharp decline below the $0.2800 and $0.2720 support levels. The price declined more than 15% in the past few sessions and spiked sharply below $0.2500. A new swing low was formed near $0.2350 and the price recently corrected higher.

It broke the $0.2500 level plus the 50% Fib retracement level of the recent drop from the $0.2975 high to $0.2336 low. However, the price is facing a lot of hurdles on the upside near the $0.2700 level. At the outset, there is a short term breakout pattern is forming with resistance near $0.2685 on the hourly chart of the XRP/USD pair. Above the triangle resistance, the next resistance is near the $0.2740 level.

Moreover, the 61.8% Fib retracement level of the recent drop from the $0.2975 high to $0.2336 low is near the $0.2730 level. If there is a break above the $0.2750 resistance, the price recover towards the $0.2850 and $0.2900 resistance levels (the previous supports).

Conversely, if there is a downside break below the $0.2550 support, the price could accelerate losses. The next support is near the $0.2500 level, below which there is a risk of a sharp drop towards the $0.2350 swing low. If there are more downside, the next stop for the bears could be $0.2200.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is clearly trading in a bearish zone below the $0.2750 resistance. The current price action indicates more downsides below the $0.2550 and $0.2500 levels. It would be interesting to see how the bulls react if the price reaches the $0.2400 support area.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is slowly reducing its bearish slope.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is recovering above the 30 level.

Major Support Levels – $0.2550, $0.2500 and $0.2400.

Major Resistance Levels – $0.2700, $0.2750 and $0.2850.

The post Ripple Price (XRP) Decline Could Accelerate: BTC and ETH Weakens Further appeared first on NewsBTC.


Source: newsbtc
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Ripple’s XRP In A Bearish Slump Despite Recent Product Developments And Regulatory Clarity

Ripple (XRP) Price Analysis, Bears Take Control Of The Market

In the last 6 months, there has been plenty to report about Ripple. The company behind has gone to great lengths to ensure the success of . This has been appreciated by investors and seen more confidence built between the company and its investors.

However, while prices spike following immediate announcements of new development, XRP prices have remained low. Although the asset has seen massive development in the last few months, prices have failed to rally as expected.

As we reported, ’s recent activity has seen it overshadow Stellar which remains its main competitor. But in recent months, it has appeared that there is potential competition in Libra (if it is ever launched). executives have dismissed that Libra is a potential threat but given it is backed by the largest social media platform, one cannot dismiss its potential.

For now, XRP seems to be locked in the $0.29 and $0.32 range. With an all-year high of $0.50, the digital asset has a long way to go before turning extremely bullish. One thing investors are certain of is that when the asset turns strongly bullish, it will have strong support and will easily rally to new highs.

Regulatory Clarity In The U.K, Trouble In The U.S

Boosting its recent development is an announcement in the U.K. Regulators have shed clarity over XRP being a security or utility token. Financial Conduct Authority has revealed that XRP is a utility token like and .

This comes as some investors in the U.S amend a class action suit against Ripple. Led by investor Bradley Sostack, these investors claim that Ripple misled investors when selling them XRP. The investors explain that this misinformation saw them buy unregistered security (XRP).

With the matter now in the SEC’s door, Ripple is to respond sometime in September. The issue of XRP being security has long haunted Ripple and threatened its existence. If XRP was ruled to be a security, this would see the company face the authorities for the violation of federal law. It would also see XRP face additional scrutiny from regulators henceforth.

The post Ripple’s XRP In A Bearish Slump Despite Recent Product Developments And Regulatory Clarity appeared first on ZyCrypto.


Source: zycrypto
Ripple’s XRP In A Bearish Slump Despite Recent Product Developments And Regulatory Clarity

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XRP Massively Falls Amid New Lawsuit Claiming The Digital Asset Is An Unregistered Security

, the third largest digital asset in the , is currently experiencing a massive of almost 10% in the last 24 hours. This is according to data […]

The post XRP Massively Falls Amid New Lawsuit Claiming The Digital Asset Is An Unregistered Security appeared first on UseTheBitcoin.


Source: usethebitcoin
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