The vehicle will focus on data center investments across the U.S, United Arab Emirates, Saudi Arabia, India, and Europe, claiming to be the "world’s first combined equity and debt tokenized fund."
XRP price is struggling to clear the $0.5550 resistance. It must stay above the $0.5250 support zone to attempt a fresh increase in the near term. XRP price is consolidating above the $0.5320 zone. The price is now trading below $0.5500 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $0.5500 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.5550 and $0.5580 resistance levels. XRP Price Trades In A Range XRP price remained stable above the $0.5320 support zone. It started a decent increase above the $0.550 level, but the bears were active near the $0.5600 resistance zone. A high was formed at $0.5600 before the price started to decline like Bitcoin and Ethereum. There was a decline below the $0.5550 and $0.550 levels. Besides, there was a break below a connecting bullish trend line with support at $0.5500 on the hourly chart of the XRP/USD pair. The price dipped below the 50% Fib retracement level of the upward move from the $0.5375 swing low to the $0.5600 high. The price is now trading below $0.5460 and the 100-hourly Simple Moving Average. The bulls are now protecting the 76.4% Fib retracement level of the upward move from the $0.5375 swing low to the $0.5600 high. On the upside, the price might face resistance near the $0.5460 level. The first major resistance is near the $0.5500 level. The next key resistance could be $0.5550. A clear move above the $0.5550 resistance might send the price toward the $0.5600 resistance. Any more gains might send the price toward the $0.5800 resistance or even $0.5880 in the near term. The next major hurdle might be $0.6000. Another Drop? If XRP fails to clear the $0.5500 resistance zone, it could start another decline. Initial support on the downside is near the $0.5420 level. The next major support is near the $0.5365 level. If there is a downside break and a close below the $0.5365 level, the price might continue to decline toward the $0.5320 support in the near term. The next major support sits near the $0.5250 zone. 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 below the 50 level. Major Support Levels – $0.5420 and $0.5365. Major Resistance Levels – $0.5500 and $0.5550.
Ripple co-founder Chris Larsen said that he has donated another $10 million in XRP to help boost Kamala Harris in the U.S. election.
The entire crypto market is enjoying a strong surge, yet XRP has been lagging, remaining stuck below the crucial $0.55 level since the start of October. Analysts and investors are closely watching for signs of strength and confirmation that XRP is poised for significant gains in this market cycle. Key data from Santiment offers a glimmer of optimism. It shows a notable spike in active wallets on the XRP Ledger, which could signal growing interest and accumulation. Related Reading: Dogecoin Breaks Above $0.12 Level – Time For DOGE To Catch Up? As the broader market continues to push higher, the coming days are pivotal for XRP. Investors hope for a breakout from the weeks of sideways consolidation that have kept its price action subdued. A decisive move above $0.55 could ignite bullish momentum and put XRP on track to catch up with the broader market rally. For now, the market eagerly awaits further developments, with many anticipating that XRP’s moment may finally be approaching. XRP Ledger Activity Signals A Shift XRP remains one of the most popular altcoins in the crypto market, yet many investors are increasingly concerned as the price has struggled to reclaim local highs around $0.65. Despite the lack of upward momentum, critical data from Santiment offers a glimmer of hope. The XRP Ledger recently experienced a significant spike in activity, with 35,799 unique wallets making at least one transfer daily, marking the highest activity level in over three months. In addition, 3,858 new wallets were created in a single day, the largest increase over seven months. This surge in network activity is a promising sign for XRP, as spikes in active wallets and new addresses often precede major price movements. The growing interest in XRP could be an early indicator of an impending shift in price action, especially as the broader market trends upwards. However, the price must still exceed the local highs of around $0.65 to confirm a bullish trend. While the network data points to potential growth, the coming weeks will be crucial for XRP’s price movement. Related Reading: Bitcoin Whales ‘Grew Substantially’ During Last Dip, Data Shows Large-Holder Accumulation If it can reclaim key resistance levels, XRP may finally align with the overall market’s bullish sentiment, providing a more optimistic outlook for its investors. Price Action: Technical Levels To Watch XRP is trading at $0.555 after three weeks of sideways movement. It remains below the 4-hour 200 exponential moving average (EMA), but it is now testing this key indicator as resistance. A successful breakout above the 200 EMA, followed by consolidation and holding it as support, would likely signal a surge to higher supply zones around $0.60 and potentially $0.65. This breakout would confirm renewed bullish momentum, encouraging investors to wait for a clear upward trend. However, if XRP fails to break above the 200 EMA and these critical resistance levels, a retrace to $0.52 or even lower could be imminent. Failing to breach this resistance would point to further consolidation or even a correction as the market seeks lower liquidity levels. Related Reading: Solana Struggles To Break $160 Resistance As Top Analyst Predicts A Coming Surge As XRP continues to test this key technical level, the next few days will be pivotal in determining whether the altcoin can finally break out of its range-bound trading and follow the broader market’s bullish sentiment. Featured image from Dall-E, chart from TradingView
Chris Larsen suggested that Democratic lawmakers could have a “new approach to tech innovation” under a Kamala Harris presidency starting in 2025.
Elon Musk, CEO of Tesla and SpaceX, directly mentioned XRP for the first time during a Town Hall meeting in Pittsburgh, Pennsylvania. The dialogue unfolded when an attendee, seemingly a supporter, asked Musk: “Do you envision the XRP Ledger being incorporated into financial institutions in the future?” He responded thoughtfully: “I do think that cryptocurrency […]
Ripple Labs is approaching a pivotal turning point with a potential initial public offering (IPO), a development that has been speculated about for some time. An IPO could be a transformative moment reminiscent of Amazon.com Inc.’s initial public offering (IPO) in 1997. Jake Claver, a Qualified Family Office Professional (QFOP), articulates this perspective in a thread on X, suggesting that Ripple’s strategic maneuvers could mirror the trajectory that propelled Amazon into a global tech behemoth. According to Claver, the company has cemented its position within the blockchain ecosystem through its robust cross-border payment solutions, currently supporting over 300 financial institutions worldwide. The company’s utilization of XRP, enables transactions that are markedly faster and more cost-effective compared to those processed via the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network. Claver emphasizes, “This positions Ripple as a faster, more transparent SWIFT 2.0.” Despite these accomplishments, Ripple has navigated substantial challenges, most notably its legal battle with the US Securities and Exchange Commission (SEC). However, recent court rulings have favored Ripple, potentially clearing the path for larger opportunities, including a public offering. Claver notes, “The recent court rulings in Ripple’s favor could open doors to bigger opportunities, like going public.” Why Ripple Is Like Amazon In 1997 Drawing a parallel to Amazon’s evolution, Claver observed, “Just as Amazon was known as an online bookstore before its IPO, Ripple is recognized for its blockchain solutions. But there’s potential for much more.” He further elaborated, “When Amazon went public, it raised $54 million, enabling expansion into new markets.” Ripple also stands to unlock potentially massive growth opportunities through a public listing. Related Reading: Community To Collectively Send XRP Price On 1,800x Rally To $1,000 Ripple’s strategic acquisitions, including that of Metaco—now rebranded as Ripple Custody—demonstrate its intent to broaden its market presence. Claver remarks, “With acquisitions like Metaco, now Ripple Custody, they’re already showing an interest in expanding their reach. This could be just the beginning.” The potential implications of Ripple opting for an Initial Public Offering (IPO) or a direct listing are multifaceted. Claver outlines that an IPO would provide Ripple with fresh capital, enabling rapid scaling and entry into new markets such as tokenized securities, real-world assets (RWAs), and decentralized finance (DeFi). He states, “An IPO would provide Ripple with fresh capital, enabling them to scale quickly and enter new markets like tokenized securities, RWAs, or DeFi.” Moreover, the influx of capital from an IPO could facilitate further acquisitions, allowing the company to expand its offerings and strengthen its portfolio. Claver draws a direct comparison to Amazon’s acquisitions, noting, “Ripple could use IPO funds to acquire other companies and expand its offerings. Similar to Amazon’s acquisitions of Whole Foods and Twitch, Ripple could break into new markets and strengthen its portfolio.” Enhanced financial resources would also empower Ripple to accelerate its research and development efforts. Claver explains, “More resources would allow Ripple to accelerate R&D, improve the XRP Ledger, and explore new applications like smart contracts, tokenized real-world assets, and central bank digital currencies (CBDCs).” Related Reading: Ripple Co-Founder Chris Larsen Sends $1 Million XRP Donation To Kamala Harris Claver differentiates between the two primary routes to going public: an IPO and a direct listing. He elaborated, “An IPO involves issuing new shares to raise capital, typically underwritten by investment banks, but comes with costs like underwriting fees and regulatory requirements. In contrast, a direct listing does not involve issuing new shares; instead, existing shareholders sell their shares on the market. This method is generally less costly and quicker than an IPO.” Given Ripple’s robust financial standing, with over $1.3 billion in cash reserves, Claver suggests that a direct listing might be a viable option. “Ripple could opt for a direct listing because it already has a strong balance sheet,” he states. “A direct listing provides transparency and avoids lockup periods that restrict insider sales in a traditional IPO.” Beyond the financial mechanics, Claver underscores that going public serves as a legitimizing force for Ripple. He draws a parallel to Amazon’s IPO, stating, “Amazon’s IPO legitimized e-commerce. For Ripple, a public listing would legitimize its role in global finance, signaling to banks and regulators that it’s here to stay.” The recent favorable legal rulings in Ripple’s case against the SEC have significantly bolstered its position, making the prospect of a public listing more feasible. Claver concludes, “Ripple is at a critical juncture, much like Amazon before its 1997 IPO. If Ripple follows a similar path, we could witness the rise of a new tech giant. Whether through an IPO or direct listing, this move could unlock significant growth for Ripple and the blockchain industry.” At press time, XRP traded at $0.5478. Featured image from Shutterstock, chart from TradingView.com
Some executives at crypto and blockchain firms have suggested prioritizing US congressional races over the presidential election.
Institutional demand is driving a significant increase in onchain loans across DeFi protocols.
The idea of the XRP price reaching $1,000 has once again gained traction as a social media platform X user called Drewski called for the Ripple community to unite in driving XRP to the unprecedented price level. While Drewski’s post reignited the conversation, the $1,000 price target is far from new, as it has been a goal shared by many XRP investors for years. Bold $1,000 Price Target For XRP Drewski’s comment on XRP echoes the entire cryptocurrency investor community. Particularly, it can be inferred that the investor is confident that the combined strength of the Ripple community can trigger a historic price surge for XRP. Related Reading: BTC Held On Exchanges Hits Lowest Point In 5 Five Years, Here’s What It Means For Bitcoin Price Interestingly, the bullish price target for XRP is primarily driven by sentiment rather than technical analysis. However, XRP is no stranger to very bullish price targets when viewed through the lens of technical analysis. For instance, renowned crypto analyst EGRAG CRYPTO has provided analysis indicating that XRP could be on a trajectory towards $27. In another technical analysis, the analyst highlighted the possibility of XRP surging further to $99. How Feasible Is The $1,000 Price Target? While the prediction is exciting, there are skeptics who question whether XRP can realistically reach $1,000. Critics highlight the enormous market capitalization required to reach this level. For XRP to hit the $1,000 mark, it would either need to achieve a market cap of $99.99 trillion based on its current total supply or burn most of its supply. Many critics are also quick to point out the regulatory uncertainties surrounding XRP and Ripple. If you ask many crypto participants, many will call XRP dead, considering the crypto has performed poorly than many expected in recent years. Currently, XRP is trading at a fraction of the $1,000 target. At the time of writing, XRP is trading at $0.5515. The cryptocurrency has been down by 0.7% in the past 24 hours but remains up by 2.5% in a seven-day timeframe. Related Reading: Bitcoin Price To $95,000? Here’s What Needs To Happen First To reach the price target, XRP would need to go on a 1,800x price surge from the current level, which would make many of its holders multi-millionaires. Therefore, the prospect of such a move has kept the dream of a $1,000 price target alive for many XRP enthusiasts. A more realistic dream would see XRP break above the $1 mark before reaching the double-digit threshold at $10. For XRP to go on a steady rally, it would need to continue growing in adoption in the traditional financial system. Furthermore, a final resolution to the ongoing Ripple-SEC lawsuit is needed, as achieving regulatory clarity could bring the dream of a $1,000 XRP closer to reality than ever before. Featured image created with Dall.E, chart from Tradingview.com
Ripple’s chief legal officer, Stuart Alderoty, emphasized that the SEC’s Form C doesn’t appeal the ruling that XRP is not a security.
XRP price is holding gains above the $0.5450 zone. The price seems to be eyeing more gains above the $0.5550 and $0.5650 levels in the near term. XRP price is consolidating above the $0.5400 zone. The price is now trading above $0.5420 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $0.5465 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.550 and $0.5550 resistance levels. XRP Price Eyes Upside Break XRP price remained stable above the $0.5320 support zone like Bitcoin and Ethereum. The bulls even tried to push the price above the $0.5550 resistance zone. A high was formed at $0.5659 before there was a fresh decline. The price tested the $0.5400 zone. A low was formed at $0.5398 and the price is now consolidating losses. It is trading near the 23.6% Fib retracement level of the downward move from the $0.5659 swing high to the $0.5398 low. The price is now trading above $0.540 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5465 level. There is also a connecting bearish trend line forming with resistance at $0.5465 on the hourly chart of the XRP/USD pair. The first major resistance is near the $0.5550 level or the 61.8% Fib retracement level of the downward move from the $0.5659 swing high to the $0.5398 low. The next key resistance could be $0.5650. A clear move above the $0.5650 resistance might send the price toward the $0.5800 resistance. Any more gains might send the price toward the $0.5880 resistance or even $0.5925 in the near term. The next major hurdle might be $0.6000. Another Drop? If XRP fails to clear the $0.550 resistance zone, it could start another decline. Initial support on the downside is near the $0.540 level. The next major support is near the $0.5345 level. If there is a downside break and a close below the $0.5345 level, the price might continue to decline toward the $0.5280 support in the near term. The next major support sits near the $0.5220 zone. 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 below the 50 level. Major Support Levels – $0.5400 and $0.5345. Major Resistance Levels – $0.5500 and $0.5550.
Crypto analysts Amonyx and Egrag Crypto have provided a bullish outlook for the XRP price with “something big” on the horizon. Based on their analysis, the long-awaited price breakout for XRP could soon happen. Something Big Is Coming For XRP Price Crypto analyst Amonyx stated in an X post that something big is coming for the XRP price. His accompanying chart showed that the crypto could enjoy a massive rally to $75. The analyst made this prediction based on XRP replicating a similar run that it enjoyed in the 2017 bull run when its price surged by over 61,000%. Related Reading: Bitcoin Price To $130,000 By January, Here’s The Roadmap The chart showed that XRP consolidated for a year before it broke out and enjoyed that unprecedented rally. In line with this, the analyst highlighted how XRP has been consolidating since then, suggesting another price breakout is imminent. Amonyx has recently been more bullish on the XRP price. Before now, he predicted that the crypto would reach between $50 and $57 at the peak of this bull run. However, his recent prediction offers a more bullish outlook for XRP. Interestingly, he also recently predicted that the crypto could enjoy a “giga pump” to $400. These bullish XRP predictions are believed to be partly because of the recent applications by Bitwise and Canary Capital to offer an XRP ETF. These funds could contribute to a significant rally for XRP since they will attract more institutional investors into the coin’s ecosystem. Therefore, these XRP ETFs will positively impact the XRP price just like the Spot Bitcoin ETFs did for the Bitcoin price. Meanwhile, in the short term, Amonyx also expects that the XRP price could enjoy a significant rally. In a recent X post, he shared an XRP/Bitcoin chart and told XRP holders that a God candle was coming soon. XRP’s Breakout Target To Keep An Eye On Crypto analyst Egrag Crypto highlighted $0.61 and $0.62 as the breakout targets to keep an eye on. He noted that the breakout point is getting lower and added that the XRP has a maximum of 70 days left before it reaches the final pinnacle of the breakout point. Related Reading: Crypto Analyst Says Bitcoin Price Can Port To $86,600 If It Breaks This Level Egrag Crypto further remarked that he is convinced that the price breakout could happen sooner than expected, within the next 15 to 30 days. According to him, the pressure is building and won’t stay contained for much longer. Indeed, XRP’s consolidation dates way back to the 2021 bull run when it failed to reach a new all-time high (ATH). The $0.60 price level has also proven to be strong resistance for the coin, as it has retested and failed to break above it multiple times since Judge Analisa Torres delivered her final judgment in the Ripple SEC lawsuit in August. At the time of writing, the XRP price is trading at around $0.55, up over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
In 2023 alone, the Securities and Exchange Commission filed over 20 lawsuits against firms and individuals in the crypto industry.
The ongoing legal battle between crypto payments company, Ripple ,and the United States Securities and Exchange Commission (SEC) is taking another significant step forward this week. Both parties are preparing to take the next move forward with their appeal process. This development could have far-reaching implications on not just Ripple, but the XRP price and […]
Bitcoin bulls are keen to hit $70,000, but a selloff at this level could trigger a sharp downside in BTC and altcoins.
The reason behind the stagnant XRP price growth has remained a mystery, with many crypto analysts pointing to legal disputes and market volatility as key factors holding back its momentum. However, even during favorable market conditions and after gaining legal clarity following multiple Ripple Court wins against the United States Securities and Exchange Commission (SEC), XRP has still failed to experience a notable upward surge. As a result, investors have questioned the cryptocurrency’s sluggish price growth, prompting a crypto analyst to provide a detailed explanation of why XRP remains at a low price, barely showing signs of a feasible rally. Why XRP Price Struggles To Gain Momentum On October 13, a crypto analyst and researcher known as ‘Crypto Tank’ took to X (formerly Twitter) to discuss the reasons why the XRP price is not moving. In the lengthy X post, the analyst explained that the XRP price was determined by dividing the volume of XRP actively being used on the ledger by its circulating supply. Related Reading: Over $182 Million Wiped Out As Bitcoin Price Breaks $64,000 And Sends Bears To The Gallows According to Crypto Tank, XRP investors have this misconception that the total XRP in circulation is about 56 billion. However, this figure is misleading as a large portion of XRP’s supply is held in various private wallets by large-scale holders, also called “Whales.” This means that most of XRP’s supply is not actively being used in the market, but is held firmly in these wallets. The analyst revealed that what truly matters for XRP’s price movements is how much of the circulating supply is used to actively engage in transactions on the XRP ledger. Currently, only about 20% of the total XRP supply is actively engaged on the XRP Ledger daily. For XRP to be used to execute transactions, it often needs to be paired with Automated Market Makers (AMMs), which provide liquidity during trades. These liquidity pools are important for XRP to conduct global settlements, as only ample liquidity can facilitate these enormous transactions which extend to trillions of dollars. This need for substantial liquidity in the XRP Ledger is what limits its price movements. Following the analyst’s report, it is clear that XRP’s price struggles are more complicated than mere market volatility. Its ongoing legal dispute with the SEC also adds uncertainty to any potential price increases in the future. Analyst Unveils XRP Road Map To $500 While discussing the reasons why XRP’s price has remained stagnant, Crypto Tank also unveiled a road map for how XRP could reach $500. The analyst explains that if XRP could become widely adopted for global settlements like SWIFT, it could potentially reach this price target. Related Reading: Shiba Inu Price Flashes Historical Bull Flag, Here’s What Happened Last Time He disclosed that an increase in market capitalization or retail investors does not matter, as XRP would only surge to the projected $500 price if it can handle large institutional transactions through deep liquidity pools and AMMs. Featured image created with Dall.E, chart from Tradingview.com
XRP price is moving higher above the $0.5350 support. The price tested the $0.5550 resistance and seems to be struggling to continue higher. XRP price is attempting a fresh increase above the $0.540 zone. The price is now trading above $0.5420 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $0.5400 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could trim most gains if it fails to stay above the $0.540 support zone. XRP Price Revisits Resistance XRP price remained stable above the $0.5320 support. A base was formed and the price started a fresh increase above $0.5400 like Bitcoin and Ethereum. The price climbed above the $0.5450 and $0.550 resistance levels. However, the bears are active near the key range resistance at $0.5550. A high is formed at $0.5550 and the price is now correcting gains. There was a move below the $0.550 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.5252 swing low to the $0.5550 high. The price is now trading above $0.540 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $0.5400 on the hourly chart of the XRP/USD pair. On the upside, the price might face resistance near the $0.5540 level. The first major resistance is near the $0.5550 level. The next key resistance could be $0.5650. A clear move above the $0.5650 resistance might send the price toward the $0.5800 resistance. Any more gains might send the price toward the $0.5880 resistance or even $0.600 in the near term. The next major hurdle might be $0.6120, where the bears might emerge. Another Decline? If XRP fails to clear the $0.5550 resistance zone, it could start another decline. Initial support on the downside is near the $0.5440 level and the trend line. The next major support is near the $0.5400 level or the 50% Fib retracement level of the upward move from the $0.5252 swing low to the $0.5550 high. If there is a downside break and a close below the $0.5400 level, the price might continue to decline toward the $0.5320 support in the near term. The next major support sits near the $0.5220 zone. 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 above the 50 level. Major Support Levels – $0.5440 and $0.5400. Major Resistance Levels – $0.5540 and $0.5550.
US Vice President Kamala Harris has pledged to support crypto regulation and digital assets in her new economic proposal, as various new media outlets reported on Monday. The bid comes after pro-crypto Republican candidate Donald Trump took the lead in the polls against the democratic nominee. Related Reading: Bitcoin Open Interest Decline Mirrors 2021 Drop, […]
Crypto analyst Amonyx has made an ultra-bullish price prediction for the XRP price. Based on his analysis, the crypto could soon enjoy a massive pump that will lead to a price gain of almost 80,000%. XRP Price To Enjoy “Giga Pump” To $400 Amonyx stated in an X post that an XRP giga pump is incoming. Based on his accompanying chart, the XRP price could enjoy a massive rally to reach as high as $400. Such a price rally will represent a price gain of almost 80,000% for the crypto. The analyst made this prediction using the Elliot Wave theory. Related Reading: Expert Dissects $60 Forecast For XRP Price, Institutional Investors Are The Key The projected rise to $400 represents a wave 5 impulsive move, with the analyst’s chart showing that this move to the upside was already in play. However, the accompanying chart failed to show when precisely this parabolic move would occur, although it looks like a price target for the peak of this market cycle. Interestingly, about a month ago, Amonyx predicted that the XRP price could rise to between $50 and $57 this cycle, which looked to be his peak target for this bull run. As such, his recent prediction suggests that the analyst has become more bullish on XRP’s trajectory. His ultra-bullish outlook for XRP could be related to the recent filings by Bitwise and Canary Capital to offer XRP ETFs. Approval of these funds could attract more institutional investors into the XRP ecosystem, driving more inflows into the crypto and leading to a potential price rally. Amonyx also seems confident that the SEC and Ripple will settle their ongoing legal battle. Therefore, the lawsuit will no longer act as an obstacle to XRP’s potential growth. A settlement could also signal the potential approval of the pending applications for an XRP ETF since that will confirm that the Commission no longer believes that the crypto is a security. XRP To Break All-Time High Amid the ultra-bullish prediction, crypto analyst Jaydee has given a more conservative price target. The analyst predicted that the XRP price would rise to $6.5, marking a new all-time high (ATH) for the crypto. Crypto analyst Egrag Crypto recently stated that XRP would at least rise to $5.89 in the worst-case scenario for the crypto in this bull run. Related Reading: SUI Eyes Bullish Breakout As Crypto Traders Go Long Above $2 – What’s Next? Therefore, the consensus among XRP analysts is that the XRP price will at least reach a new ATH in this bull run. Crypto analyst CrediBULL Crypto predicted that the crypto could reach $10 in this market cycle based on his belief that ETH will hit $10,000. The XRP price has remained stagnant as it consolidates between the $0.5 and $0.6 range. However, crypto analyst Dark Defender told market participants there will be an “extraordinary” breakout starting this month. Featured image created with Dall.E, chart from Tradingview.com
Popular crypto analyst Ali Martinez shared data suggesting an interesting accumulation trend among XRP investors despite ongoing price uncertainty. According to Martinez, who referenced data from on-chain analytics platform Santiment, XRP whales have made substantial purchases totaling around 40 million XRP within the last 48 hours. Related Reading: Baby Doge Coin Rockets 200% In 30 Days – What’s On The Horizon? This significant accumulation trend coincides with a rise in large transactions to and from cryptocurrency exchanges, as highlighted by whale transaction tracker Whale Alerts during the same period. Whales Buy Millions Of XRP In a recent post on social media platform X, Martinez shared a Santiment data chart that illustrates the total holdings of XRP addresses containing between 1 million and 10 million XRP tokens. He highlighted that these specific cohorts of traders have collectively acquired approximately 40 million XRP over the past 48 hours, amounting to an investment of around $22 million. While this figure might appear modest in comparison to the more substantial movements typically seen from XRP whales, it marks a significant development as it represents the first notable inflow into these wallets since the beginning of the month. The chart shared by Martinez reveals a concerning trend. The total holdings of these whale wallets have been in a steep decline since the start of October. On October 1, the cumulative holdings for this group were recorded at approximately 3.93 billion XRP. However, in a matter of days, these wallets experienced a substantial loss of around 130 million XRP, driving their total holdings down to a three-month low of 3.8 billion XRP by October 8. However, recent accumulation by the whale addresses has seen their collective holdings increase to 3.85 billion in the past 24 hours. According to data from Whale Alerts, there have been multiple instances of large XRP transactions entering and leaving crypto exchanges in the past 24 hours. The largest transaction occurred with the transfer of 104 million XRP tokens worth $55 million from an unknown wallet into a new unknown wallet. Another notable transaction was the transfer of 52 million XRP tokens worth $27.8 million from an unknown wallet into crypto exchange Bybit. A while later, 30 million XRP tokens were transferred from Bybit into another private wallet. Is XRP Headed To $0.5 Or $0.6? Current price action shows XRP consolidating between an upper range of $0.54 and a lower range of $0.52 within the past seven days. This lack of clear direction suggests low volatility and a lack of interest among crypto traders, as evidenced by a trading volume decline of approximately 30% in the last 24 hours. Related Reading: Whales Hoard $90 Million In Bitcoin: A Sign Of What’s To Come? However, the recent increase in whale holdings could signal a renewed interest among large investors in XRP, hinting at a potential shift in market sentiment as the new week begins. Historically, increases in whale accumulation have often been accompanied by a steady rise in the XRP price. If this trend continues, it could replicate the accumulation seen in September, which propelled XRP to a peak of $0.668. Featured image from Pexels, chart from TradingView
Ben Armstrong, widely recognized as BitBoy across social media platforms, has once again attracted attention from members of the crypto community with his firm endorsement of XRP. In a recent post on X, the influential crypto commentator emphasized the significance of investing in XRP at its current price level. BitBoy underscored his belief that potential […]
As the US presidential election approaches, the crypto industry has emerged as a focal point of political debate, with key figures from blockchain payments company Ripple expressing divided support for leading candidates Vice President Kamala Harris and former President Donald Trump. This division comes amid ongoing debates about regulatory frameworks, particularly concerning the US Securities and Exchange Commission (SEC) and its enforcement actions against the cryptocurrency sector. Ripple Larsen’s $1 Million XRP Donation Christian Larsen, co-founder of Ripple, has made headlines by making the first documented crypto donation to Kamala Harris’s campaign, contributing $1 million in XRP to a prominent super political action committee (PAC) supporting her candidacy. Related Reading: Over 52 Million ETH Bought At $2,300, Will Ethereum Bulls Defend This Support? This donation was revealed through recent filings with the Federal Election Commission (FEC), as reported by FOX journalist Eleanor Terret. Larsen’s contribution signifies a strategic endorsement of Harris, who has recently been vocal about the needed support for the growth of the digital asset ecosystem. This political move comes on the heels of comments from Ripple CEO Brad Garlinghouse, who has criticized the SEC’s ongoing legal battle against the company. The SEC recently appealed a favorable ruling from Judge Analisa Torres, which stated that XRP, when sold on public exchanges, does not qualify as a security under existing laws. In response, Ripple announced it would file a cross-appeal against the SEC on Thursday, intensifying the ongoing legal conflict. Crypto Community Divided? Garlinghouse has been outspoken about the SEC’s actions, recently asserting, “If Gensler and the SEC cared about the rule of law, they would accept their loss and move on.” Ripple’s CEO argues that the regulator is more interested in causing disruption than providing clarity for industry players, warning that the agency’s actions could stifle US innovation in technology. While Larsen has aligned himself with Harris, the political contributions from the crypto community are not one-sided. Gary Cardone, a well-known digital asset investor, along with the Winklevoss twins, founders of the Gemini exchange, and Kraken co-founder Jesse Powell, have publicly supported Donald Trump. Related Reading: BNB Under Siege: Failed Recovery Sparks Fears of Deeper Losses Trump’s campaign has positioned him as a pro-crypto candidate, promising to elevate the United States as the global leader in cryptocurrency. The former President and Republican candidate has criticized regulatory overreach, stating, “They want to choke you, and we are not going to let that happen.” Trump has also pledged to replace SEC Chairman Gary Gensler upon his potential return to the White House, further indicating his commitment to fostering a favorable environment for the crypto industry. At the time of writing, XRP was trading at $0.5379, showing no change from Thursday’s trading session. Featured image from DALL-E, chart from TradingView.com
Bitcoin and altcoins made a strong comeback on Oct. 11, indicating solid buying at lower levels.
Ripple has announced a major upgrade to its Ripple Custody service, aiming to deliver bank-grade crypto custody solutions to fintech firms and crypto businesses. The enhancements include integration with compliance tools, expanded hardware security module (HSM) options, support for tokenizing real-world assets on the XRP Ledger (XRPL), pre-configured policy frameworks, and an improved user interface, […]
The crypto ETF market is expanding at an alarming rate, with news of a second XRP Exchange Traded Fund (ETF) filing spreading across the space. Canary Capital, a boutique Sydney investment and corporate advisory firm has just filed an XRP ETF, following Bitwise’s lead. With the new ETF filing, the price of XRP could see a possible change in the future. Canary Capital Files New XRP ETF On Tuesday, October 8, Canary Capital submitted an official S-1 filing for an XRP ETF with the United States Securities and Exchange Commission (SEC). This filing comes just after Bitwise, another top asset management company filed for an ETF on September 30, marking the first ever XRP–based ETF in the crypto market. Related Reading: Dogecoin Vs. Bitcoin: Gauging The Performances Of Two Crypto Giants This Cycle According to Canary Capital’s new filing, the Trust’s investment goal is to provide direct exposure to the value of XRP, enabling investors to access this cryptocurrency’s market through a brokerage account. Through this method, Canary Capital intends to limit the potential barriers to accessing the market and reduce the risks involved in acquiring and holding XRP. Canary Capital has also stated that it aims to track the performance of XRP in the market, as measured by the Trust’s Pricing Benchmark. This pricing benchmark will utilize a similar methodology to the real-time price of the Chicago Mercantile Exchange (CME) CF Ripple index. While divulging the objectives and risk factors associated with an XRP ETF, Canary Capital failed to disclose the identity of the custodian for its potential XRP ETF. The investment management company also did not provide details on the ticker to be used for its XRP ETF, however, revealed that the Trustee for the investment product would be the Delaware Trust company. Despite the optimism Canary Capital’s new XRP ETF filing has generated in the crypto community, both its application and Bitwise’s still require approval from the SEC before they can launch in the market. Presently, the likelihood of a swift approval appears low, considering Ripple’s ongoing legal battle with the regulator. Earlier this month, the US SEC submitted a new appeal to challenge the court’s July 2023 ruling that programmatic sales of XRP are not considered securities. XRP Price Falls As Regulatory Uncertainty Clouds Optimism Despite Canary Capital’s new XRP ETF filing, the price of XRP has been on a downward trend, showing no signs of moving out of bearish momentum trends. CoinMarketCap’s data shows that XRP has fallen by 0.72% in the last 24 hours and another 0.79% over the past week. Related Reading: Bitcoin Price Fails At MA-200, Is A Crash To $52,000 Coming? The cryptocurrency has been in the red for the past few weeks, only seeing slight gains when market conditions turn significantly favorable. With the new XRP ETF, many would expect the XRP price to rally, as anticipation for the investment product builds in the crypto space. However, XRP is still consolidating around the $0.5 mark, even experiencing a decrease in its 24-hour trading volume. It is clear that XRP’s bullish momentum has been completely overshadowed by regulatory uncertainty and negative sentiment. Despite this, many in the XRP community continue to maintain a positive outlook, expecting the price of XRP to break out to the upside soon. Featured image created with Dall.E, chart from Tradingview.com
Ripple has disclosed plans to take its legal battle with the SEC to a higher court in the United States.
The SEC announced it was filing an appeal last week.
Many XRP holders expect the altcoin to break $1 soon. XRP has traded around $0.50 for a while despite lingering pressure in the crypto market. Some analysts recently predicted that XRP’s long-awaited bull run will commence as Bitcoin’s dominance declines. Related Reading: $6 Million ETH Sale: Ethereum Foundation Joins Whale Liquidation Frenzy XRP Price Forecast: Positive Signs Ahead? The current price projections for XRP from CoinCheckup suggest a bullish trajectory. Analysts anticipate a 14% increase in the altcoin over the next three months, despite the fact that it is currently trading 18.77% below the estimate for the following month. This modest ascent can be a precursor of a sustainable rally, which will present traders with steady increases. XRP is seen climbing 150% in the next half-year period and 125% by 2025. The positive forecasts for this coin, therefore, suggest that this is the beginning of a strong price growth phase, courtesy of increased consumer confidence and broader adoption. Very crucial for #XRP to close this weekly candle above 55 cents or else we’ll test the support at 40 cents. The #Bitcoin dominance is almost near the top and once it starts dumping we’ll see all #Altcoins pull a 2-5x easy. Just accumulate coming year is very bullish! #Crypto pic.twitter.com/Dk0ARRnjE9 — THE GOAT TRADERS (@TheGoatTraders) October 6, 2024 Key Resistance Levels To Watch Even with these positive outlooks, XRP still has to break over a few significant resistance levels before a real bull run can start. The “GOAT” trader pointed out that in order for XRP to keep moving higher and hit $1, it needs to close above $0.55 on the weekly chart. If it fails, the altcoin might fall as low as $0.40, testing crucial support levels before attempting another rally. Another technical analyst, “Charting Guy,” has joined in, suggesting that XRP’s price movement will be greatly influenced by Bitcoin’s performance. According to him, XRP will trade between $0.43 and $0.67 until Bitcoin overcomes its $70K resistance. for people asking me when will $XRP moon or is it over, etc etc. i will repeat for the millionth time$XRP and other lagging altcoins will do NOTHING significant until $BTC breaks into price discovery it’ll range between 0.43 – 0.67 until then monthly bollinger bands continue… pic.twitter.com/GwSrwJEDI0 — Charting Guy (@ChartingGuy) October 6, 2024 Bitcoin’s Impact On XRP’s Future Bitcoin has been in a quite limited trading range and has not yet broken beyond $70,000. Although the top coin peaked in March at $73K, it struggled to maintain the level and finally encountered continuous obstacles that is preventing it from reaching a new price discovery phase. So long as Bitcoin is below this crucial level, Altcoins that are underperforming, such as XRP could continue to trade sideways. According to Charting Guy, breaking resistance would be the critical support for the upward trajectory of XRP. Related Reading: Analyst Foresees 90% Cardano Price Drop in Next 6 Months Bollinger Band Tightening: What It Means For The Altcoin Meanwhile, XRP’s Bollinger Bands have tightened on the monthly chart. This tightening typically indicates that a significant price shift is approaching. Charting Guy speculated that if XRP closes over $0.67, it might spark a big rise. On the other hand, a monthly close below $0.43 could result in a significant drop. Investors should keep a close eye on these important levels to see where XRP may go next. Featured image from Pexels, chart from TradingView
XRP price is still trading in a range below the $0.550 level. The price is slowly moving lower and there could be more downsides below $0.520. XRP price is still stuck in a range above the $0.5080 support. The price is now trading below $0.5300 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $0.5285 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.5300 and $0.5320 resistance levels. XRP Price Dips Further XRP price failed to start a fresh increase above the $0.5350 resistance. It started another decline and traded below the $0.5250 support level. However, losses were limited compared to Bitcoin and Ethereum. A low was formed at $0.5210 and the price is now consolidating losses. There was a minor increase within a range and the price climbed above the $0.5250 resistance. The price cleared the 23.6% Fib retracement level of the downward wave from the $0.5354 swing high to the $0.5210 low. The price is now trading below $0.5320 and the 100-hourly Simple Moving Average. If there is another increase, the price might face resistance near the $0.5300 level. There is also a connecting bearish trend line forming with resistance at $0.5285 on the hourly chart of the XRP/USD pair. It is close to the 50% Fib retracement level of the downward wave from the $0.5354 swing high to the $0.5210 low. The first major resistance is near the $0.5350 level. The next key resistance could be $0.5450. A clear move above the $0.5450 resistance might send the price toward the $0.5500 resistance. Any more gains might send the price toward the $0.5650 resistance or even $0.580 in the near term. The next major hurdle might be $0.600. More Losses? If XRP fails to clear the $0.5350 resistance zone, it could start another decline. Initial support on the downside is near the $0.5220 level. The next major support is near the $0.520 level. If there is a downside break and a close below the $0.520 level, the price might continue to decline toward the $0.5150 support in the near term. The next major support sits near the $0.5080 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.5220 and $0.5200. Major Resistance Levels – $0.5350 and $0.5450.