Ripple has highlighted the 2024 US election as a crucial juncture for the crypto industry, according to a May 29 statement. In response, the company has donated $25 million to Fairshake, a federal super PAC that backs pro-crypto and pro-innovation candidates. This contribution raises Ripple’s total donation to the committee to $50 million. Notably, Fairshake […]
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Ripple has added another $25 million to the coffers of Fairshake, a federal crypto super political action committee (PAC) that’s spending big this election year to support crypto-friendly Congressional candidates.
In a post on social media, Bill Morgan, a leading pro-XRP attorney, reiterated allegations of biased regulatory practices by the Securities and Exchange Commission (SEC), accusing them of showing undue favoritism towards Ethereum at the expense of XRP. This assertion aligns with a broader accusation involving former SEC official William Hinman, which is now culminating […]
XRP price is moving lower below $0.5350 support zone. It is now testing key support at $0.5220 and remains at risk of more downsides. XRP is struggling to gain bullish momentum above the $0.5350 resistance zone. The price is now trading below $0.530 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $0.5265 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase unless the bears push the price below $0.5220. XRP Price Revisits Support In the past two sessions, XRP price saw a bearish move below the $0.5320 zone like Bitcoin and Ethereum. The price declined below the $0.5250 support zone before the bulls emerged. A low was formed at $0.5212 and the price is now consolidating losses. It made a recovery attempt above the 23.6% Fib retracement level of the downward move from the $0.5405 swing high to the $0.5212 low. However, the bears are active near the $0.5300 zone. There is also a connecting bearish trend line forming with resistance near $0.5265 on the hourly chart of the XRP/USD pair. The price is now trading below $0.530 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5265 level. The first key resistance is near $0.5320 or the 61.8% Fib retracement level of the downward move from the $0.5405 swing high to the $0.5212 low. A close above the $0.5320 resistance zone could send the price higher. The next key resistance is near $0.540. If there is a close above the $0.540 resistance level, there could be a steady increase toward the $0.5450 resistance. Any more gains might send the price toward the $0.5650 resistance. More Downsides? If XRP fails to clear the $0.5320 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5220 level. 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 gain bearish momentum. In the stated case, the price could decline and retest the $0.50 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining 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 $0.5120. Major Resistance Levels – $0.530 and $0.5320.
In an exchange on X, Ripple‘s Chief Technology Officer (CTO), David Schwartz, also known as JoelKatz, responded to queries about the strikingly similar price movements of XRP and Stellar (XLM). This discussion has brought to light not just the intertwined market dynamics of these two major cryptocurrencies but also the complex factors influencing their valuation. Curious Correlation Between XRP And XLM Schwartz candidly addressed a post by Good Morning Crypto, who highlighted a long-term price chart comparison between XRP and XLM since 2014, questioning the “unnatural price symmetry” and the potential for both to “breakout together during this bull run.” Schwartz replied, “I genuinely don’t know. The thing that I think is most likely is that both prices are driven primarily by factors completely outside their ecosystems.” Related Reading: Ready For Liftoff: XRP Price Primed To Skyrocket Before November However, Schwartz also acknowledged conflicting evidence to his theory. When pressed for specifics regarding the unusual correlation, he pointed to the significant event of Stellar burning half of their token supply, which surprisingly did not impact their price or disrupt the price correlation pattern with XRP. “The one bit that’s the most convincing to me is that Stellar burned half their supply and there wasn’t so much as a blip on their price chart or any real deviation from XRP’s price correlation,” Schwartz explained. This dialogue underscores a broader narrative within the cryptocurrency sector, where XRP and XLM share not only a founder in Jed McCaleb but also similar technological frameworks aimed at streamlining cross-border payments. Despite these overlaps, the absence of a price impact post-Stellar’s token burn has been a particularly puzzling aspect for analysts and the crypto community alike. Both XRP and XLM have historically mirrored each other’s price movements, potentially due to overlapping use cases, investor behaviors, and market perceptions. As financial tools facilitating quick, cross-border transactions with minimal fees, both have attracted similar investor bases looking for alternatives to traditional banking hurdles. Related Reading: XRP Price Consolidates, Gearing Up for Its Next Major Breakout Market sentiment plays a significant role. News impacting one of the cryptos can quickly spill over to the other due to their perceived substitutability. Additionally, regulatory shifts in one can inadvertently sway investor sentiment towards the other. Popular pro-XRP lawyer Bill Morgan commented on this, “I don’t know what causes it but it shows how useless Ripple burning the escrow would be. Stellar burned XLM and Ripple did not burn XRP and it had no impact on the symmetry. Same for the lawsuit. No impact overall. Stellar was not sued. Factors external to either blockchain and not specific to either Ripple or Stellar must be the explanation.” The ongoing debate includes speculation about whether XRP and XLM will jointly make significant gains in an anticipated bull run. Historical price patterns suggest a high level of correlation, but as Schwartz indicates, external factors such as global market conditions and macroeconomic factors are likely at play. At press time, XRP price stood at $0.5282. Featured image created with DALL·E, chart from TradingView.com
XRP price again struggled to continue higher above the $0.5450 resistance. It is now moving lower and might test the $0.512 support zone. XRP is showing a few bearish signs from the $0.5420 zone. The price is now trading below $0.5350 and the 100-hourly Simple Moving Average. There was a break below a key contracting triangle with support at $0.5360 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bearish momentum if it stays below the $0.5420 resistance zone. XRP Price Faces Rejection After a close above the $0.5320 level, XRP price extended its increase like Bitcoin and Ethereum. However, the bears were active near the $0.5420 resistance zone. A high was formed at $0.5422 and the price started a downside correction. There was a move below the $0.5320 support zone and the 23.6% Fib retracement level of the upward move from the $0.5028 swing low to the $0.5422 high. Besides, there was a break below a key contracting triangle with support at $0.5360 on the hourly chart of the XRP/USD pair. The pair is now trading below $0.5350 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5320 level. The first key resistance is near $0.5420. A close above the $0.5420 resistance zone could send the price higher. The next key resistance is near $0.5450. If the bulls push the price above the $0.5450 resistance level, there could be a steady increase toward the $0.5550 resistance. Any more gains might send the price toward the $0.5740 resistance. More Losses? If XRP fails to clear the $0.5420 resistance zone, it could start another decline within the range. Initial support on the downside is near the $0.5225 level and the 50% Fib retracement level of the upward move from the $0.5028 swing low to the $0.5422 high. 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 gain bearish momentum. In the stated case, the price could decline and retest the $0.5025 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.5225 and $0.5120. Major Resistance Levels – $0.5320 and $0.5420.
XRP price extended its decline below the $0.520 support. The price is now trading in a range and eyeing an upside break above the $0.5320 resistance. XRP extended losses and declined below the $0.5120 support. The price is now trading above $0.5250 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.5325 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.5365 resistance zone. XRP Price Holds Ground In the past two sessions, XRP price saw a steady decline below the $0.5320 level. There were a few swing moves like Bitcoin and Ethereum. The price even spiked below the $0.5120 support zone. A low was formed at $0.5028 and the price is now correcting losses. There was a move above the $0.5200 and $0.5250 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $0.5477 swing high to the $0.5028 low. The price is back above $0.5250 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5320 level. There is also a key bearish trend line forming with resistance at $0.5325 on the hourly chart of the XRP/USD pair. The first key resistance is near $0.5365 or the 76.4% Fib retracement level of the downward move from the $0.5477 swing high to the $0.5028 low. A close above the $0.5365 resistance zone could send the price higher. The next key resistance is near $0.5480. If the bulls push the price above the $0.5480 resistance level, there could be a steady increase toward the $0.5570 resistance. Any more gains might send the price toward the $0.5800 resistance. Another Decline? If XRP fails to clear the $0.5320 resistance zone, it could start another decline within the range. Initial support on the downside is near the $0.5250 level and the 100 hourly SMA. The next major support is at $0.5140. If there is a downside break and a close below the $0.5140 level, the price might gain bearish momentum. In the stated case, the price could decline and retest the $0.5030 support in the near term. 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 – $0.5250 and $0.5140. Major Resistance Levels – $0.5320 and $0.5365.
XRP price started a fresh decline after it failed near $0.5570. The price is now correcting gains and might decline heavily if it breaks the 100-hourly SMA. XRP struggled near the $0.5570 zone and trimmed gains. The price is now trading below $0.5350 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $0.5320 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must stay above the 100-hourly SMA to avoid a sharp decline. XRP Price Dips Again After a steady increase, XRP price faced resistance near $0.5570. The price formed a short-term top and started a fresh decline from $0.5571, like Bitcoin and Ethereum. There was a move below the $0.5420 level. The price dipped below the 50% Fib retracement level of the upward move from the $0.5065 swing low to the $0.5571 high. The price even spiked below the $0.5250 support and the 100-hourly Simple Moving Average. However, the bulls are protecting the 61.8% Fib retracement level of the upward move from the $0.5065 swing low to the $0.5571 high. It is now trading above $0.5250 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5310 level. There is also a connecting bearish trend line forming with resistance at $0.5320 on the hourly chart of the XRP/USD pair. The first key resistance is near $0.5350. A close above the $0.5350 resistance zone could send the price higher. The next key resistance is near $0.5450. If the bulls push the price above the $0.5450 resistance level, there could be a steady increase toward the $0.5570 resistance. Any more gains might send the price toward the $0.5650 resistance. More Downsides? If XRP fails to clear the $0.5350 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5250 level and the 100 hourly SMA. The next major support is at $0.5185. If there is a downside break and a close below the $0.5185 level, the price might gain bearish momentum. In the stated case, the price could decline and test the $0.5065 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.5250 and $0.5185. Major Resistance Levels – $0.5350 and $0.5450.
A crypto analyst has predicted the next price target for the XRP price, noting that the altcoin was nearing a key point that could potentially trigger a major bull rally for the cryptocurrency. XRP Price Roadmap to $20 In an X (formerly Twitter) post on May 20, Crypto analyst, Javon Marks forecasted a strong bullish breakout for the XRP price in this market cycle. Marks explained that XRP was steadily approaching a critical converging point, with an emerging Relative Strength Index (RSI) pattern indicating strong underlying momentum for the cryptocurrency. Related Reading: Institutional Investors Pour $942 Million Into Bitcoin, Will This Trigger A Rally To $80,000? An RSI is a technical tool used to measure the speed and change of price movements in a cryptocurrency. It is also used to determine the short-term momentum of a cryptocurrency’s market. Sharing a price chart depicting the XRP price movements from 2018 to 2025, the analyst predicts that XRP’s closing converging point and RSI pattern are signaling a massive breakout to new all-time highs. He has projected a “conservative” target that could see XRP’s price soaring between $15 and $20 in the coming weeks. Additionally, XRP’s present price actions are displaying a bullish pattern reminiscent of the one observed during its mega rally to a new all-time high of $3.84 in January 2018. Marks noted that for XRP to reach the ambitious $20 price target, the cryptocurrency would have to witness a massive surge of 2,000% to 3,000%, translating to 20X to 36X from its current price. Concluding his analysis, the crypto analyst disclosed that all the factors and indicators were pointing towards a potential rise in XRP’s price. However, the exact timing of when this will occur is uncertain. More Bullish Projections For XRP XRP has been drawing significant attention from market analysts, who are projecting increasingly bullish price movements for the cryptocurrency. Despite its struggles to reach the coveted $1, the XRP price has still exhibited some strength as it continues to maintain a price position around the $0.5 mark. Related Reading: Crypto Market Liquidations Top $330 Million In 24 Hours With Ethereum In The Lead Prominent XRP supporter and crypto analyst identified as ‘JackTheRippler,’ on X predicts that XRP is poised for an explosive rally after years of accumulation. Sharing a price chart illustrating XRP’s price action from 2017 to 2024, the crypto analyst revealed indicators that suggested a potential rise to new highs. Another XRP community member and crypto analyst identified as ‘XRP Captain,’ has also confirmed a potential breakout for the cryptocurrency. He disclosed that XRP’s next target will likely be $0.7 before June 2024. At the time of writing, XRP’s price is trading at $0.53, marking a decline of 1.06% in the last 24 hours, according to CoinMarketCap. Over the past seven days, the cryptocurrency has performed relatively well, recording a series of minor rallies that contributed to a 6.67% gain. A bullish breakout for XRP will require sustained momentum and increased trading activities from investors. Currently, the cryptocurrency’s daily trading volume has not demonstrated significant growth, indicating only a slight increase of 3.25% in the last 24 hours. Featured image created with Dall.E, chart from Tradingview.com
Could the US Federal Reserve’s potential pivot on inflation be the catalyst for a multi-trillion dollar surge in the cryptocurrency market? That’s the bullish prediction from some of Wall Street’s top analysts as they eye a seismic shift in monetary policy. Related Reading: Investors Pile Into Bitcoin: Over $1 Billion Inflows Fuel ETF Rally, Price […]
XRP price extended its increase above the $0.5450 resistance. The price is now correcting gains and might remain strong above the 100-hourly SMA. XRP extended its increase above the $0.5450 resistance zone. The price is now trading above $0.5250 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $0.5330 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is correcting gains, but there could be a fresh increase unless there is a close below the 100-hourly SMA. XRP Price Holds Ground After a close above the $0.520 level, XRP price remained in a positive zone, like Bitcoin and Ethereum. It cleared the $0.5320 and $0.5450 resistance levels. There was also a spike above the $0.550 level. A new weekly high was formed at $0.5571, and the price is now correcting gains. There was a move below the $0.5450 level. The price dipped below the 23.6% Fib retracement level of the upward wave from the $0.5065 swing low to the $0.5571 high. It is now trading above $0.530 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $0.5330 on the hourly chart of the XRP/USD pair. Immediate resistance is near the $0.5380 level. The first key resistance is near $0.5450. A close above the $0.5450 resistance zone could send the price higher. The next key resistance is near $0.5570. If the bulls push the price above the $0.5570 resistance level, there could be a steady increase toward the $0.5650 resistance. Any more gains might send the price toward the $0.5720 resistance. More Losses? If XRP fails to clear the $0.5450 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5330 level and the trend line. It is close to the 50% Fib retracement level of the upward wave from the $0.5065 swing low to the $0.5571 high. The next major support is at $0.5250. The main support is now near $0.5185. If there is a downside break and a close below the $0.5185 level, the price might accelerate lower. In the stated case, the price could drop and test the $0.5065 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 below the 50 level. Major Support Levels – $0.5330 and $0.5185. Major Resistance Levels – $0.5450 and $0.5570.
The US Securities and Exchange Commission (SEC) has objected to Ripple’s attempt to redact evidence in their remedies briefing, according to a court filing on May 20. While the SEC acknowledges Ripple’s right to seal certain exhibits, it argues that Ripple’s move to conceal financial and securities sales information is unlawful. The SEC contends that […]
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The value of Ripple’s XRP token has fluctuated dramatically in recent months. Talks about the coin are thriving and have reached their highest point since early April, despite an 8% price decline over the last 60 days. This raises the question of whether the recent internet talk will help XRP see a price spike or if it is just meaningless chatter that will eventually fade. Related Reading: Solana Blasts Past Resistance: Buckle Up For $330 Breakout – Analyst Social Media Frenzy The social media landscape surrounding XRP is abuzz. Santiment data reveals a surge in XRP’s social dominance, meaning conversations about XRP are outpacing chatter on other cryptocurrencies. This digital watercooler effect has historically correlated with price increases. In December 2023 and March 2024, similar spikes in social media buzz preceded XRP’s jumps to $0.66 and $0.71 respectively. Enthusiasts are hoping this trend holds true, potentially pushing the price back to the $0.70 mark. However, some analysts are throwing cold water on this social media frenzy. While the chatter is undeniable, the sentiment behind it seems less than enthusiastic. Santiment’s Weighted Sentiment metric paints a picture of a lukewarm market, with a reading of minus 0.78 indicating a slightly negative overall view. This negativity could dampen any potential price rise fueled by social media hype. Technical Outlook: Golden Cross Or Grim Reaper’s Embrace? Technical analysis, the art of deciphering price charts for clues, paints a mixed picture for XRP. On the bullish side, a recent “golden cross” has emerged, where the 20-day exponential moving average (EMA) crosses above the 50-day EMA. This is traditionally seen as a bullish signal, suggesting a potential price increase. If XRP can conquer the resistance level at $0.56, a surge towards the coveted $0.70 price point might be in the cards. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator is currently negative, suggesting a lack of clear dominance by the bulls. This technical tug-of-war could see XRP retreat to the $0.50 support level before any potential rebound. Related Reading: Solana Leaves Competition In The Dust: Blazing Speed To Fuel Price Surge? The Verdict: Buckle Up For A Bumpy Ride The future of XRP seems to be hanging in the balance. Social media buzz suggests a potential price surge, but negative sentiment and murky technical indicators cast shadows of doubt. Investors should buckle up for a potentially bumpy ride. While a price increase to $0.70 is not out of the realm of possibility, a drop to $0.50 or even lower cannot be entirely discounted. Featured image from Unsplash, chart from TradingView
The legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) has intensified with the SEC’s latest court filing, marking the final submission before Judge Analisa Torres of the Southern District of New York deliberates on the remedies phase of this landmark case. Ripple Vs. SEC: The Final Move In its filing […]
The price of XRP, the native token of Ripple, seems to be teetering on the edge of a short-term decline, according to an analysis of on-chain data by NewsBTC. While bulls might want to hold their horses, the report paints a picture of a market potentially succumbing to selling pressure in the immediate future. Related Reading: Solana Blasts Past Resistance: Buckle Up For $330 Breakout – Analyst Whales Shedding Weight: A Bearish Signal? The report raises a red flag with the movement of XRP in large wallets. Investors holding between 100,000 and 1 million XRP have been noticeably reducing their holdings. This suggests a potential increase in sell pressure, as these “whales” unload their tokens onto the market. The combined holdings of this group now represent a smaller percentage of the total circulating supply, which could lead to a temporary glut of XRP and a corresponding price drop. The behavior of these large XRP holders could indicate a shift in market sentiment, prompting concerns about the future stability of XRP prices. As these whales liquidate their positions, the market could face increased volatility, with prices reacting sharply to the influx of sell orders. Additionally, the reduction in whale holdings might signal a lack of confidence in XRP’s short-term prospects, potentially discouraging smaller investors from maintaining or increasing their positions. The price of XRP managed to shift from $0.48 to $0.52 in a few days last week. The token has been wiping out some of those gains, though. The token’s price may drop below $0.50 because to the decrease in balances. The effect was already in action because the token’s value was $0.51 at the time of publication. OI And Active Addresses: Not Shining A Bullish Light Further dampening the enthusiasm for XRP is the Open Interest (OI) metric. OI refers to the total value of all open positions in XRP futures contracts. A decrease in OI, as observed recently, signifies a decline in market activity and potentially more sellers closing their positions. This trend aligns with the dwindling number of active addresses on the XRP network. Active addresses represent the unique number of wallets involved in XRP transfers within a specific timeframe. A recent drop in active addresses suggests a decrease in overall market participation, which can often precede a price slump. Related Reading: ADA Price Surge Could Push Ratio Of Holders In Loss Below 55% Volatility: A Double-Edged Sword A silver lining some might see is the recent spike in XRP’s one-day volatility. Volatility can be a double-edged sword, however. While it can indicate heightened market activity and potentially lead to price surges, the current situation seems to be leaning towards the opposite. The rise in volatility, coupled with the selling pressure and declining participation, might simply reinforce a downtrend rather than spark a price increase. Featured image from CoinCodex, chart from TradingView
Cryptocurrency payment company Ripple has released XRP’s market report for the first quarter of 2024. The report sheds light on XRP’s soaring trading volume. It also highlights updates on the on-chain performance and recent technical developments of the XRPL ecosystem. Related Reading: NFT Market Crashes: 95% Of Assets Become Worthless XRP Spot Volume Surges According […]
A crypto analyst identified as ‘Egrag Crypto’ has recently taken to X (formerly Twitter) to issue a warning to XRP investors regarding a potential bear market that could trigger a massive correction for the price of XRP. XRP Holders Prepare For More Declines In 2025 According to Egrag Crypto, XRP is expected to enter a steep bear market stage in 2025. The analyst based his predictions on a technical analysis tool he called the “Gaussian Channel,” revealing three distinct technical phases for XRP, including a Green A, Green B and Green C phase. Related Reading: Ethereum Bull Flag Breakout: ATH On The Horizon As Major Metrics Turn Bullish He noted that the bearish phase in Green A had already been completed. However, the Green B phase is expected to end by June 2025, and Green C is anticipated to conclude by January 2025. The analyst further emphasized that the aforementioned dates do not represent cycle tops but indicate the beginning of a “deep bear market phase.” He also revealed that the Gaussian Channel was a technical analysis tool used to visualize price movements of cryptocurrencies around a mean average price. The purpose of the tool is to help identify volatility, risks, and certain support and resistance levels. Additionally, analyzing the historical trends and durations of the green phases provided by the Gaussian Channel provides valuable insights that can be used to interpret future price movements. Presently, the price of XRP has remained relatively unchanged for the past few months, primarily consolidating around the $0.5 mark without witnessing any significant momentum. This lackluster performance can be attributed to the ongoing legal challenges the cryptocurrency has faced with the United States Securities and Exchange Commission (SEC) over the past four years. While Egrag crypto anticipates more bearish sentiment for XRP in the coming year, the crypto analyst also suggests that the next 3 to 12 months could present critical trading opportunities as the market evolves. He cautions XRP holders to remain vigilant and prepared for potential market volatility, which could lead to a “life-changing window.” Analyst Highlights XRP’s Resilience In a previous X post, Egrag Crypto maintained an optimistic outlook for the price of XRP. He emphasized the cryptocurrency’s strength and resilience, noting that XRP was indicating strong bullish signals in its price fundamentals. Related Reading: Bitcoin Analyst Reveals Why $57,938 Is The Level To Watch This Week He revealed that if XRP can maintain a critical position within the “Launching Channel,” a trading pattern identified by partial wicking candles and ascending consolidation, the cryptocurrency could see its value potentially surging to $6.4. Related Reading: Bitcoin Long-Term Holders Buy The Blood, Snatch Up 70,000 BTC At the time of writing, the price of XRP is trading at $0.51, reflecting an increase of 3.51%, over the past 24 hours, according to CoinMarketCap. Egrag Crypto has advised the broader XRP community to remain “calm and steady,” as the next three to six months could present significant opportunities for investors. Chart from Tradingview.com
The price of XRP, the native token of Ripple, has been a topic of much debate lately. While some analysts predict a significant price jump this weekend, others remain cautious due to the coin’s recent struggles and the ongoing legal battle between Ripple and the SEC. Related Reading: Pepe Power! Meme Coin Surges On Back Of GameStop Nostalgia Stalled At The Starting Line: XRP’s Recent Performance XRP has been stuck in low gear, failing to break past the $0.54 resistance level for weeks. This sluggishness extends to the broader timeframes, with the coin experiencing a decline in the past month, week, and even the last 24 hours. At the time of writing, XRP was trading at $0.5185, down 3.8% in the last 24 hours, but managed a measly 0.4% uptick in the last week, data from Coingecko shows. Weekend Surge On The Horizon? Coincodex, a prominent crypto prediction platform, stands out from the crowd with a bullish forecast. They predict a substantial price increase for XRP, with the coin potentially reaching $0.648 by Tuesday, May 21st. This would represent a jump of over 32% from its current price. However, even Coincodex acknowledges the potential for a different scenario. The report mentions the possibility of consolidation around $0.4952 or even a price drop if profit-taking intensifies. Legal Clouds Dampen Enthusiasm Many experts believe the ongoing lawsuit between Ripple and the SEC is a significant factor behind XRP’s underperformance. The SEC alleges that XRP is a security, while Ripple argues it’s a currency. This legal battle has cast a shadow over the cryptocurrency, leading to investor hesitation. There is a glimmer of hope, however. The article reports that the lawsuit is nearing its conclusion, with a final judgment expected from Judge Analisa Torres this year. A definitive resolution, especially if it favors Ripple, could pave the way for a significant price increase in the future. Some analysts, as the report mentions, even predict XRP could surge to $47 during the next bull run. Weighing The Bullish And Bearish Signs The future of XRP remains uncertain. Coincodex’s prediction offers a ray of optimism for a near-term price jump. However, the recent price slump, ongoing legal battle, and cautious investor sentiment paint a more complex picture. Related Reading: Floki Inu Moment Of Glory: Analysts Forecast Explosive 200% Rally Looking Ahead: A Post-Lawsuit Future For XRP? The resolution of the SEC lawsuit could be a turning point for XRP. If Ripple prevails, it could remove a major obstacle to wider adoption and institutional investment. This, combined with a potential bull run in the broader cryptocurrency market, could propel XRP to new heights. However, even a favorable outcome wouldn’t guarantee smooth sailing. The cryptocurrency market remains volatile, and XRP faces competition from other established players. Featured image from Pexels, chart from TradingView
XRP price is attempting a fresh increase above the $0.5050 resistance. The price could gain bullish momentum if it clears the $0.520 resistance. XRP is eyeing a steady move above the $0.520 level. The price is now trading above $0.5120 and the 100-hourly Simple Moving Average. There was a break above a short-term declining channel with resistance at $0.5025 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if there is a close above the $0.520 resistance. XRP Price Eyes Breakout Yesterday, we saw how XRP price started a recovery wave, like Bitcoin and Ethereum. The price was able to settle above the $0.4950 and $0.50 resistance levels. There was a break above a short-term declining channel with resistance at $0.5025 on the hourly chart of the XRP/USD pair. The pair even cleared the $0.5150 resistance level and settled above the 100-hourly Simple Moving Average. It traded as high as $0.5195 and is currently consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.4980 swing low to the $0.5195 high. The price is also trading above $0.5120 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5185 level. The first key resistance is near $0.5200. A close above the $0.5200 resistance zone could send the price higher. The next key resistance is near $0.5220. If the bulls remain in action above the $0.5220 resistance level, there could be a rally toward the $0.5350 resistance. Any more gains might send the price toward the $0.550 resistance. Another Decline? If XRP fails to clear the $0.520 resistance zone, it could start another decline. Initial support on the downside is near the $0.5145 level. 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 even drop below the $0.5050 support zone or the 61.8% Fib retracement level of the upward move from the $0.4980 swing low to the $0.5195 high. 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 – $0.5120 and $0.5050. Major Resistance Levels – $0.5200 and $0.5220.
Crypto analysts continue to be super bullish on the future of the XRP price despite its poor performance in the past. However, while some analysts have predicted price targets that, to many, seem unrealistic, others have set more conservative targets. This is the case of crypto analyst Alan Santana, who just unveiled his 6-month prediction for the XRP price. XRP Price Is Ready For A Bullish Wave Alan Santana took to the TradingView website to share his latest analysis on the XRP price. This prediction is expected to play out over the next six months as the crypto market heads into what is expected to be an explosive bull rally. Related Reading: This Crypto Expert Called The Bitcoin Top in 2021, Now He’s Calling The Bottom In 2024 The crypto analyst believes that in this cycle, the altcoin may find its price moving well ahead of other altcoins. “it is likely to be one of the first to move… One of the first to move big!” the analyst said. Santana also gives reasons for this, one of them being that the waiting period between each bullish wave for the XRP price has elapsed. His analysis showed that the altcoin has usually seen a 6-8-month gap between each bullish wave. However, it had been 308 days since it saw its last bullish wave, which is well over 10 months. This means that the altcoin is more than ready for another bullish wave. He also added, “The fact that XRPUSDT went through a correction and has been consolidating for this long is considered bullish.” Furthermore, the altcoin has been on a bullish trend, recording higher lows. This is usually bullish for any asset as it suggests better support for the price as it moves upward. “Higher lows means that the bulls have the upper hand when it comes to the long-term trajectory of this chart,” Santana explained. XRP Can Move 280% In 2024-2025 The crypto analyst expects a rather rapid bullish wave for the XRP price and stated that he expects this to happen sometime in 2024 and 2025. The main reason behind this is that the accumulation phase for the altcoin is finally coming to an end. This is a sentiment that has also been shared by another crypto analyst known as U-Copy. According to the analyst, the XRP price had been in accumulation for the last seven years, but it has finally come to an end in 2024, and this end in the accumulation phase will lead to a rally. Related Reading: Brace For Impact: Mt. Gox Set To Inject 142,000 BTC And 143,000 Bitcoin Cash Into The Market- Here’s When While U-Copy expects the altcoin to hit a new all-time high price as this accumulation phase comes to an end, which would be an at least 600% move from here, Santana has taken a more conservative stance. The analyst does expect the XRP price to break above $1, but puts the peak around $1.9 and $2. This would mean a 280-300% move from here. “Once it starts going, it will go really strong and for a very long while… People will be wondering, ‘why didn’t I buy when prices were low?’,” the analyst concluded. Featured image from CoinMarketCap, chart from Tradingview.com
Ripple is transitioning into a full-service digital asset custody provider, following its acquisition of Metaco, a Swiss-based leader in the sector, for $250 million in May 2023. This development represents a significant expansion of the fintech’s capabilities into the institutional crypto custody market—a segment that is expected to experience substantial growth over the next decade. […]
XRP, the cryptocurrency associated with Ripple, has been locked in a lengthy period of consolidation, trading between $0.300 and $0.600 for the past seven years. Despite a brief surge during the 2021 bull run that saw XRP reach a three-year high of $1.9 in April, the token has since returned to its range, lacking the bullish momentum to overcome upper resistance levels. However, some crypto analysts are now predicting a major uptrend for XRP in the coming months, potentially propelling it to new heights. Analysts Anticipate XRP Breakout A technical analyst using the pseudonym “U-COPY” on the social media site X (formerly Twitter) suggests that XRP could experience significant movement between May 15 and August. U-COPY points out that XRP has been slowly moving up from its previous low at $0.46 and is nearing the end of a long triangle formation, which has been in accumulation since 2018. The analyst believes that XRP’s real potential will be revealed in the fully formed bull cycle, with the token possibly experiencing substantial growth by the end of the year. Related Reading: Brace For Impact: Mt. Gox Set To Inject 142,000 BTC And 143,000 Bitcoin Cash Into The Market- Here’s When Supporting this bullish outlook, another analyst, Armando Pantoja, proposes that the crypto bull run could begin in September or October 2025, with XRP potentially reaching a price of $0.75. Pantoja further suggests that if former US President Trump wins the election and the Securities and Exchange Commission (SEC) eases its stance on cryptocurrencies, XRP could be propelled to higher levels. This change in regulatory dynamics, combined with the ongoing legal battle between Ripple and the SEC, may increase the likelihood of XRP gaining approval for an exchange-traded fund (ETF) similar to Bitcoin. Pantoja outlines a price range of $1-2 for an XRP ETF announcement in early 2025. If interest rates are cut multiple times during the same period, XRP could potentially reach $5-10. Ultimately, Pantoja predicts the possibility of XRP hitting $10-$20 by the fourth quarter of 2025 or the first quarter of 2026. ‘Buy the Dip’ Opportunity? According to market intelligence platform Santiment, The XRP Ledger (XRPL) has recently witnessed a notable increase in the movement of dormant tokens, signaling a potential shift in market dynamics for the token. Coinciding with the opening of May, the company’s Token Age Consumed metric reveals a spike in the transfer of old coins, reminiscent of a similar occurrence in April, just before a significant downturn in the market. During that period, XRP experienced a sharp decline in value, dropping by 16%. However, in contrast to the previous event, Santiment suggests that there is a “compelling argument” that this current surge in old coin movement might be attributed to the interest of key stakeholders looking to “buy the dip.” Related Reading: This Crypto Expert Called The Bitcoin Top in 2021, Now He’s Calling The Bottom In 2024 Furthermore, it is worth noting the growing open interest in exchanges, which has recently reached a three-week high. This uptick in open interest indicates increased active positions in XRP, potentially reflecting growing market participation and heightened trading activity. Considering these factors together—the surge in dormant token activity, the potential buy-the-dip interest from key stakeholders, and the rising open interest on exchanges—there appears to be a shift in sentiment surrounding XRP. At press time, the seventh-largest cryptocurrency trades at $0.5020, down over 7% in the past week alone and 1% in the past 24 hours. Featured image from Shutterstock, chart from TradingView.com
In a court filing on May 13, 2024, Ripple Labs has formally requested the United States District Court for the Southern District of New York to seal various documents that were submitted in connection with the SEC’s Motion for Judgment and Remedies. These documents, collectively referred to as the “Remedies Materials,” contain sensitive financial data, […]
XRP price is attempting a recovery wave from the $0.4865 support. The price could gain bullish momentum if it clears the $0.5120 resistance. XRP remained stable and started a recovery wave above $0.500. The price is now trading above $0.5050 and the 100-hourly Simple Moving Average. There was a break above a major bearish trend line with resistance at $0.5025 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a decent increase if there is a close above the $0.5120 resistance. XRP Price Reclaims $0.50 After a steady decline, XRP price found support near the $0.4865 zone. A low was formed at $0.4864 and the price is now attempting a recovery wave, like Bitcoin and Ethereum. There was a move above the $0.4950 and $0.50 resistance levels. Besides, there was a break above a major bearish trend line with resistance at $0.5025 on the hourly chart of the XRP/USD pair. The pair even spiked above $0.5100. A high was formed at $0.5120 and the price is now consolidating gains. There was a test of the 23.6% Fib retracement level of the upward move from the $0.4867 swing low to the $0.5120 high. The price is now trading above $0.5050 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5085 level. The first key resistance is near $0.5120. A close above the $0.5120 resistance zone could spark a strong increase. The next key resistance is near $0.5220. If the bulls remain in action above the $0.5220 resistance level, there could be a rally toward the $0.5350 resistance. Any more gains might send the price toward the $0.550 resistance. Another Decline? If XRP fails to clear the $0.5120 resistance zone, it could start another decline. Initial support on the downside is near the $0.5050 level and the 100-hourly Simple Moving Average. The next major support is at $0.50 or the 50% Fib retracement level of the upward move from the $0.4867 swing low to the $0.5120 high. If there is a downside break and a close below the $0.50 level, the price might accelerate lower. In the stated case, the price could retest the $0.4865 support zone. 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 – $0.500 and $0.4865. Major Resistance Levels – $0.5120 and $0.5220.
A crypto analyst has predicted a substantial bullish surge for the the XRP price in the future. According to the analyst, XRP is gearing up for a substantial increase to $33.5 from an initial price of $0.50. He expects the price of the cryptocurrency to explode by 6600% in this current market cycle. Analyst Forecasts Exponential Rise In XRP Price In a recent X (formerly Twitter) post, a crypto analyst identified as ‘Egrag Crypto,’ revealed a series of bullish price targets for XRP in the near future. The analyst focused his predictions on a technical analysis called “the Line of Hestia.” Related Reading: US Mega Banks JP Morgan And Wells Fargo Unveil Bitcoin Exposure As BTC Drops To $60,000 Egrag Crypto’s latest findings suggest that XRP could rise to $33.5 if it touches the Line of Hestia, a technical indicator featuring an ascending trend line which signals a potential upsurge for the price of a cryptocurrency. According to the analyst, “Historical data indicates that every time the XRP price touches the “Line of Hestia,” it experiences significant price pumps.” This implies that there may be a correlation between XRP’s bullish price movements and the ascending trend line. Egrag Crypto also revealed that following this historical pattern, XRP has witnessed pumps ranging from 6600%,1444%, 100%, 80%, and 171%. Given the established trend, Egrag Crypto predicts XRP’s ascent to new all-time highs. He calculated the average percentage increase of XRP’s price each time it touched the Line of Hestia, dividing the sum by the total number of occurrences, which is five. Using this data, the crypto analyst estimates that if XRP were to experience a 6600% increase, its future price would be $33.50. Similarly, he calculated new prices for XRP based on the previous percentages. It’s important to note that the price of XRP, at the time of writing, is trading at $0.5. The cryptocurrency has been recording considerable declines over the past year, consolidating around the $0.5 price mark for months. According to CoinMarketCap, XRP has also recorded a 7.35% decrease over the past seven days and a 0.08% decline in the last 24 hours. Although Egrag Crypto has remained optimistic about XRP’s future price, other crypto community members have expressed skepticism over the analyst’s ambitious forecast. A few community members have denied the prediction, emphasizing that the cryptocurrency’s surge to $33.5 during this cycle was highly unlikely. Possible Price Correction Ahead Of Projected Surge In one of his most recent X posts, Egrag Crypto disclosed that XRP could witness a major price correction before experiencing a significant rally. The analyst has urged crypto investors to remain cautious of the cryptocurrency unless the XRP/BTC ratio closes above the $0.00010 threshold. Related Reading: Is The Bitcoin Bottom In? Buy The Dip Sentiment Erodes Amid Drop Toward $60,000 Egrag Crypto anticipates a potential 45% decline for XRP/BTC, emphasizing that this substantial price drop could indicate a bottom between $0.0000055 and $0.0000077. However, he also disclosed that overcoming resistance at $0.00001 would be crucial for a rebound in XRP. Token price at $0.5 | Source: XRPUSDT on Tradingview.com Featured image from Watcher Guru, chart from Tradingview.com
Expectations for the XRP price have fluctuated greatly in the last year, mostly due to the uncertainty that continues to cloud the Ripple legal battle with the United States Securities and Exchange Commission (SEC). However, bullishness has prevailed despite the altcoin’s disappointing performance in 2024, with one analyst pretending an end to what has been […]
Paolo Ardoino, CEO of Tether, has responded to Ripple CEO Brad Garlinghouse‘s claims that the US government was targeting the company, the issuer of the largest stablecoin USDt. During the weekend, reports emerged that Garlinghouse had suggested that a US government’s scrutiny of Tether could significantly affect the crypto industry. Garlinghouse said: “The US Government […]
The post Tether CEO Paolo Ardoino defends USDt compliance record in wake of Ripple CEO’s comments appeared first on CryptoSlate.
XRP price started a fresh decline from the $0.5050 resistance zone. The price could decline further if there is a close below the $0.4865 support. XRP extended losses and traded below the $0.500 support. The price is now trading below $0.4950 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.4980 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could slide further toward the $0.4550 support in the near term. XRP Price Dives Below $0.50 Recently, XRP price attempted a recovery wave above the $0.5050 level. However, the bears were active and the price started a fresh decline below the $0.500 support, like Ethereum and Bitcoin. There was a move below the $0.4920 and $0.4880 levels. A low was formed at $0.4867 and the price is now consolidating losses. It is trading near the 23.6% Fib retracement level of the downward move from the $0.5085 swing high to the $0.4867 low. The price is now trading below $0.4950 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.4980 level. There is also a key bearish trend line forming with resistance at $0.4980 on the hourly chart of the XRP/USD pair. It is close to the 50% Fib retracement level of the downward move from the $0.5085 swing high to the $0.4867 low. Source: XRPUSD on TradingView.com The first key resistance is near $0.500. A close above the $0.500 resistance zone could spark a strong increase. The next key resistance is near $0.5085 and the 100-hourly Simple Moving Average. If the bulls remain in action above the $0.5085 resistance level, there could be a rally toward the $0.5250 resistance. Any more gains might send the price toward the $0.550 resistance. More Losses? If XRP fails to clear the $0.50 resistance zone, it could start another decline. Initial support on the downside is near the $0.4865 level. The next major support is at $0.4780. If there is a downside break and a close below the $0.4780 level, the price might accelerate lower. In the stated case, the price could retest the $0.450 support zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.4865 and $0.4780. Major Resistance Levels – $0.500 and $0.5085.
Brad Garlinghouse said he views Tether as an important part of the ecosystem and that its fate will be an "interesting one to watch."
The once-booming cryptocurrency Ripple (XRP) finds itself in a precarious position. The past month has been marked by a significant drop in XRP’s value, leaving investors and analysts in a state of flux. While some fear a continued decline, others see potential for a comeback, with technical indicators hinting at a possible reversal of fortune. However, the road ahead for XRP remains shrouded in uncertainty, with the ongoing legal battle with the SEC and broader market sentiment playing a crucial role. Related Reading: XRP All Talk, No Action? Social Media Booms, But Price Stuck In The Bear Pit A Downturn And Dampened Enthusiasm The last few weeks have been a rough ride for XRP holders. The cryptocurrency, which once held the distinction of being the only one with apparent regulatory approval in the United States, has shed over 5% in the last week alone. The price dipped as low as $0.49 before recovering slightly to its current position around $0.50. This downtrend has coincided with a noticeable dampening of enthusiasm within the crypto community. Discussions about XRP have dwindled, and the usual “bullish” fervor seems to have gone quiet. Technical Signals And Expert Opinions Despite the gloomy outlook, there are some glimmers of hope for XRP. Analysts point to technical indicators on TradingView that suggest a potential uptrend in the making. The chart shows a series of “higher lows and higher highs,” a pattern typically associated with bullish momentum. Additionally, the $0.50 mark seems to be acting as a support level. Each time the price dips close to this point, it rebounds slightly, indicating that some investors see it as an attractive entry point. This bullish sentiment is echoed by some experts. Dark Defender, a prominent crypto analyst, remains optimistic about XRP’s prospects for 2024, predicting a surge to $1.80 before year’s end. A recent poll conducted by Egrag Crypto among nearly 4,000 crypto community members also revealed mixed feelings. While a significant majority (61%) expressed optimism about XRP’s ability to participate in an upcoming bull run, a sizable minority (40%) remained apprehensive. Total crypto market cap currently at $2.2 trillion. Chart: TradingView Clouds Over XRP: The Looming Legal Battle XRP’s path forward is far from certain. The ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) continues to cast a long shadow. The lawsuit, which centers around whether XRP is a security, has created uncertainty in the market, hindering investor confidence. This regulatory ambiguity makes it difficult for institutional investors to enter the XRP market, further dampening its potential for significant growth. XRP price down in the weekly timeframe. Source: Coingecko Related Reading: Unlocking The Dogecoin Code: One Factor Holds The Key To Its Next Ascent Market Sentiment And Ripple Effect The broader bearish sentiment currently gripping the crypto market also adds pressure to XRP’s price. Bitcoin, the bellwether of the cryptocurrency market, has seen a significant correction in recent months, dragging many altcoins, including XRP, down with it. This creates a domino effect, where negative sentiment in one cryptocurrency bleeds over to others, further exacerbating the decline. Featured image from Getty Images, chart from TradingView