XRP price remained in a positive zone above the $2.40 zone. The price is consolidating and might aim for a fresh increase above the $2.60 level. XRP price started a downside correction from the $2.65 resistance zone. The price is now trading above $2.40 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2.45 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if it clears the $2.550 resistance. XRP Price Holds Key Support XRP price started another increase above the $2.40 resistance zone like Bitcoin and Ethereum. There was a move above the $2.50 and $2.55 levels. However, the bears were active near $2.65. A high was formed at $2.64 and the price started a downside correction. There was a move below the $2.55 and $5.20 levels. The price dipped below the 23.6% Fib retracement level of the upward move from the $2.165 swing low to the $2.645 high. The price is now trading above $2.40 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2.45 on the hourly chart of the XRP/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $2.165 swing low to the $2.645 high. On the upside, the price might face resistance near the $2.50 level. The first major resistance is near the $2.550 level. The next resistance is at $2.650. A clear move above the $2.650 resistance might send the price toward the $2.750 resistance. Any more gains might send the price toward the $2.850 resistance or even $2.920 in the near term. The next major hurdle for the bulls might be $3.00. More Losses? If XRP fails to clear the $2.550 resistance zone, it could start another decline. Initial support on the downside is near the $2.450 level. The next major support is near the $2.40 level. If there is a downside break and a close below the $2.40 level, the price might continue to decline toward the $2.280 support. The next major support sits near the $2.150 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 – $2.4000 and $2.3500. Major Resistance Levels – $2.5000 and $2.6500.
The XRP price is consolidating after a crazy 460% surge within four weeks that saw it breaking above $2.8 on December 3 for the first time since 2018. This consolidation saw the XRP price dropping to $2.22 on December 5 as many investors took some profits after the rally. Related Reading: Market Expert: Not Long On XRP? You’re ‘Disrespecting’ Yourself Interestingly, on-chain data shows that XRP whales have taken advantage of this dip to stock up their holdings to essentially prevent further price declines. With this in mind, technical analysis of the coin’s price chart shows that the cryptocurrency is well on track to breaking above the $5 price level in the next three days. Technical Analysis Suggests Breakout To $5.26 By December 11 Amidst the backdrop of whale activity and price consolidation, technical analysis is now pointing to the possibility of the XRP price surpassing the $5 mark within the next three days. This rally hinges on XRP breaking through key retracement levels like it did in November. Interestingly, a crypto analyst (CryptoInsightUK) outlined a compelling case for the altcoin’s next price target, citing a historical pattern in the asset’s movement. His analysis, shared on the social media platform X, highlights how XRP’s range-based corrections often find resistance at the 0.5-0.618 Fibonacci retracement levels. Once these levels are breached, the price tends to rally swiftly toward the 4.236 Fibonacci extension. During XRP’s last breakout, it took just over three days to reach the 4.236 Fibonacci extension after breaking through retracement resistance. During that time, the price surged from below $1.46 to reach $2.9 on crypto exchanges within three days and 17 hours. Based on the current price chart, XRP is once again trading between the 0.5 to 0.618 Fibonacci retracement levels drawn from the recent high of $2.9. If a similar trajectory were to play out, this should push the XRP price on another rally to reach $5.26 by December 11. Such a move would see the XRP price rapidly breaking above its current all-time high of $3.40 that has stood for almost seven days. Interestingly, analyst CryptoinsightUK suggests that the predicted move could unfold even faster this time due to increased market velocity. Whale Accumulation Supports Bullish Price Outlook The behavior of XRP whales is a key factor bolstering the bullish sentiment. Fortunately, on-chain data shows significant whale accumulation during the recent price dip, with some investors purchasing the crypto in bulk. As noted by Santiment data, XRP addresses holding 1 million to 10 million tokens have purchased over 120 million XRP worth $288 million since December 5. This accumulation serves a dual purpose. Not only does it prevent further price declines, but it also provides the liquidity necessary for the next upward movement. Related Reading: Dogecoin Days At The Top Numbered? Cardano Set To Take Over — Analyst At the time of writing, XRP is trading at $2.54. Featured image from Fortune, chart from TradingView
In the last week, the price of XRP increased by 35% as the general crypto market maintains a stellar performance stretching over the last two months. Interestingly, recent developments in the XRP market indicate a sustained bullish outlook for the prominent altcoin. Related Reading: Ripple Labs Future Under Trump: CEO Brad Garlinghouse Outlines Vision For 2025 Whales Accumulate $288 Million XRP As Price Slides To $2.22 In an X post on December 7, renowned crypto expert Ali Martinez shared that XRP whales had embarked on an accumulation spree amidst a recent price dip. Notably, XRP has been one of the best-performing cryptocurrencies in Q4 2024 rising by over 350% since the US elections. However, the altcoin recorded a significant 23% decline in the past week, falling from $2.90 to $2.22 between December 3-December 6. During this period, Martinez noted that whales i.e. wallets holding between 1 million – 10 million XRP, acquired over 120 million XRP, valued at $288 million, as they increased their market holdings to $4.7 billion. Generally, such large purchases by market whales are indicative of confidence in an asset’s long-term profitability and are common bullish signals. Rightly so, XRP has experienced an 18% price gain rising to $2.60 in the 48 hours following this bullish whale activity. In regards to how high XRP can go, Ali Martinez has set a projected target of $4.34 which may be a good price zone for traders to take profit. However, any unexpected price decline could force the altcoin to return to around $2.23 which Martinez describes as a “key area of support”. Related Reading: XRP Price Steadies Above Support: Preparing for the Next Move? XRPL Active On-Chain Addresses Surpass 100,000 In other news, the number of on-chain active addresses on the XRP Ledger (XRPL) has recently recorded a significant increase. According to CryptoQuant analyst Wenry, exchange transfers dominated the transaction volume on the XRPL up until Q3 2024. However, on-chain XRP transactions have now overtaken exchange inflows as the number of active addresses rose rapidly in recent months reaching a yearly high of 100,000 on December 2. This development can be attributed to several factors including improvement on XRPL’s DeFi infrastructure which has created a better working environment that attracts top decentralized protocols similar to Uniswap, Maker, etc. In addition, there has been significant progress in the development of layer 2 solutions for the XRPL to improve scalability, interoperability, and functionality. Notable projects on this front include The Root Network, XRPL Ethereum Virtual Machin,e and XRPL Hooks. At the time of writing, XRP trades at $2.57 after a 3.94% gain in the past day. Meanwhile, the token’s daily trading volume is down by 13.70% and valued at $12.03 billion. The altcoin now ranks as the third largest cryptocurrency with a market cap of $147.98 billion. Featured image from Bloomberg, chart from Tradingview
XRP has seen a sharp 25% pullback from its recent local high of $2.90, leaving investors questioning its next move. Despite the correction, many analysts remain optimistic about XRP’s potential to regain momentum, while others predict a deeper retrace before any significant rally. The market appears divided, with bulls eyeing a potential breakout and skeptics bracing for a quiet sell-off. Related Reading: Dogecoin Still In Consolidation – Analyst Expects $0,63 If We Get A Breakout Crypto analyst Harry weighed in on the discussion, sharing a detailed technical analysis on X. He highlighted that XRP could target a $4 price once it completes a deeper retracement. Harry’s analysis suggests that while bullish sentiment remains valid, the path forward might require additional consolidation or even a short-term dip to reset market conditions. This divergence of opinions underscores the uncertainty surrounding XRP’s price action. Will the retrace provide a launchpad for the next rally, or will it pave the way for prolonged bearish pressure? As XRP hovers near key levels, the coming days will determine whether bulls or bears gain control. For now, XRP holders and traders must watch these movements closely, as the token’s future hinges on breaking this current stalemate. Price Action Signals Storm Before The Run XRP has recently faced a significant retrace, and many analysts believe further correction or consolidation could be on the horizon before a bullish continuation occurs. After reaching high levels, the token pauses, with some experts forecasting a stabilization period. However, the bullish camp remains hopeful, anticipating new highs in the coming months as buy-side pressure builds. Top analyst Harry shared his insights on X, pointing out that XRP has yet to retest the critical $1.96 breakout level. Currently, the price is hovering between $1.96 and the 2017 all-time high of $2.77. According to Harry’s technical analysis, this positioning indicates growing bullish momentum. He further suggests that if XRP’s current flag formation breaks to the upside, the token could be poised for a powerful rally toward new highs. Related Reading: SUI About To Break ATH Again – Can Bulls Target $4.20 This Week? This analysis follows weeks of speculation surrounding XRP’s price trajectory, especially in the wake of Bitcoin’s volatile movements. BTC has fluctuated around the $100K psychological level, repeatedly breaking and losing it. These conditions have added an extra layer of uncertainty to the market, leaving traders uncertain of what to expect next. XRP Showing Indecision XRP is trading at $2.40, marking a 14% recovery from its recent local lows of $2.16. Despite this bounce, the token’s price action remains uncertain as market sentiment remains divided. Traders and investors are closely monitoring the next moves, with no definitive signs pointing to either a bullish continuation or the formation of a cycle top. The key levels to watch are $2.25 and $2.50. If XRP manages to hold above the $2.25 support and reclaim the $2.50 level in the near term, it could signal the start of a renewed bullish rally. This scenario would likely attract additional buying pressure, pushing XRP closer to retesting its recent highs. However, the market’s current indecision reflects broader uncertainty, and any failure to reclaim these levels could lead to further consolidation or a potential downside. Related Reading: Cardano Whales Keep Buying – Price Holds Above Crucial Mark As Bitcoin and the broader crypto market experience fluctuating trends, XRP’s next move will be critical in determining its trajectory. For now, the token remains in a delicate position, and traders should exercise caution while keeping an eye on these pivotal price levels. Whether XRP resumes its upward momentum or sees additional correction will largely depend on market conditions in the coming days. Featured image from Dall-E, chart from TradingView
Market participants look to be securing profits, seeing how the XRP price has corrected since its recent parabolic rally. Analyst TheXRPguy has outlined seven reasons why those yet to secure profits should hold on selling their coins, suggesting that more parabolic rallies lie ahead. More XRP Price Rallies Lie Ahead As Analyst List Reasons Not […]
XRP’s recent price surge has sparked growing interest from institutional players, with Worksport and The BC Bud Co. announcing plans to include the token in their treasury strategies. Traditionally, corporate crypto investments have centered on Bitcoin, a trend set by companies like MicroStrategy. However, XRP’s impressive 300% rally over the past month has propelled it […]
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Analysts continue to believe in the potential price surge of XRP, predicting that it is still feasible that the crypto will hit the $3 mark. Related Reading: No Sweat! Dogecoin Will Hit $5 ‘Very Easy’ In 2025 – Analyst A market observer even claimed that XRP is on track for a massive price rally in the ongoing digital asset bull market as many cryptocurrencies are hitting all-time highs due to the positive outlook on the industry. XRP Could Hit $3 Analysts are confident that XRP is still on the way to reaching $3 per coin, saying that the recent pullback in its price does not dampen the enthusiasm of market experts on crypto. They added that despite the price dip, investors continue to have a positive sentiment on its future. WallStreetBets, a pseudonymous analyst, emphasized in a post the significance of being bullish on XRP as the coin experiences the ebbs and flows before being catapulted to the $3 level. “If you’re not long XRP right now, you don’t respect yourself,” WallStreetBets wrote in an X post. If you’re not long XRP right now, you don’t respect yourself. — wallstreetbets (@wallstreetbets) December 2, 2024 Precursor To New Heights Analyst CW believed that the current pullback being experienced by XRP could be a precursor for something great for the coin, saying that it could propel the crypto to even greater heights. CW predicted that the next target for XRP could be $3.75 once the correction is concluded. If the $XRP correction is complete, the next target is $3.75. There may be a correction near the ATH. And it will renew the ATH. pic.twitter.com/Zmfk5OP3rX — CW (@CW8900) December 5, 2024 For WallStreetBets, XRP slipping at the low end of $2 could be a good sign for those who have not invested in the crypto, arguing it could be viewed as giving them a chance to join the XRP community. “XRP took a step back today, allowing anyone who missed the train to have a second chance,” WallStreetBets explained. Data shows that in the last three days, XRP decreased by nearly 16% and is currently being traded at $2.3. Despite this correction, WallStreetBets and other analysts are still optimistic about the crypto, seeing the pullback as preparing the coin for a prolonged uptrend. Related Reading: Cardano Rally Heats Up: Experts See 750% Jump Ahead Getting Through The Resistance Level Market observer Dom said that the resistance level being experienced to reach $3 would not be easily surpassed, saying that it could be a gradual progress. The analyst said that the current behavior of the crypto matches his earlier predictions of consolidation and range formation. Other crypto analysts explained that XRP’s price rally is similar to the explosive growth investors have witnessed in 2017. They forecasted that XRP would increase to $2, which would be followed by a pullback, adding that the next phase would be a continuation toward a cycle peak that could allow it to hit $10. Featured image from DALL-E, chart from TradingView
XRP price remained in a range below the $2.50 zone. The price is consolidating above $2.150 and might aim for a fresh increase above the $2.40 level. XRP price started another decline and traded below the $2.40 level. The price is now trading below $2.40 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2.38 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if it clears the $2.40 resistance. XRP Price Consolidates above Support XRP price started another decline after it failed to surpass the $2.50 resistance zone unlike Bitcoin and Ethereum. There was a move below the $2.40 and $2.30 levels. However, the bulls remained active above the last low and support at $2.15. The price is now moving higher and trading above $2.20. It is testing the 23.6% Fib retracement level of the recent drop from the $2.866 swing high to the $2.166 low. The price is now trading below $2.40 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.35 level. There is also a key bearish trend line forming with resistance at $2.38 on the hourly chart of the XRP/USD pair. The first major resistance is near the $2.40 level. The next resistance is at $2.50. It is close to the 50% Fib retracement level of the recent drop from the $2.866 swing high to the $2.166 low. A clear move above the $2.50 resistance might send the price toward the $2.650 resistance. Any more gains might send the price toward the $2.70 resistance or even $2.850 in the near term. The next major hurdle for the bulls might be $3.00. Another Decline? If XRP fails to clear the $2.380 resistance zone, it could start another decline. Initial support on the downside is near the $2.200 level. The next major support is near the $2.150 level. If there is a downside break and a close below the $2.150 level, the price might continue to decline toward the $2.050 support and the trend line. The next major support sits near the $2.00 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 – $2.2000 and $2.1500. Major Resistance Levels – $2.3800 and $2.5000.
Despite its notable gains throughout this year, the Dogecoin price has yet to break above its all-time high in 2021, but analysts continue to remain bullish. Interestingly, recent analyses from crypto analysts have compared the Dogecoin price action to that of the XRP price rally, with the general consensus being new all-time highs for both […]
John Deaton, the attorney representing over 75,000 XRP holders in the Ripple vs. SEC lawsuit, has voiced strong opinions regarding President-elect Donald Trump’s nomination of Paul Atkins as the new Chair of the US Securities and Exchange Commission (SEC). Deaton took to X to outline four critical actions he believes Atkins must undertake immediately upon […]
The XRP price is currently experiencing corrections after a dramatic six-week rally. Notably, the XRP price recently peaked at $2.82, reaching its highest level since January 2018, before retreating in the past 24 hours. This retreat has seen the XRP price decline by about 12% in the past 24 hours as the Bitcoin price broke […]
Following a massive leg-up in the price of XRP, optimism towards the altcoin’s future performance is growing significantly within the community, as evidenced by several bullish predictions from crypto analysts concerning its potential for more upside, possibly to a new all-time high in the ongoing market cycle. Similarities Between XRP’s Current Trend And Past Market […]
The XRP price has witnessed a significant correction after rallying to as high as $2.9 this week. This has raised speculations about whether the recent rally is over, but crypto analysts MadWhale has indicated that XRP still has more room to move to the upside. Analyst Explains Why XRP Price Is Headed For $3.2 In a TradingView post, MadWhale explained why the XRP price is headed for $3.2. The analyst noted XRP’s significant trading volume and the stock’s prolonged underperformance compared to other cryptos. Indeed, XRP experienced a prolonged period of stagnation while other coins experienced significant gains. Related Reading: Bitcoin Price To $100,000: Why Reclaiming The $96,400 Level Is Very Important For Another Rally MadWhale stated that this extended period of stagnation has left the stock highly compressed and ready for a potential breakout. The analyst added that fundamental and technical analysis point to a favorable outlook, with the chart indicating strong upward potential. In line with this, he anticipates that the XRP could revisit its current all-time high (ATH) and even higher targets. The XRP price has cooled off and retraced in the last 24 hours, following its parabolic rally in the last couple of weeks. Crypto analyst Dark Defender had predicted that this correction would likely happen. He stated that he expects XRP to range between $2.13 and $2.92 for a few days before it continues its upward trend. Like MadWhale, Dark Defender also offered a bullish outlook for XRP, predicting that the crypto would rally to the mid-target level of $3.9993 next. Such a rally will mark a new ATH for XRP, as its current ATH is $3.8. Meanwhile, in a recent analysis, crypto Egrag Crypto stated that a bounce from $2.19 would lead to higher highs and cause XRP to continue its bullish momentum. Egrag Crypto is confident that the XRP price will rally to double digits in this market cycle. The Road To $3.99 In his most recent X post, Dark Defender provided an update on XRP’s projected rally to $3.99. The analyst noted that the XRP price has continued to move the Fibonacci levels. He reaffirmed that this recent correction was expected. The crypto analyst added that these side moves can last a little bit more. Related Reading: Dogecoin Price Continues Trading Sideways But Bullish Pennant Says Get Ready For $1.30 The crypto analyst also provided insights into key levels to watch out for while the XRP price ranges. He highlighted $2.13 and $2.27 as support levels for XRP and $2.92 and $3.99 as the targets for the crypto. A reclaim of the $2.92 target, which is a Fib level, indicates that the crypto is ready to continue its upward trend. At the time of writing, the XRP price is trading at around $2.30, down over 12% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Worksport, a Nasdaq-listed manufacturer of covers for pickup trucks, has decided to not only buy bitcoin for its corporate treasury, but also Ripple's XRP.
Tron (TRX) joined the crypto market’s rally by jumping over 100% in 24 hours to a new all-time high (ATH). Its surge ignited a bullish sentiment among crypto investors and market watchers, fueling optimism for higher targets. Related Reading: Bitcoin (BTC) Crashes 33% In South Korea Amid Increasing Political Turmoil Tron Hits New ATH After 7 Years As Bitcoin (BTC) continues moving sideways between the $94,000-$96,00 price range, many altcoins have started recording massive rallies. Cardano (ADA) recently reclaimed the $1 mark in a 200% rally, while XRP soared above the $2.5 resistance on a 300% surge. Yesterday, TRX, the native token of the Tron Blockchain, soared 104% intraday to hit its news ATH in nearly seven years. The token moved from its daily low of $0.22 to the $0.29 mark, surpassing its previous high of $0.23. The rally continued with another jump above the $0.30 barrier before climbing to its latest ATH of $0.45 on Tuesday night. The surge saw the cryptocurrency flip some crypto rivals, sending Tron back into the top ten crypto list. According to CoinMarketCap data, TRX’s market capitalization hit over $36 billion, surpassing Toncoin (TON) and Avalanche (AVAX) by this metric. Tron founder Justin Sun highlighted the feat in an X post: 6 years later. Still here. Still #BUIDLing. Things have changed, but one thing hasn’t: #TRON remains a top 10 contender. Since then, Tron has retraced around 20%, hovering above the $0.35-$0.36 zone before falling to the $0.33 mark. Despite the retrace, TRX remained the leading cryptocurrency, with 20% gains in the last 24 hours. TRX’s Rally To Continue? As TRX’s price surged, crypto analyst Javon Mar stated that Tron was “HEAVILY on what can be soon noted as a historical bullish move.” He also suggested that the cryptocurrency’s price was “far from done,” forecasting another massive rally to the $1.1 area. Similarly, another analyst noted that TRX has “finally triggered a MEGA setup from all the way back in 2018 on its dominance chart” against all other Altcoins. And added that Tron has “barely put its running shoes on.” Related Reading: Solana (SOL) Could See A Correction Despite Historic Monthly Close, $400 Still On Sight? The analyst also signaled that a test of the previous ATH was possible as a retest of that level as support could propel the token to $0.50. However, Team LAMBO advised to watch out for the $0.33 level. The analyst stated that Tron was possibly “cooking a massive bull flag on the 15-minute timeframe,” with the bottom trendline between the $0.35-$0.36 price range. A breakout above $0.42 could target the $0.60 barrier while breaking down the pattern and losing the $0.33 support would invalidate it. As of this writing, TRX is trading at $0.33, a nearly 80% surge in the past seven days and a 116% monthly jump. Featured Image from Unsplash.com, Chart from TradingView.com
Ripple has announced a delay in the launch of its RLUSD stablecoin due to regulatory issues with the New York State Department of Financial Services (NYDFS). In a Dec. 4 statement on X (formerly Twitter), the platform stated: “Despite some speculation, $RLUSD isn’t launching today. We’re in lockstep with the NYDFS on final approval and […]
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XRP is down today, wiping out most of the gains made in December against Bitcoin, despite BTC price hitting $100,000.
Yesterday, the South Korean crypto market suffered a violent drop after an emergency martial law was declared. This caused a massive sell-off that sent the price of most cryptocurrencies to monthly lows. After the turmoil, local exchanges saw a record-breaking daily trading volume for the second consecutive day, nearly doubling the previous milestone. Related Reading: […]
Dogecoin (DOGE), a cryptocurrency that has gained popularity and surpassed $60 billion in market capitalization, is once again attracting attention. While the year got off to a shaky start for DOGE, it has since seen a significant upswing. Related Reading: Shiba Inu All Set For ‘Bull Show’, Eyes 180% Rally – Analyst DOGE has mostly consolidated at $0.40, which begs some questions about whether its moment of glory has vanished. Recent research, however, points the other way, with specialists looking at possible price levels that would inspire DOGE aficionados once more. Technical Support Points Toward Development Important technical indications have helped to propel the price trajectory of DOGE. Currently at $0.26, the 50-day moving average has been a consistent support level that has helped it to climb to $0.44. The 200-day moving average, which stays constant at $0.15, shows DOGE’s long-term consistency. $DOGE $XRP money will flow into $DOGE My first target is 1$ I think we will reach 3-5$ very easy next year pic.twitter.com/hf5w8FUOUs — ProfessorAstrones (@Astrones2) December 2, 2024 These metrics indicate a strong foundation for future growth. Analysts like Professor Astrones believe DOGE could soon end its consolidation phase and start moving toward $1. Beyond that, he projects the coin could hit $3 to $5 “very easily” in 2025. It’s an ambitious goal, but Dogecoin has surprised the market before. XRP’s Role In Dogecoin’s Future The recent success of XRP is an interesting part of the possible rise in DOGE. In the past week, the price of XRP has doubled, giving some long-term users over 400% returns. The market value of XRP has grown to more than twice that of Dogecoin thanks to this rise. Astrones, on the other hand, says that the rising trend in XRP may soon slow down. That could make buyers want to put their gains back into Dogecoin, which would make more people want to buy it. In the crypto market, gains are often spread to other assets, which means that money is often moved around. Is Dogecoin Mirroring XRP? Other market observers have noticed an interesting similarity between the recent patterns of XRP’s prices and DOGE’s chart currently. They said that DOGE is making higher lows, which is a sign of a bullish trend, meaning the upward movement is going to be sustainable. If this is the case, Dogecoin will explode like XRP and move its price way past current levels. Related Reading: Cardano Rally Heats Up: Experts See 750% Jump Ahead DOGE is already showing resilience at $0.42 with a 1.5% gain over the last 24 hours. Of course, the road to $1 and beyond is not guaranteed, but the optimism in the market is rising. With strong technical support and the possibility of XRP-driven buying, Dogecoin may be just getting ready for the next big leap. Featured image from The Guardian, chart from TradingView
XRP price started a downside correction below the $2.50 support. The price is consolidating near $2.20 and might aim for a fresh increase above the $2.45 level. XRP price started another decline and traded below the $2.40 level. The price is now trading below $2.50 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2.50 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if it clears the $2.50 resistance. XRP Price Revisits Key Support At $2.20 XRP price made another attempt to clear the $2.70 resistance. However, it failed to surpass $2.70 and corrected some gains unlike Bitcoin and like Ethereum. There was a move below the $2.50 and $2.40 levels. A low was formed at $2.166 and the price is now correcting losses. There was a move above the $2.20 and $2.25 levels. The bulls pushed it back above the 23.6% Fib retracement level of the recent decline from the $2.865 swing high to the $2.166 low. The price is now trading below $2.50 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.40 level. The first major resistance is near the $2.50 level. It is close to the 50% Fib retracement level of the recent decline from the $2.865 swing high to the $2.166 low. There is also a key bearish trend line forming with resistance at $2.50 on the hourly chart of the XRP/USD pair. The next key resistance could be $2.550. A clear move above the $2.550 resistance might send the price toward the $2.650 resistance. Any more gains might send the price toward the $2.70 resistance or even $2.850 in the near term. The next major hurdle for the bulls might be $3.00. More Downsides? If XRP fails to clear the $2.500 resistance zone, it could start another decline. Initial support on the downside is near the $2.250 level. The next major support is near the $2.20 level. If there is a downside break and a close below the $2.20 level, the price might continue to decline toward the $2.050 support and the trend line. The next major support sits near the $2.00 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 – $2.2000 and $2.0500. Major Resistance Levels – $2.4000 and $2.5000.
The XRP price action in the past few weeks has been nothing but phenomenal. Particularly, the XRP price has surged by over 460% from its $0.5 range at the beginning of December to peak at $2.82 within the last 24 hours. This notable surge has brought XRP into the spotlight, with various discussions on social […]
Crypto analyst Jacob Canfield has raised the possibility of the Dogecoin price replicating the recent XRP rally. This came as the analyst highlighted similarities between Dogecoin’s recent price action and XRP’s. Dogecoin Price To Replicate XRP Rally? In an X post, Jacob Canfield suggested that the Dogecoin price could soon replicate the recent XRP rally. […]
The XRP price has been on a roll, with a gain of around 90% in the last seven days, providing a bullish outlook for the crypto. This bullish momentum might just be getting started as XRP is nearing the legendary 4.236 Fibonacci level, suggesting that a rally to $9 is possible. XRP Price Approaches 4.236 […]
Ripple’s XRP price surge propelled its market capitalization past $150 billion, which would place it among the top 100 companies in the United States if it were a corporate entity. Data from CryptoSlate shows that the digital asset, whose value more than doubled in the past month to as high as $2.82 on Dec. 3, […]
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Once RLUSD is available, Ripple plans to use both RLUSD and XRP in its cross-border payments solution.
Data shows social media users aren’t euphoric towards Bitcoin, XRP, and other top cryptocurrencies despite the market-wide surge, a sign that could be bullish for their prices. Positive Sentiment Vs. Negative Sentiment Ratio Remains Low For Top Coins According to data from the on-chain analytics firm Santiment, sentiment around digital assets has been low recently, even for the coins that have enjoyed historic runs. The indicator of relevance here is the “Positive Sentiment Vs. Negative Sentiment Ratio,” which, as its name suggests, tells us about how the positive and negative comments about a given asset being made by social media users currently compare. This metric sources data from major social media platforms like X, Telegram, Reddit, and 4Chan. It puts these posts/messages/threads containing mentions of the relevant term through a machine-learning model to differentiate between positive and negative ones, and finds the difference in their count. Related Reading: Strong Bitcoin Rise “Expected Within 1-2 Months,” Quant Explains Why When the value of this indicator is positive, it means the posts about a positive sentiment outweigh the ones containing a negative sentiment. On the other hand, being negative implies that a bearish mentality is dominant on social media. Here is a chart showing the recent trend in the Positive Sentiment Vs. Negative Sentiment Ratio for five assets: Bitcoin (BTC), XRP (XRP), Ethereum (ETH), Cardano (ADA), and Stellar (XLM). As displayed in the above graph, the Positive Sentiment Vs. Negative Sentiment Ratio has remained almost neutral for all these cryptocurrencies recently. This suggests the market isn’t leaning one way or the other. The trend is interesting, considering XRP, Cardano, and Stellar have seen massive price surges. Generally, positive comments tend to spike when such rallies occur, like they did for Bitcoin early last month when Donald Trump won the US Presidential Elections. Historically, digital assets have often shown moves opposite to what the crowd expects. This means that a price correction can become probable whenever bullish sentiment grows too big. Related Reading: Dogecoin TD Sell Signal Goes Off, But Here’s Why Parabolic Bull Run Can Still Continue Considering that euphoria hasn’t overtaken the investors of XRP and others despite the price surges, it’s possible that their runs could still have room to continue. The Positive Sentiment Vs. Negative Sentiment Ratio could still be to keep an eye on in the near future, however, as social media sentiment can sometimes flip very quickly, especially if some big news comes out. A spike in the indicator would naturally be a bearish sign for the market. XRP Price At the time of writing, XRP is floating around $2.58, up almost 17% over the past seven days. Featured image from Dall-E, Santiment.net, chart from TradingView.com
XRP price saw a couple of swing moves from the $2.85 resistance. The price is consolidating near $2.50 and might aim for more gains above the $2.65 level. XRP price is struggling to gain pace for a move above the $2.80 resistance zone. The price is now trading above $2.30 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2.25 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might continue to accelerate if it clears the $2.72 resistance. XRP Price Holds Gains Above $2.30 XRP price made another attempt to clear the $3.00 resistance. However, it failed to surpass $2.85 and corrected some gains unlike Bitcoin and like Ethereum. There was a move below the $2.65 and $2.50 levels. A low was formed at $2.276 and the price is now correcting losses. There was a move above the $2.40 and $2.50 levels. The bulls pushed it back above the 50% Fib retracement level of the recent decline from the $2.848 swing high to the $2.276 low. The price is now trading above $2.30 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2.25 on the hourly chart of the XRP/USD pair. On the upside, the price might face resistance near the $2.620 level. The first major resistance is near the $2.720 level. It is close to the 76.4% Fib retracement level of the recent decline from the $2.848 swing high to the $2.276 low. The next key resistance could be $2.850. A clear move above the $2.850 resistance might send the price toward the $2.950 resistance. Any more gains might send the price toward the $3.00 resistance or even $3.150 in the near term. The next major hurdle for the bulls might be $3.20. Are Dips Limited? If XRP fails to clear the $2.620 resistance zone, it could start another decline. Initial support on the downside is near the $2.50 level. The next major support is near the $2.40 level. If there is a downside break and a close below the $2.40 level, the price might continue to decline toward the $2.30 support and the trend line. The next major support sits near the $2.050 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 – $2.5000 and $2.4000. Major Resistance Levels – $2.6200 and $2.7200.
If you’re a crypto holder, a keen market observer, or just reading the headlines lately, you’ll know that a few cryptocurrencies are making waves. In addition to Bitcoin, which is currently teasing the $100k level, Ripple’s XRP is creating a price surge: the altcoin is enjoying a solid 107% gain in the last week, data from Coingecko shows. Related Reading: Cardano To Hit $10? Analyst Thinks It’s Happening This Cycle To fully understand XRP’s surge, we must take a step back to its price during the November 5th elections and its value at the start of the year. Immediately after Donald Trump won, the coin was off to a sluggish start, trading at $1.50 levels. But at the beginning of the year, it was trading at $0.61, reflecting a 350% increase. Thanks to XRP’s bullish movement, Tether has been dethroned from the top cryptos in terms of market caps. But if you think that Ripple’s XRP momentum is about to end, well – think again. According to Crypto Michael, a market psychologist, the altcoin is still trading below its potential peak, and he expects a bigger “FOMO” frenzy soon. The craziest thing about this XRP rally is that it still hasn’t broken its ATH Imagine what will happen when it breaks ATH and enters price discovery They laughed at me when I called for a major breakout back at $0.5 I think it’s time you stopped underestimating this coin — Crypto Michael (@MichaelXBT) December 2, 2024 Ripple’s XRP Is Having A Moment XRP is arguably the hottest crypto right now, and its gains outperform those of Bitcoin and Ethereum. Today, XRP is trading at around $2.73, consolidating its price above $2.50. Last month, its price was hovering near the $0.60 level just before the elections, reflecting a growth of over 400% in just one month. XRP’s thrilling price rally has attracted considerable attention from holders, traders, market analysts, and psychologists. Crypto Michael, who regularly shares his bullish calls on XRP, has contributed his insights on the current market action. In a Twitter/X post, he shared that the token’s wild days aren’t over. Altcoin To Break ATH And Enter ‘Price Discovery’ In the same Twitter/X post that garnered over 72k views, Crypto Michael argued that XRP’s current rally hasn’t broken its all-time high. He added that if XRP breaks out and hits another all-time high, it enters its price discovery, and all bets are off. Related Reading: Shiba Inu All Set For ‘Bull Show’, Eyes 180% Rally – Analyst Is It FOMO Time For Ripple’s XRP? The analyst also challenged everyone to imagine a scenario in which XRP finally hits another all-time high and enters price discovery mode. Michael thinks a FOMO moment will break out if this happens. Crypto Michael’s continuous bullish call on XRP has continued to receive criticism. Still, the market psychologist remains firm in his position. In an August 10th posting, he targeted $2 for XRP. However, with the recent rally, Michael has re-assessed his position and decided to hold. Featured image from Fortune, chart from TradingView
XRP has been on a significant upsurge in the past few weeks. Notably, the XRP price recently surged to $2.81, its highest market value since January 2018, marking a significant milestone in its price trajectory. Interestingly, the XRP price rally has seen it overperforming most cryptocurrencies and overtaking BNB, Solana, and Tether USDT in market […]
Bitcoin (BTC) has seen a violent drop in South Korean exchanges amid the growing political crisis in the country. Following a recent announcement by the country’s President, the flagship crypto and other crypto assets saw a brief sell-off that plunged their prices by over 30%. Related Reading: Solana (SOL) Could See A Correction Despite Historic Monthly Close, $400 Still On Sight? South Korea Declares First Martial Law In 44 Years On Tuesday night, South Korean President Yoon Suk Yeol declared an “emergency martial law” for the first time in 44 years, causing panic among Koreans and kickstarting a massive sell-off of Bitcoin and other cryptocurrencies. The Korean JoongAng Daily explains that a declaration of martial law replaces civilian government with military rule and suspends civilian legal processes for military powers. Additionally, it allows measures like “restricting freedom of speech, publication, assembly and association, special changes to the authority of governments or courts, and a warrant system by the provisions of related laws.” Nonetheless, if the parliament requests the lifting of martial law, with the consent of a majority of its members, the president must do so. In a televised briefing, Yoon stated that the measure was taken to “eradicate pro-North Korean forces and protect the constitutional democratic order.” The President accused the country’s opposition of sympathizing with North Korea and anti-state activities. It’s worth noting that the opposition Democratic Party has a majority in the South Korean parliament, which has seemingly complicated Yoon’s efforts to push his agenda. In his statement, the Korean President didn’t announce specific measures but cited the opposition’s motion to impeach top prosecutors and reject the government’s budget proposal. Through this martial law, I will rebuild and protect the free Republic of Korea, which is falling into the depths of national ruin. I will eliminate anti-state forces as quickly as possible and normalize the country. Democratic Party leader Lee Jae-Myung announced they would attempt to nullify Yoon’s order but expressed concern that the military forces would act against the parliament members. Bitcoin And XRP See Negative Kimchi Premium Following the news, the price of Bitcoin saw a sharp correction against its South Korean Won (KRW) pair in local exchanges, dropping 27% on Upbit, Korea’s largest crypto platform. The flagship cryptocurrency fell from the 132 million KRW mark, worth around $92,000, to as low as 88.26 million KRW, around $62,000. However, it has since recovered from the nosedive, trading again above the pre-crash levels. At the same time, Bitcoin recorded a price drop on global exchanges, falling momentarily below the $94,000 support before jumping back to the $95,000-$96,000 range on platforms like Binance, ByBit, and OKX. Similarly, XRP saw its price retrace 60% from the 4,000 KRW mark to as low as 1,623 KRW, worth around $1.23. The cryptocurrency has recovered from the fall in the last hour, trading at 3,600 KRW, valued at $2.52. Related Reading: Cardano Next In Line After XRP? ADA Price Targets $4.88 In Epic Breakout According to Wu Blockchain, the reason behind the negative “Kimchi Premium” is that Korean exchanges do not allow institutional market makers. This, alongside the excessive traffic, “caused prices to be unable to synchronize in a short period of time.” Ultimately, the latest reports revealed that the Parliament passed the vote to nullify the martial law, ending it after three hours. As of this writing, Bitcoin is trading at 133.2 million KWR in Upbit. Featured Image from Unsplash.com, Chart from TradingView.com