The crypto community is witnessing a virtual showdown between Cardano Founder, Charles Hoskinson and Ripple’s Chief Technology Officer (CTO), David Schwartz. The two crypto giants are clashing over Ripple’s present regulatory challenges and the allegations surrounding the ETH Gate. Hoskinson And Schwartz Embark On Heated Debate Tensions have flared up within the crypto community as […]
Crypto firm Ripple is expanding its XRP Ledger (XRPL) enterprise solutions to Japan through a strategic collaboration with HashKey DX, the Tokyo-based specialized consulting company of the HashKey Group, according to an April 30 statement. In this partnership, HashKey DX will work alongside Ripple and SBI Ripple Asia—a collaboration between SBI Holdings and Ripple—to develop […]
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Ripple has announced a major partnership with Tokyo-based HashKey DX, a consulting company of the HashKey Group, to deploy XRP Ledger (XRPL)-powered enterprise solutions in Japan’s burgeoning blockchain sector. The announcement led to an immediate 1.9% increase in XRP’s price, although this gain was slightly pared back; as of the latest data, XRP stands 1.1% higher since the news broke. The Ripple And HashKey Partnership: Details The collaboration leverages the substantial success HashKey Group has seen in mainland China. HashKey‘s blockchain-powered solutions for supply chain finance have registered over 4,000 companies, including 23 banks and 4,300 suppliers. The total transaction volume through these solutions has exceeded $7 billion, with almost $3 billion in financing transactions. In Japan, these blockchain solutions will be adapted and deployed through a partnership involving Ripple and SBI Ripple Asia, a joint venture between SBI Holdings and Ripple. The XRPL will be the foundational technology platform. This blockchain specializes in tokenizing and exchanging both crypto-native and real-world assets. Related Reading: XRP Sees Over $12 Million Sell-Off: Whale Warning Or Buying Opportunity? Andy Dan, a representative from HashKey DX, highlighted the efficiency and suitability of XRPL for their needs, stating, “The XRPL was the ideal blockchain infrastructure for us to build our proven supply chain finance solution. With its proven enterprise track record and unmatched performance metrics, including rapid settlement speeds, low costs, and scalability, we are confident in our ability to drive meaningful transformation and introduce innovative, cutting-edge solutions for businesses in Japan.” Emi Yoshikawa, Vice President of Strategic Initiatives at Ripple, echoed this enthusiasm for the partnership: “We are excited to join forces with HashKey DX and SBI Ripple Asia to introduce XRP Ledger-powered solutions to Japan. This collaboration exemplifies our shared commitment to advancing blockchain technology and delivering tangible value to businesses.” XRP Price Analysis The initial spike in XRP’s price post-announcement reflects the market’s optimistic reception of Ripple’s strategic moves. However, the broader price action context reveals more complexity. Related Reading: Forbes Unveils 20 Crypto ‘Zombies,’ Declares Ripple And XRP Among The Undead Over recent weeks, XRP has experienced volatility, notably breaking down from a symmetrical triangle pattern on the weekly chart that began forming in September 2021. This pattern typically indicates a period of consolidation, with the eventual breakout direction suggesting the prevailing market force. Currently, the breakdown suggests that sellers have gained the upper hand, with the triangle now acting as a resistance zone. XRP faces multiple hurdles ahead as it is currently trading below several critical exponential moving averages (EMAs) – 20, 50, 100, and 200-week EMAs, all nested within the former triangle pattern. This setup presents significant resistance levels that need to be overcome for bullish momentum to resume. The Relative Strength Index (RSI), currently at 49, hovers near the neutral 50 mark, indicating that neither bulls nor bears have definitive control. This neutral position underlines the market’s current uncertainty, waiting for a catalyst that could drive the next significant price movement. Should the bulls regain control and push the price above the triangle’s resistance, the 0.236 Fibonacci retracement level at $0.68410 could initiate a shift in sentiment and potentially more robust gains for XRP. Featured image created with DALL·E, chart from TradingView.com
The once-booming cryptocurrency XRP, championed by Ripple Labs, finds itself precariously perched on a stormy sea of uncertainty. Recent weeks have been a tempestuous voyage for the digital asset, rocked by a confluence of challenges: regulatory scrutiny, dwindling investor confidence, and now, the ominous exodus of major whales. Related Reading: Render Revving Up: Analyst Predicts Potential Climb To $16 XRP Whale Exodus Sparks Fear These “whales,” the deep-pocketed investors holding vast quantities of XRP, have begun executing sizable sell orders, sending tremors through the market. On-chain data reveals a colossal transfer exceeding 24 million units, valued at slightly over $12 million, departing from the Bitvavo exchange and vanishing into an anonymous wallet. Such sizeable movements are often interpreted as a bearish signal, signifying a potential lack of faith among these influential investors and casting a dark cloud over XRP’s immediate future. Source: Whale Alert/X XRP Price Takes A Tumble The negative undercurrents permeating the market have manifested in a precipitous decline of XRP’s price. At the time of writing, XRP is trading at a meager $0.51, representing a staggering 16% devaluation over the past month alone. This price plunge underscores XRP’s struggle to regain its footing amidst a broader market correction that has gripped the cryptocurrency space since May 2023. Institutional Investors Lose Their Appetite For XRP Adding fuel to the fire of anxiety is a noticeable decline in institutional interest. Insights gleaned from Santiment’s data point towards a palpable disinterest among entities holding significant XRP reserves. XRP market cap currently at $27.7 billion. Chart: TradingView.com Investors with holdings ranging from 100,000 to 100 XRP, typically categorized as high-net-worth individuals or institutional players, are exhibiting signs of skepticism. This trend further diminishes XRP’s allure in the market, amplifying the prevailing bearish sentiment. On-Chain Metrics Signal Trouble On The Horizon Looking deeper into the murky waters of XRP’s on-chain metrics reveals a disturbing trend – a decline in both network growth and transaction velocity. The acquisition of new users on the XRP network appears to be stagnating, coupled with a decrease in the frequency of transactions. XRP 24-hour price action. Source: CoinMarketCap This suggests a potential loss of interest among investors and a reluctance to trade XRP. However, a solitary beacon of hope shines through the gloom – a surge in long-term holders. This uptick indicates that some investors remain confident in XRP’s long-term prospects, choosing to hold onto their assets despite the current turbulence. Related Reading: Is SUI Sinking? TVL Tanks As Crypto Price Fails To Keep Afloat Development Activity Dwindles, Raising Concerns About Innovation The realm of development also paints a concerning picture for XRP. Indicators such as code commits and the number of active developers working on XRP-related projects have displayed a downward trajectory. This dearth of development activity raises concerns about a potential lack of innovation or progress within the XRP ecosystem. A stagnant ecosystem can further erode investor confidence and exacerbate the bearish sentiment surrounding the cryptocurrency. Featured image from Corporate Finance Institute, chart from TradingView
In the latest updates on the court case between Ripple and the United States Securities and Exchange Commission (SEC), the Magistrate Judge Sarah Netburn, has ordered strict deadlines for the regulatory agency to respond to the crypto firm’s motion. Judge Issues New Scheduling Order On Thursday, April 25, the magistrate Judge Netburn issued a new […]
Recent data from Santiment, a prominent market intelligence firm, indicate that the altcoins may enter a “prime buying” phase. According to Santiment, more than 85% of the altcoins they track are currently positioned in what is historically considered a “buying opportunity zone.” Sentiment And Technical Indicators Favor Altcoins This assessment is based on the Market […]
In yesterday’s court filing opposing the US Securities and Exchange Commission’s (SEC) motion for remedies and final judgment, Ripple disclosed significant changes to its On-Demand Liquidity (ODL) operations in the United States. The filing clarified that its US-based ODL services have shifted from using XRP to Tether (USDT) as a bridge currency. Why Ripple Chose […]
The legal battle between Ripple and the Securities and Exchange Commission (SEC) is getting heated and, following recent developments, looks far from over. This is due to the disagreement between both parties on the appropriate remedy for Ripple’s violation of securities laws. Ripple Proposes $10 Million Fine Instead In opposition to the SEC’s motion for remedies and entry of final judgment, Ripple has proposed that the court should not impose a civil penalty of not more than $10 million. This figure represents a far cry from the SEC’s proposed judgment. The Commission had earlier asked the court to order Ripple to pay the sum of $1,950,768,364 as a pecuniary fine for violations relating to its institutional XRP sales. Related Reading: Crypto Analyst Predicts Cardano Recovery After ABC Wave Completion, Here’s The Target Specifically, the SEC proposed that Ripple pay a civil penalty of $876,308,712 alongside a prejudgment interest of $198,150,940 and disgorgement of $876,308,712, which represents the profits from its violation of the Securities Act. However, Ripple asked the court to deny the requests for disgorgement and pre-judgment interest and only focus on the civil penalty, which shouldn’t be more than $10 million. Ripple’s lawyers also laid out arguments as to why the civil penalty should not exceed $10 million. Firstly, they stated that the first tier of the statutory maximum penalties is what applies to this case “because the SEC has never alleged fraud, deceit, or manipulation and has failed in its belated attempt to show that Ripple recklessly disregarded the law.” Therefore, Ripple argued that the Commission’s request for a civil penalty of over $876 million isn’t the appropriate remedy for the first-tier structure. They added that the company’s revenue from pre-complaint institutional sales should be the only earnings considered when deciding on a remedy, which makes a civil penalty of not more than $10 million more appropriate. Accounting Error From The SEC Ripple suggested that the SEC made an error in calculating the company’s earnings while deciding on the right amount for which the crypto firm should be fined. According to the company’s lawyers, the Commission failed to “analyze or even consider any other categories of Ripple’s expenses.” Meanwhile, they allege that the SEC didn’t offer any evidence or explanation “for why cost if revenue is the only category of Ripple’s deductible expenses.” Simply put, Ripple argues that the regulator, while calculating Ripple’s earnings, didn’t consider how much the company expended before deciding that almost $2 billion was an appropriate fine. Ripple’s lawyers made this argument while stating that the SEC also erred in relying on the declaration of Andrea Fox, an accountant at the agency. They claim that the SEC never disclosed Fox as a fact or expert witness and that she wasn’t deposed during the initial discovery or supplemental remedies discovery. Therefore, they moved to strike her declaration as an “untimely disclosed expert report.” Ripple Also Opposes SEC’s Proposed Injunction As part of its entry for final judgment, the SEC had asked the court to “permanently” restrain and enjoin Ripple from “directly or indirectly conducting an unregistered offering of Institutional Sales.” Understanding how this could affect their ODL transactions, Ripple has asked the court to deny the request for an injunction. Related Reading: 3 Major Metrics To Watch Out For That Can Impact Ethereum Prices The crypto firm argues that the Commission has failed to show why an injunction is warranted. Injunctions are usually granted when there is a fear of future violations. Ripple claims that the SEC has failed to show a “reasonable likelihood of future violations.” The crypto firm’s lawyers further revealed that Ripple has “changed the way it sells XRP and changed its contracts to avoid any future violations.” To show good faith, they submitted a declaration by Ripple’s President, Monica Long, which describes the steps the company has taken to avoid future violations. XRP price recovers above $0.54 | Source: XRPUSDT on Tradingview.com Featured image from Coinpedia, chart from Tradingview.com
Crypto company Ripple has responded to the Securities and Exchange Commission’s (SEC) pursuit of nearly $2 billion in fines by advocating for a different approach. In a court filing dated April 22, Ripple proposed that the Court reject the SEC’s demands and instead impose a civil penalty not exceeding $10 million. Stuart Alderoty, Ripple’s Chief […]
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In the XRP lawsuit, Ripple has filed its opposition to the US Securities and Exchange Commission’s (SEC) motion for remedies and entry of final judgment. The fintech company counters the agency’s for nearly $2 billion in penalties with a proposed fine of just $10 million maximum. Filed late Monday, Ripple’s 186-page opposition document details its […]
The Chief Executive Officer (CEO) of Ripple, Brad Garlinghouse, has revised his earlier ambitious prediction on the crypto industry’s future market capitalization, acknowledging that he had underestimated the market’s potential surge. Ripple CEO Underpredicts Crypto Market Cap Appearing in a recent interview with Fox Business, Garlinghouse shed light on the growth potential of the cryptocurrency market as well as its performance since the beginning of the year. The Ripple CEO was questioned about his previous optimistic forecast for the crypto industry’s market capitalization, in which he projected that the market cap would double to approximately $5 trillion by the end of the year. According to CoinMarketCap, the current global cryptocurrency market capitalization stands at roughly around $2.25 trillion. Related Reading: Here’s What Would Happen If The Bitcoin Price Fell Below $58,000 In response to the inquiry, Garlinghouse expressed his belief that his previous predictions were not overly ambitious, emphasizing the market’s potential for further growth. He admitted to underpredicting the industry’s potential market capitalization by the end of 2024, citing factors such as the current supply and demand dynamics driving additional increases. Garlinghouse noted that the current market conditions are characterized by increased demand and reduced supply, with these dynamics playing a significant role in the performance of cryptocurrencies. He disclosed that the Spot Bitcoin ETF market and the overall sentiment regarding Bitcoin’s value have significantly boosted demand for the cryptocurrency. Meanwhile, Bitcoin’s supply is diminishing due to the increasing number of large-scale investors purchasing the cryptocurrency rapidly. Additionally, the impending Bitcoin halving event is expected to further decrease the cryptocurrency’s supply. Assessing the current state of the crypto market, Garlinghouse stated that since the last six months, Bitcoin has been up by more than 250%, with further increases anticipated. He also asserted that this overperformance was largely driven by the approval and launch of Spot Bitcoin ETFs as well as the upcoming Bitcoin halving. Regulations Are Vital For Market Development Garlinghouse has disclosed that establishing proper regulatory frameworks for the cryptocurrency market would yield positive outcomes for the market in the future. He explained that one of the primary factors hindering the growth of this evolving market was the United State’s prevailing anti-crypto stance, suggesting that the country’s enforcement actions on the developing industry were “problematic.” Related Reading: Goldman Sachs On Bitcoin Halving: ‘It doesn’t Matter If It’s A Buy The Rumor, Sell The News Event’ The Ripple CEO highlighted several countries, including Dubai, Singapore and the United Kingdom, which have been proactively embracing cryptocurrencies and implementing proper regulatory systems to foster further growth in the market. Garlinghouse has asserted that the US has significantly lagged in recognizing the transformative and innovative impact of the cryptocurrency market, attributing this setback to the United States Securities and Exchange Commission (SEC) and its current Chair, Gary Gensler. Total market cap at $2.2 trillion | Source: Crypto Total Market Cap on Tradingview.com Featured image from Bitcoinist, chart from Tradingview.com
In an interview with FOX Business, Ripple CEO Brad Garlinghouse detailed the company’s ambitious plans for growth over the next three years, highlighted by the launch of a US dollar-backed stablecoin and a strategic expansion in international markets amidst ongoing regulatory challenges in the United States. Ripple CEO Unveils 3-Year Growth Plan When inquired about […]
Crypto analyst Javon Marks has laid out an ultra-bullish narrative for the XRP price, predicting that the crypto token’s price could increase exponentially to triple figures. The analyst also alluded to XRP’s historical price pattern to show that this price move was possible. XRP Price Could Rise Above $200 Javon Marks mentioned in an X […]
XRP investors are eyeing a potential price surge, and one analyst forecasts an optimistic outlook for the cryptocurrency. Dark Defender, a prominent figure in the XRP community, has drawn parallels between the current market movement and the 2017 historic rally. According to Dark Defender, this resemblance suggests a significant upward trajectory for XRP, potentially culminating in what he refers to as a “God Candle.” Related Reading: XRP Price Recovery Could Soon Fade, These Are Key Levels To Watch Market Analysis And Forecast: A Closer Look At XRP’s Future Dark Defender’s analysis centers around the observation that the current market dynamics echo the 2017 cryptocurrency boom, characterized by substantial shifts in digital asset valuations. During this time, XRP experienced a notable ascent from mere fractions of a cent to over $3, reaching an all-time high in January 2018. Drawing from this historical context, Dark Defender suggests that XRP’s current sideways movement may indicate an impending surge, highlighting consistent Fibonacci points as evidence of potential price targets. This moment is not just a coincidence, it’s a Deja Vu. A Deja Vu that takes us back to 2017, a time of significant shifts in the cryptocurrency market. We had one of the most extended sideways but the targets and the support Fibonacci points are still the same. I have added the… pic.twitter.com/rnWanciV1i — Dark Defender (@DefendDark) April 17, 2024 While recent market activity has seen XRP’s value decline by approximately 22% over the past week, with prices dipping from last Thursday’s $0.60 to as low as $0.44 during the weekend, there are signs of resilience within the altcoin. In the early hours of today, XRP exhibited a modest uptick, posting a marginal increase of around 1.2% and reaching a 24-hour high of $0.50. However, at the time of writing, the altcoin has retraced back down by 0.4% with a current market price of $0.49. XRP Market Sentiment Amidst this fluctuation, XRP whales have demonstrated a bearish sentiment. Particularly, Whale Alerts, a whale transaction tracker, has recently shared significant transactions on social media platform X, highlighting the movement of large volumes of tokens. One notable transaction involved the transfer of 158 million tokens valued at $77 million from a private wallet to the Binance crypto exchange. This sizable transfer raised concerns among investors anticipating a shift from a bearish trend to a bullish surge. Additionally, another transaction involved the transfer of 28.9 million XRP, equivalent to $14.2 million, to Bitstamp. Despite the prevailing bearish sentiment, cryptocurrency analyst Javon Marks, similar to Darkdefender, has revealed his optimistic outlook on the altcoin. Related Reading: XRP Price Set For 3,000% Rally To $22, Analyst Predicts Marks, previously recognized for his bullish stance on the altcoin, recently adjusted his predictions, envisioning a 400x surge in XRP’s price. His forecast projects the altcoin to soar to roughly $288. With a Full Logarithmic Follow through, prices of $XRP (Ripple) may be more than poised for $200+. Prices of Ripple went on an over +108,000% run in the 2017-2018 run and has since setup and broke out of its largest resisting structure EVER! A mind-boggling, +33,030% run from… https://t.co/RWklG3ALh0 pic.twitter.com/r1Jie98X9s — JAVON⚡️MARKS (@JavonTM1) April 5, 2024 Featured image from Unsplash, Chart from TradingView
The XRP lawsuit between Ripple Labs and the US Securities and Exchange Commission (SEC) over the status of XRP as a security is poised to escalate to the US Supreme Court. This anticipation has been reinforced by a recent ruling in the Coinbase case, which favored the SEC, as presided over by Judge Katherine Failla […]
XRP could continue a price correction in the short term as recent price action has put it rebounding against a resistance level of $0.5. On-chain data has also revealed a row of transactions from whales of the cryptocurrency in the past 24 hours, but are they bullish or bearish on XRP? These large transactions have been a mix of both, although the trading volume of each transaction could point to them being bearish rather than bullish. XRP Whales On The Move Large XRP transactions, often indicators of whale activity, have spiked recently. XRP has seen some major whale movements over the past few weeks that point to a bearish sentiment among big players amidst a price correction for the cryptocurrency in the past seven days. However, while some of these big transfers are going into crypto exchanges for a potential selloff, some are also anonymous wallets shifting huge amounts of tokens from crypto exchanges into private wallets. Related Reading: Crypto Expert Predicts Bitcoin Will Reach $650,000 Due To This Reason Whale transaction tracker Whale Alerts posted on social media platform X (formerly Twitter) instances of enormous transactions on April 16. The first notable transaction was the transfer of 158 million tokens worth $77 million from a private wallet into the crypto exchange Binance. This massive transfer into the exchange ignited worrying signs for holders hoping for a reversal from bearish momentum into a price surge. Similarly, there was a transfer of 28.9 million XRP worth $14.2 million into Bitstamp. On the other hand, Whale Alerts also indicated the outflow of XRP from Binance into private wallets. Particularly, the tracker noted the transfer of 100 million XRP, worth around $48 million, into private wallets. These transfers were made with three transfers in rapid succession, with each transfer of 33.33 million XRP worth $16.2 million. Interestingly, the tracker also noted the movement of large amounts of tokens on April 15. Overall, there were transfers of 457 million XRP worth over $234 million into crypto exchanges Bithumb, Bitvavo, and Bitstamp. The largest transaction was the transfer of 390 million tokens worth $201 million into Bithumb. What’s Next For The Altcoin? Whale transactions are very important in the world of cryptocurrencies. Prices could swing massively at any time based on the actions of a few big players. For regular XRP investors, these whale transfers highlight the volatility and uncertainty in the current price of XRP. At the same time, their movement into crypto exchanges is bearish, and they give investors a glimpse of the the altcoin’s price trajectory in the short term. Related Reading: Arkham Releases Top 5 Crypto Rich List – You Won’t Believe How Much Is Inaccessible At the time of writing, XRP is trading at $0.4986. Although currently up by 1.79% in the past 24 hours, XRP seems to be reversing after hitting $0.5 again. The altcoin is still in a price correction on the larger timeframe, as it is currently down by 18% and 20% in the past seven and 30 days, respectively. According to a crypto analyst, XRP is set to go on a massive rally to $22. Additionally, many experts believe that the price of the altcoin will experience an enormous price increase after the next Bitcoin halving. Price struggles to find support tat $0.49 | Source: XRPUSDT on Tradingview.com Featured image from Bitcoin news, chart from Tradingview.com
In the tumultuous world of cryptocurrency, where prices can soar to unprecedented heights one day and plummet to new lows the next, XRP, the digital asset associated with Ripple, finds itself at the center of attention once again. Despite recent dips in its value, XRP enthusiasts remain steadfast in their optimism, fueled by the unwavering confidence of cryptocurrency analyst Javon Marks. Related Reading: Elon Musk Latest Tweet: How Much Did Dogecoin Gain From It Today? Analyst’s Bold Prediction Marks, known for his bullish outlook on XRP, has boldly predicted a jaw-dropping 400x surge in the price of XRP, envisioning the digital asset reaching the remarkable territory of $288. This audacious forecast comes in the face of recent challenges for XRP, including a notable dip in value and ongoing market turbulence. With a Full Logarithmic Follow through, prices of $XRP (Ripple) may be more than poised for $200+. Prices of Ripple went on an over +108,000% run in the 2017-2018 run and has since setup and broke out of its largest resisting structure EVER! A mind-boggling, +33,030% run from… https://t.co/RWklG3ALh0 pic.twitter.com/r1Jie98X9s — JAVON⚡️MARKS (@JavonTM1) April 5, 2024 Resilience Amidst Challenges XRP has weathered its fair share of storms in recent weeks, experiencing a 24% decline from April 11 to 13, sending it to its lowest value since May 2023. Despite this setback, the digital asset showed resilience, bouncing back with a 5% rise on April 14. However, this recovery was short-lived as bearish sentiments regained control. Chart: TradingView At the time of writing, XRP was trading at $0.50, up a measly 0.7% in the last 24 hours, but sustained an 18.2% loss in the weekly timeframe, data from Coingecko shows. Source: Coingecko A psychological support, the $0.5 level tends to keep people comfortable if the price stays above it; a decline below it can alarm them. A breakdown below this level is significant because it may encourage traders to sell more because they think the price will drop even further. XRP market cap currently atis now trading at $63,454. Chart: TradingView Analyzing The Trends Marks’ analysis hinges on XRP’s historical performance, particularly its ability to break out of downward trendlines. He points to a significant breakout in July 2023 following a pivotal ruling in the SEC vs. Ripple case. Despite subsequent corrections and occasional bearish pressure, XRP has managed to remain above these trendlines, signaling a strong bullish trend that Marks believes will pave the way for a monumental price surge. Short-Term Challenges Despite the long-term optimism, XRP faces immediate challenges in the form of resistance and bearish sentiments. Trading below the 50-day Exponential Moving Average (EMA) and struggling to surpass the $0.50 mark, XRP must navigate through short-term obstacles before realizing its full potential. Related Reading: Cardano’s Dark Hour: Panic Grips Investors As ADA Loses 22% Of Its Value As XRP enthusiasts eagerly await the fulfillment of Marks’ bold prediction, it’s essential to acknowledge the inherent volatility and uncertainty that characterizes the cryptocurrency market. Factors such as regulatory developments, market dynamics, and broader trends within the cryptocurrency space can all influence XRP’s price trajectory. Featured image from Pexels, chart from TradingView
XRP price is struggling to recover above the $0.5140 resistance. The price must stay above the $0.4550 support to attempt a fresh increase in the near term. XRP is attempting a recovery wave above the $0.450 zone. The price is now trading below $0.550 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance at $0.5440 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair could gain bearish momentum if there is a close below the $0.4550 support. XRP Price Turns Red After a steady increase, XRP price struggled to clear the $0.6420 resistance. It started a fresh decline below the $0.600 support, like Bitcoin and Ethereum. There was a sharp move below the $0.500 support. Finally, the price tested the $0.3880 zone. A low was formed at $0.3875 and the price started a recovery wave. There was a move above the $0.40 and $0.450 levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.6420 swing high to the $0.3875 low. The price is now trading below $0.550 and the 100 simple moving average (4 hours). Immediate resistance is near the $0.5140 level and the 50% Fib retracement level of the downward move from the $0.6420 swing high to the $0.3875 low. The next key resistance is near $0.540. There is also a key bearish trend line forming with resistance at $0.5440 on the 4-hour chart of the XRP/USD pair. A close above the $0.540 resistance zone could spark a strong increase. The next key resistance is near $0.600. Source: XRPUSD on TradingView.com If the bulls remain in action above the $0.600 resistance level, there could be a rally toward the $0.6240 resistance. Any more gains might send the price toward the $0.700 resistance. Another Decline? If XRP fails to clear the $0.5440 resistance zone, it could start another decline. Initial support on the downside is near the $0.480 level. The next major support is at $0.4550. If there is a downside break and a close below the $0.4550 level, the price might accelerate lower. In the stated case, the price could retest the $0.420 support zone. Technical Indicators 4-Hours MACD – The MACD for XRP/USD is now losing pace in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.480, $0.4550, and $0.420. Major Resistance Levels – $0.5140, $0.5440, and $0.600.
Cross-border payment company, Ripple has sent out an urgent message to XRP members and the broader cryptocurrency community. In its message, the payments firm warns about the risks associated with crypto scams and provides valuable information on how crypto members can identify and avoid these types of risks. Ripple Cautions About Scam Activities In a […]
XRP has struggled to a higher degree compared to the others in the top 10 cryptocurrencies by market cap and it seems like the bearish sentiment is far from over. Ripple just unlocked a massive amount of tokens from escrow, which could threaten the price further. Ripple Unlocks 500 Million XRP In the early hours of Friday, on-chain whale tracking platform Whale Alert posted two transactions carrying a notable number of XRP tokens. The first transaction saw 200 million tokens unlocked from the escrow wallet, worth $122.63 million at the time of the transfer. Related Reading: Cardano At Risk Of Crashing To $0.4 As Important Metrics Turn Bearish The second transaction came minutes later when a total of 300 million XRP tokens were also unclosed from escrow. This second tranche of tokens, being larger than the first, was worth $183.89 million at the time, bringing the total number of unlocked tokens to 500 million. Together, both transactions were worth over $300 million. These unlocks have, unsurprisingly, stirred concern in the Ripple community for a number of reasons. One of the reasons is that Ripple never does unlocks in the middle of the month. Rather, they do scheduled unlocks at the start of each month. So, these transactions have drawn the attention of the crypto community. Another cause for concern is the fact that Ripple could be selling these XRP tokens. Hence, putting more tokens in circulation and adding more selling pressure to the already struggling digital asset. However, Ripple has not shown any indication of what these unlocks could be for as there have been no transfer transactions since then, just the unlock transactions. Unlocks Can Send Price Crashing? XRP unlocks are not new to the Ripple community, as scheduled unlocks take place every month. These unlocks see 1 billion XRP tokens unlocked from the escrow according to schedule. But most times, the majority of the unlocked tokens are sent back to escrow. Related Reading: Crypto Analyst Predicts Shiba Inu Price Will Reach $0.0001 If This Happens Usually, these unlocks do not negatively affect the altcoin’s price, but that’s when the unlocks are expected. This time around, the unlocks are unplanned, leading to speculation as to why Ripple would be unlocking XRP tokens outside of the unlock schedule. So far, the XRP price seems to not be reacting to the unlock at all. It continues to trend around $0.61, with small losses of 0.91% in the last day. However, the altcoin is still seeing 4.74% gains in the last week, showing the positive upside that it saw earlier in the week. Token price at $0.6095 | Source: XRPUSDT on Tradingview.com Featured image from Linqto, chart from Tradingview.com
At the recent Paris Blockchain Week, running from April 9-11, Ripple CEO Brad Garlinghouse shared the stage with Xrpl Commons CEO David Bchiri, shedding light on a range of topics pertinent to Ripple and the broader XRP ecosystem. Key discussions focused on the prospect of a spot Exchange Traded Fund (ETF) in the United States, […]
Amid a contentious discussion regarding Ripple and XRP identity, the firm’s Chief Technology Officer (CTO) David “JoelKatz” Schwartz has provided insights on the subject, emphasizing the company’s effort to provide clarity between both parties. Ripple CTO On Naming Controversy Both XRP and Ripple have similar pasts; XRP was once known as “ripples” before taking on […]
XRP has now broken past the $0.6 price mark again after a week of price correction among major cryptocurrencies. The price increase, led by Bitcoin, has seen most cryptocurrencies turning green since the weekend. XRP, being one of the largest crypto assets by market cap, has been included in this increase. Although modest compared to […]
Crypto expert Ash Crypto has outlined his price predictions for several crypto tokens, including Bitcoin (BTC), Dogecoin (DOGE), and XRP, heading into this bull run. He also suggested that these price levels could be attained in the next 12 to 16 months. How High Will Bitcoin, Dogecoin, And XRP Rise? Ash Crypto predicted in an X (formerly Twitter) that BTC would rise between $100,000 and $250,000 by 2025. This prediction aligns with those made by other notable crypto analysts. One of them is Skybridge Capital CEO Anthony Scaramucci, who predicted in January that Bitcoin would rise to $170,000 18 months after the Bitcoin Halving. Related Reading: Ripple CEO Makes Bold Prediction For Crypto Market – $5 Trillion In 2024 Source: X Meanwhile, some other crypto analysts will argue that Bitcoin hitting $100,000 could even happen this year rather than 2025. This includes Tom Dunleavy, the Chief Investment Officer (CIO) at MV Capital, who claims that Bitcoin will rise to $100,000 by the end of this year. Tom Lee, Managing Partner and Head of Research at Fundstrat Global Advisors, also predicted that Bitcoin would rise to as high as $150,000 this year. Regarding his price target for DOGE, Ash Crypto predicted that the meme coin would rise to $1 in the next 12 to 16 months. This prediction is also a common sentiment shared by several other crypto analysts and members of the crypto community. Specifically, crypto analyst DonAlt once mentioned that “it isn’t too unlikely for Dogecoin to go to $1,” while crypto analyst Altcoin Sherpa stated that DOGE could do “something silly like go to $1 this cycle eventually.” Ash Crypto also shared his price target for XRP, stating that the crypto token could rise between $3 and $5. This price prediction, however, seems conservative, considering other predictions that crypto analysts have made for the XRP token. Crypto analyst CrediBULL Crypto recently mentioned that XRP could rise to as high as $20 in this market cycle. Meanwhile, Crypto analyst Egrag Crypto has repeatedly stated that XRP hitting $27 is possible. Undervalued Altcoins Make The List Crypto expert Michaël van de Poppe recently included Chainlink (LINK), Celestia (TIA), and Polkadot (DOT) in a list of ten crypto tokens he believes are undervalued. Interestingly, these three altcoins also made their way into Ash Crypto’s list of coins, for which he outlined price targets. Related Reading: $115-Million Bitcoin Whale Wakes Up From 10-Year Slumber – What’s Next? For LINK, Ash Crypto predicted that the crypto token could rise to between $250 and $500 by next year. LINK’s rise to such levels would undoubtedly be massive, considering it currently trades at around $17. Ash Crypto also predicted a parabolic surge in TIA and DOT’s prices, as he believes they could rise to as high as $150 and $120, respectively. DOGE price rises above $0.2 resistance | Source: DOGEUSDT on Tradingview.com Featured image from CoinGape, chart from Tradingview.com
In an effort to dispel fears, uncertainties, and doubts (FUD) that have permeated the XRP community and the broader crypto market, lawyer Bill Morgan, recently provided comprehensive insights into the legal standing of XRP. Morgan’s comments came in the wake of various court decisions that have cast a shadow over the crypto industry, with significant […]
Crypto analyst CrediBULL Crypto has laid out a bullish narrative for Ethereum (ETH) and XRP. He claimed that both tokens could rise to as high as $20,000 and $20, respectively. Additionally, he stipulated when this parabolic price surge is likely to happen. Ethereum Could Hit A Market Top Near $20,000 CrediBULL Crypto mentioned in an X (formerly Twitter) post that there is a chance that Ethereum could hit a market peak near $20,000. He further explained that ETH could attain this price level based on his belief that BTC can “realistically” see a 2x in this market cycle from its last high of $69,000 in the 2021 bull run. As such, altcoins like ETH will do “multiples of that.” Related Reading: Fantom Supply On Exchanges See Drastic Increase, A Cause For Alarm? Specifically, he foresees ETH doing a 3x to 4x of its prior all-time high (ATH) of $4,800, which puts the second largest crypto token by market cap in a price range between $15,000 and $20,000. Meanwhile, CrediBULL asserted that Ethereum will surely rise to $10,000 at the minimum. Following CrediBULL’s prediction, another X user questioned how possible it was for ETH to rise to a market cap of $2 trillion, stating that it seems “crazy.” However, the crypto analyst responded that ETH rising to such levels is a “blow off top, ” so the market cap will look “outrageous.” He jokingly added that there is a problem if the market caps don’t look outrageous. XRP Is Another Altcoin That Could Experience Exponential Growth In a different X post, CrediBULL also made a case for XRP, stating that XRP could also rise between $10 and $12 if ETH were to hit $10,000. He suggested that XRP wasn’t to be underrated despite its current underperformance, noting that XRP actually flipped ETH in terms of market cap at some point in the last cycle. Related Reading: Crypto Expert Releases List Of Top 10 Altcoins To Buy For Maximum Profit In The Bull Market Therefore, the crypto analyst added that anyone who thinks ETH hitting $10,000 is “realistic” should also believe that XRP rising to $10 is possible. In a subsequent X post, CrediBULL claimed that XRP could even rise to as high as $20 based on ETH hitting $10,000 at its current circulating supply. Again, he noted that XRP is very capable of attaining such price levels, seeing as it is a top 10 coin, which means that the market demand for it is evidently there. CrediBULL’s sentiment echoes that of Nick, the founder of Web3Alert, who previously predicted that XRP could rise to $10 since there were predictions that Bitcoin and Ethereum would rise to as high as $150,000 and $10,000, respectively. At the time of writing, ETH and XRP are trading at around $3,290 and $0.58, according to data from CoinMarketCap. XRP price at $0.57 | Source: XRPUSDT on Tradingview.com Featured image from Bitcoin Sistemi, chart from Tradingview.com
Ripple expects the stablecoin market to surpass $2 trillion by 2028 and aims to compete with Circle’s USDC and Tether USDT.
The token will be "100% backed by U.S. dollar deposits, short-term U.S. government Treasuries and other cash equivalents." according to the company.
In a fight for regulatory clarity, Ripple Chief Executive Officer (CLO) Stuart Alderoty has fired back at the United States Securities and Exchange Commission’s (SEC) Director Gurbir Grewal’s claims of non-compliance among crypto firms within the cryptocurrency industry. Ripple CLO Slams US SEC’s Directors Remarks During a two-day SEC Speaks event sponsored by the Practicing […]
Charles Gasparino, an American journalist and a senior correspondent for Fox Business, has delivered a sobering message to XRP investors, warning them of the financial risks associated with XRP as Ripple navigates its regulatory battle with the United States Securities and Exchange Commission (SEC) Gary Gensler Could Challenge XRP Ruling In a recent X (formerly […]