The Republic of Palau’s Ministry of Finance has reported the successful completion of Phase 2a of its National Government Payment Service Project, focusing on the integration of a stablecoin system powered by Ripple’s blockchain technology. The initiative, dubbed the Palau Stablecoin Program, aims to develop a national payment ecosystem that is both convenient and cost-effective, […]
SBI Digital Community Co., Ltd., a SBI Group subsidiary, and Ripple Labs have announced a strategic partnership to promote the utilization of the XRP Ledger within the Web3 community. According to an official press release dated August 13, the collaboration will focus on integrating the XRP Ledger into “Bto3Web3 community”, a digital platform managed by […]
The long-running legal battle between the US Securities and Exchange Commission (SEC) and Ripple finally concluded following Judge Analisa Torres’ judgment on August 7. With the lawsuit out of the way, crypto analyst CrediBULL Crypto predicts that the XRP price could soon surpass its all-time high (ATH). XRP Price Is Set For A “Mega Run” To New ATH CrediBULL Crypto mentioned in an X (formerly Twitter) post that the stage is set for an “inevitable mega run for XRP. The analyst added that XRP hitting a new ATH is a matter of when and not if. XRP’s current ATH stands at $3.84, meaning the crypto token could rise above this price level soon. Related Reading: Analyst Says Bitcoin Bottom Is Not In, Will Price Crash Below $50,000 Again? Before now, crypto analysts like RLinda had highlighted the conclusion of the case between the SEC and Ripple as one of the catalysts that could spark a massive rally for XRP. She asserted that this event would give XRP a “second life” to achieve a successful breakout above critical resistance levels. Crypto analyst JackTheRippler predicted that XRP would rise to as high as $100 once the case between the SEC and Rippled ended. Crypto analyst Common Sense Crypto also alluded to the lawsuit while outlining why XRP can reach $100. The analyst suggested that the conclusion of the case will lead to the launch of a Spot XRP ETF, which can spark such a parabolic rally for XRP. This lawsuit began in December 2020 and is believed to have hindered XRP’s growth, especially during the 2021 bull run when the crypto token failed to record significant gains or even close to breaking its ATH. However, that looks set to change as Judge Torres’ judgment has ended the lawsuit, at least for now, with an appeal still a possibility. Judge Torres declared a $125 million penalty against Ripple for violating securities laws and an injunction against future violations. However, the $125 million is way below the almost $2 billion fine the SEC initially proposed. The court also ruled that the SEC cannot bar Ripple’s On-Demand Liquidity (ODL) sales. XRP Is Just Getting Started Crypto analyst Mikybull Crypto stated that XRP’s current rally following the court’s ruling is just getting started while urging market participants to get ready for the “real fun.” Whatever happens, XRP holders will hope that the excitement about the end of the lawsuit can help send XRP above $1 in the short term. Related Reading: Dogecoin Bounces Off Key Support Following Crash Below $0.1 Such a move will undoubtedly boost the confidence of these investors that XRP can reach the projected heights that these analysts say it will attain. It is worth mentioning that XRP failed to break the $1 resistance when Judge Torres declared last year that the crypto token wasn’t a security. As such, XRP’s price action will be one to watch. At the time of writing, XRP is trading at around $0.60, up over 18% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Doctor Magic (@Doctor_Magic_) has outlined three reasons for investors to consider buying XRP now. In a series of posts on the X, Doctor Magic detailed the dynamics and data points positioning XRP as a potentially lucrative investment in the current state of the market. #1 Relative Strength Of XRP The crypto analyst highlights the XRP price relative to Bitcoin (BTC) and its resilience in the broader market. “XRP’s strength against BTC and across the board is notable and should not be ignored at this point. When markets turn up again (soon) the pump on XRP will be violent!” This analysis is based on a chart that plots the market cap dominance of as a ratio against BTC and the entire crypto market on a weekly timeframe. The dominance percentage is a critical metric, serving as an indicator of market capitalization relative to BTC, and thus reflects relative investment flows and market preferences. From 2016 to 2021, XRP’s dominance displayed a significant downward trend, suggesting a period during which market preference leaned heavily towards Bitcoin. However, beginning in 2022, this trend leveled off, indicating a potential stabilization or bottoming relative to Bitcoin. This phase suggests that XRP may have found a floor in terms of its market cap dominance, setting the stage for a possible reversal. Related Reading: XRP Ledger Sees Sharp Decline In Major Metric That Threatens To Send XRP Price To $0.2 A key support level for XRP/BTC is identified at 0.00000750 by the analyst. This level has been tested multiple times without a decisive break, establishing it as a critical floor where market sentiment has consistently supported the price relative to BTC. In 2024, following a bounce off this support area, there was a noticeable increase in dominance, suggesting growing investor confidence in its potential for a recovery. In terms of dominance over the entire crypto market (XRP.D), the metric currently stands at 1.47%. After touching down in the support zone ranging from 1.02% to 1.05%, XRP.D also experienced an uptick, further underscoring the renewed market interest and potential bullish sentiment. #2 Recovery Post-Dump With Stable Open Interest Doctor Magic also highlights a notable aspect of the market behavior — its swift recovery from yesterday’s price crash without any increase in open interest (OI). “XRP has now retraced the whole yesterday dump with zero OI added. ZERO. And negative funding,” remarked Doctor Magic. Related Reading: Why XRP Price Won’t Skyrocket After Ripple-SEC Ruling: Crypto Pundit This recovery pattern is significant as it implies the rebound was not fueled by a surge in speculative trading or new positions being opened, but rather by solid buying interest, likely from investors confident in fundamentals or long-term potential. #3 Support From Historical Open Interest Level Finally, the crypto analyst points to the current levels of Open Interest (OI) for XRP, which aligns with a historical baseline that has consistently marked significant market tops and bottoms over the past four years. “OI on XRP at the baseline [blue line] that has marked every top and every bottom the last 4 years,” Doctor Magic notes. This observation suggests that current OI levels are at a critical juncture, indicative of potential turning points in the market. Historically, when OI reaches these levels, it has preceded major price movements. At press time, XRP traded at $0.5030. Featured image created with DALL.E, chart from TradingView.com
In a recent development that has sparked considerable outrage within the XRP Ledger (XRPL) developer community, Ripple is under fire for altering a podcast clip. The edited segment was part of Ripple’s new podcast series titled “Exploring Ripple’s New Stablecoin Ripple USD (RLUSD)”, featuring CTO David Schwartz and Ripple President Monica Long discussing the upcoming […]
Crypto analyst CrediBULL Crypto provided a market analysis on Pepe (PEPE), Ethereum (ETH), and XRP. Based on his analysis, PEPE could hit a new high soon enough, seeing how it has ranged since hitting a new all-time high (ATH) in May. A Price Rally For PEPE On The Horizon CrediBULL Crypto mentioned in an X […]
Former Upbit CEO JP Thieriot publicly endorsed Kamala Harris for President late Thursday via a series of posts on X, causing significant backlash from prominent members of the crypto sector, including popular pro-XRP lawyer Bill Morgan. Thieriot, who stepped down as CEO but remains a Director at Upbit, previously led the company through the controversial […]
As the XRP lawsuit between Ripple Labs and the US Securities and Exchange Commission (SEC) inches closer to a ruling on remedies – the final ruling on district court level – the crypto community is abuzz with speculation about the potential repercussions for the XRP price. Notably, Rachelle Renee, a popular crypto pundit, has voiced a dissenting perspective via X, arguing that the forthcoming Ripple-SEC ruling will not significantly impact the price of XRP, contrary to the expectations of many investors. How Will The XRP Price React? Renee’s analysis starts with a sobering view on the nature of the legal resolution itself, which will penalize Ripple. “It is simply the details on how Ripple will be punished for the few minor indiscretions committed,” Renee explained. She expressed skepticism about the potential for this legal closure to serve as a catalyst for a substantial price increase of XRP. According to Renee, the pivotal moment for a possible price surge was when regulatory clarity was initially provided by Judge Torres in July last year, a milestone that has already been passed without a long lasting effect. “The point at which clarity was decided would have been the time to see it move upward in a big way. It did not,” Renee stated. Related Reading: XRP Price Breaks Out Of 6-Year Triangle, But Is A Rally To $1 Possible? She further elucidated that institutional investors, who might be considered a primary driver for such a surge, only required confirmation that it was legally permissible to buy, hold, and utilize XRP. This clearance has already been granted. Therefore, the details of how Ripple might be reprimanded for early sales of XRP are unlikely to sway their investment strategies: “Institutions only needed to hear it was legal now to buy, hold and use. That happened. They do not need to hear or if #ripple will be punished for a few early sales of XRP.” Renee concluded, “I hate to be the one to say it. But I do not think the final Ripple/SEC/Torres event will do anything for the price of XRP. The institutions that might drive a significant price increase already know it’s legal to engage with XRP, and the specifics of Ripple’s punishment are unlikely to influence their decisions further.” She further conceded that while a minor uptick in the XRP price could occur following the resolution, she firmly believes that “this will not be the moon shot” many are hoping for. Instead, Renee suggested that significant market movements for XRP would more likely result from new developments that demonstrate XRP’s utility and adoption by major global players, such as banks and financial institutions. Related Reading: XRP Goes To All-Time High If This Resistance Breaks: Crypto Analyst Contrasting with Renee’s tempered expectations, Bas van Gestel, another voice from the XRP community, presented a more bullish outlook. Van Gestel argued that the end of the Ripple-SEC case would catalyze a major surge in XRP’s price due to enhanced regulatory clarity attracting more investors, institutional adoption by major banks, and global partnerships that would broaden the currency’s use cases. Responding to van Gestel’s optimism, Renee reiterated her point that much of what was anticipated to drive a price surge has already occurred, with regulatory clarity being established over a year ago. She posed critical questions about the timing of the institutional adoption and significant global announcements that van Gestel cited as catalysts, suggesting that while these developments are possible and could be impactful, they have yet to materialize in a way that affects the XRP price meaningfully. “Since regulatory clarity was provided over a year ago, why have we not seen big announcements. I am a believer these announcements will come. But not as part of the final Torres case close,” Renee claims. At press time, XRP traded at $0.5632. Featured image created with DALL·E, chart from TradingView.com
XRP has emerged as a standout performer among the top-100 cryptocurrencies by market capitalization today, recording a substantial 7% increase over the past 24 hours. This surge in XRP’s price occurs amidst swirling speculations of a forthcoming settlement or remedies ruling in the Ripple-SEC case. Amid these developments, XRP is dominating discussions on X (formerly Twitter), where a flurry of optimistic posts paint a bullish scenario for the cryptocurrency. Among the vocal proponents contributing to this positive outlook is crypto analyst Doctor Magic (@Doctor_Magic_), who shared several different time frame analyses for XRP. Short-Term Outlook For XRP (4-Hour Chart) The first chart posted by the crypto analyst shows the XRP/USD trading pair on a 4-hour time frame. The chart highlights the currently most crucial resistance zone (in red) just above the $0.70 mark. This resistance level is critical, as Doctor Magic suggests that surpassing this could pivot XRP towards new all-time highs (ATHs). Related Reading: XRP Price Jumps As Ripple Leadership Blasts SEC’s ‘Hypocritical’ Crypto Regulation However, he warns of potential short-term (LTF) rejections despite the higher time frame (HTF) indicators appearing bullish, advising traders to exercise caution with leverage long positions in this zone. “XRP most heavy resistance, get above that and we go for ATHs. Note that even though HTF XRP is primed on LTF this resistance could cause a LTF rejection, wouldn’t jump into leverage longs here.” The chart shows an uptrend line that XRP has successfully maintained, suggesting a strong bullish momentum. The focal point is the resistance zone above $0.70, which if breached, could potentially lead to higher price levels. The first target could be the price level above $0.90 which was last seen after the summary judgment by Analisa Torres on July 13 last year. A crucial element in Doctor Magic’s analysis is the breakout observed in the Relative Strength Index (RSI). The RSI demonstrates a clear upward breach of its previous trendline, signaling robust momentum. Currently at 67, the RSI is approaching the overbought threshold, which could suggest some notably bullish days ahead for XRP’s price action if the cryptocurrency runs red hot. Related Reading: XRP Price Poised For ‘Ultimate Breakout’ With $18 Price Target: Crypto Analyst Notably, the $0.70 zone as the key resistance area aligns with the Bollinger Bands analysis in the monthly chart. XRP surged above the middle band with the latest move and is now on the verge of breaking the upper band. “Today we confirm the breakout on monthly RSI. XRP is less than 10% to trigger volatility to come back which is at all time lows, $0.7 is the area to watch,” Doctor Magic explained. Long-Term Prediction For XRP (Weekly Chart) With regards to the higher time frames, Doctor Magic believes that it is too early to predict the cycle top price. Via X, he wrote, “Many of you are asking for my target on XRP, the answer is it depends. If I am right and alts lead the next leg up it will be the nail in the coffin for ‘it’s 2017 again’ and I will be looking for two tops, the second one will be determined by the first one.” The chart shared by the crypto analyst highlights several key Fibonacci retracement levels derived from XRP’s historical price movements, which could serve as critical points for potential reversals or continuation of trends. These include the 0.618 Fibonacci level at approximately $0.91, indicating a moderate resistance point. The 0.786 level sits at around $1.61, serving as a stronger psychological and technical barrier. The parity level or the 1 Fibonacci level is set at $3.31, which marked the April 2021 all-time high. Beyond this, the analysis extends into Fibonacci extension territory, with the 1.272 level at about $8.29, and the 1.414 level at roughly $13.37. The most notable and perhaps ambitious target is the 1.618 Fibonacci extension level, which is placed at approximately $26.60. The analyst concluded, “My point is it’s too soon to speak about final target, need more data for that and I will update when its time. For the impatient of you my best guess is we see double digits XRP and that $26.5 will be tagged.” At press time, XRP traded at $0.6539. Featured image created with DALL·E, chart from TradingView.com
The XRP price has climbed by over 4% within the last 24 hours, extending its bullish trend observed over the past month. This increase propelled the token to a four-month peak of $0.6377 early on Tuesday, outperforming the top 10 cryptocurrencies in the market. However, this recent surge in value coincides with strong criticism from key Ripple executives, including CEO Brad Garlinghouse and the company’s Chief Legal Officer Stuart Alderoty, directed at the leadership of the US Securities and Exchange Commission (SEC). Ripple’s Response To Amendments In Binance Lawsuit As Bitcoinist reported early Tuesday, the SEC amended its complaint against the world’s largest exchange, Binance, specifically adjusting the classification of 10 cryptocurrencies, such as Solana (SOL), Cardano (ADA), Polygon (MATIC), and Cosmos (ATOM), that were initially deemed as “securities.” Related Reading: Research Firm Predicts Bitcoin Game Theory In Global Adoption Race Brad Garlinghouse, Ripple’s CEO, responded to this development by emphasizing the SEC’s perceived “hypocrisy” in the classification of crypto tokens and its management of crypto regulations over the past year under the guidance of Chair Gary Gensler. Garlinghouse criticized the SEC for what he sees as a lack of clarity in the consistent application of rules, suggesting possible political agendas or questionable litigation tactics. “Definitely not faithful allegiance to the law,” Garlinghouse said. Stuart Alderoty, Ripple’s CLO, also weighed in on the situation, pointing out apparent inconsistencies between the lawsuits involving Binance and the US-based crypto exchange Coinbase, both initiated around the same period in the last quarter of 2023. Alderoty highlighted the SEC’s response to judicial scrutiny in the Binance case compared to its stance in the Coinbase lawsuit, particularly regarding the classification of tokens, in which twelve cryptocurrencies, most of which were also included in the Binance case, were also deemed securities. Analyst Forecasts Bullish Breakout For XRP Price Despite XRP not being implicated in the recent SEC decision, its price continues to surge following a 33% uptrend over the past month. The sustained momentum fueled by bullish investors suggests a potential push towards the $1 threshold. Crypto analyst Ali Martinez notes that XRP’s price has been consolidating within a symmetrical triangle pattern for six years. Martinez anticipates a bullish breakout if XRP surpasses the $0.90 mark, especially in light of the ongoing recovery from a significant dip that drove the token to a 17-month low of $0.3825 on July 5. Related Reading: Dogecoin & Other Memecoins Seeing Less Interest Than Bitcoin: Data However, a critical event looms on August 1 when Ripple Labs is scheduled to release 1 billion XRP from its escrow account, which this influx of supply could potentially outstrip demand, leading to a subsequent decline for the XRP price if market interest fails to materialize. The key will be to watch the $0.5353 level, where the token’s 200-day exponential moving average (EMA) currently resides, which could act as a notable support in the scenario of a further decline following Ripple’s token release. Featured image from DALL-E, chart from TradingView.com
Pro-XRP and crypto attorney John E. Deaton, who won the Republican nomination for Senate in Massachusetts, has emerged as one of the largest crypto holders in the political space ahead of the election, with significant holdings in the largest digital assets on the market. XRP Defender John E. Deaton’s Crypto Holdings Exposed Deaton, known not […]
According to a report by Nikkei, SBI Holdings will establish a joint venture with Franklin Templeton, a prominent US investment management company, by the end of this year. The joint venture aims to explore the investment environment for spot Bitcoin ETFs in Japan and could be a new hope for a spot XRP Exchange Traded […]
Crypto exchange OKX has revealed plans to delist trading pairs for several crypto tokens, including Cardano (ADA), Shiba Inu (SHIB), and XRP. This follows a performance check by the crypto exchange, which shows that these trading pairs aren’t meeting up to expectations. OKX To Delist These Trading Pairs OKX announced in a blog post that […]
Crypto analyst Javon Marks has reaffirmed his ultra-bullish prediction for XRP in his latest analysis. The analyst explained why the crypto token will still rise to as high as $150 in this bull run. Why XRP Is Still On Course To Reach $150 Marks mentioned in an X (formerly Twitter) post that XRP looks right on the brink of a “massive bullish breakout,” having recently tested one. He claimed that XRP could successfully achieve this bullish breakout with such continued market strength. He added that this successful breakout and a Full Logarithmic Follow-Through would allow the crypto token to enjoy a price rally of over 41,400% and reach and even climb above $150. Related Reading: Don’t Get Shaken Out, Analyst Says Bitcoin And Altcoins Rally Is Just Starting Marks has continued to predict that XRP can reach such heights for a while based on his Full Logarithmic Follow-Through analysis. Before now, he mentioned that XRP could rise to as high as $200 and noted that such a parabolic rally was indeed possible for the crypto token since it has done it before during the 2017 bull run. Marks has also received support from other analysts like CryptoBull, who have predicted that XRP will rise to triple digits. CryptoBull once predicted that the crypto token could rise to $154 based on an ascending broadening wedge, which he expects XRP to break out from soon enough. Crypto analyst JackTheRippler also predicted that XRP will rise to triple digits when the US Securities and Exchange Commission’s (SEC) lawsuit against Ripple ends. In a more recent analysis, JackTheRippler asserted that a new all-time high (ATH) was on the horizon. He stated that XRP’s multi-year bullish pattern is ending and suggested that it won’t be long before the crypto token enjoys that rally that will see it surpass its current ATH. The crypto analyst is also bullish on XRP because he believes the case between the SEC and Ripple is about to end. About To Break Out Of Six-Year Consolidation Triangle Crypto analyst Mikybull Crypto also recently offered a bullish narrative for XRP, stating that the crypto token is about to break out of the six-year consolidation triangle. The analyst claimed the breakout will be “massive,” followed by a “long sustained enormous rally.” He hinted at his plans to invest in XRP, remarking that he won’t be sidelined for the upcoming move. Mikybull Crypto previously mentioned that XRP might replicate its 2017 rally, considering its current price action path. He stated that the crypto token could rise above $4 if it follows a similar path to 2017. Related Reading: Polygon Network Active Addresses Just Hit A New Yearly High, But Why Is MATIC Price Down? Meanwhile, crypto analyst Alex Clay also echoed a sentiment similar to Mikybull Crypto, stating that XRP is breaking out of a symmetrical triangle that it has been consolidating inside for about 2,275 days. The analyst expects XRP to rise to between $1.2 and $1.5 in the mid-term, while he predicts that the crypto token could rise to $3 in the long term. Featured image created with Dall.E, chart from Tradingview.com
Tyler and Cameron Winklevoss, the founders of crypto exchange Gemini, have publicly declared significant financial support for John Deaton, a lawyer known for his involvement in the XRP community. On the evening of 18 July, Tyler Winklevoss announced via X that he had donated $500,000 in Bitcoin (equivalent to 8 BTC) to Deaton’s senatorial campaign […]
The XRP price has seen a sharp rally of over 39% in the past week as on-chain data shows the sharks and whales have been busy accumulating. XRP Sharks & Whales Now Carry Over 85% Of The Entire Supply According to data from the on-chain analytics firm Santiment, large XRP investors have been participating in buying for a while now. The indicator of relevance here is the “Supply Distribution,” which keeps track of the total amount of supply that a particular wallet group is currently holding. Related Reading: Bitcoin Bullish Signal: NVT Golden Cross Suggests BTC Oversold The addresses or investors are divided into these cohorts based on the number of tokens they carry in their balance. For instance, the 1 to 10 coins group includes all holders who own between 1 and 10 XRP. In the context of the current topic, the combined group of sharks and whales is of interest. The sharks and whales are the two largest cohorts in the sector, so their behavior can be worth keeping an eye on, as it may cause ripples in the market. Naturally, the whales are the more influential of the two groups. Santiment defines the lower bound for the combined sharks and whales group as 100,000 tokens. At the current exchange rate of the cryptocurrency, this is worth around $61,200. Below is a chart that shows the trend in the XRP Supply Distribution for these sharks and whales over the past few months: The above graph shows that the XRP sharks and whales have seen their supply rise over the last few months. These large investors now hold around 51.59 billion XRP, equivalent to around 85% of the entire circulating supply of the cryptocurrency. In terms of the pure balance, the supply of this combined cohort has managed to set a new all-time high (ATH) with the latest increase, while in terms of the percentage, the metric is sitting at an 11-month high. The accumulation from the sharks and whales has persisted in this period regardless of whether the cryptocurrency’s price has been rallying or plunging. This conviction from these key investors is naturally an optimistic sign for the asset. While the coin seems bullish in the long term due to this, another development can be a bearish predictor in the short term. As Santiment has pointed out in another X post, investors have shown hype toward XRP on social media. As the chart shows, the sentiment towards the asset has shot up into positive territory following its recovery rally. Historically, cryptocurrencies have tended to move opposite to the majority’s expectations, so this FOMO can end up as an obstacle to the surge. Related Reading: Bitcoin Hasn’t Reached Bull Cycle Top Yet, Quant Explains Why The analytics firm has also attached the data for the sentiment around Cardano (ADA) in the graph. This altcoin appears to be seeing highly negative sentiment, which could be a bullish sign for it. XRP Price XRP has broken past the $0.61 level after witnessing a more than 41% rally over the past week. Featured image from Dall-E, Santiment.net, chart from TradingView.com
Crypto analyst Crypto Bitlord has urged market participants to buy the XRP token. In a series of posts on his X (formerly Twitter) platform, he suggested why he asked everyone to make such an investment decision. Crypto Analyst Says Buy XRP And Hold Crypto Bitlord urged everyone in an X post to buy and hold […]
Crypto analyst Dark Defender has shared an extremely bullish technical analysis on XRP via X, suggesting a bullish reversal and the possibility of “God Candles.” The analysis uses a variety of technical indicators and chart patterns to project an optimistic outlook for XRP. XRP Price Poised For ‘God Candles’? The core of Dark Defender’s (@DefendDark) analysis is focused at two indicators which suggest a change of trend. The first one is the breakout above a descending trendline. This move is critical as it means that XRP eliminated its first key resistance and suggests a potential reversal from the downward trend which started in mid-March. It is particularly noteworthy as it indicates a shift in market sentiment from bearish to bullish. Supporting this trend reversal is the Fisher Transform indicator, which is crucial for identifying major price reversals. The Fisher Transform uses price data to produce a Gaussian normal distribution to signal potential changes in market direction. Related Reading: XRP Resilience Sparks Further Gains As Price Surpasses $0.466 Level On the weekly chart, a ‘Golden Cross’ is visible where the faster line of the Fisher Transform crosses above the slower line, typically a bullish signal in market analysis. This event is essential as it provides confirmation of the trend reversal signaled by the breakout from the descending trendline. “Ladies & gentlemen, XRP had the highly bullish Reversal approval for the Fisher Indicator weekly. Initial resistance instantly broke at $0.4623!” the crypto analyst remarked. However, it’s important to note that the digital asset is still navigating below the Ichimoku Cloud, indicating that resistance still lies ahead. The Ichimoku Cloud is a comprehensive indicator that provides insight into the momentum and future areas of support and resistance. Related Reading: XRP Price Eyes Colossal 280% Breakout Amid CME Group Partnership While the breakout from the descending trendline and the bullish Fisher Transform signal are promising, the price remaining below the Cloud suggests that XRP has yet to clear all hurdles and establish a stronger bullish presence. Additionally, the chart also details several key Fibonacci levels that are critical for understanding the next potential resistance and support zones. After breaking the initial resistance at $0.4623, XRP is currently testing the interim Fibonacci level at $0.5286. Dark Defender emphasizes the significance of the price closing above this level to sustain the bullish momentum: “Our interim Fibonacci Level, $0.5286, is being tested. It would be great to close this week’s candle above $0.53.” Notably, the XRP price didn’t manage to close the week above this price. Despite that, XRP is currently continuing the upward trend, trading above $0.53 today. The next resistance point to level is at $0.6044. Surpassing this level could lead to the creation of multiple “God Candles,” suggesting a rapid and sustained increase in price. Dark Defender remarked, “Next week, we will test the secondary mid-level resistance of $0.6044. It’s crucial not to underestimate the master fundamental level for XRP, which is $0.6649. Above it, we can expect multiple God Candles, which will open the path to Heaven’s Stairway.” At press time, XRP traded at $0.53494. Featured image created with DALL·E, chart from TradingView.com
The ongoing legal battle between Ripple Labs Inc. and the US Securities and Exchange Commission (SEC) could end this week with a settlement between the two parties, as the SEC has scheduled a meeting behind closed doors for Thursday, July 18, 2024. Ripple Vs. SEC Settlement This Week? Brett Hill, an ambassador from the crypto […]
The XRP price has outperformed its peers among the top ten largest cryptocurrencies on the market, experiencing a significant surge of 13.5% in the past week alone after experiencing a sustained decline from its yearly high of $0.745 in March. With an eye on a key Fibonacci level, the eighth largest cryptocurrency by market capitalization, currently valued at $26 billion, is poised for a potential price explosion that could send the XRP price to new yearly highs, coupled with a bullish announcement surrounding the token’s rise since Thursday. XRP Becomes Bridge Asset In $1.2 Trillion Market CoinGecko data shows a notable increase of 50% in trading volume over the past few days, demonstrating the renewed bullish sentiment surrounding the XRP price, along with a significant collaboration announcement with the world’s largest derivatives marketplace, CME Group, which has further strengthened XRP’s position in the market. Related Reading: Litecoin Is A Hub Of Whales: Over $2.85 Billion Of $100,000 Transactions Processed On Thursday, CME Group made a major announcement, revealing that starting July 29, the CME and XRP dollar reference rates and real-time indices will be included in its suite of benchmarks, positioning the token as a bridge asset in a market worth approximately $1.2 trillion. The XRP price has benefited from this announcement, as transparent pricing information is likely to increase liquidity, making it easier for investors to buy and sell XRP tokens, resulting in the current price surge of 4% witnessed in the 24-hour time frame. Additionally, this collaboration may open new doors for creating financial products, such as futures and options based on XRP, providing holders with additional ways to manage risks and maximize their investments. Brad Garlinghouse, CEO of blockchain payments company Ripple, which is closely associated with XRP, expressed his enthusiasm for the collaboration, emphasizing the importance of having a trusted benchmark reference rate as a critical step in adopting institutional crypto products. Garlinghouse praised the joint effort between CME Group and CFBenchmarks to create an XRP index, noting that the market has validated the need for such initiatives. Ripple’s CEO stated: First step towards institutional crypto products is to have a trusted benchmark reference rate. Nice to see CME Group and CF Benchmarks collaborate on this for an XRP index. The market has spoken. XRP Price Eyes $1.8 In addition to the news, technical analysis points to further upside for the XRP price if certain conditions are met. Crypto analyst Dark Defender recently noted in a social media post that XRP is testing the $0.462 Fibonacci level, which is key to the token’s prospects and expectations for the continuation of the uptrend. The analyst also spotted two bullish divergences in the price and the Relative Strength Index (RSI) numbers as they made higher lows on the weekly XRP/USD chart. This led Dark Defender to believe that if the XRP price breaks and consolidates above this level from today until Sunday, the cryptocurrency could begin a journey towards the $1.88 level, representing a 288% price increase from the current trading level of $0.465. Related Reading: Spot Ethereum ETFs FOMO: Tron Founder Justin Sun Drops $5 Million On ETH Featured image from DALL-E, chart from TradingView.com
In an analysis shared via X and YouTube, crypto analyst Matt “The Great Mattsby” Hughes highlighted what could be a historic move for the XRP price, based on the Bollinger Bands indicator. Hughes points to an impending squeeze in XRP’s monthly Bollinger Bands, suggesting a potential spike similar to previous rallies where the cryptocurrency saw massive gains. Hughes explained via X: “XRP has one of the tightest monthly Bollinger Band squeezes in its history and in all of crypto right now. The last time it squeezed like that, it shot up 60,000%.” In a YouTube video, the crypto analyst went into more detail, explaining how the XRP price has behaved in the past when the Bollinger Bands have been this tight. XRP Could Skyrocket To $250 The first instance, according to Hughes, occurred between September 2016 and March 2017. During this period, the XRP price consolidated for several months, causing the Bollinger Bands to tighten dramatically. After this period of consolidation, the XRP price skyrocketed, achieving gains that Hughes estimates to be around 60,000%. The second time was from December 2020 to April 2021. In this case, XRP rose by around 1,000%. “So it was much less than this period here and simply because it looks like it wasn’t as tight as it was right here [the first time], we can see it was much tighter during the first time,” Hughes explained. Related Reading: Crypto Whales Buy The Dip As $22 Million In XRP Flows Out Of Binance This is the third time. Notably, “is the tightest it has ever been, even tighter than the first time, which suggests that it should explode much higher than previous cycles,” he said. The Bollinger Bands are a technical analysis tool defined by a set of trendlines two standard deviations (positive and negative) away from a simple moving average (SMA) of a security’s price, but can be adjusted to suit the user’s preferences. A narrowing of these bands typically indicates low volatility with the potential for a major bullish or bearish price movement once the bands begin to widen again. Hughes also examines the duration from the all-time high to the current price, noting that 2,373 days have elapsed. This long period of relative inactivity in price growth, combined with the extreme tightness of the Bollinger Bands, forms the basis of his prediction of an imminent significant move higher. “It’s the tightest in its history as well so that just kind of proves to me that there is going to be a move sometime in the near future. I’m not sure when but sometime, we can see that this is looking more and more like it wants to break out,” Hughes remarked. Related Reading: Crypto Analyst Predicts XRP Price Crash To $0.07 Amid Triangle Breakdown In addition to the technical perspective, he also discussed XRP’s price performance relative to its 20-month moving average. He notes that, similar to previous patterns, XRP has spent a considerable amount of time below this moving average prior to significant rallies. In both previous instances, XRP’s breakout was preceded by a period below this moving average, followed by a breakout that began after testing the bottom of the Bollinger Band. Notably, the price of XRP hasn’t yet tested the bottom of the Bollinger band. Therefore, Hughes speculates about a potential price drop as a “final flush out”, possibly down to the $0.30 area before a potential breakout. Such a move would be in line with previous cycles where a test of the lower Bollinger Band has led to strong rallies. “So there is a possibility that the price could come down to test it. Maybe one last flush out maybe down into the $0.30s, we don’t know but if that’s the case then that’s just more confluence of the previous cycles that price can still just break out,” he concluded. By the way, if history were to repeat itself and XRP were to increase by 62,000%, it would reach a price of $250. At press time, XRP traded at $0.44574. Featured image created with DALL·E, chart from TradingView.com
In an interview with Tony Edwards of Thinking Crypto, Matthew Sigel, Head of Digital Assets Research at VanEck, explained the firm’s decision to file for a spot Solana-based Exchange Traded Fund (ETF) rather than one based on XRP. VanEck, a pioneering investment management firm in the US, has chosen to back Solana due to its […]
Crypto analyst @Ripple_Effect11 predicts an imminent XRP price crash in a new technical analysis shared via X. His prediction is underpinned by a bearish breakout from a major triangle pattern that has been forming since the $3.84 all-time high on January 4, 2018. The analysis paints a dark picture for XRP in the coming months, with a potential drop to as low as $0.07, contingent on certain technical events. Why The XRP Price Could Crash To $0.07 Elliott Wave Theory, which forms the basis of @Ripple_Effect11’s analysis, is a form of technical analysis that predicts future price movements by identifying recurring wave patterns linked to investor psychology. The theory posits that market movements primarily unfold in five ‘impulse’ waves followed by three ‘corrective’ waves. In the case of XRP, the analyst identifies that the cryptocurrency has been in a corrective phase since its peak in 2018, marked by an A-B-C correction pattern. Wave A saw a sharp decline as low as $0.105 in March 2020. Wave B experienced a partial retracement upwards to $1.96 in April 2021. Wave C, where XRP is currently, is typically the final leg and involves another downward move, often completing the corrective phase. Related Reading: XRP Holds Bullish 2014-2017 Pattern Unless This Happens: Analyst The analysis suggests that within this final Wave C, XRP is undergoing its sub-waves. It’s currently in the third wave which traditionally is significant in terms of the depth and length of the price movement. Notably, the chart also shows a large triangle formation which has encapsulated the price action of XRP over several years. A triangle in technical analysis often represents a period of consolidation before the price breaks out decisively in one direction. According to @Ripple_Effect11, last week’s close below $0.42 confirmed a bearish breakout from this pattern and further supports the theory of a massive price crash. “No one is talking about this MASSIVE XRP triangle breakdown. A weekly close below $0.42 is extremely bearish,” he stated. Related Reading: Buy The Dip? XRP Whales Doing Exactly That – Is A Price Rally Next? The analyst’s first target is at $0.33 where minor psychological support may exist. A second, more significant target at $0.18, which could represent a firmer historical support zone. The third target ranges between $0.12 and $0.14, possibly acting as interim support before more substantial selling. This price represents the end of the third wave. Amidst the fourth wave, the crypto analyst predicts that the XRP price could rebound above $0.18 before the final wave 5 pushes XRP even further down. The final target is between $0.07 and $0.08, translating into a more than 80% crash from the current price level. These targets are corroborated by technical indicators on the chart. The MACD is trending below its signal line, highlighting bearish momentum. The RSI is near 45, suggesting a lack of strong buying pressure and potential for further decline. Ripple Ruling Could Start The Trend Reversal Adding context to the technical analysis is the ongoing Ripple vs. SEC lawsuit, which the analyst notes is expected to conclude by July 2026. The outcome of the legal battle is anticipated to have significant implications for the XRP price. “Smart money sees buy targets 3 and 4 as attractive before the big utility pump from 2026 to 2030. Ripple Vs SEC started in 2020. XRP was classified as NOT a security in 2023. Ripple wins the case and XRP pumps hard 2026. Will you be patient?,” the crypto analyst concludes. At press time, XRP traded at $0.43448. Featured image from Shutterstock, chart form TradingView.com
A crypto analyst has identified key indicators that point to a substantial rally for XRP, the native token of the XRP Ledger (XRPL). According to the analyst, XRP is poised to rebound from its bearish trends and soar to new all-time highs XRP To Mirror 2017 Rally To New Highs In an X (formerly Twitter) post in June, crypto analyst, Tylie Eric expressed bullish optimism about XRP, emphasizing the cryptocurrency’s potential for a major rally this year. He shared an XRP price chart depicting the cryptocurrency’s price movements from as early as 2014 to 2025. Related Reading: British Mega Bank Standard Chartered Says Bitcoin Will Hit $100,000, Here’s When Eric disclosed that XRP has met all the necessary requirements and conditions to support a potential bull rally to new highs. The analyst also revealed that XRP is completely prepared to continue with “wave 3 and wave 5” of the renowned Elliott Wave Theory. The Elliott Wave Theory is a tool used to determine price movements in a cryptocurrency. The technical analysis is based on viewing long-term recurrent price patterns in a cryptocurrency. In his post, Eric disclosed that XRP was currently displaying similar patterns and conditions to those seen during its bull rally in 2017. Earlier in 2017, XRP witnessed a massive price rally, which preceded its surge to new all-time highs of $3.84 in 2018. Eric has suggested that XRP’s price action was displaying the same bullish patterns, as a result, he has projected a substantial price increase to $36.36 before the end of 2024. The analyst also revealed that XRP will have to witness a whopping 7,637.22% surge for it can reach the projected price target. Despite being a cryptocurrency analyst, Eric is an avid supporter of the XRP cryptocurrency. The analyst has constantly made bullish predictions for the altcoin, anticipating potential rebounds from bearish sentiment. Moreover, the crypto analyst revealed in his earlier post that XRP’s price action was significantly “boring.” This could be attributed to the cryptocurrency’s recent downward spiral. As of writing, the price of XRP is trading at $0.45, reflecting a 4.12% decrease in the past 24 hours and a 11.71% drop over the past month. The popular cryptocurrency has continually recorded steep declines since the beginning of June. Previously, the cryptocurrency was consolidating slightly above $0.5, however now the cryptocurrency is on a major downward trend, triggered by market volatility and Ripple’s ongoing legal battle with the United States Securities and Exchange Commission (SEC). Bullish Sentiment Rises Despite its waning value, XRP’s bullish sentiment from crypto analysts continues to rise. A particular crypto analyst identified as ‘Egrag Crypto’ predicted that the altcoin was getting closer to the Fibonacci (Fib) 1.618. The analyst disclosed that this unexpected development could indicate possible areas for a price reversal or continuation in XRP. Related Reading: Bitcoin Price Crash Is Buy Opportunity As Wallets Holding 10+ BTC Reaches New ATH Egrag Crypto also shared a price chart depicting XRP’s price actions from 2014 to 2024. In his post he emphasized that if history repeats itself XRP could potentially see a price surge to $27. The analyst has urged investors to remain prepared and optimistic about XRP’s projected surge to to $27. Featured image created with Dall.E, chart from Tradingview.com
Pro-XRP lawyer Fred Rispoli, founder of HODL Law, has made a stunning prediction on X regarding a potential verdict in the Ripple vs. SEC case. Rispoli noted a recent filing case, specifically Ripple’s Notice of Supplemental Authority regarding the recent Binance decision by the US District Court for the District of Columbia. The court’s decision […]
The XRP price continues to remain suppressed under the heat of the Ripple vs. the United States Securities and Exchange Commission (SEC) legal battle. This suppressed price action has continued to discourage investors when its comes to the altcoin. However, not everyone has succumbed to the bearish pressure, as crypto analyst RLinda believes that the XRP price could be attempting a decoupling that could lead to a price breakout from here. XRP Price Decoupling Could Trigger Price Crypto analyst RLinda has forecasted a bullish picture for the XRP price where the altcoin could completely break out of its sluggish movement. The analysis which has now spanned a number of a days flows through XRP’s performance over the last year and how it has suffered crashes even when others in the market were reaching new all-time highs. Related Reading: Analysts Says Cardano Has Bottomed And Will Rally To $0.8, But It Must Hold This Level While the coin continues to be bogged down by the Ripple vs. SEC battle, crypto analyst RLinda believes that the XRP price could be reaching a possible decoupling. She explains that this is happening not just technically but fundamentally as well. A possible decoupling is bullish for the XRP price, given that it would be the start of a major price rally. Using the 1-Week chart, the crypto analyst highlights some technical developments that could be important to this possible decoupling. The first of these is that XRP is still testing the “Wedge resistance with the aim of breaking it.” Also, RLinda points out that volatility is decreasing as the consolidation is continuing at this point. However, this consolidation could be the reason that the price begins another rally. As for where the price could go from here, the crypto analyst points out that it could possibly rally as high as $0.6265 and even reach $0.73 by the time it is done. However, XRP must hold the support level at $0.4637 while breaking the resistances being mounting at $0.4962 and $0.5720. Factors Holding Price Down While XRP price continues to be one of the most popular cryptocurrencies in the market, a number of factors have suppressed. The major one is the lawsuit mentioned above. Even though Ripple has scored multiple victories against the regulator during this time, the fact that the lawsuit is yet to be officially over continues to present a major hurdle. Related Reading: Crypto Analyst Predicts 45% Drop For Bitcoin, But Says It Won’t Go Below This Level In her analysis, RLinda points to these issues as being behind the price not performing well. However, Ripple CEO Brad Garlinghouse has said that he expects the lawsuit and settlement to be complete by the end of this summer. This puts it sometime before September. If this happens, then it would mark a pivotal point for the turnouts in the XRP price. “The Ripple vs. SEC case is a pivotal moment for cryptocurrency regulation, as a final victory would be a strong green sign for the entire cryptocurrency community amidst the SEC getting a number of restrictions on its activities lately due to overstepping its authority,” the analyst said. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Alessio Rastani has warned that XRP is in “trouble” following his recent analysis of the chart. He outlined certain “strong warnings” on the chart, which showed that the crypto token could experience further price declines. Why XRP Is In Trouble Rastani mentioned in a video on his YouTube channel that XRP could drop to $0.13 or even lower as part of Wave C of his analysis using the Elliot Wave Theory. He noted that a drop to that price level represents about a 100% decline for XRP from Wave B and a similar corrective move to Wave A that occurred in 2020. Related Reading: Bitwise CIO Expects $15 Billion To Flow Into Spot Ethereum ETFs, How Will ETH React? The crypto analyst also alluded to the the altcoin’s bounce in 2020, around the time the crypto token was declared a non-security. He claimed that the rally then overlapped, which suggested it was a corrective bounce. He noted that these corrective rallies are bearish in nature as they usually resolve to the downside. Rastani claimed that an impulsive rally is required for XRP to continue its uptrend. That is why he believes that XRP can still drop lower since the corrective rally from 2022 is still in play. The analyst also highlighted the support levels at $0.41 and $0.35 as crucial, stating that a break below those levels will serve as confirmation for the downward move to $0.2 and $0.17. He added that XRP could even drop lower to $0.13. Meanwhile, Rastani predicts that this move could take several months, stating that the crypto token could drop to these levels by year-end or sometime in 2025. He also said that the altcoin needs to stay below the resistance levels at $0.64 and $0.74, as a break above those levels will invalidate his projections. Rastani also highlighted the momentum indicator on XRP’s chart, noting that there has been a lot of “downward negative momentum” for XRP recently, suggesting that a downward move will likely occur. He claimed that the downward momentum hasn’t been triggered yet, but he believes that it will soon happen, especially if the altcoin breaks below $0.35. An Alternative Move For Price Rastani also outlined an alternative move that XRP could make if his projections are invalidated, although he doubts that will happen. He claimed that if XRP manages to break above $0.64 and $0.74, that would mean that the rally in 2022 was Wave A, and the recent drop to around $0.40 was Wave B, thereby setting up XRP for a move to around $1.40 for Wave C. Related Reading: Dogecoin Sees Rapid Accumulation Amid Price Crash, Whale Transactions Soar The crypto analyst added that XRP could also retest the 2021 highs at around $2. However, he claimed that would mean that the next move is still downward, suggesting that the alternative move isn’t still bullish for XRP. He once again reaffirmed that the first scenario of XRP dropping to as low as $0.13 was likely to happen. Featured image created with Dall.E, chart from Tradingview.com
An attorney has provided insights on the impending court judgment from the United States Securities and Exchange Commission (SEC) concerning its lawsuit against Ripple. As the legal battle finally appears to be approaching its end, the attorney has outlined how the potential judgements could impact Ripple’s reputation and digital asset operations in the United States […]
In a scathing public statement today, Ripple Chief Legal Officer (CLO) Stuart Alderoty criticized SEC Chairman Gary Gensler following a recent court decision, which Alderoty highlighted as indicative of regulatory overreach. As highlighted by Alderoty, the US Securities and Exchange Commission (SEC) unlawfully rescinded a rule concerning proxy advisory firms, an action directed by Gensler […]
A crypto analyst has predicted that cryptocurrency payments company, Ripple could be the next high-valuation company, similar to Amazon and Facebook. This prediction comes as XRP witnesses poor performance amidst market volatility and Ripple’s ongoing court battle with the United States Securities and Exchange Commission (SEC). Analyst Predicts Ripple Emerging As Billion-Dollar Start-Up The host […]