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 […]
XRP has shown notable signs of renewed bullish momentum in the market. It bounced back from a significant 11% price drop on April 12th, which took the token to its lowest level of the year at $0.4230. However, last week saw a solid 12% price recovery, with XRP outperforming the other top 10 altcoins in the market, behind only Solana (SOL) and Binance Coin (BNB). Signs Of A Strong Bullish Trend Ahead For XRP? On Tuesday, XRP hit a high of $0.5571, demonstrating its bullishness and outperforming its peers. This resurgence was paired with a spike in wallet activity, a positive sign for the token’s overall market sentiment. According to the network intelligence platform Santiment, the number of wallets holding at least 1 million XRP has steadily increased over the past six weeks, rising by 3.1%. It is now just one wallet away from reaching an all-time high (ATH). Related Reading: Standard Chartered Reaffirms $150,000 Bitcoin Price Target By Year-End In addition, crypto analyst Ali Martinez reported a notable buying spree among XRP whales, who purchased over 31 million tokens in the past week alone. This has contributed to the cryptocurrency’s price recovery, emphasizing renewed confidence in its uptrend prospects. Regarding price action, market analyst Egrag Crypto points out that XRP has formed a double bottom pattern, considered a strong bullish signal. This pattern, combined with the transition of the consolidation zone into a supply zone and the wicking area into a demand and accumulation zone, indicates a promising outlook for the token, according to the analyst. Egrag Crypto is confident that a significant price spike or “thrust” is imminent, and the analyst has updated his target to $1.4 for XRP. Critical Resistance Levels To Watch Despite initial bullish outlooks for XRP, the token has retraced to the $0.5474 price level as of the time of writing, accompanied by a 14% decrease in market capitalization over the past 30 days. Moreover, as XRP aims to reach higher levels, potential resistance barriers may impede the token’s recovery and the bullish trend. Analyzing the XRP/USD chart below reveals the immediate resistance at $0.5644, which has prevented consolidation above current levels for the past week. Related Reading: The Cardano $1 Dream: Is A Price Explosion Coming Or Just Deja Vu? After that, the final obstacle before a retest of the $0.600 zone lies at the $0.5884 level. This level previously served as a support floor for the token, leading to a rebound during the uptrend seen in March, which took XRP to its yearly high of $0.745. Conversely, monitoring the support levels at $0.52910, $0.5184, and $0.5044 is crucial. If a bearish scenario develops in the coming days, these levels may prevent XRP from falling below $0.500. Featured image from Shutterstock, chart from TradingView.com
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
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
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 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
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
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
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
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 […]
XRP price is holding gains above the $0.60 zone. The price could gain bearish momentum if there is a close below the $0.570 support zone. XRP is facing a major hurdle near the $0.6580 zone. The price is now trading below $0.640 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.640 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 $0.5720 support. XRP Price Faces Uphill Task After a steady decline, XRP price found support near the $0.5720 level. A low was formed at $0.5714 and the price started a fresh increase, like Bitcoin and Ethereum. There was a move above the $0.5880 and $0.600 resistance levels. The price cleared the 23.6% Fib retracement level of the downward wave from the $0.7442 swing high to the $0.5714 low. The bulls pushed the price above the $0.620 resistance zone, but the bears are active near $0.640. Ripple’s token price is now trading above $0.6320 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.640 zone. There is also a key bearish trend line forming with resistance near $0.640 on the 4-hour chart of the XRP/USD pair. The next key resistance is near $0.6580. It is close to the 50% Fib retracement level of the downward wave from the $0.7442 swing high to the $0.5714 low. A close above the $0.6580 resistance zone could spark a strong increase. The next key resistance is near $0.700. If the bulls remain in action above the $0.700 resistance level, there could be a rally toward the $0.7440 resistance. Any more gains might send the price toward the $0.800 resistance. More Losses? If XRP fails to clear the $0.640 resistance zone, it could start another decline. Initial support on the downside is near the $0.600 zone. The next major support is at $0.5720. If there is a downside break and a close below the $0.5720 level, the price might accelerate lower. In the stated case, the price could retest the $0.5250 support zone. Technical Indicators 4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.600, $0.5720, and $0.5250. Major Resistance Levels – $0.640, $0.6580, and $0.700.
Former founder and chairman of Murphy and McGonigle law firm James A. Murphy, also known as MetaLawMan, has delved into the legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC), offering his perspective on the bigger argument in the case. Bigger Argument Within The Ripple Vs. SEC Case James Murphy revealed […]
XRP price found support at $0.5680 and started a fresh increase. The bulls are now aiming for a move toward the $0.700 resistance. XRP found support near $0.5680 and started a recovery wave above $0.60. The price is now trading above $0.620 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance at $0.610 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh rally if there is a close above the $0.6560 resistance zone. XRP Price Regains Traction After a major decline, XRP price found support near the $0.5680 zone. A low was formed at $0.5684 and the price started a fresh increase, like Bitcoin and Ethereum. There was a move above the $0.580 and $0.600 resistance levels. The price cleared the 23.6% Fib retracement level of the downward move from the $0.7440 swing high to the $0.5684 low. There was also a break above a key bearish trend line with resistance at $0.610 on the 4-hour chart of the XRP/USD pair. Ripple’s token price is now trading above $0.620 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.6560 zone. It is close to the 50% Fib retracement level of the downward move from the $0.7440 swing high to the $0.5684 low. Source: XRPUSD on TradingView.com The first key resistance is near $0.700, above which the price could rise toward the $0.7440 resistance. A close above the $0.7440 resistance zone could spark a strong increase. The next key resistance is near $0.7650. If the bulls remain in action above the $0.7650 resistance level, there could be a rally toward the $0.800 resistance. Any more gains might send the price toward the $0.820 resistance. Another Decline? If XRP fails to clear the $0.6560 resistance zone, it could start another decline. Initial support on the downside is near the $0.630 zone. The next major support is at $0.600. If there is a downside break and a close below the $0.600 level, the price might accelerate lower. In the stated case, the price could retest the $0.5680 support zone. Technical Indicators 4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.630, $0.600, and $0.5680. Major Resistance Levels – $0.6560, $0.700, and $0.7440.
In the XRP lawsuit between Ripple Labs Inc. and the US Securities and Exchange Commission (SEC), the parties have submitted a joint sealing proposal to the United States District Court for the Southern District of New York. This proposal, aimed at governing sealing issues for the upcoming remedies-related briefing, underscores both parties’ commitment to transparency […]
XRP price started a downside correction from the $0.7450 resistance. The bulls are now struggling to keep the price above the $0.5850 support zone. XRP started a fresh decline after it failed to clear the $0.7450 resistance. The price is now trading below $0.650 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance at $0.640 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh rally if there is a close above the $0.6650 resistance zone. XRP Price Trims Gains After a steady increase, XRP price struggled to extend gains above the $0.750 resistance. The price started a downside correction from the $0.7442 high, like Ethereum and Bitcoin. There was a steady decline below the $0.700 and $0.665 support levels. The price even declined below the $0.600 support. A low was formed near $0.5874 and the price is now consolidating losses. There was a minor increase above the $0.620 level. The price spiked above the 23.6% Fib retracement level of the downward move from the $0.7442 swing high to the $0.5874 low. However, the bears were active near $0.650. There is also a key bearish trend line forming with resistance at $0.640 on the 4-hour chart of the XRP/USD pair. Ripple’s token price is now trading below $0.620 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.640 zone. The first key resistance is near $0.6650 or the 50% Fib retracement level of the downward move from the $0.7442 swing high to the $0.5874 low, above which the price could rise toward the $0.70 resistance. Source: XRPUSD on TradingView.com A close above the $0.70 resistance zone could spark a strong increase. The next key resistance is near $0.7450. If the bulls remain in action above the $0.7450 resistance level, there could be a rally toward the $0.800 resistance. Any more gains might send the price toward the $0.820 resistance. More Losses? If XRP fails to clear the $0.6650 resistance zone, it could start another decline. Initial support on the downside is near the $0.5980 zone. The next major support is at $0.5850. If there is a downside break and a close below the $0.5850 level, the price might accelerate lower. In the stated case, the price could retest the $0.520 support zone. Technical Indicators 4-Hours MACD – The MACD for XRP/USD is now gaining 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 – $0.5980, $0.5850, and $0.5200. Major Resistance Levels – $0.640, $0.6650, and $0.700.
Despite XRP lagging in this early stage of this bull run, crypto expert Zach Rector has shared his belief and given reasons why the crypto token is still bound to perform well. He went as far as ranking the token up there with Bitcoin to drive home his point on why the token will make a run soon enough. “XRP Will Not Miss This Bull Run” Rector mentioned in an X (formerly Twitter) post that XRP will not miss this bull run. In the accompanying video, the crypto expert highlighted the crypto token’s fundamentals as one of the reasons he holds this belief despite XRP’s tepid price action. Rector further claimed that the token and XRP Ledger (XRPL) have some of the best fundamentals in the crypto space. Related Reading: Dogecoin Influencer Sounds Critical Warning Alarm For Scams Targeting The Community Rector even challenged his followers to mention any other crypto token with a better fundamental than XRP. According to him, Bitcoin is the only other token that comes close to XRP in that regard. His statement echoes the sentiments of Ripple’s CEO Brad Garlinhouse, who recently stated the importance of real-world utility in driving a crypto’s growth. Meanwhile, Rector alluded to XRP’s recent pump as a sign of the great things to come for the crypto token. On March 11, XRP climbed to as high as $0.74 before seeing a sharp correction. However, the community will hope Rector’s conviction is correct, considering that XRP didn’t make any significant statement in the 2021 bull run. As Rector noted, community members’ faith in the token is fast waning, and there is a belief that a repeat of the altcoin’s sluggish 2021 run will ultimately erode this faith. XRP getting close to or surpassing its all-time high (ATH) of $3 will be a great place to start if it is to make a run in this bull run. Time For Price Predictions To Come True Crypto analysts like Crypto Rover and Egrag Crypto had before now made bullish price predictions for XRP, which are meant to be actualized sometime around this period. On his part, Crypto Rover predicted that the altcoin would see a “massive breakout” this March. Meanwhile, Egrag predicted that XRP will rise to $5 between now and April. Related Reading: Samson Mow Gives Reasons Why Bitcoin Price Could Reach $1 Million This Year Other analysts like Dark Defender have also fuelled expectations for XRP this period. Dark Defender, in particular, recently stated that the next target for toke is the $1.33 price mark and that the $1.88 and $5.85 Fibonacci targets could be attained in the upcoming weeks. At the time of writing, XRP is trading at around $0.686, down over 1% in the last 24 hours, according to data from CoinMarketCap. Token price at $0.68 | Source: XRPUSDT on Tradingview.com Featured image from Bitcoin News, chart from Tradingview.com