Ripple’s XRP token had been performing very well in 2020, reaching as high as $0.34 in mid-February, before pulling back to just under $0.30. Unfortunately, it wasn’t immune to the losses which have hit virtually the entire crypto-space this week. So what could be holding it back from recovering now?
Ripple Case Not Dismissed
A federal judge in California yesterday ruled that the class action lawsuit being pursued against Ripple could not be dismissed. A group of investors are suing the company, claiming that they lost money selling XRP after being ‘tricked’ by Ripple’s promotional statements.
The judge did dismiss certain claims, but Ripple had requested that the case be thrown out entirely, due to it being filed over five years after XRP was first offered in 2013.
The investors will now get a chance to take Ripple to court for selling unregistered securities. Ripple themselves said that this “would upend and threaten to destroy the established XRP market more broadly.”
XRP Securities Status Still Unknown
Speaking of unregistered securities, the US Securities and Exchange Commission (SEC) has still not made a decision as to whether it classes XRP as a security. Should it eventually take the position that the Ripple asset is not a security, then this should also negate the class action lawsuit.
The SEC has certainly been taking its time with the decision. Back in June 2018, it classed Bitcoin and Ether as currencies and not securities, but was undecided on XRP.
At the time, some believed that a ruling by the Financial Crimes Enforcement Network (FinCEN) in 2015 allowing Ripple to continue selling XRP tokens, meant that the SEC could not then classify them as securities.
However, 20 months later and the SEC has thus far failed to come to the same conclusion.
IPO Concerns
Back in January, Ripple CEO, Brad Garlinghouse, hinted that the company was very likely to go public sometime in the next 12 months, selling shares in an initial public offering (IPO). Some felt that a move such as this was tantamount to pulling out the rug from under XRP investors and would essentially make the tokens obsolete.
If an IPO is going to happen, Ripple needs to convince investors of its commitment to XRP tokens, and the value of them going forward.
Lack Of XRP Endorsement
We’re serious. While many other cryptocurrencies have their big name fans, XRP and Ripple are more likely to find themselves at the sharp end of a put down.
As Bitcoinist reported this week, Anthony Pompliano said in no uncertain terms that he would never buy XRP in a televised interview.
BitMEX CEO Arthur Hayes famously called XRP “dogs**t” earlier this month, as his company announced it as a trading pair for perpetual swaps. And Tone Vays didn’t hold back, when he told Bitcoinist what he hates most about XRP.
Even retired UFC fighter Ben Askren felt the need to get in on the act, saying that he thought XRP was ‘a scam’.
Maybe a big name endorsement would help XRP to get moving upwards again?
What do you think are the main things holding XRP price back right now? Let us know in the comments below!
Images via Shutterstock origin »
Dormant XRP tokens reactivated, boosting liquidity and fueling renewed investor confidence.
Rising taker buy ratio reflects growing bullish dominance in XRP’s derivatives market.
On the 10The post XRP bounces 8% after drop below $2: Is the rally back on? appeared first on AMBCrypto.
Between 29 July and 30 July, XRP rallied from $0.36 to $0.40, reaching a thirty-day high. Around the same period, XRP flipped BUSD to become the sixth largest cryptocurrency in market value. As per CoThe post Can XRP traders opt for a long bet on the back of possible... appeared first on AMBCrypto.
As Bitcoin has collapsed over the past day, so too has Ripple’s XRP. Since peaking at around $0. 34 last week on the back of FOMO buying, the popular altcoin, the third-largest cryptocurrency by market capitalization, has plunged as low as $0.
Ripple’s XRP asset had a promising start of the month, rising 20% before correcting. Now however, the rally has stalled and bulls are finding it hard to break back above $0. 30. XRP, the coin hoping for global adoption, has also sparked expectations for climbing to a higher market tier.
As all cryptocurrencies try to reclaim some of their recently lost value, things will undoubtedly get very interesting later today. For XRP, the losses have piled up significantly over the past 36 hours.
XRP has appreciated approximately 20% over the past 24 hours. XRP had a stellar performance last week moving from $0. 27 to a high near $0. 80. With a turnaround occurring across the market, XRP was no different and dropped back down to $0.
Alongside the news that Coinbase will now be listing as many tokens as they can possibly get hold of, XRP is absolutely skyrocketing. After a positive week, led by news of a pending xRapid launch, XRP has made incredible progression.
FOMO Moments Markets still falling back; XRP up but Ethereum still in pain. Crypto markets are still bearish today following yesterday’s 15 billion dollar dump. What seemed to be signs of another small rally ended a few hours ago when markets turned south once again.
Ripple’s market has been making waves with double digit movements. Trading at $0. 53 at the time of writing, the XRP price dipped to a low of $0. 44 before catapulting back up above the $0.
FOMO Moments Markets are bleeding once again; XRP, Stellar, Cardano and Siacoin getting smashed. As we have seen before the same pattern has resumed and the market rally could not be sustained. Cryptocurrencies have dumped again today wiping out all gains over the past few days.
Ripple (XRP) investors have seen some massive returns on investment these past few weeks but there are reasons to believe that this rally is not over yet. Ripple (XRP) had to retrace after an aggressive rise from $0.
Ripple’s XRP coin price is rising so quickly that the sudden price movement is really starting to rouse snoozing crypto-enthusiasts. At the time of writing XRP is up 100% over the last seven days and Friday, September 21, XRP shot to a peak of $0.
Things aren’t looking very rosy for Ethereum (ETH) right now as it just briefly lost its market position to Ripple (XRP). In the last few hours, XRP attained a market cap huge enough to blow past ETH and grab position 2 – right behind Bitcoin.
For the first time since February 2016 Ripple is back into number #2 position on the Coinmarketcap league table, overtaking Ethereum’s market capital by $3 billion.
Rolling back only a week ago when Bitcoin BTC was plunging around $6,200, EthereumWorldNews covered a piece in which it was highlighted how a twitter user also crypto-enthusiasts believes that the bearish trend is over as the same -85% drop of 266 days occurred in 2014.
Ripple price rallied recently and broke the $0. 3120 resistance against the US Dollar. XRP/USD is now placed nicely in a positive zone and it could move past $0. 3400. Key Talking Points Ripple price broke a crucial resistance at $0.
FOMO Moments Markets have recovered slightly; XRP, Cardano, Tron and Chainlink on a roll. Crypto markets have recovered slightly following yesterday’s ten billion dollar dump. Total capitalization has inched slowly back towards $200 billion and is about to break it.
Ripple (XRP) has slowed down after an aggressive climb last week. The price has now formed a triple top as seen on the XRP/USD 4H chart above. This is a very strong resistance which is unlikely to be breached at this point.
Less than 24 hours ago, Ethereum World News reported that XRP HODLers were getting frustrated due to their favorite digital asset declining in the crypto markets. XRP has declined by over 90% since its all time high value of $3.
Many cryptocurrency investors might have bought in during the Bull run of late December last year to early February this year. As a result, they purchased their investments when some digital assets were at their all time high.
A year-old legal battle between two of the crypto industry’s leading organizations is coming to a close. After a volley of countersuits that had the companies jumping from courthouse to courthouse, Ripple and R3 have brokered a settlement that will put the drama to rest.
The cryptocurrency market has turned back to sharp downward movements after a bullish week was priced in last week. XRP’s price has undergone sharp corrections this year amid the prolonged bear market.
Ripple price nosedived and broke the $0. 3100 range support against the US Dollar. XRP/USD is likely to extend the current decline back towards the $0. 2400 low. Key Talking Points · Ripple price declined heavily after it broke the $0.
Ripple is back to consolidation mode as it is currently stuck inside a symmetrical triangle on the 1-hour chart.
The post Ripple (XRP) Price Analysis: Another Consolidation Pattern appeared first on Ethereum World News.
Institutional investment, high level investment from corporations and organisations that have a lot of money to spend. The benefit of this? Huge sums of money flooding into the markets. The draw back? None that we can think of just yet.
Ripple Price Key Highlights Ripple has been on a tear but is currently hitting a roadblock at the top of its 1-hour range. If the ceiling keeps holding, price could slide back to the bottom or the mid-range area of interest.
Throughout today, the markets have finally started making positive movements, off the back of what thus far has been a very positive week. Granted, as we write this things could change and by the time you get to read this, Bitcoin could be back to $6,500.
TokenPay have been on fire recently, making the most of their social media pages to literally lay into their rivals. It’s brave, but if they think they are the best, they might as well try and flaunt it right?
After flogging XRP and NEO very recently, TokenPay have now decided to tap into the Bitcoin debate.
FOMO Moments Markets slowly recovering this weekend; XRP, EOS, Neo and Tron climbing back, VeChain falling slightly. The slow creep upwards has continued into the weekend as cryptocurrencies add more gains following their lowest levels of the year.
You might look at XRP at the moment and shudder, especially if you bought in during the cryptocurrency boom when XRP exceeded $2. 00. Yesterday, we covered a story about CNBC’s Fast Money, which back in January ran a piece about XRP investment, urging new investors to buy in at $2.
The XRP community was excited when the eagerly awaited VCTRADE by the SBI Holdings company, opened new account registrations on July 17th this year, for users who did not participate in the pre-registration process back in October last year.
Its August 2018. Ripple have certified that their currency, XRP is a cryptocurrency not bound to them by rebranding XRP, as XRP. Ripple are riddled with lawsuits and Coinbase still won’t list XRP.
Technically, XRP prices are breaking off the 40 day horizontal consolidation and retesting the lower limit of our 5 cent trading zone at 40 cents. Because of this and the way our XRP trade plan dictates, we suggest selling at every pull back with first targets at 30 cents and later 15 cents—our ultimate level.
The beauty of social media is that you get brilliant ideas from the fans of our favorite digital assets. In this case, twitter user @WillyWonkaXRP highlighted a summarized plan of how the Ripple company intended on making XRP and its other Ripple products great, back in 2017.
This weekend has marked a strong negative start to August. This came off the back of a promising start to the week that really seemed to inject an air of positivity back into the community. The weekends negative movements however have done a great job of sucking the optimism out of us all.
Is it correction, or is it something else? Is this trend just what we need to get used to for August too? The markets are down once again, except this time, the major cryptos are taking big leaps downwards.
Cryptocurrencies remained downbeat on Friday, December 5, with sentiment deteriorating across leading assets. Meanwhile, the latest ETF flow stats confirm this weakness, with Bitcoin and Ethereum exchange-traded products struggling as new products attracted fresh funds.
Ripple (XRP) seems to have lost steam after recording gains over the past two days. The second-largest altcoin by market cap is trading at around $2. 17, with the bulls pushing to regain control of the trend.
Bitcoin traded just above $93,416 on Thursday as expectations mounted that the US Federal Reserve would cut interest rates next week. During the morning session, the cryptocurrency dipped to $92,612 before climbing to an intraday high of $94,002, reflecting renewed momentum after several weeks of turbulence.
Crypto markets staged a major turnaround on Tuesday as traders reacted to rising expectations of US interest-rate cuts and a surge in spot Bitcoin ETF activity following Vanguard’s decision to end its ban on Bitcoin ETF purchases.
The cryptocurrency market kicked off December with a downbeat mood as negative sentiments prevailed. At the same time, yesterday’s inflows data confirmed a divided landscape among leading spot exchange-traded funds (ETFs), which have become the primary indicator of institutional appetite in digital currencies.
The cryptocurrency market experienced a dip on Monday but instantly bounced back. Bitcoin briefly dropped to the $84k level but is now trading above $86k per coin. XRP, Ripple’s native coin, also dipped on Monday, but the $1.
