XRP’s recent price action has been lackluster to say the least, with its notable surge up to highs of $0.35 being met with significant resistance which, coupled with the bearishness seen across the aggregated crypto market, led it to see a notable retrace.
The cryptocurrency now appears to be in a precarious position, as it is currently caught within a bearish technical pattern that could lead it significantly lower in the near-term.
This, coupled with the fact that the crypto is expressing multiple bearish technical signs, seems to suggest that further losses could be imminent.
XRP Consolidates Around $0.27 as Analysts Eye a Bearish Head and Shoulders Pattern
At the time of writing, XRP is trading own over 1% at its current price of $0.27, which marks a notable decline from its weekly highs of $0.32 that were set earlier this week.
From this point, the crypto saw some choppy trading before moving up to highs of $0.31 on Wednesday, which is when the aggregated crypto market saw an intense selloff that was sparked by Bitcoin’s flash crash from $10,200 to $9,200.
Peter Brandt, a veteran trader and highly respected analyst, spoke about XRP in a recent tweet, explaining that it is a possibility that the crypto is forming a bearish head and shoulders top, which could lead it as low as $0.20 in the near-term.
“It will be interesting to see if this H&S top plays out. If so, the target would be .2071. This Tweet poses a possibility. This is not a prediction,” he explained while pointing to the chart seen below.
It will be interesting to see if this H&S top plays out. If so, the target would be .2071.
This Tweet poses a possibility. This is not a prediction. pic.twitter.com/IJiMR2AEnV
— Peter Brandt (@PeterLBrandt) February 20, 2020
These Technical Factors Also Suggest Further Losses Could be Imminent
The bearish head and shoulders pattern Brandt references isn’t the only thing currently counting against XRP, as there is a myriad of other technical factors that suggest further losses could be imminent.
Cold Blooded Shiller – a prominent cryptocurrency analyst and trader – spoke about these factors in a recent tweet, pointing to growing resistance and its recently formed lower high as two of these factors.
“Isn’t XRP just the easiest HTF short right now? Weekly lower high. Weekly SFP. Weekly Resistance. What am I missing aside from pure hopium?”
Isn't $XRP just the easiest HTF short right now?
Weekly lower highWeekly SFPWeekly Resistance
What am I missing aside from pure hopium? pic.twitter.com/CfkdQMwwrX
— Cold Blooded Shiller (@ColdBloodShill) February 22, 2020
It is probable that XRP’s price action will be somewhat dependent on that of Bitcoin, as any further BTC downside would likely confirm this bearishness and potentially lead XRP and other altcoins to see significantly further losses.
Featured image from Shutterstock. origin »
The pullback in prices after token movement was weaker than a few months ago.
The bullish sentiment in the market could see XRP, and MATIC break the weekly resistances.
Ripple [XRP] and PolyThe post Why XRP, MATIC are most likely to see a price correction now appeared first on AMBCrypto.
XRP has been closely tracking Bitcoin and the other major altcoins throughout the past few days. Although this helped provide it with some slight momentum earlier this week, it has since caused it to see some notable downside, as the aggregated crypto market is beginning to show some signs of weakness. That being said, there […]
XRP investors witnessed some bearish price action earlier this week when the cryptocurrency plummeted from highs of $0. 34 to lows of $0. 28, which is where it was able to find some strong support that allowed it to reclaim its position above $0.
XRP, like most major altcoins, has seen an intense selloff today that has been primarily driven by Bitcoin’s decline to lows of $9,500, with the benchmark cryptocurrency’s downtrend accelerating in the time following its violent break below $10,000.
Last week, the market began to overheat as greed took hold. Ethereum, XRP, and Litecoin saw losses in the subsequent sell-off. Indicators show further declines. Ether Prepares for Further Drop...The post Ethereum, XRP, and Litecoin Could See Further Decline appeared first on Crypto Briefing.
The crypto markets are currently caught within an intense uptrend that echoes the feeling of the early stages of the 2017 rally, with altcoins like XRP and others following Bitcoin’s lead and posting massive gains on a daily basis.
XRP and all other cryptocurrencies just closed out their weekly candles a couple of hours ago, with today’s close being widely viewed as a critical event that would offer significant insight into where the markets...
Despite seeing a year of consistent losses and heavy selling pressure in 2019, the new year has been great for XRP so far, with the crypto posting massive gains alongside its competitor Stellar Lumens (XLM).
Mike Novogratz Bitcoin bull and CEO of one of the biggest players in the crypto world Galaxy Digital might have said a room full of financial advisors that after losing 95% of its value from an all-time high, XRP would “underperform immensely again this year,” he wants to see Ripple succeed. After all, Galaxy Digital […]
BitMEX and Binance, two of the largest cryptocurrency trading platforms, have both added XRP/USD perpetual swap products. This could entail an increase in XRP liquidity via derivatives. Spot markets for XRP are already highly liquid thanks to GSR, the market maker hired by Ripple Inc, February 4, 2020.
XRP traders are anxiously awaiting whether or not a massive transfer will shake up the markets. Some 68. 5M coins were recently deposited onto the Bybit cryptocurrency exchange. One XRP whale is offloading a large number of their holdings, leaving many wondering whether we can expect to see a significant sell-off in the near future.
It’s no secret that XRP has a track record of seeing incredibly poor performance over the past several days and weeks, with the embattled crypto posting fairly consistent losses throughout 2019 while struggling to match the massive gains seen by many other major altcoins in 2020.
Although XRP was one of the worst performing major altcoins in 2019, the crypto was able to incur some notable momentum throughout the past month that has allowed it to gain what appears to be a stable foothold within the $0.
In a recent episode of Boom Bust, anchor Christy Ai, stated that we’re “expected to see a major devaluation” of Ripple’s XRP asset, following a discussion about the company’s IPO announcement.
The top five cryptocurrencies by market cap need no introduction. And if you see, out of the top 5, Ripple, or the XRP, was the least talked about cryptocurrency for a very long time, because it is a cryptocurrency specifically designed for banks.
XRP is currently positioning itself to be the dark horse of 2020, as the embattled token is now setting itself up to see massive near-term upside, which comes mere weeks after it closed 2019 with YTD losses of over 40%.
Over the past seven months, analysts have been wondering when the crypto market is going to revert back to a bull phase. Related Reading: Ripple CEO: These 3 Key Reasons Are Why XRP is Not a Security You see, when Bitcoin started rallying from $4,000 higher in early-2019, analysts and investors thought this was the start... The post appeared first on NewsBTC.
Ripple continues to make progress across Asia. Its latest venture focuses on providing low-cost cross-border payments to clients across Thailand. Various enterprises see merit in Ripple and its XRP ledger technology.
2019 proved to be a positive year for the aggregated cryptocurrency markets, with Bitcoin posting a stunning surge of nearly 100%, while altcoins had mixed performance, with Ethereum (ETH) dropping marginally while XRP posted a massive 45% drop.
The third-largest cryptocurrency XRP is down 95% from its all-time high of $3. 92. And according to the majority of the voters to the Mati Greenspan, founder of investment firm Quantum Economics’ poll, the digital asset isn’t ever going to $1.
The precarious nature of Bitcoin’s recent price action does not lend itself to helping generate bullish price action amongst major altcoins, but one prominent analyst is noting that he believes Ethereum, XRP, and Bitcoin Cash are all decently positioned to see further upside against their USD trading pairs in the near-term.
Even though it has been a rough year for XRP, the asset was one of the top performers in 2017, during the last major bull run. The question is then debated as to whether XRP could ever see this kind of performance again, with mixed opinions for and against.
While all eyes have been on Bitcoin as of late, it may be time to pay XRP some heed. A top analyst recently noted that the popular altcoin is on the verge of seeing a bout of strong volatility, with the tug-of-war between both bulls and bears heating up on both sides, creating tighter and.
Coinspeaker Ripple Releases $1B XRP from Escrow WalletThis month’s release of funds means that another $220 million worth of XRP is available for Ripple to use as they see fit.Ripple Releases $1B XRP from Escrow Wallet
Bitcoin has been incurring some decent upwards momentum in the time since it visited $6,500, which has allowed major altcoins like XRP to similarly put some distance between their current prices and their recent lows.
Most major altcoins in the likes of Ethereum and XRP have already retraced to 2017 levels. As Bitcoin gears towards a bearish short term trend, investors remain divided on whether altcoins will continue their recovery or begin to see weakened momentum.
The Swell conference, which is arguably the most important Ripple conference of the year, was held in Singapore on November 9-11. During the previous two conferences in 2017 & 2018, the price increased significantly in anticipation of the event.
Stellar Lumens or XLM has been soaring up since last Christmas day, and only in the past 24 hours, it’s been up another 65%, approaching the $1. 00 level versus the USD. If you look closer you will see that Stellar Lumens is very similar to Ripple (XPR).
Ripple’s XRP not only failed to rally during the highly anticipated Swell conference this year, but actually sank by 16% shortly after. But can the price recover, or will see the asset slump even further? XRP Eyes $0.
After a brief period of trading above its long-established resistance level at $0. 30, XRP has once again fallen back into the upper-$0. 20 region, which may mean that it is in for an extended bout of sideways trading.
Brad Garlinghouse, the CEO of San Francisco-headquartered Ripple has responded to the growing criticism of XRP given the third-largest altcoin has failed to see a significant price rally in 2019 even when the market recorded double-digit growth.
The cryptocurrency market exhibited some major upswings this week with the pricerising over 10% for most cryptos. Let’s take a look at our select cryptocurrencies BCH, NEO and XRP and see what the charts have in store for us.
The XRP digital coin, distributed far and wide by Ripple, Inc. , is among the most talked-about assets on social media. But despite the highly active community, and the millions of coins given away, XRP is stuck beneath $0.
Saturday, so far, has been a relatively neutral day for the cryptocurrency market. Bitcoin, Ethereum, and a majority of other large caps saw effectively zero losses or gains on the day, while trading volumes across the board tanked.
The top five cryptocurrencies by market cap need no introduction. And if you see, out of the top 5, Ripple, or the XRP, was the least talked about cryptocurrency for a very long time, because it is a cryptocurrency specifically designed for banks.
XRP, the third-largest cryptocurrency by market cap, has had quite a forgetful year. On one hand, other altcoins, despite not making any stellar progress, did manage several bullish price movements from time to time in 2019.
This week has been an exciting one for Ripple and XRP as the company announced a number of partnerships and other developments. While Ripple (XRP) is currently trading at $0. 25 cents with a market cap of $11.
XRP’s price rejoiced in the bullish waves from early September. However, that growth was obstructed by the bear attack. Despite the fall, the price of XRP did see some upward movement as it neared the breaching of an imminent bullish pattern.
“We do not see crypto as replacing fiat. ” Breanne Madigan, Head of Global Institutional Market at Ripple said at The OECD Global Blockchain Policy Forum 2019. In the finance session, Madigan stated that Ripple was inclined toward interoperability and that “replacing fiat” was not their goal.
Ripple CEO, Brad Garlinghouse is a confirmed keynote speaker at this year’s DC Fintech Week. Although the agenda precludes XRP price, many see this as a further opportunity for Garlinghouse to address concerns over XRP dumping, which some attribute to price stagnation in the divisive token.
XRP bagholders: Ripple is to blame for XRP dumping Petition to “Stop Ripple dumping” & also to “Increase the “Dumping” of XRP” Ripple Not Going to Stop Dumping XRP Anytime Soon Are we going to see a “Swell Pump by Ripple” again this year? The third-largest cryptocurrency last week was worth less than a quarter. […]
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.
Coinbase stock (NASDAQ: COIN) plummeted 5% in pre-market trading on Monday, as the crypto sector entered December under assault. Bitcoin shed more than 5% to trade below $86,600, while Ethereum collapsed 5.
