At a recent online conference held by the Japanese online retailer Rakuten, new technologies and means of payment such
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XRP Price has witnessed consolidation between the $0.30 and $0.37 mark for a considerable number of trading sessions. Over the last 24 hours, the altcoin has managed to hover around the same price mark without losing its market value. In the past week, XRP price has lost 2% of its value. Lateral trading had caused buying strength of the coin to be be affected. For the bulls to take charge, it is important for XRP to break past its sideways trading. XRP had formed higher highs and higher lows at the end of July. The bulls don’t seem to be able to push past the $0.37 mark. This could be pointed towards the lack of demand for XRP. The $0.37 mark has been a propelling point for the altcoin’s price, however, the bulls could not hold on to the momentum even then. With Bitcoin receding on its chart, many altcoins have also followed the same sentiment on their respective charts. Demand and broader market strength remain crucial for XRP. XRP Price Analysis: Four Hour Chart The altcoin at the time of writing was trading for $0.37. XRP had witnessed sharp resistance at the $0.39 price ceiling. Incase XRP price manages to topple over the $0.39 level, there could be a possibility for a rally. Additional resistance mark for the coin was at $0.40. The local support for XRP rested at $0.34. A fall below the $0.34 level will cause XRP to trade at $0.31. Amount of XRP traded over the last session had increased as the sellers were dominating the price action. Technical Analysis A continued sideways trading with XRP price oscillating between $0.30 and $0.37 has pushed buyers out of the market slowly. The technical indicator for the coin displayed that. The Relative Strength Index was below the zero-line because sellers were more compared to buyers in the market. It was a sign of bearishness. XRP price was pictured below the 20-SMA line which again is a sign of the bears resurfacing as the sellers were driving the price momentum in the market. Related Reading: Outflows Rock Bitcoin As Institutional Investor Sentiment Starts To Turn The fall in buying strength gave rise to sell signal for the altcoin at the time of writing. The indication of the sell signal meant that the bearishness was still prevailing. The Moving Average Convergence Divergence tells the price momentum with possibility of reversals. MACD witnessed bearish crossover and formed the red histograms which are related to the sell signal. Bollinger Bands indicate the price volatility, thereby, pointing towards chance of price fluctuation. The bands became broader which meant that XRP price could witness upcoming price volatility. Related Reading: XRP Sluggish At Resistance – Will It Break Out After 2 Months Of Vertigo? Featured image from UnSplash, chart from TradingView.com
Per a report from news outlet Reuters, payment company Ripple is exploring the possibility of acquiring the assets of bankrupt crypto lender Celsius Network. The purchase might materialize via Ripple Labs, according to a company spokesperson. Related Reading: SEC/CFTC May Require Hedge Funds To Provide More Information On Crypto Exposure Ripple Labs is currently in […]
Ripple (XRP) is in bearish mode and was down 1.93% as seen overnight. Moreover, Ripple has recently freed up over 1 billion XRP tokens coming from two separate escrow wallets. Currently, the crypto trades at $0.38 on the biggest spot exchanges. Ripple has evidently locked over 55% of XRP’s total supply in escrows way back 2017. Analysts believe that its bearish sentiment or weakness is relevant to Bitcoin’s failure to surpass the $24,000 mark as opposed to the controversial unclasping of new tokens that happened recently. In effect, Ripple is trying to restore most of the tokens that they’re sending to escrow. Additionally, unlocking of the new tokens happen every first day of the month and has no effect whatsoever on XRP price. In spite of the misunderstanding, most of these tokens won’t necessarily swamp crypto exchanges. Ripple Sold Over $408 Million Of XRP In Q2 To date, Ripple has sold roughly $408 million of XRP in Q2. The recent success or increase in sales is attributed mainly to On-Demand Liquidity Service picking up steam. Jed McCalbe, Co-Founder of Ripple, has sold the rest of his XRP tokens the previous month which means his letting go of XRP and won’t be able to support or add to Ripple’s selling momentum. According to CoinMarketCap, as of press time, XRP’s total circulating supply is at 48.3 billion tokens. On July 30, XRP price has skyrocketed by 13% on July 30 and held on to the liquidity that snuggled right above the highs spotted at $0.387. The recent upturn was exceptional but fell short in terms of momentum. In effect, XRP price ducked and splitting gains. Further Downtrend Looms For XRP The four-hour candlestick was seen to close just below the support zone of $0.381 which indicates further downturn. In any case, investors should foresee XRP price to reopen at the support level of $0.340. On the flip side, if XRP price can stay afloat or above $0.381, then that validates this position as a support level. Further, this also rescinds the bearish perspective. When this happens, the XRP price can potentially pave the way to revisit the resistance zone spotted at $0.439. On June 22, Ripple Labs announced the launch of their new office in Toronto, Canada plus plans on hiring initially around 50 engineers with plans to hire 100 to 200 staff down the line. Brad Garlinghouse, Ripple Labs CEO, was ecstatic as seen in the video posted on Ripple’s Twitter page, describing Toronta as a hub for “excellent engineering talent.” XRP total market cap at $17.7 billion on the weekly chart | Source: TradingView.com Featured image from Ripple Coin News, chart from TradingView.com
XRP has won their right to retain their Amici status, this is a major relief to XRP holders. Judge Torres has denied SEC’s motion to revoke the amici status. Apart from that, Judge Torres has also barred attorney John E Deaton from further proceedings. According to the letter, “Amici can’t participate in the expert challenge […]
Ripple co-founder Jed McCaleb has finally unloaded his XRP on the market. McCaleb has been dumping the cryptocurrency since 2014 when he obtained 9 billion as compensation for his work in the payment company. Related Reading | Bitcoin Is ‘Here to Stay,’ Ex-BlackRock Investment Adviser Says – Better Than Gold? McCaleb parted ways with Ripple in […]
Ripple Labs co-founder Jed McCaleb realized at least $3.14 billion in gains from the sale of 5.7 billion XRP tokens over the last eight years, according to crypto tracking tool Whale Alert.
The post Ripple Founder Jed McCaleb Pocketed $3.1B in ‘Mind Blowing’ Gains From XRP Sales appeared first on BeInCrypto.
The legal dispute between the U.S. Securities and Exchange Commission and Ripple Labs Inc., an innovator in blockchain technology based in San Francisco, continues to witness new twists and turns. Just last week, Ripple’s attorney John E. Deaton submitted a petition to reject the regulator’s attempts to seal the company’s rebuttal to the Amici Curiae. […]
Ripple, a prominent provider of blockchain and cryptocurrency solutions, announced on Thursday the opening of a new office in Canada. In the face of the ongoing massive selloff and job cuts in the cryptocurrency market, the San Francisco-based crypto startup is still eyeing expansion, unfazed by the instability. Ripple plans to employ 50 engineers for […]
As the Ripple community braces for the major ruling on the key judgement on the Hinman 2018 documents, Ripple Labs has scored another victory as presiding judge Analisa Torres denied the SEC’s petition to seal its objection to Amici participation. According to a tweet posted by defense lawyer James Filan, Torres has rejected the SEC’s request to seal the case […]
Ripple, the crypto solutions company shall commit $100M for the goal of carbon removal by investing in climate oriented fintech companies. The blockchain-based payments network has aimed to facilitate the acceleration of carbon removal technology in order to bring about modernization of the carbon markets. Carbon markets will let companies and individuals trade carbon credits […]
