Ripple (XRP)

Yesterday the crypto markets went through another bloodbath initiated once again by China. Bitcoin dumped by $4,000 in minutes but has managed to complete a partial recovery as of now. Most altcoins suffered even more, and some have failed to bounce off decisively, including ETH, which still stands below $3,000. Bitcoin’s Recovery Attempt The past few days were actually going well for the primary cryptocurrency. It had recovered from the sub-$40,000 price drop and added...

Ripple may not be the most beloved company in the crypto-verse, but its perseverance and desire to grow despite setbacks is something to be recognized. RippleX, Ripple’s branch focused on boosting the development of technologies around the XRP Ledger, has recently announced its first wave of XRPL grants, and it is embracing the NFT mania.  According to an official announcement, RippleX distributed $2 million in total value among 25 chosen applicants from 10 different...

Ethereum Ethereum is down a sharp 21% this week as the coin sits beneath $3000. The sell-off started on Monday when ETH slipped beneath the neckline of a head & shoulders pattern and the 50-day MA. Initially, the market found support at $3000 but would continue to fall beneath it on Tuesday to find support at $2770 (.786 Fib Retracement). ETH did rebound on Wednesday and Thursday as it climbed back above $3000. However, it lost another sharp 9% today, causing it to break...

Following a few days of adverse price developments, bitcoin has started to recover some value and currently sits around $45,000. Most altcoins have stalled in the same timeframe, with a few exceptions from Polkadot and Terra. Bitcoin Taps $45K The start of the week was highly damaging for the bitcoin bulls as the price of the cryptocurrency plummeted on Monday from $48,000 to around $43,000 in hours. The situation only worsened in the following two days as BTC dumped by a few...

XRP/USD – Buyers Battling To Reclaim $1. Key Support Levels: $0.95, $0.876, $0.8282.Key Resistance Levels: $1.05, $1.15, $1.25. XRP fell beneath the $1.05 floor on Monday and ended up below $1, and the 200-day MA until support was found at $0.875 (.618 Fib). This level was further bolstered by the 100-day MA level, which allowed XRP to rebound. After this, XRP went on to break the 200-day MA at $0.85 and spike back above $1. Unfortunately, the bulls have still not managed to...

The Royal Monetary Authority (RMA) – Bhutan’s central bank – has joined forces with Ripple to launch a digital version of its national currency. The institution anticipates the initiative to boost the country’s financial inclusion by 85% in the next two years. Ripple and Bhutan Shook Hands The enterprise blockchain provider Ripple announced it would enable Bhutan’s central bank to employ its network to pilot a central bank digital currency: “Today, we are proud to announce...

Litecoin price declined heavily below $180 and tested $145 against the US Dollar. LTC price is now trading below $170 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $164 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair must move above the $175 resistance to start a decent recovery in the near term. Litecoin price is recovering losses from $145 against the US Dollar, similar to...

A federal judge in New York has denied Ripple Labs’ motion to order the U.S. Securities and Exchange Commission (SEC) to produce records of its employees’ crypto transactions in an effort to prove that the agency did not consider XRP to be a security. The SEC Wins One Against Ripple According to an official transcript, Ripple filed the request on August 27. Their rationale for the request was that if it were discovered that the SEC employees had traded XRP, it would at a...

XRP/USD – XRP Loses Ground At $1 Key Support Levels: $0.875, $0.8282, $0.8.Key Resistance Levels: $1.00, $1.05, $1.14. Since the early September flash crash, when XRP fell as low as $0.95 from a high of $1.40, XRP had established a solid range between $1.14 and support at $1.05 (.5 Fib Retracement). Over the weekend, the cryptocurrency fell beneath the 50-day MA and tested the $1.05 support again. Today, the 12% price fall caused XRP to break support at $1.05 as it went on to...

Ripple price started a strong decline from the $1.12 resistance against the US dollar. The price is now trading below $1.05 and the 55 simple moving average (4-hours). There was a break below a key contracting triangle with support near $1.06 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could extend its decline below $0.9500 as long as it is below $1.12. Ripple price is showing bearish signs below $1.05 against the US Dollar, similar to...