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The crypto market is in the green today. XRP has experienced a price increase along with the largest cryptocurrencies. However, the bearish trend will not be reversed until the price breaks out of the three-month consolidation.
Technical Analysis
By: Grizzly
The Daily Chart
XRP has technically formed a bullish structure in the last fifty days. This structure is confirmed by the formation of higher highs and higher lows. Even so, the price is still flirting below the key resistance zone (in white). This zone is in the range of $0.41 to $0.47.
Likewise, the Relative Strength Index (RSI) is about to touch the descending line (in red) for the third time in the last two weeks. In the event that the RSI can break the resistance and move above 70 while the bulls simultaneously drive the price above the resistance zone, the bearish sentiment will likely fade in the short term. The buying pressure will probably increase. In this scenario, the pair can extend to the target of $0.55.
Contradicting this assumption, if the RSI cannot overcome the red resistance similar to August 2021 and February 2022 (vertical red line), the bears will gain the upper hand in the market. It can drag XRP down to $0.33.
Considering that the bulls hold their ground, the resistance zone is expected to be retested. It remains to be seen whether the bears will retreat there.
Key Support Levels: $0.33 & $0.30
Key Resistance Levels: $0.41 & $0.47
Daily Moving Averages:
MA20: $0.36
MA50: $0.34
MA100: $0.38
MA200: $0.56
Source: TradingView
The XRP/BTC Chart
Against Bitcoin, the price is moving down inside a falling wedge (in yellow). The pair have hit this wedge top three times in the last 45 days, but the bears are defending it aggressively. On the other hand, the horizontal support at 1500 SATs (in green) has been breached four times. This support will break down if reached 1-2 times more. In this case, the bears can shoot the price towards 1370 SATs (in white). A breakout from the wedge can signal the start of a bullish rally. 2000 SATs is the target of this movement.
Key Support Levels: 1500 SATs & 1370 SATs
Key Resistance Levels: 1700 SATs & 2100 SATs
Source: TradingView
The post XRP Price Analysis: Ripple Eyes $0.40 But Will Bears Propel Another Drop? appeared first on CryptoPotato.

The crypto market is in the green today. XRP has experienced a price increase along with the largest cryptocurrencies. However, the bearish trend will not be reversed until the price breaks out of the three-month consolidation. Technical Analysis By: Grizzly The Daily Chart XRP has technically fo...

cryptopotato.com

XRP Price Analysis: Ripple Eyes $0.40 But Will Bears Propel Another Drop?

After seven weeks, XRP managed to push back above $0.4, but the bears were quick to push the price back below it. In order for the bullish structure to remain valid, the bulls must not allow the price to go below $0.33.
Technical Analysis
By Grizzly
The Daily Chart
The bullish structure resulting from the formation of higher highs and higher lows is visible in the following chart. Late last week, the bulls succeeded in their third attempt to break the resistance zone in the $0.37-$0.39 range (in yellow). This extended the price towards the 100-day moving average (in white), although it was not reached or surpassed.
The bears defended this level, resulting in a fake breakout appearing on the chart. The pair is currently trading below the resistance zone, and the MA100 is approaching this level.
The bullish structure would be even stronger if the bulls can push XRP above $0.41. A break and close above this resistance would signal the start of a rally with a target of $0.5. By contrast, if buyers fail to impede the recent decline above $0.33, the bullish structure would be invalidated.
Key Support Levels: $0.33 & $0.30
Key Resistance Levels: $0.39 & $0.41
Daily Moving Averages
MA20: $0.36
MA50: $0.34
MA100: $0.40
MA200: $0.57
Source: TradingView
The XRP/BTC Chart
Against BTC, the cryptocurrency is fluctuating between the 100-day moving average from the down-side (in yellow) and the 200-day moving average from the up-side (in white). This has caused the price to range between two support and resistance zones ranging from 1500 SATs (in green) to 1700 SATs (in red). No significant movement can be expected until the price breaks out of this tight range-bound.
Key Support Levels: 1500 SATs & 1370 SATs
Key Resistance Levels: 1700 SATs & 2100 SATs
Source: TradingView


After seven weeks, XRP managed to push back above $0.4, but the bears were quick to push the price back below it. In order for the bullish structure to remain valid, the bulls must not allow the price to go below $0.33. Technical Analysis By Grizzly The Daily Chart The bullish structure resulting...

Will XRP Manage to Break $0.40 or is Another Drop Incoming? (Ripple Price Analysis)

Bitcoin and most major altcoins have bounced off their strong support levels and may challenge the overhead resistance in an attempt to resume the up-move.

cointelegraph.com

Price analysis 8/5: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX

Bitcoin and most major altcoins are witnessing buying near strong support levels, indicating a bullish sentiment.

Price analysis 8/3: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX

Attorney and XRP supporter John Deaton thinks Michael Saylor’s recent comments about altcoins are “absurd.”
Saylor, the CEO of MicroStrategy, recently said in an interview with Not Investment Advice that “all of the legitimate talent is working on top of the Bitcoin ecosystem.”
 
“If you’re honest, ethical and competent, you’re building stuff on Lightning, or you’re building an application.”
Saylor also claims that other projects in the crypto market competing with Bitcoin (BTC) took the shortcut of being unregistered securities because “they’re not decentralized.”
Deaton says Saylor’s comments are “troubling.”
“The ethical comments are absurd and Saylor needs to be better than that. The problem with his analysis is that he equates every potential developer with the platform’s founders.
If he wants to criticize altcoin founders in comparison to Bitcoin, it is understandable and I take no issue, whether I agree or disagree with him.
But we’re talking about an open, permission-less distributed ledger technology. Not every developer was distributed pre-mined tokens.
What about a developer who comes along and builds an application on one of these platforms and the developer has never met or even spoken to the founders, its foundation, or anyone associated with the creation of the token or the technology? Are you really calling them unethical?”
Deaton points to a developer named Jaskaran Kambo, who created a Bitcoin payment app on the XRP Ledger called “SpendTheBits.” Deaton says Kambo didn’t know anyone from Ripple and vice versa.
The XRP supporter also disagrees with Saylor’s analysis that most crypto projects are unregistered securities.
“Saylor basically asserts that if you are aware of the law then you would ONLY build on Bitcoin because the rest of the shitcoins are securities. Saylor’s analysis of what constitutes a security is deeply flawed – which is quite surprising, considering how intelligent he is.”
Last month, Saylor said that smart contract platforms Ethereum (ETH) and Cardano (ADA) are both securities.
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Featured Image: Shutterstock/pancha.me/Sensvector
The post Pro-XRP Lawyer Says Michael Saylor’s View on Altcoins Is ‘Deeply Flawed’ – Here’s Why appeared first on The Daily Hodl.


Attorney and XRP supporter John Deaton thinks Michael Saylor&#8217;s recent comments about altcoins are &#8220;absurd.&#8221; Saylor, the CEO of MicroStrategy, recently said in an interview with Not Investment Advice that &#8220;all of the legitimate talent is working on top of the Bitcoin ecosys...

dailyhodl.com

Pro-XRP Lawyer Says Michael Saylor’s View on Altcoins Is ‘Deeply Flawed’ – Here’s Why

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


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 ...

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