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9 de jan.

XRP Price Could Surge 40% Amid ‘Trump Effect’ and Bullish Chart Pattern

XRP, the payments-focused cryptocurrency, is poised for a potential 40% price increase as technical analysis and improving market sentiment point to bullish momentum. The so-called "Trump effect," coupled with favorable regulatory shifts in the U.S., has fueled optimism among traders.Bullish Technical Patterns Signal Major GainsDescending Triangle Breakout in PlaySince peaking at $2.9 in December, XRP has carved out a "descending triangle" pattern. This technical formation features a horizontal support line, indicating consistent demand near $2.00, and a declining upper trendline, representing weakening bounces.According to CoinDesk analyst Omkar Godbole, descending triangles typically resolve with either a downside break or a bullish breakout, with bullish patterns producing average gains of 47%. If XRP breaks above its declining upper trendline, prices could surge 40% or more, resuming the bullish trend that started from November's lows near $0.50.“All bets are off if prices diverge from the pattern and move below the horizontal support line near $2.00,” Godbole added.Social Sentiment and the Trump EffectOptimism Outpaces Bitcoin and EthereumSocial sentiment for XRP remains highly positive. Data from Santiment shows that XRP enjoys higher optimism than Bitcoin (BTC) or Ethereum (ETH), with increased mentions across social media platforms.Policy Expectations Under TrumpXRP’s price has surged over 300% since November, driven by expectations of crypto-friendly policies under President-elect Donald Trump. Ripple Labs, the firm behind XRP, anticipates a more favorable regulatory landscape, particularly following the departure of SEC Chair Gary Gensler, who was viewed as crypto-skeptical.Ripple CEO Brad Garlinghouse expressed optimism, noting that the incoming administration ends "years of regulatory limbo" and has already opened new business opportunities. Ripple Labs has signed more U.S. deals in the last six weeks of 2024 than in the previous six months.Ripple President Monica Long added to the bullish outlook, hinting that an XRP exchange-traded fund (ETF) could become a reality soon, aligning with expectations of a pro-crypto regulatory shift.Key Levels to Watch for XRPTo confirm the bullish breakout, XRP must break above the descending triangle's upper trendline. If prices fall below the $2.00 support, the bullish thesis would be invalidated.With technical patterns and social sentiment aligning, XRP is positioned for a potential 40% move higher, further fueled by the "Trump effect" and shifting U.S. regulatory tides, according to CoinDesk.
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8 de jan.

Altcoin News: Why Is XRP Price Down Today?

XRP price has dropped by 5% today as bearish on-chain metrics and technical indicators weigh heavily on the altcoin. Over the last 24 hours, XRP’s price fell by 4.8%, aligning with a broader market decline that saw the total crypto market cap slide by 6.5% to $3.35 trillion. The price drop was accompanied by a 114% surge in trading volume, highlighting significant sell-side activity.What’s Behind XRP’s Price Decline?$4.5 Million in XRP Long Positions LiquidatedMassive liquidations in XRP’s derivatives market have fueled the price decline. Data from CoinGlass shows that over $12.92 million worth of long positions were liquidated in the past 24 hours, compared to only $3.86 million in short positions. This forced selling has intensified the downward pressure.These liquidations mirror the $72.6 million in long liquidations seen between Dec. 18 and Dec. 20, which led to a 23% price drop, bringing XRP to a low of $1.95.Adding to the bearish sentiment, XRP’s funding rates have turned negative, dropping from 0.21% on Jan. 7 to -0.11% on Jan. 8. A negative funding rate indicates increased short interest and declining demand for long positions, with open interest dropping by $300 million in the same period.Long-Term Holders Offloading XRPOn-chain data reveals that long-term holders are contributing to the sell-off. According to Santiment, XRP’s Dormant Circulation Supply (356D)—tracking tokens unmoved for over a year—spiked from 8.3 million on Jan. 4 to 208.3 million by Jan. 7.This suggests long-term investors sold over $467 million worth of XRP, adding significant selling pressure and contributing to the 7.2% price drop since Jan. 4.Key Technical Levels to Watch for XRPXRP’s price continues to face resistance at the upper boundary of a descending parallel channel, currently at $2.45. If bulls fail to flip this level into support, the altcoin risks further decline to $2.15, supported by the 50-day Simple Moving Average (SMA). A break below $2.15 could lead to a deeper drop toward $2.00.The Relative Strength Index (RSI) currently sits at 53, suggesting a neutral stance, leaving room for a breakout in either direction. XRP needs to overcome the $2.45 resistance level for a bullish reversal.Outlook for XRP PriceDespite the current bearish momentum, some analysts remain optimistic. Crypto analyst Steph Is Crypto predicts XRP could still break out of its bull flag formation and potentially reach $5.60.Market Sentiment and TrendsThe ongoing price movement underscores the influence of derivatives market dynamics, long-term holder activity, and key technical levels. Traders are advised to monitor XRP’s funding rates, trading volume, and resistance levels to anticipate future price action, according to Cointelegraph.
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7 de jan.

Analyst: XRP Price Eyes Breakout Amid Resistance Challenges

{spot}(XRPUSDT) According to Cointelegraph, XRP is attempting to close a daily candle above its descending resistance trendline, which has previously limited the altcoin's price movement. A successful break above this trendline and the resistance range between $2.48 and $2.60 could signal a bullish breakout, potentially pushing the price above $2.72. Market analysts are optimistic about XRP's potential for a significant breakout in the coming weeks, although timing remains crucial. Veteran trader Peter Brandt recently highlighted on social media that XRP's half-mast flag pattern on the weekly chart could complete within the next six weeks. This pattern, which is neutral, can lead to either a bullish or bearish outcome. Brandt suggests that if the pattern completes bullishly, XRP's market cap could reach $500 billion, translating to a 262% gain or a price target of $6.40. However, he cautions that the pattern needs to progress soon to avoid transforming into a different formation. Another crypto trader, Mikybull, also sees an imminent breakout for XRP, noting a bull flag pattern on the 1-day chart. Using Fibonacci extension lines, Mikybull sets an immediate target of $3.74, with a long-term target as high as $15, representing a 514% increase from the current value. For XRP to achieve these bullish targets, it must first overcome the resistance range between $2.48 and $2.60, which has capped the price action multiple times. Despite the potential for a rally, Brandt's warning about a possible breakdown should be considered if the resistance persists. Dom, an order flows market analyst, notes that XRP has been in a mid-range for six weeks, with a point of control around $2.45 based on the Volume Weighted Average Price (VWAP) metric. He suggests that a daily close above $2.45 is crucial for breaking the $2.60 target, which would then bring the higher price targets of $3.74 and $6.40 into focus over the coming weeks. This article is for informational purposes only and does not constitute legal or investment advice. The views expressed are those of the authors and do not necessarily reflect the opinions of Cointelegraph.
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16 de dez. de 2024

21Shares Registers XRP Trust in Delaware

According to Odaily, 21Shares has officially registered the 21Shares XRP Trust in the state of Delaware. This development was confirmed through an official document, marking a significant step for the company in expanding its cryptocurrency offerings. The registration of the XRP Trust indicates 21Shares' continued commitment to broadening its portfolio and providing investors with diverse options in the digital asset space. The establishment of the XRP Trust aligns with 21Shares' strategy to cater to the growing demand for cryptocurrency investment products. By choosing Delaware for the registration, 21Shares benefits from the state's favorable regulatory environment, which is known for its business-friendly policies. This move is expected to enhance the company's position in the competitive market of cryptocurrency trusts, offering investors a regulated and secure way to gain exposure to XRP. As the cryptocurrency market continues to evolve, 21Shares' initiative to register the XRP Trust demonstrates its proactive approach in adapting to market trends and regulatory requirements. This registration is a crucial step in ensuring that the company remains at the forefront of the industry, providing innovative solutions to meet the needs of its clients. The XRP Trust is anticipated to attract interest from investors seeking to diversify their portfolios with digital assets, further solidifying 21Shares' reputation as a leading provider of cryptocurrency investment products.
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16 de dez. de 2024

Ripple CTO Warns of Potential Volatility in New Stablecoin Launch

According to Cointelegraph, Ripple's Chief Technology Officer, David Schwartz, has cautioned about potential "supply shortages" and volatility surrounding the launch of Ripple's US Dollar-pegged stablecoin, RippleUSD (RLUSD). In a post dated December 15, Schwartz highlighted that the stablecoin might experience significant price fluctuations initially, despite its design to maintain a 1:1 parity with the US dollar. This volatility is attributed to several large orders for the token.Schwartz pointed out that some pre-market bids for the yet-to-be-released stablecoin were artificially inflating its value. He responded to a post showing 1 RLUSD valued at approximately 511 XRP, equivalent to $1,244 at current prices, on a Ripple wallet named Xaman. Schwartz remarked that someone seemed willing to pay $1,200 per RLUSD for a small fraction, suggesting it was more about the "honor" of purchasing the first RLUSD to hit the market. However, he reassured that the price would stabilize close to $1 once the supply normalizes, warning investors against succumbing to "FOMO" (fear of missing out) and emphasizing that this is not a get-rich-quick opportunity.On December 11, Ripple CEO Brad Garlinghouse announced that RLUSD had received final approval from the New York Department of Financial Services, with the official Ripple account indicating that the stablecoin would launch soon. Once available, Ripple intends to integrate RLUSD with XRP in its cross-border payment solutions to serve global customers, as stated in RLUSD's beta testing announcement. Ripple President Monica Long previously mentioned that RLUSD is designed to be "complementary and additive" to XRP.Ripple perceives RLUSD as beneficial for XRP, as the two will be paired to enhance liquidity and stabilize the stablecoin's price, preventing depegging. According to Ripple Labs CEO Brad Garlinghouse, RLUSD will primarily target large institutional players, aiming to leverage XRP's significant availability on exchanges to support RLUSD's liquidity.
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15 de dez. de 2024

XRP Sees Historic Rally Amid Political and Ecosystem Developments

According to Cointelegraph, XRP experienced a significant rally in November 2024, driven by political factors and advancements within its ecosystem. Georgios Vlachos, co-founder of the Axelar open-source interoperability platform, highlighted the potential impact of the upcoming RLUSD stablecoin on XRP demand in 2025. Vlachos noted that stablecoins are widely used for transactions and as a store of value, particularly in emerging economies. The RLUSD stablecoin is expected to primarily settle transactions on the XRP Ledger (XRPL) and the XRP-EVM sidechain, thereby increasing demand for XRP. He explained that XRP holders benefit from these transactions as they require gas fees paid in XRP, which results in the burning of some XRP with each transaction. XRP reached a seven-year high of approximately $2.90 on December 3, 2024, before retreating to current levels. This pullback followed the Relative Strength Index (RSI) hitting 95, indicating an overbought condition. Despite this, several factors continue to attract investor interest in XRP as 2025 approaches. The cryptocurrency's rally was partly fueled by Donald Trump's electoral victory on November 5, which brought optimism to the crypto market due to his pro-crypto stance and the potential for a more favorable regulatory environment in the United States. Additionally, on November 25, asset management firm WisdomTree filed for an XRP exchange-traded fund (ETF), joining other firms like Bitwise, Canary Capital, and 21Shares, which have also submitted applications to the Securities and Exchange Commission (SEC) for similar ETFs. On December 1, XRP surpassed Solana in market capitalization, becoming the fourth-largest cryptocurrency. Data from CoinMarketCap shows XRP's market cap at approximately $138 billion, just under $2 billion short of Tether's market cap of around $140 billion. The New York Department of Financial Services (NYDFS) approved Ripple's RLUSD stablecoin on December 10. This dollar-pegged stablecoin will be overcollateralized by fiat cash reserves and short-term cash equivalents like US Treasury bills, and it will be redeemable at a 1:1 ratio with US dollars. Readers are reminded that this article does not provide investment advice or recommendations. All investment and trading activities involve risk, and individuals should conduct their own research before making decisions.
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