Could Ripple See $ 3.30 Again?

BTC's record has served XRP the most.

With the Bitcoin (BTC) price breaking a record, almost the entire cryptocurrency industry has become active. Looking at the crypto currencies in the top 10, it is seen that XRP is the highest with BTC . Behind XRP's rise of 11% in the last 24 hours is Litecoin with 10%, followed by Ethereum with 7% and finally Chainlink with 5%. So, will the XRP price rise continue?

XRP Price Raging

The XRP / USD trading pair has been falling sharply since December 12. It is known that the XRP investor created sales pressure after the airdrop day and the volume increased exactly for this reason. After the XRP price fell below the critical support levels and declined to $ 0.45 today, the Bitcoin miracle occurred.

The leading cryptocurrency's rise from $ 19,500 to $ 20,500 at once and breaking the critical resistance point has also brought dynamism to altcoins. This rise seems to have benefited the most for XRP and enabled it to rise above the critical support. In fact, it is known that there is very low correlation between XRP and BTC, and this spike has certainly surprised many investors.

XRP Climbs to $ 0.52

Looking at XRP technical analysis, it is seen that if the XRP price holds above $ 0.52, it can rise up to $ 0.58. The continuation of $ 0.58, which previously served as an important resistance, is $ 0.65. The XRP price was up to $ 0.77 at the last time it held above $ 0.65.

Could Ripple See $ 3.30 Again?

The fact that Ripple investors have created an increase of approximately $ 2 billion in XRP volume with Bitcoin taking action indicates that the buying pressure will continue for a while. In particular, the slowdown and consolidation of the leading cryptocurrency could create a bull season similar to that of 2017.

It is known that the price of XRP rose up to $ 3.30 in the bull season in 2017. Nevertheless, it is more important than ever to take action in such a lively and tough market. BTC price may fall as sharply as it exits, and XRP and other altcoins may suffer the most from this drop. It is known that the important support point for the XRP price is $ 0.45 and $ 0.32

According to Crypto Analysts, What Will The Direction Be In The Price Of XRP?

 

XRP has seen a serious breakout in recent weeks, surprising both its investors and the entire cryptocurrency community. Spark Airdrop was shown as the reason behind the pricing of the crypto currency, which ranks third. After taking a snapshot for the airdrop, XRP's serious decline proved this idea.

XRP was trading at $ 0.44 according to CoinMarketCap data at the time of writing . XRP has dropped 9% in the last 24 hours and 18.21% in the last 7 days. So what do analysts say about this situation?

Indigenous crypto currency analyst at Dr. Hardfork stated that XRP broke the supports and could fall to 0.24 after the 0.42 level.

Local analyst Siesta Laila shared a chart on his Twitter account and commented on the XRP:

"When you look at the XRP chart, you think it is even more unfair :) There is a reaction from the support, but if you have a weak entry, six stops of the support. If it can throw over 2600 resistance, it will allow those who hold it to breathe comfortably. "

Analyst Crypto Michael said, “Bitcoin is consolidating nicely, which gives altcoins some room to accelerate. Except for XRP. "It has dropped almost 50% since its highest level."

Another analyst Aayush Jindal stated that XRP started a steady decline below the $ 0.5000 and $ 0.4800 levels against the US dollar. XRP price is currently trading below $ 0.4750 and the 100 simple moving average (4-hour).

There is a major bearish channel formed with resistance near $ 0.5330 on the 4-hour chart of the XRP / USD pair (data source from Kraken). If there is a clear break below the $ 0.4350 level, the pair is likely to continue to decline.

Popular Analyst: "Don't Sell XRP Here"

Analyst Credible Crypto stated that XRP should not be sold in the current area, and made the following statement with a humorous language:

“If you sell XRP from here you will cry for the rest of your life and then you will cry in the afterlife and then you will be reborn as a baby and still cry. It will all be because you sell XRP here. Don't make yourself cry for the next three lives. Don't sell XRP here. "

Technician Hodja, one of the local traders, emphasized his confidence in the crypto currency and stated that he will continue to collect XRP at every opportunity for the long term.

Is There Any Potential For XRP Rising?

If XRP starts a good recovery wave above the $ 0.4650 resistance, the bulls could try to take control, according to analyst Jindal. A clear break above the $ 0.4650 and $ 0.4720 levels could start a good recovery. The price must rise above the $ 0.5000 level to move into a positive zone. A close above $ 0.5000 will likely pump the price towards the $ 0.5500 level.

Ripple (XRP) Price Still Falling Despite 'DeFi' Herald After Airdrop

The decline in XRP price continues.

The price of XRP , the third largest cryptocurrency by total market cap , continues to decline. XRP, which was traded at $ 0.66 a few weeks ago, and $ 0.77 at the beginning of the month, is now down to $ 0.45, which reduces hopes.

New developments for XRP are not over

The steps taken from the Ripple front and the Flare Network airdrop program were actually seen as promising developments. It is known that the main reason behind the XRP price rising from $ 0.30 to $ 0.77 is the Flare Network airdrop program. However, the expected December 12 date for the airdrop tumbled XRP down the abyss.

One detail that XRP investors have missed or ignored is that the uptrend may continue in the long term. Flare Network actually aims not only to airdrop within the scope of this partnership, but also to bring XRP into the DeFi ecosystem. For now, it is a known fact that the DeFi ecosystem has become a dominant Ethereum.

XRP Enters the DeFi Industry

The Flare Network team, on the other hand, wants to bring XRP into this ecosystem by using Ethereum's virtual machine EVM. For now, only images of the balances have been received in the airdrop name and the token distribution has not started yet. However, more important news is that XRP has the possibility to enter the DeFi sector.

The project, which aims to introduce the XRP network to the DeFi ecosystem using the Ethereum network-based FLR cryptocurrency and EVM, will begin development in 2021. In other words, although the price is currently experiencing a sharp decline, the positive developments from the Flare front in 3 to 6 months have the chance to change many things.

Flare Network Not Ready Yet

XRP investors have to wait for the launch of the main network of the Flare Network in order to receive FLR tokens from the airdrop. For only 15%, the mainnet has to be released and the remaining distribution schedule has not been published. The XRP / USD pair, on the other hand, continues to decline and dropped to $ 0.44 last night, below the critical support.

For the XRP / USD trading pair to return to critical levels, it must remain above $ 0.50. The current decline seems to be due to the panic of individual investors.

XRP Coin Chart: Ripple Price Drop Deepening, Concerns Rising!

Ripple price decline continues unabated.

Ripple's rally was very short. XRP price rose from the $ 0.30 level to $ 0.78 but is now in a bearish trend again towards the $ 0.30 band.

The combination of spark airdrop excitement and positive move in the market has given XRP a serious momentum, but the excitement seems to have faded. XRP, which was traded at $ 0.4490 at the time of writing, fell to $ 0.4373 in the past hours.

Why Is Ripple Falling?

In fact, Ripple had excited investors with its recent price movements and started to compensate for its poor performance in the past three years. As is known, XRP has been in a bear market for about three years and did not react to the short-term rallies in the market. The recent spikes were thought to be the awakening of XRP, but Ripple did not act as expected.

Rising with the spark airdrop excitement, rising to $ 0.78 overall, and even to $ 0.90 on some exchanges, XRP fell after the excitement subsided. The resulting excitement also increased the technical power of XRP, but according to the latest data, XRP is losing technical power again in the days we left behind.

So the reason behind the XRP's decline is indirectly technical weakness. The technical weakness is that spark airdrop is thought to be a quench of excitement .

Important Supports Are Breaking One by One

Ripple seems to be losing key support levels one by one in addition to its decline. Looking at the current charts, $ 0.52 and $ 0.48 were very important support levels for analysts. Ripple is currently trading below both of these levels and the downward trend is likely to continue unless the price is supported by different factors in the near term.

In addition, it is thought that key support levels are likely to turn into resistance, and if this happens, further weakness may be seen.

Is there any chance of ascension?

According to analysts who evaluate the current charts, the picture looks dark for XRP in the near term . However, as always, there is a possibility for the third largest cryptocurrency to rise in terms of market volume.

Although XRP currently appears in freefall regardless of the Ethereum (ETH) and Bitcoin (BTC) price, the prices are still linked. Therefore, a serious upward upward momentum initiated by BTC and ETH may have the power to pull XRP up.

For this reason, if BTC and ETH manage to break the consolidation processes upwards, we can see the bullish charts for XRP again

Bank of America's Final Survey in Favor of Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP)

The Bank of America survey revealed interest in Bitcoin.

The survey conducted this month by Bank of America and BofA Securities showed very positive results for Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and all altcoin investors in general. In a survey conducted by BoA, one of the most important banks in the USA, it was revealed that people opened short positions for the US dollar and invested in Bitcoin (BTC).

Bitcoin Ranks Third

According to the survey conducted with the managers of hedge funds, it is seen that the most popular investment is to open a long position for technology shares for December 2020. Opening a long position is known as taking a step towards the rise of an asset, while opening a short position is known as taking a step towards its fall.

 

Investing in the shares of technology companies comes first, while shorting the US dollar is the second. It is not surprising that the second most popular investment move of December was against the US dollar. Trillions of dollars in stimulus package payments and uncertainty in the US actually underlie this.

BTC Difference From Others, Growth Rate

Opening long positions for Bitcoin is in third place. However, although Bitcoin is in the third place, it is seen that it is the fastest and most growing investment tool compared to November 2020. While opening a long position for Bitcoin in November 2020 was at the level of 5%, in December 2020 this rate rose to over 15% and grew approximately 3 times.

Under the Bitcoin investment, there is a long position for corporate bonds, while under it there is a similar move for gold investment. However, it is seen that the rate of opening long positions for gold decreased compared to November 2020.

How Altcoins Like XRP and ETH Affected From This

Is this only positive for Bitcoin? In fact, the survey results show that BTC is the only asset that has moved to the positive side so quickly in a month. Even though investment in technology stocks ranks first, it seems to have declined compared to November 2020. As can be expected, Bitcoin's popularity means a new rise for Ethereum, XRP and other altcoins. If Bitcoin can continue this growth in 2021, not only BTC, but also altcoins could break the record on the record.

Ripple Milestone: RippleX Released Its First Project

Ripple, which has a valuation of over $ 10 billion, launched its own developer platform RippleX and the first project was published. The first RippleX project based on XRP Ledger was officially published on Github. So what exactly does this landmark development mean for Ripple?

RippleX's first project: XRPl4j

The first project appears to be a Java library (XRPl4j) with the functionality to interact with XRP Ledger (XRPL). The main purpose of this development can be expressed as the use of Java language in the XRP Ledger network. It is seen that the project was created with the Java based automation tool Maven and has a multi-module architecture. One of these modules enables the addresses and public keys in the XRP network to be converted into Base58Check encryption language. The Base58Chck encryption protocol is known as the method used in XRP wallets. In fact, this language was also used in the original Bitcoin client.

Bridged between Java apps and XRP Ledger

The biggest benefit of RippleX's first project will be to create a bridge between XRPL and Java applications. With this development, Ripple aims to pave the way for new projects and developments in the network. RippleX was formerly known as Xpring and was the investment and development arm of Ripple. Although Xpring has invested and funded many projects such as the recently popular Flare Network , it could not be mentioned much in terms of development.

The first project implemented and the fact that it is a bridge could change things for Xpring, or RippleX as it is now called. XRP price, on the other hand, fell 6% in the last 24 hours, and fell again below $ 0.50.

Millions of XRP Transfers From Ripple (XRP) Partner: How Will Price Move?

SBI VC Trade has transferred millions of XRP.

SBI Holdings, one of Ripple's largest partners and one of Japan's leading holdings, made a transfer of 200 million X R P, further increasing investors' fear of the recent price drop. It seems that the funds were sent from the cryptocurrency exchange affiliated with SBI Holdings to SBI VC Trade.

200 Million XRP Transferred

It is seen that the crypto money transfer in question was made in two different transactions with 100 million XRP each. In other words, with this transfer made by SBI Holdings, a total of more than $ 102 million was transferred. Although Whale Alert cited these transfers as "originating from unknown wallets," later research proved that the wallets were affiliated with SBI.

SBI VC Trade is a platform that opens for institutional investors and basically enables investors to withdraw Bitcoin, XRP or Ethereum-based loans. This transfer from SBI's cryptocurrency exchange to the VC Trade wallet indicates that someone has requested to withdraw large XRP credits or funds have been replenished.

BitGo Involved In XRP Transfers

Some of the funds are seen to be sent to BitGo. BitGo, which is also in partnership with Ripple, provides cryptocurrency custody and storage services for financial institutions. On December 12, it was seen that about 246 million XRP was released from BitGo wallets, which went to SBI VC Trade wallets.

XRP price is traded at $ 0.50 in the continuation of all these developments and it could not recover after the airdrop. This drop of XRP, which went up to $ 0.77 about 3 weeks before the airdrop program, was an expected development. In big news and developments like this in the cryptocurrency industry, even if the price rises until the event occurs, the price tends to crash when the event is over.

Will XRP Price Fall Again?

XRP price also hovered around $ 0.55 before the event, but fell to $ 0.48 when the airdrop day came. These transfers now indicate that whales are beginning to take different paths. The critical level for XRP appears to be the $ 0.48 support that was previously tested.

If the XRP price drops below $ 0.48, the next target appears to be $ 0.33. The panic for XRP investors may increase the selling pressure and accelerate the decline.

Ripple (XRP) On The Edge: Will XRP Price Fall To Its Old Point?

XRP price declined to the critical point.

Ripple (XRP) suffered a serious crash with the expected airdrop day coming after a very positive November. The XRP, which went up to $ 0.77 with the FOMO before the airdrop and even up to $ 0.90 on Coinbase, is trying to hold at $ 0.50 as of the time this article was written.

XRP Technical Analysis

Experts and technical analysis data point to the XRP price approaching the edge of the abyss. One of the most important support points for XRP is known as $ 0.50 and $ 0.40. XRP price has the potential to decline to $ 0.40 in the near term, according to technical analysis, which is interpreted as a fall from the abyss.

XRP / USD technical analysis, where the descending parallel channel formation occurs, prevents the bulls from rising. When looking at the RSI indicator, it is seen that the effect of the bears is felt more than ever. If the RSI indicator returns to the oversold zone, this pattern may be disrupted, but for XRP, it does not seem possible in the near term.

Will XRP Price Fall Off The Abyss?

Looking at the chart below, it can be seen that the channel formation is worth $ 0.49 gold. The break of the $ 0.40 resistance that previously caused a sensational rise could be as a break below the $ 0.40 support right now. This will create a new channel formation, causing the price to fluctuate between $ 0.40 and $ 0.27.

In order to break the related bearish pattern, Ripple price has to disrupt the descending channel formation by closing daily above $ 0.5. It is seen that the lowest point of the channel coincides with the 200 SMA level and therefore the price may resist. The most important point for XRP will definitely be $ 0.60.

Is Hoping Over For XRP Price?

If the XRP / USD price can rise above $ 0.60 at the weekly point, everything will take on a different dimension and the XRP price may start to rally again. The targets of XRP price after the critical $ 0.60 point appear to be $ 0.62, $ 0.70 and $ 0.85, respectively. XRP, which previously shot up to $ 0.90, could push $ 1 in a new rally.

Meanwhile, millions of XRP transfers are remarkable. In these days when XRP whales are getting more active again than ever, anything can happen at any time. XRP investors, on the other hand, need to be ready for hard moves.

Ripple (XRP) Price Continues To Fall: Where Will XRP Stop?

XRP price fell as low as $ 0.48.

Although the leading cryptocurrency Bitcoin (BTC) has managed to recover after falling to $ 17,600, this is not the case for XRP. One of the most important steps was taken for the airdrop that everyone was waiting for on December 12, and the balances of the XRP investors' wallets were recorded. While XRP price has been rising with this development for almost 1 month, it entered a sharp downtrend after December 12th.

XRP Price Continues to Decline

While the FLR airdrop event is expected to have a major trigger for the XRP price , the fact that this effect was only until December 12, actually surprised investors. Thor Chan, CEO of AAX crypto money exchange, stated in his current interview that the XRP and Flare partnership is not just a simple airdrop program.

The famous CEO stated that there will be more cooperation between the XRP Ledger and the Flare Network and significant developments will come to the XRP network. Stating that the integration of the XRP Ledger with the Flare Network could bring an increase to $ 0.90 for XRP, although the price fell sharply, the CEO stated that the Bitcoin price should also increase for this.

Below $ 0.50 Seen

XRP price, on the other hand, fell to $ 0.50 after the airdrop and lost its support of $ 0.50 as of today. The XRP / USD pair is heading towards $ 0.48 on the 4-hour chart, which could result in a consolidation between $ 0.30 and $ 0.40 for XRP again. Although the RSI indicator shows that the bearish effect will continue for now, it is still not in the overbought territory.

The RSI indicator entering the oversold zone could actually be a positive development for investors. However, the fact that over-selling is still not seen indicates that the XRP price can be lowered a little further with the selling pressure. XRP price could retreat as low as $ 0.45 according to the chart above. If there is no support here, the next point will be $ 0.38.

Critical Levels for XRP

The XRP / USD pair had tested exactly 7 times before to break $ 0.38. It is known that the situation is different in the downs and the XRP price can drop very sharply at a time. The main reason for this is the selling pressure and the panic and the investors contributing to this selling pressure.

Despite all this, the XRP price has a chance to return from $ 0.48 and use the support here in its favor.

Bitcoin (BTC) Price Recovers After A Hard Drop: So What Will Ripple (XRP) Price Be?

While Bitcoin is recovering, XRP continues to count.

Bitcoin (BTC), the largest cryptocurrency by total market cap , has recovered from where it fell to over $ 19,220 as of the time of this writing. The expected return has come, although the drop in the bitcoin price from $ 19,000 to the $ 17,000 band reddishes all altcoins and the market.

Bitcoin Price Recovers

While this increase in bitcoin price affects almost all altcoins positively, XRP has not been able to catch the desired rise and continues to fall. The XRP / USD trading pair is currently resisting against falling below $ 0.50. However, despite the volume of cryptocurrency exchanges, the price decline definitely shows that the selling pressure has reached incredible levels.

This rise in the bitcoin price is directly related to institutional investors. B TC received official approval from one of the world's largest insurance companies , such as MassMutual , and the company stated that it has made an investment of $ 100 million. Following this, news emerged that MicroStrategy received another $ 650 million BTC. XRP, on the other hand, made a hard sell with the expected day of the airdrop program made by the Flare Network.

XRP Investors Panic Continues

It is unclear how many SPARK tokens XRP investors will buy right now, and yet the sharp fall in price suggests these could be manipulative moves. The number of XRP whales had increased at a record high just before the airdrop, and the likelihood that the whales are now selling is well.

Critical resistance points for XRP are known as $ 0.48 and $ 0.42. Landing below here could mean a new bear season.

It is known that the next resistance points for bitcoin price are the close above $ 19,200, the $ 19,600 resistance and finally the weekly close above $ 19,800. When the BTC / USD pair reaches these levels, altcoins are likely to be crushed. However, BTC seems to be standing still and giving altcoins a chance to rise after a serious rise.

Critical Points for XRP and ETH

If XRP can escape the selling pressure, it will have to break $ 0.55 first and then $ 0.62.

On the other hand, Ethereum price managed to break the critical resistances in front of it by reaching the level of $ 578. If Bitcoin's market dominance drops, the ETH price is expected to rise to $ 620, from there to $ 680 and finally to $ 750. Of course, all this depends on the course of the Bitcoin price and is indexed.