Good News of 3 New Trading Pairs for Ripple (XRP) Investors

The XRP gospel came from Japan.

Ripple (XRP), the third largest cryptocurrency by total market capitalization, is constantly evolving in both volume and new trading pairs. XRP is known to be very popular in Japan and especially in Asian markets. In fact, most of the volume of XRP comes from here. For this reason, it is very important news that FXCoin, one of Japan's well-known exchanges, adds new XRP trading pairs.

Herald for XRP

FXcoin, one of Japan's most important cryptocurrency exchanges, responded to the demands of XRP investors and announced that it added three new trading pairs to XRP. It is stated that users can trade XRP with Bitcoin (BTC), Litecoin (LTC) and Bitcoin Cash (BCH) trading pairs from this point on.

FXcoin entered the market last April by Tomoo Onishi, the former manager of the cryptocurrency exchange Deutsche Bank. Onishi worked for 17 years in the famous bank, whose name is often heard with problems, and then chose to switch to the cryptocurrency industry. It also appears that Onishi received a license from Japan's financial service regulator FSA in December 2019 prior to this breakthrough.

FXCoin, FSA Licensed

It is impossible to launch a crypto currency exchange in Japan without having an FSA license. Japan, where controls are kept very tight, therefore allows FSA-licensed stock markets to rise rapidly. It is very positive for investors that XRP also has three new trading pairs in such an exchange.

At first, the cryptocurrency exchange, which only supported the leading cryptocurrency Bitcoin, later added XRP and Ethereum cryptocurrencies. However, when XRP was first listed, only the Japanese yen could be traded. Yasuo Matsuda, the senior strategist of the stock exchange, stated in April that they started remittance transactions with XRP.

XRP Use Is Not Limited To A Single Area

FXcoin currently not only lists XRP but also uses the Ripple network and XRP cryptocurrency for remittance transactions. So XRP can definitely reach more volume with this popularity in Japan. This is seen as a positive factor that will indirectly affect the price of XRP / USD .

Master Analyst Warns: There Could Be A Huge Drop In XRP Price

XRP failed to clear the $ 0.6150 resistance and broke a downside support at $ 0.5740 against the US Dollar, similar to Bitcoin and ETH. XRP price is likely to drop to $ 0.5100 or even $ 0.4500 , analysts say .

XRP started a major decline after it broke the key $ 0.5740 support zone against the US Dollar. The price is currently trading well below the $ 0.5740 zone and the 100 simple moving average (4 hours), according to analyst Aayush Jindal. There was a break below the $ 0.5880 support and triangle on the 4-hour chart of the XRP / USD pair. The pair could retest $ 0.5740 before extending its decline to $ 0.5000.

XRP Price Gains Downward Acceleration

After several unsuccessful attempts near $ 0.6200 and $ 0.6150, XRP price started a strong decline. Bitcoin, ETH, BCH, ADA, LINK, and many other altcoins also experienced major declines. XRP followed a similar pattern and broke a few key supports near $ 0.5880 and $ 0.5740. There was an open break below the 50% Fib retracement level of the key bullish move from the low of $ 0.4548 to $ 0.6919.

Xrp price

More importantly, there was a break below the crucial triangle pattern with support at $ 0.5880 on the 4-hour chart of the XRP / USD pair. The price is currently trading well below the $ 0.5740 zone and the 100 simple moving average (4 hours).

XRP is testing the $ 0.5450 support level. If there is a clear break below the $ 0.5450 support level, the price could continue to decline. The next major support is near the $ 0.5000 level, with the bears aiming to test the $ 0.4500 support later.

Is There a Probability of Upgrade?

If XRP starts a corrective rise above $ 0.5600, it could face hurdles. The first major resistance is near the $ 0.5740 level (the last breakout zone). The next major resistance is near the $ 0.6000 level or the 100 simple moving average (4-hour). As long as the price is below the $ 0.5740 resistance, it is at risk of further losses in the near term.

Technical Indicators

4-Hour MACD: The MACD for XRP / USD is gaining momentum in the bearish zone.

4-Hour RSI (Relative Strength Index): The RSI for XRP / USD is currently well below the 40 level.

Major Support Levels: $ 0.5450, $ 0.5200 and $ 0.5000.

Major Resistance Levels: $ 0.5740, $ 0.5880 and $ 0.6000.

XRP Price Drops 10%, What Are The Charts Saying About Ripple?

Ripple price fell sharply with Bitcoin.

Ripple (XRP), the third largest cryptocurrency in terms of market volume, experienced an extremely strong rally at the end of November, performing unseen since 2017. At the end of November, the price of XRP increased by over 100% in three days.

Ripple Price

During the November rally, the market became so discrete and volatile that XRP rose as high as $ 0.92 on Coinbase. XRP, which saw the $ 0.75 level on most other platforms, then declined. However, even after the decline after the rally and the declines experienced today, XRP is still holding well above the levels it was traded a month ago.

In addition, XRP has lost about 10 percent in the last 24 hours, and the price has declined from $ 0.60 to $ 0.54 with the fall in BTC. Although there is a decline in XRP, analysts say Ripple may experience an upside break.

Josh Olszewicz, one of the popular analysts of the market, states that XRP is stuck in a certain price range and this congestion can bring a big move with it. However, evaluating the technical indicators, the analyst thinks that if the upward trend continues despite the decrease in the market, XRP will also move up.

Technical Indicators

Olszewicz recently shared a chart showing the 12-hour chart of XRP and the same timeframe as the “Bollinger Bands” indicator, a technical indicator used to indicate key technical levels and volatility .

The chart, as claimed, shows that the leading cryptocurrency is in the middle of a compression pressure. XRP price could break strongly in either direction, but some think Ripple will continue to rise as the crypto market remains in a bullish position .

Positive Basic Indicators

Currently, there is a big collapse in the market. With this collapse, it seems that XRP expectations, which were very positive in the market, started to return to neutral. Nevertheless, the fact that the Spark airdrop will take place seems to prevent expectations about XRP from turning negative.

However, analysts state that if there is greater interest, the price of XRP will increase. Spark airdrop is also thought to support this increase in interest. Still, the fact that a few people hold large amounts of XRP is a cause for concern and it looks like the next few days will show which one will prevail.

The Person Who Brings Ripple (XRP) Price Down Still Unchanged

Because of whom did the XRP price drop?

Ripple (XRP) price has been one of the hardest declines in the past 24 hours. The price of XRP, which fell to $ 0.509 and lost about 11%, started to show signs of recovery in the last 2 hours. Although the main reason for this decline is that Bitcoin (BTC) suddenly fell to the $ 17,000 band, there are also important factors on the XRP basis.

Bitcoin Is Not The Only Reason For XRP Price Drop

It's no surprise that the XRP price declined after both Bitcoin's movement and the large amount of XRP transferred to co-founder Jed McCaleb's wallet. McCaleb, once one of the most important names in Ripple, has been selling XRP heavily since leaving the project.

According to the information provided by Whale Alert, Ripple recently sent a large amount of XRP to Jed McCaleb. It appears that 266,305,310 million XRP were sent in a single transaction. McCaleb immediately started selling them. Looking at Bithomp data, it is seen that McCaleb has already sold close to 30 million XRP. This amount corresponds to approximately $ 18 million and is definitely too much to underestimate.

XRP Rain on McCaleb

In addition, McCaleb has access to 113 million XRP sent to his wallet on December 1. In other words, before the mass sale, McCaleb had a total of more than 379 million XRP. If the famous founder suddenly decides to sell them in bulk, the XRP price may again drop sharply.

 It is predicted that McCaleb will avoid such mass sales. This does not benefit the famous founder, as the mass sales suddenly press and lower the price. Instead, McCaleb sells from peaks as the price rises, earning more and making sure that it will bounce back when the price drops.

When will your XRPs be finished?

It is predicted that if McCaleb's XRPs continue to sell in this way, it will not end until the end of 2021. It is a known fact that the famous name with billions of XRPs is not very popular in the XRP community. McCaleb, who left Ripple's staff and launched rival crypto money project Stellar Lumens, seems to be the "most talked-about person" of XRP investors for a long time.

The XRP price is starting to recover as of now, which could lead to new sales for McCaleb.

XRP Holders Almost To Get Spark Tokens

 

As is known, XRP has experienced a huge rise recently. The rally, with an increase of almost 200%, gave XRP holders hope, as it was built, it was allegedly the Flare airdrop and the promise of free Spark tokens that helped push XRP to current levels.

The Flare airdrop snap shot for XRP holders will take place at the end of this week and there are only a few days left to prepare your wallet and claim the Spark tokens. So are you ready for airdrop?

Why Did Flare Airdrop Trigger XRP Explosion?

XRP investors experienced a more painful bear market than most of the other crypto investors and suffered greatly after three years of worst performance in the market. With every drop in XRP price cash, the investor army started to collapse psychologically. However, those who managed to hold onto were well rewarded with a surprise 200% rally in the 4th quarter of 2020.

In addition to the bullish momentum and the resulting ROI, Ripple holders can claim an equal amount of Spark tokens as part of the Flare Network's upcoming airdrop. The appeal of free tokens that can only be accessed by holding XRP was part of what caused the altcoin to rise recently, according to analysts. That's why investors just don't want to miss the three-day channel airdrop.

How to Buy Spark Token?

The Flare Network leverages the XRP ledger but brings Ethereum smart contracts to run DeFi applications in the protocol created by Ripple. The easiest possible way to claim Spark tokens is to store XRP on any cryptocurrency exchange that supports the Flare Network airdrop . These include Binance, Bithumb, Bitfinex, eToro, Crypto.com, FTX, Huobi, Kraken, OKEX, KuCoin, Paribu, BtcTurk, and even Coinbase, which users believe will not support.

The full list of supported exchanges is available on the Flare website . Is there a need to do anything? Not if XRPs are on the stock market. Each exchange will handle the entire transaction for you, and at some point offer their Spark tokens to investors who are holding XRP at the time.

Tokens May Not Be Issued Immediately

However, it's worth noting that anyone interested in airdrops through any of the supported exchanges should pay close attention to the relevant details that come up. Coinbase, for example, does not plan to issue any Spark tokens to users until an unspecified "future date" and reminds everyone that the tokens are subject to legal review first. Essentially, there is a possibility that you may not be able to receive Spark tokens from the exchange even though they participated in the airdrop. In the end, this is an issue that ultimately goes down to the regulators of each region.

To gain ownership of any Spark token, you can hold XRP in a wallet at your own risk. Users should also make sure they have access to an off-exchange Ethereum address. The remaining steps were kindly outlined by "Wietse", an XRP supporter and developer. Requirements include visiting XRPtoolkit.com with a connected Ledger Nano to interact with the ledger and claim tokens.

Spark tokens can be claimed after the snap shot on December 12, 2020.

60 Percent Move For XRP Price: When Will Consolidation End?

Will the XRP price take action?

Although XRP has been consolidating for a long time, it seems to be preparing for a massive bullish move, according to the technical chart. While the rest of the cryptocurrency market is stagnating, we can see a serious movement in the XRP price very soon. According to XRP / USD technical analysis, a bullish-focused pennant has formed on the 4-hour chart. So what does this pennant show for the price?

XRP Price Target: $ 1

The flag in question managed to increase the price of XRP to $ 0.80 in late November . Continued consolidation can keep the trend going and create a movement of at least 60%. The sharp increase in buying pressure also indicates that the previous trend may continue. The bullish pennant marks an increase of at least 66% from the breakout point, which is above $ 1 psychological support.

Peter Brandt Performs XRP Analysis

Of course, it is seen that this analysis is made according to the resistance left by the previous trend and the peak created by the filament. Peter Brandt, one of the most famous analysts in the cryptocurrency industry, commented on this chart and stated that the flag could increase the price to over $ 1. This statement by Brandt, who normally makes too many statements against XRP, is certainly surprising.

 

The famous analyst emphasized that $ 0.68 is a critical resistance and stated that the price will see $ 1 in the continuation of this. According to Peter Brandt, the sight of $ 1 may temporarily increase the selling pressure on the XRP price. This is exactly what the XRP / USD pair experienced after hitting $ 0.77 and the price crashed hard for a while.

Sales Decreases, XRP Buying Starts

Both technical indicators and volume point out that XRP traders could see a serious uptrend before December 12th. According to the data of the Santiment research firm, when there was an increase of up to $ 0.77, many whales sold XRP, which significantly reduced the selling pressure. Currently, it is observed that the number of wallets with 1 million to 10 million XRP is increasing again.

Of course, the rise in XRP price is based on the possibility that the Bitcoin price will not experience a sharp decline. If Bitcoin price falls sharply, XRP price is likely to fall as low as $ 0.40, one of its strongest support points. However, all indicators point to a more likely increase in XRP price for now.

Important Statement From The Strategist With Only BTC And ETH Investments: "XRP Is Interesting"

Former Goldman Sachs hedge fund manager explained that XRP has attracted attention. 

A leading macro strategist and former Goldman Sachs hedge fund manager said in recent statements that XRP is now gaining attention.

Raoul Pal, former Goldman Sachs hedge fund manager, recently stated that he has invested 98% of his liquid assets in Bitcoin (BTC) and owns very little Ethereum (ETH). Judging by the latest statements, XRP also seems to have entered the radar of the famous strategist.

Strategist Investigates XRP

Expressing that he has started to warm to XRP in his recent statements, Pal stated that he now has a basic understanding of the third largest cryptocurrency in terms of market volume, but has not yet invested in XRP.

On the other hand, Pal 's statements about XRP seem to have divided Twitter into two. But Pal says that the critics are trying to impose their opinion. “If someone tells me not to research Ripple, I will go and research Ripple because nobody can tell me what to do. I will find out for myself what the flaws and potential benefits of XRP are and evaluate the possibility myself. I can also draw exactly the same conclusions as you. I can come to completely different conclusions. " makes the description.

 

"Do Independent Studies"

In his statements, Pal states that investors should always be committed to investment opportunities and make independent decisions. Also, according to Pal, investors should always analyze whether the market is below the potential value of a particular asset.

Judging by Pal's statements, the famous strategist recommends that investors do their research independently and evaluate assets properly. Thus, each investor takes his own risk.

"I don't have XRP investments"

Although he stated that he has started to research XRP, Pal also determines that there is no XRP investment yet and that he will not enter this discussion. In addition, Pal as an example asks his followers to think that there is a 10 percent chance that the value of XRP will increase, but its market gives XRP a 0.5 percent chance. In this case, he states that the risk / reward equalization will be wrong and this will create a great opportunity.

Finally, Pal says that macro investors often have a unique perspective on the markets, and urges crypto enthusiasts to be open-minded about what is required to bring new money to the market.

Pal also touched on his remarks about Bitcoin regulations and said, “I understand that some of the crypto community doesn't like it because it feels like we're abusing this space, but as I talk about regulation, I also upset people when I say that regulation is a good thing. But if you want to get rich, people will have to come to the market. " using expressions.

Will Flare Network Increase XRP Price to $ 1?

Will XRP price be able to break records with airdrop?

XRP, the third largest cryptocurrency by total market cap, rose 3% in the past 24 hours, again above $ 0.60. Although the XRP price has increased from $ 0.48 to $ 0.60 compared to a week ago, investors want to see previous price levels.

Will XRP Price Break $ 0.77?

The XRP / USD pair saw $ 0.77 about 2 weeks ago and $ 0.90 on the Coinbase cryptocurrency exchange. After reaching these prices, there was a sharp decline in many trading pairs, including XRP / USD. For the Flare Network airdrop event, which the vast majority of investors rely on, there are a few days left and the price may take action again.

 

The Flare Network, backed and funded by Ripple Labs, will distribute its cryptocurrency Spark to all XRP investors for free. The first distribution will take place on December 12, and investors will be able to receive 1: 1 XRP in exchange for holding funds on exchanges or wallets that support the airdrop event.

 

Flare Network Could Be The Savior For XRP

The Flare Network airdrop event has definitely attracted XRP investors, and has enabled many new investors to make their first investment. So, will this news and development enable the XRP price to rise again to above $ 1? In fact, when looking at XRP / USD technical analysis, it seems to be a bit difficult.

Although XRP price came up to $ 0.77 in the rally that started at $ 0.22, it is known that there is a very strong resistance at the $ 0.88 point. When looking at the XRP price chart, whenever the price reaches $ 0.68, it is seen that it has been hit hard from here. In addition, the Flare Network airdrop event is likely to have already been priced.

Has XRP News Been Priced Already?

Many investors have already bought XRP for the XRP airdrop event, and it seems unlikely that the XRP buying pressure will increase significantly in the past 1 week. In other words, the real increase may have been experienced and finished within 1 month of the first release of this news. However, as seen in the last week of Ethereum 2.0, a serious increase can be seen for XRP a few days before.

50% of the ETH required for the transition to Ethereum 2.0 was invested in almost the last week. If XRP whales also decide to buy high-volume XRP lately, $ 1 for the price may not be far at all.

Bitcoin (BTC) Need To Break This Level For A Record In XRP And ETH

 PriceWhat is the main resistance that bitcoin price stuck on?

Not only XRP and ETH, but almost all altcoins have recently been severely affected by the movements of the leading cryptocurrency Bitcoin (BTC) . Bitcoin's 1% drop causes altcoins to decline by approximately 5% and everyone is looking to Bitcoin for the continuation of the altcoin rally.

Critical Point For Bitcoin Price

The leading cryptocurrency has managed to rise again each time, even though it has repeatedly descended below the $ 19,000 zone. The critical resistance points in front of the bitcoin price seem to be closing the road to $ 20,000, at least for now. A well-known crypto money analyst stated what resistance should be passed in order for Bitcoin to return to the days when it will break a record again.

Breaking this resistance could also start the altcoin rally, according to the analyst's statement. Cryptocurrency analyst Cantering Clark stated that consolidation and declines will continue until the BTC price breaks above the $ 19,400 level and closes here. Looking at the chart published by the analyst, it is seen that the price could not really hold at $ 19,400 and returned from here.

$ 19,400 Could Start A Rally For Altcoins

It is seen that there was a significant decrease in the price of altcoins when Bitcoin touched to $ 19,400 and fell from here. In fact, every cryptocurrency is currently tied to Bitcoin, and neither the $ 1 target of XRP investors nor the $ 800 target of ETH investors may be realized unless BTC can break this point.

Bitcoin price recently rose above $ 19,400 and closed here. As can be expected and seen from the chart, the break of the $ 19,400 level brought a sharp rise in the continuation. The BTC / USD pair climbed to $ 19,800 and broke the all-time record in this rise.

XRP and ETH May Refresh The Record

It is known that the price of XRP also saw $ 0.77 when BTC rose. While XRP saw $ 0.77, ETH investors also sold at $ 660 on some exchanges. In other words, BTC's breaking the all-time record gave the leading altcoins an annual record chance. However, this rally did not last as long as thought and BTC / USD suddenly fell below $ 18,000.

In the current bull rally, drops of 20% like this are known to be quite commonplace. Declines of 30% and 40% were seen before. Bitcoin price , on the other hand, managed to come back to its previous level after each decline.

Big Improvement in XRP Network: Next Target is 70 Million!

The 60 million threshold has been crossed in the XRP network.

The upward movement in the price of XRP, the third largest cryptocurrency by total market capitalization, of course, has also increased interest in it. XRP, which broke search records on Google Trends, has attracted a serious investor base and still continues to attract.

60 Million Record in XRP Wallets

According to the data transferred by XRP Ledger , the number of wallets on the network has recently increased to over 60 million. This is one of the new records in XRP history. According to XRPScan data, this incredible increase has occurred especially in the last 2 months. It seems that the number of wallets in the XRP mainnet last September was 50 million.

xrp 

Previously, on XRP Ledger, it took a period of 1 year to reach 10 million wallet increase. Now, there is a 10 million increase in the period from September to December, and this is an absolutely amazing development. Ripple CTO David Schwartz said that no such development has been seen since 2012.

 

Spark Airdrop One Reason

Another important reason for such a serious increase in the number of XRP wallets may be the Spark airdrop. Flare Network's cryptocurrency, Spark, will be distributed free of charge to all XRP investors at a 1: 1 ratio. However, this requires either creating a wallet in the XRP network or holding XRP on the exchanges that support it.

Leading exchanges such as Binance, Huobi, OKEx and most recently Coinbase have announced that they will support the XRP airdrop. This has created a worldwide recognition and popularity for XRP.

70 Million Can Be Reached Very Quickly

The next target for XRP, the world's third largest cryptocurrency, is now 70 million wallets. If the XRP price continues to rise from last month, it could take even less than a month to create 10 million new wallets.

Looking at XRP / USD price analysis and data, there are strong resistances ahead of XRP. However, as the Spark airdrop, which XRP investors are waiting for, approaches, buying pressure may increase and an upward movement can be seen in the XRP price. Of course, Ripple's steps in this process will also be critical for XRP investors and its price.