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Matter Labs is the creator of the Ethereum layer-2 scaling solution ZKsync.
The move aims to attract developers and expand XRP Ledger's capabilities, bringing new use cases to its ecosystem.
The XRP Ledger (XRPL) is making significant strides with its latest updates, sparking enthusiasm within the crypto community. Recently, the protocol introduced two major amendments named “fixEmptyDID” and “fixPreviousTxnID.” These updates were successfully approved by 31 validators, surpassing the required threshold for implementation. Ripple has also been actively working on
XRP has struggled to keep pace with the broader crypto market rally that began last week following the Federal Reserves interest rate cut. While other cryptocurrencies have seen impressive gains, XRP has only managed a modest 2% increase. Analysts and investors suggest this underperformance is due to growing interest in other projects, diverting attention and capital from the token. Adding to this concern, user participation in the XRP Ledger blockchain has declined, raising questions about the project’s long-term prospects. Related Reading: Cardano (ADA) Eyes 20% Price Surge Funding Rate Suggests Increasing Demand Key data from on-chain analytics firm Santiment reveals a notable drop in user engagement on the Ledger, contributing to a sense of unease among investors. As they watch other altcoins posting double-digit gains, fear and uncertainty are mounting within the XRP community. Investors are now looking for signs of a turnaround, but until the price can reignite user interest and regain momentum, it risks falling further behind in this bullish market cycle. With the market in flux, all eyes are on XRP to see if it can overcome these challenges and join the broader crypto rally. XRP Facing Serious Risk XRP is trading below the critical $0.60 mark, a psychological level that has acted as resistance for the past few months. Despite a recent surge in the crypto market, XRP shows signs of a potential retracement. While the altcoin initially benefited from the broader bullish sentiment, its weakening market signals suggest it may struggle to sustain this momentum soon. One concerning indicator is the decline in user engagement on the XRP Ledger blockchain. Key metrics from Santiment show that XRPs price Daily Active Addresses (DAA) divergence dropped to -74.46% yesterday. The price DAA divergence measures whether user participation is increasing alongside the price. A declining DAA, especially when the price is rising, is a bearish signal because fewer users interact with the network despite the price increase. This divergence suggests that the recent uptrend could be weak and unsustainable. Related Reading: Solana (SOL) Consolidates in Symmetrical Triangle Analyst Reveals $160 Target On Breakout If XRP continues to struggle and fails to close above the $0.60 resistance, it may face a more significant downturn. The altcoin could see a deep correction, potentially falling to lower demand levels around $0.55. Investors are now closely monitoring XRPs price action to see if it can reclaim the $0.60 level and regain momentum or if further declines are on the horizon. Price Levels To Watch XRP trades at $0.589 after two weeks of sideways movement, fluctuating between $0.57 and $0.59. Despite several attempts, the price has failed to break above the crucial $0.60 resistance level, leaving it at risk of a downturn. XRP is now approximately 6% above its daily 200 moving average (MA), which sits at $0.548a critical support that has provided stability in the past. For bullish momentum to build, XRP must break past the $0.60 barrier and aim for higher supply levels around $0.65. This move would signal renewed strength and potentially trigger a more substantial rally. However, the current price action appears weak, with limited upward momentum. If XRP fails to hold above the $0.60 level, a retest of lower demand zones around $0.55 is expected. Related Reading: SUI Price Sits 40% Below All-Time High As TVL Approaches $1 Billion The worst-case scenario for XRP would be an extended period of this sideways range, lacking a decisive breakout in either direction. Such prolonged consolidation could increase selling pressure, driving the price lower. Investors and analysts are watching closely to see if XRP can reclaim the $0.60 level, initiate a new uptrend, or face further declines. Featured image from Dall-E, chart from TradingView
Uphold’s Topper integrates with Ledger hardware wallet’s Ledger Live software for seamless fiat-to-crypto transactions. The Integration aims to challenge traditional banking and improve crypto accessibility. Following the integration, Ledger hardware now offers 14 on-ramps but only one off-ramp, enhancing user options. In a significant move to enhance cryptocurrency accessibility, Uphold’s fiat-to-crypto on-ramp, Topper, has officially […]
The post Upholds Topper integrates with Ledger hardware wallet appeared first on CoinJournal.
Toppers on-ramp entrance to Ledger Live comes at a time when Ledger supports only one off-ramp solution.
Ledger Live just announced its support for Ripple USD, or RLUSD. Ripple is going to soon issue stablecoin,…
Cardano (ADA) has seen a remarkable performance over the week, surging over 10% and reentering the top ten cryptocurrencies by market capitalization list. Its recent price action has fueled a bullish sentiment among investors and market watchers, who believe the token might be near a rally toward $1. Related Reading: BNB Falters At $600, Paving The Way For A Deeper Pullback Cardano Breaks Out To Reclaim Top 10 Spot Cardanos price has steadily declined after the March highs, registering a 42% drop in the last six months. During the Q1 rally, the token hit its highest price since 2022, reaching the $0.774 price range. Since then, ADA has nosedived to pre-rally levels, disappointing some investors and market watchers. The crypto community has repeatedly slammed the project for a lack of appeal to the broader public. Additionally, many have criticized ADAs underwhelming price action. However, the tokens recent rally has sparked a bullish sentiment among some community members. Despite the early September market shakeouts, the cryptocurrency has registered a 10% surge from its monthly opening, seeing green numbers in the weekly and biweekly timeframes. Technical analyst Crypto Yapper noted Cardanos recent performance. The analyst highlighted that ADA displayed a multi-month descending broadening wedge structure on its chart with multiple touch points on the top side and on the lower side. Inside this structure, the cryptocurrency displayed a smaller falling wedge pattern with its upper trendline being tested again on Monday. The analyst stated that the $0.35 was the first crucial resistance level for the token. Claiming this key zone and breaking out of the falling wedge pattern could create more bullish action and move the price toward the upper line of the bigger bullish structure. On Monday, Cardanos token reclaimed the $0.36 range, a level not seen in nearly a month. The surge sent ADAs price toward the $0.37 resistance level, turning the $0.375 price range into a support zone on Tuesday morning. The recent performance also pushed Cardano back to the top ten cryptocurrencies list after ADAs market capitalization surged 6%, surpassing Tron (TRX) in the last 24 hours. Analysts See New Price Targets For ADA Today, Crypto Yapper noted that ADA broke above resistance as the cryptocurrency was creating a higher high on the daily chart. This performance indicates a huge trend reversal for Cardano. However, he pointed out that to break above the descending broadening wedge, the token must reclaim its second key resistance level at $0.39. If successful, the breakout could target the structures higher price range of $0.52. Related Reading: Bitcoin (BTC) On Track For Strongest September Performance, Is $90,000 Next? Other analysts also highlighted ADAs performance and breakout, suggesting that the cryptocurrency has the potential for a 170% surge. Dan Gambardello pointed out, “Cardano just went through a phenomenal throwback to a colossal triangle pattern. To the analyst, If crypto is about to enter a green October, I anticipate ADA will reclaim $1 with haste. ADA is trading at $0.378, a 6.2% and 12.2% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com
Gold has gained more than 5% in two weeks, reaching a record high driven by rate cuts and geopolitical tensions.
Powerledgers co-founder John Bulich believes the expansion emphasizes that sustainability is a common goal that transcends ecosystems.
Reown CEO Jess Houlgrave believes crypto wallets will transition into a collection of wallets and accounts that can interact with each other.
Ian Rogers of Ledger stresses the importance of self-custody and warns against complacency during crypto market booms.
Ripple is set to launch a new token standard on the XRP Ledger this month, aiming to enhance its support…
The post Ripple Launching New Token Standard on XRP Ledger first appeared on The Crypto Basic.
Paul Brody, EYs global blockchain leader, highlights how privacy is the missing piece for blockchain adoption in businesses and provides potential solutions to enterprise concerns.
The large private companies will work with seven central banks on improving structural inefficiencies in international transfers.
The Linux Foundation Decentralized Trust is a foundation that will incorporate all of Linux's decentralized projects in one place, including all of Hyperledger.
The Rollup Coaster #31 delves into Ethereum's advancements, focusing on rollups, zero-knowledge proofs, TEEs, MEV/PBS, and more, according to Taiko. (Read More)
Merlin Chain and BitcoinOS join forces to deploy the Grail Bridge, introducing zero-knowledge proof (ZKP) for secure cross-chain transactions.
Taiko's Rollup Coaster #28 delves into Ethereum advancements, covering rollups, zero-knowledge proofs, TEEs, MEV/PBS, and more. (Read More)
Ripples Q2 2024 market report recently highlighted a decline in a crucial on-chain metric that could significantly impact the the XRP price. This decline in network activity and several other factors threaten to send the crypto token to new lows soon enough. XRP Records Decline In On-chain Transactions According to the report, on-chain transactions on [...]
The post XRP Ledger Sees Sharp Decline In Major Metric That Threatens To Send XRP Price To $0.2 appeared first on Crypto Breaking News.
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