XRP Retreats To $0.55, On-Chain Metrics Expose Investor Pain

XRP is now trading at $0.55, following weeks of speculation and excitement from investors who expected a sharp price rise. However, fear and uncertainty drive the market, with Bitcoin and most altcoins trading at lower levels. This downturn has impacted investor sentiment across the board.  Crucial data from Santiment shows a noticeable change in the [...]

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XRP Skyrockets 40% As Speculation Of Ripple-SEC Settlement Gains Momentum

XRP, at the center of a high-stakes legal battle with significant implications for the industry, has taken the lead in the recent surge in crypto prices amid growing speculation that Ripple, the blockchain payments company behind XRP, may be close to a settlement with US regulators. Ripple-SEC Legal Dispute Continues Over the past week, XRP has experienced a substantial rally of over 40%, reaching a current trading price of $0.6161. This marks the highest level XRP has reached since April, while the overall market has seen a more modest increase of around 12% during the same period. The legal dispute stems from a lawsuit filed by the US Securities and Exchange Commission (SEC) against Ripple Labs in 2020. The SEC alleged that Ripple violated its rules by conducting an unregistered securities offering through the sale of XRP.  In a blow to the SEC, a US District Judge ruled in July last year that the sale of XRP to retail investors on exchanges did not constitute investment contracts. Related Reading: Silicon Valley Using Trump For A Bitcoin Pump Play? Mark Cuban Weighs In Adding fuel to the speculation is a “closed meeting” on the SEC’s website scheduled for July 18.. Although an SEC spokesperson declined to comment, investors and traders interpret this as a potential development in the status of XRP.  However, former SEC lawyer Marc Fagel dismissed rumors of an imminent settlement between the SEC and Ripple, stating that closed-door meetings of this nature have been routine since the lawsuit was filed.  Pro-XRP lawyer Fred Rispoli also weighed in, expressing skepticism about the likelihood of a pre-judgment settlement. While negotiations on outstanding arguments are possible, Rispoli added that a resolution before the court’s ruling seems unlikely.  Rispoli speculates that Judge Analisa Torres will order a penalty of less than $25 million and no disgorgement against Ripple, contrasting with the SEC’s request for a $102.6 million fine. Ripple, on the other hand, has proposed a penalty of $10 million. XRP Price Breakout, Analyst Anticipates Tremendous Gains With the XRP price hitting a 4-month high after a sharp downtrend, crypto analyst Dark Defender has stated that the token could be on its way to explosive gains if one key level is breached during the current rally. In a social media post, Dark Defender highlighted that XRP has entered the qualification mode by rebounding from the last frontier at $0.3917.  According to Dark Defender, if XRP manages to rise above $0.6649, it could embark on a journey towards the $18 to $36 price range, meaning a 2810% jump to the former and a potential 5740% rise to the latter. Related Reading: $174 In Sight: Analyst Projects Major Surge For Solana (SOL) In addition, the token has crossed its 200-day exponential moving average (EMA), marked by the yellow line on the daily XRP/USD chart, which was previously a notable resistance wall.  If consolidation above its 200-day EMA occurs, further price appreciation could be seen as trading above it has always resulted in notable gains for the XRP price, as seen in the chart below.  Featured image from DALL-E, chart from TradingView.com

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XRP Price Set For Colossal 63,000% Breakout As Ripple Secures Crucial Partnership In Europe

In a market witnessing a strong bullish momentum with several cryptos reaching new all-time highs and experiencing price recoveries, the XRP price has remained in a consolidation phase for the past two months after a brief surge in March that took it to its yearly high of $0.7430.  However, recent positive developments and announcements surrounding [...]

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Exploit Causes XRP Price Crash: Ripple Co-founder Discloses Losses Of $113 Million

XRP experienced a significant price drop early Wednesday amidst rumors of a potential exploit. The XRP price dropped more than 4% to $0.4853 but later recovered to $0.500 following a clarification from one of Ripple’s co-founders. Personal XRP Accounts Impacted, Not Ripple’s Initial reports suggested that Ripple had suffered a significant security breach, which was brought to light by decentralized finance (DeFi) investigator ZachXBT. These reports raised concerns about the overall security of the Ripple protocol. According to investigations, the breach resulted in the theft of more than 213 million XRP tokens, valued at over $112 million. The stolen funds were reportedly laundered through cryptocurrency exchanges, including MEXC, Gate, Binance, Kraken, OKX, HTX, and HitBTC. Related Reading: Why “Overbought” Bitcoin Could Trigger A 107% Rally However, Ripple co-founder Chris Larsen took to X (formerly Twitter) to clarify the situation. In a recent post, Larsen stated:  Yesterday, there was unauthorized access to a few of my personal XRP accounts (not Ripple) – we were quickly able to catch the problem and notify exchanges to freeze the affected addresses. Law enforcement is already involved. XRP Price Analysis Despite the recent security concerns, XRP is trading at $0.5085, marking a 3.4% decrease in the past 24 hours. However, beyond the Ripple co-founder’s personal account exploit, the XRP price has experienced a significant decline over the past month. Over the last seven days, the token has seen a minor 1.3% drop. The decline has deepened in the previous fourteen days with a 10% decrease. This is more problematic for XRP enthusiasts because the price has lost significant ground over the past 30 days, with an 18% dip. Related Reading: Analyst Compared Solana To Ethereum ICO Boom, What Does This Mean For SOL Price? Nevertheless, XRP bull and crypto analyst EGRAG Crypto provides an intriguing price analysis that could potentially encourage investors toward a price recovery if the token manages to hold and consolidate above the $0.500 level. According to EGRAG, a handful of chart analysts have noted that after wave 1 of the Elliott Wave theory, wave 2 could retrace up to 90% of wave 1. The initial targets of $0.85 to $1 were successfully reached during the July pump, with the price reaching around $0.93 after Ripple’s partial victory against the SEC in its ongoing legal battle over XRP classification. Currently, EGRAG suggests that a “wicking event” down to $0.41 is possible, considering a 10%-15% fluctuation due to the volatile nature of the crypto markets. However, the analyst points out that the upside lies in the upcoming Wave 3, which is influenced by Wave 1 and typically has a ratio of 1.618 compared to Wave 1. If all of this plays out, EGRAG ultimately sees the next short-term target for XRP being the all-time high (ATH) at $5. If the original wave count is adjusted, the range could be between $2.2 and $2.8. Featured image from Shutterstock, chart from TradingView.com

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Whales Snap Up 30 Million XRP As Ripple Launches Its RLUSD Stablecoin

XRP whales have been on a buying spree as blockchain payments company Ripple officially launched its dollar-backed stablecoin, RLUSD, on several global crypto exchanges this Tuesday. The stablecoin is now available for trading on platforms Bitso, Uphold, CoinMENA, MoonPay, and Archax, with additional listings expected soon. Ripple RLUSD Stablecoin Launches Amid Price Volatility RLUSD is designed to maintain a stable value in line with the US dollar and is compatible with both the Ethereum (ETH) blockchain and the XRP Ledger (XRPL), the latter being developed by Ripple Labs alongside XRP.  However, shortly after its launch, RLUSD experienced some volatility, trading at $1.50 on MoonPay early Tuesdayan unexpected premium above its intended value, Fortune Magazine confirmed. Related Reading: Ethereum Reaches $4,100 For The First Time In Over Three Years, Aiming For $5,000 Next David Schwartz, Ripple’s Chief Technology Officer (CTO), had anticipated potential price discrepancies in a prior post on X. He explained that early supply shortages could lead to RLUSD trading at a premium until the market stabilizes.  Schwartz reassured investors, stating, But rest assured, the price will come back to very close to $1 as soon as supply stabilizes. If it doesnt, something is very seriously wrong. Interestingly, RLUSD’s inflated price of $1.50 is a fraction of what it was previously listed at on Xaman, a crypto wallet for the XRP ledger. In the lead-up to the launch, Ripple supporters made bids for the initial RLUSD tokens, with some investors willing to pay as much as 511 XRPapproximately $1,300 per token. XRP Retraces To $2.52 After Initial Spike As the launch of RLUSD drives increased activity on the XRP Ledger, interest in XRP itself has surged. The token, used to settle transaction fees on the blockchain, saw a 6% rise in value on Monday, peaking at $2.71. However, it has since retraced to the $2.52 mark. Crypto analyst Ali Martinez reported that large investors, or “whales,” bought an additional 30 million XRP prior to the launch, further bolstering its price. In contrast, Bitcoin (BTC) and Ethereum experienced declines of 2.6% and 4.6%, respectively, in the same timeframe. Related Reading: Bitcoin To Hit $180,000 If These Cycle Top Indicators Are Absent, Says VanEcks Sigel The launch of RLUSD follows recent regulatory approval from the New York Department of Financial Services, positioning Ripple to enhance its presence in the payment network sector for cross-border transactions. Jack McDonald, Senior Vice President of Stablecoins at Ripple, emphasized the potential for institutional adoption, stating, The stablecoin market is going through this next growth spurt where theres going to be more institutional adoption that is premised upon institutional use cases. He highlighted stablecoins as a “killer app” for global payments. While initial interest in RLUSD is largely driven by retail investors, Ripple aims to integrate the stablecoin into its payments business to facilitate international transactions for global banks and institutional partners starting next year. Featured image from DALL-E, chart from TradingView.com

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XRP Makes A Strong 20% Surge, Pushing Past BNB To Become 5th Largest Crypto

XRP experienced a notable surge of over 20% on Friday, outperforming leading digital assets such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). This increase has propelled XRP to become the fifth-largest cryptocurrency by market capitalization, now exceeding $107 billion. As of the latest trading data, XRP is priced at $1.87, reflecting a remarkable 99% increase over the past two weeks. This performance has allowed XRP to surpass Binance Coin (BNB) in market capitalization, signaling a resurgence of investor interest. XRP Breaks Free From Three-Year Stagnation The recent rally marks a significant turnaround for XRP, which had been consolidating between $0.30 and $0.60 for nearly three years.  This period of stagnation was largely attributed to the end of the 2021 bull run and the ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC).  Related Reading: Second Distribution By Celsius Network: Creditors To Receive Bitcoin Valued at $95,000 Each The SEC’s classification of XRP as an “unregistered security” has created substantial uncertainty for investors, particularly in the US, which has impacted the token’s market performance. However, recent political developments in the United States have contributed to a renewed sense of confidence among crypto investors.  Following Donald Trumps victory on November 5, where he defeated current Vice President Kamala Harris, the cryptocurrency market saw a significant recovery. Bitcoin, in particular, reached a new all-time high of $99,540, leading this resurgence. Trump’s election promises to overhaul regulatory frameworks, including the dismissal of SEC Chair Gary Gensler on his first day in office, have further fueled optimism.  Gensler has announced his departure from the agency effective January 20, coinciding with the presidential inauguration, raising hopes that the protracted legal dispute between Ripple and the SEC may soon be resolved.  This potential resolution could pave the way for increased investment in XRP and the introduction of new investment products, such as exchange-traded funds (ETFs) focused on the token, with several asset managers having already filed applications. New Price Targets And Support Levels In terms of technical analysis, crypto analyst DarkDefender has noted that XRP has successfully broken through a critical resistance level at $1.44.  With the recent uptrend recorded for the fifth largest token on the market, DarkDefender outlined new targets for XRP, including $3.4176 and $11.3233, while also revisiting historical targets of $5.85 and $18.22. Furthermore, the analyst highlighted new support levels at $1.44, $1.28, $1.14, and $1.03.  Related Reading: NEAR Q3 Market Cap Dive: Exploring The 27% Plummet And Key Financial Metrics The 4-hour chart indicates a new market structure for XRP, with expectations of touching $2.13 before any potential corrections. New resistance levels are identified at $4.11 and $6.42 within this timeframe, aligning with the main target of $5.85 following the anticipated move above $1.88. Featured image from DALL-E, chart from TradingView.com

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XRP Breaks Above Multi-Year Resistance Top Analyst Shares Price Target

XRP is making waves in the crypto market, trading at $0.82 after setting new yearly highs following an impressive 65% surge in just a few days. This rally has captured the attention of investors and analysts, with top analyst Carl Runefelt sharing insights into XRPs bullish breakout. According to Runefelt, XRP has finally broken above a multi-year resistance level, signaling the potential for a massive rally to higher prices in the coming weeks. Related Reading: Bitcoin Weekly RSI Entering Power Zone Last Time BTC Soared 80% Adding to the optimism, recent positive developments in the broader crypto space have further boosted market sentiment. Reports suggest that SEC Chair Gary Gensler may step down, a move that potentially reduces regulatory pressure on the crypto industry. Elected President Donald Trump’s pro-crypto stance and policies also spark renewed interest and confidence among crypto enthusiasts. These factors have created an environment where XRP appears poised for significant gains. As investors watch closely, the focus remains whether XRP can sustain this momentum and continue pushing higher. With key resistance levels cleared and favorable news driving sentiment, XRP is positioning itself as one of the most promising assets in the crypto space right now. XRP Staring A Bullish Phase  XRP has entered a promising new bullish phase after years of lackluster performance and prolonged legal battles with the SEC in the U.S. This resurgence sparks optimism among investors and analysts alike, with top crypto analyst Carl Runefelt sharing a compelling technical analysis on X.  Runefelt highlighted XRPs breakout from a multi-year resistance level, which signals a significant shift in its price trajectory. In his analysis, Runefelt cautiously predicted that XRP could reach $2 during this bull cycle, a modest target compared to analysts who foresee price levels soaring past $20. The breakout marks a turning point for XRP, which has faced years of sideways price action and persistent selling pressure. Legal setbacks, regulatory uncertainty, and market skepticism had kept the asset underperforming relative to its peers. However, with favorable developments in the broader crypto market and the ongoing adoption of blockchain solutions, XRP is regaining its footing. Related Reading: Solana God Candle Is Close As It Breaks From Crucial Resistance Top Analyst Many believe the coming months could be transformative for XRP, with the potential to finally rise above its previous all-time high of $3.84 set in January 2018. As bullish momentum builds and investor confidence strengthens, XRP is positioned to be one of the standout performers in this market cycle. Bullish Price Action: Key Supply Levels To Watch XRP trades at $0.82 following a massive breakout that clears multiple resistance levels, signaling renewed bullish momentum. This surge has reignited optimism among investors as XRP demonstrates strength after prolonged underperformance.  The next critical supply level for XRP to test lies at $0.92, a price point it hasnt revisited since 2021. A successful breakout above $0.92, followed by consolidation and support building at this level, could open the door for significant upward movement. If XRP maintains its bullish momentum and establishes $0.92 as a support zone, demand could skyrocket, propelling the price toward the $1.4 level. This would mark a significant milestone, aligning with broader market optimism and strengthening investor confidence in XRPs long-term potential. Related Reading: Chainlink Whales Waking Up Data Shows Signs Of Accumulation However, the possibility of a failed breakout above $0.92 cannot be ignored. If the price struggles to hold this level, XRP could enter a consolidation phase, remaining range-bound until new catalysts emerge. Such a scenario would likely delay the next major move but might offer opportunities for accumulation. As the price continues its climb, traders and investors are closely monitoring these key levels, recognizing that the outcome could define the next chapter of XRPs price action in this bullish cycle. Featured image from Dall-E, chart from TradingView

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Ripple Co-Founder Chris Larsen Sends $1 Million XRP Donation To Kamala Harris

As the US presidential election approaches, the crypto industry has emerged as a focal point of political debate, with key figures from blockchain payments company Ripple expressing divided support for leading candidates Vice President Kamala Harris and former President Donald Trump.  This division comes amid ongoing debates about regulatory frameworks, particularly concerning the US Securities [...]

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