XRP Price Analysis: Traders Can Look to Trade Within $0.46 Support and $0.49-$0.5 Resistance Range
The writer's opinion is presented and it is not financial, investment, trading, or other types of advice. Short-term traders can trade within the XRP range, while those looking to build a long position can do so in the $0.46 region.
XRP's Circulating Market Cap and Price Drop in Q2, On-Chain Metrics Decline
XRP's circulating market capitalization and price both decreased by over 10% in Q2, but its year-to-date market cap remained up due to a rise in Q1. The Ripple vs. SEC lawsuit had an impact on XRP's price, with a revenue spike occurring in June. XRPL's network activity metrics declined in Q2, but the NFT ecosystem saw growth.
Messari Report Highlights XRP and XRPL Growth in Q2, Despite SEC Lawsuit Impact
Messari, an on-chain analytics firm, has released a Q2 report highlighting the growth of XRP and XRPL. XRP's circulating market cap has increased by 42.5% YTD, mostly due to its price spike in Q1. The recent price movements of XRP have been influenced by news surrounding the SEC's ongoing lawsuit with Ripple.
XRP Faces Challenges Amid Uptrend Break, Potential Price Retest, and Optimism for Ripple's SEC Lawsuit Outcome
XRP, the cryptocurrency tied to the XRP Ledger, has recovered from earlier lows but faces challenges as it falls below a crucial uptrend line. Pessimistic price predictions suggest a potential retest of the 200-Day Moving Average, but some anticipate a positive outcome if Ripple prevails in its SEC lawsuit, making XRP one of the top-performing cryptocurrencies in 2023.
XRP Whales Add 280 Million Coins to Wallets, Retail User Activity Declines: Is a Bearish Reversal Looming?
The price of Ripple (XRP) has remained relatively stable between $0.46 and $0.48 over the past two weeks. However, on-chain data reveals that large XRP investors, known as whales, have been adding to their holdings, potentially offering bullish support.
Class Status Granted To Ripple Labs Crypto Investors In Securities Lawsuit
A US District Court has granted class status to investors in a securities lawsuit against cryptocurrency company Ripple Labs Inc. The lawsuit alleges that Ripple Labs sold XRP, a virtual token, to retail investors in violation of federal and state securities laws. The court certified two classes for federal and California state securities claims, limited to US-based investors who purchased XRP between July 3, 2017 and June 30, 2023. The ruling emphasizes the predominance of common questions and shared merit of claims within the class, and the case will proceed collectively.
XRP's Daily Burn Rate Surges, Fueling Speculation of $100 Token Value
The daily burn rate of XRP, a popular cryptocurrency, has increased significantly, leading to speculation about a potential bull rally. Crypto analyst 24HRSCRYPTO has made an optimistic prediction that XRP, currently trading below $1, could reach $100 and has provided reasons for this.
Uphold Reveals Impressive $1.056 Billion XRP Reserves, Drawing Attention from XRP Community and Digital Asset Enthusiast John Deaton
Crypto broker Uphold has released data on its reserves, revealing holdings of $1.056 billion worth of XRP. This has drawn attention from the XRP community and digital asset enthusiast John Deaton. XRP accounts for 28.5% of transactions on the Uphold platform, with XRP assets making up 59% of all assets. Uphold's report also shows that its coverage surpasses liabilities, standing at 101.3%.
Cardano's Ascending Triangle Pattern Indicates Potential Price Rally, XRP Aims for Reversal, and Pepe's Rally Fueled by Retail Investors
Cardano's ascending triangle chart pattern suggests a potential upward breakout, indicating bullish implications and attracting investor attention. The pattern forms when an asset's price creates higher lows and hits the same resistance level multiple times, signaling a battle between buyers and sellers. Despite positive on-chain metrics and bullish chart patterns, Cardano still has a long way to go to reach the scale of larger networks like Ethereum.
XRP Price Holds Strong with Gains Likely Above $0.5 as Citigroup Reconsiders Partnership with Ripple-Acquired Company
July 4 (Cointime) - XRP has gained 1.5% in the past 24 hours, trading at $0.49 with a trading volume of $886 million and a market cap of approximately $26 billion. Despite analysts predicting a retracement, XRP bulls are holding strong and the price is supported by the 50-day Exponential Moving Average and a buyer congestion area at $0.48.
