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Ripple News

Ripple Unlocks Monthly Escrow Worth $225 Million: Report

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Ripple unlocks its monthly escrow which raises even more questions about the XRP performance. In our Ripple news, we will try to find out an answer to some of these questions so let’s dig in.

Over the course of this year, the token has dramatically underperformed and lost all hopes of an end-of-year rally. XRP is still down by more than 30 percent this year as we are getting to the end of 2019. Ripple unlocks the escrow tranche of 1 billion coins so it is uncertain how many of them will be sold or distributed by ripple itself. The selling could happen on OTC markets but there is a huge supply of coins and too little demand beyond speculative trading and limited testing by banks. Getting close to the rock-bottom prices invited some of the buyers to hold the asset hoping to get some returns.

XRP got low to $0.21 during the latest sell-off and some of the analysts marked this as a decent buying level. However, holding the XRP coin could be counterproductive and the expectations of heavy gains could never materialize. XRP is about two years away from reaching the peak prices above $3.40 and the level never actually repeated in BTC terms. Waiting for the new hike of the price is seen as unreasonable right now. XRP increased some enthusiasm with the summer rally reaching above $0.47 but as Bitcoin abandoned the yearly peak, XRP also started to fall.

The Ripple Swell conference in November was only one event that was supposed to make the investors wait for another potential rally. Instead of doing that, XRP dropped by more than 16 percent at that point. Right at the end of 2019, XRP is down to around $0.22 and added to the flat price so the volumes are even lower. The usual activity is about $1.4 billion in 24 hours but the activity fell to about $1 billion per day during the Thanksgiving weekend.

There are some who believe in the crypto asset but the coin is seen as a tool to make a huge bet on an unexpected gain. It is uncertain if the XRP market could afford some bigger volumes to absorb the selling but the XRP token looks pressured in comparison to other coins.

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Ripple News

Ripple Broke The $0.2200 Support Area Against USD

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The XRP price is declining as we speak and Ripple broke the $0.2200 support area against USD recently. As it stands, the price is likely to face a lot of hurdles near this point in the near term.Everything started a few days ago, when XRP initiated a bearish trend line with resistance near $0.2200 on the hourly chart of the XRP/USD pair according to Kraken. From today's Ripple XRP news, we can see that the bears are in control now and seem to be eyeing a test of the $0.2120 support.After struggling to stay above the $0.2240 support, Ripple broke its support area and traded below $0.2200 to move into a downtrend. Besides, we could see a close below this area and the 100 hourly simple moving average. This is how the altcoin came down to $0.2180 and formed a weekly low near the $0.2166 level.At press time, XRP is currently correcting higher. As Ripple broke the $0.2200 support area, now the cryptocurrency is at $0.2199 and moving slower to the bottom. An upside break above $0.2200 and $0.2205 won't be easy in the near term and if XRP surpasses the $0.2200 resistance, it could recover to $0.2240. However, for that to happen we must see a lot of bullish momentum and something that would change the trend so that the price goes to the $0.2320 resistance.On the other hand, the price might start a fresh decline from the $0.2200 resistance. If the bears gain momentum, we could see XRP dropping towards $0.2120 or even at $0.2100. When looking at the chart, the Ripple price is back in a bearish zone below the $0.2240 and $0.2200 levels. Thus, the recent breakdown is likely to lead the price towards $0.2100.
  • Hourly MACD – The MACD for XRP/USD is now moving in the bearish zone.
  • Hourly RSI (Relative Strength Index) – Ever since Ripple broke a new support zone, the RSI for XRP/USD has been correcting higher towards the 40 level.
  • Major Support Levels – $0.2160, $0.2150 and $0.2120.
  • Major Resistance Levels – $0.2200, $0.2240 and $0.2260.
Ripple broke the $0.2200 area and is still declining. The cryptocurrency still ranks third on the total market cap list before Tether (USDT), Bitcoin Cash (BCH), Litecoin (LTC) and EOS (EOS). The altcoin news today show that the only gainers in the top 20 are Tezos (XTZ) with a 1.65% increase and Cosmos (ATOM) which is the biggest earner with new 4% on the day.
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Ripple News

Ripple Trades Below $0.2260 Showing Strong Bearish Signs

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Ripple trades below $0.2260 and shows strong bearish signs. The price is currently declining from the key resistance level at $0.2320 against the US dollar so we are reading more about the price analysis in the Ripple news below.The major bullish trend line yesterday was beached with support close to the $0.2280 on the hourly chats of the XRP/USD pair. Ripple traders under a minor bearish pressure and the price is still at risk of dropping towards the $0.2140 support area in the near term. In the past few days, there was a slight increase in the price above the $.2200 resistance against the US dollar, and the price traded above the $0.2250 and $2280 resistance levels. Further, there was also a break above the $0.2300 resistance and the 100 hourly simple moving average but the price struggled to gain strength above the key $0.2320 resistance area.A new high was formed near the $0.2324 before the price started a fresh decrease below the $0.2300 but there was another break below the 23.6 percent Fib Retracement level from the upward movement of the $0.2098 low to $0.2324 high. More importantly, yesterday’s major bullish trend line was surpassed with support forming at $0.2280 on the hourly chart of the XRP/USD pair. The pair settled below the $0.2260 and the 100 hourly simple moving average.Ripple trades below $0.2240 and is closing in on the 50% Fib retracement level from the previous upward move of $0.2098 to the $0.2324 high. It seems like the $0.2210 and $0.2200 levels are the perfect support for the currency. If the price doesn’t manage to stay above the $0.2200 support, it will continue to move down towards the $0.2140 level. The next support is near the 61.8 percent fib retracement level of the upward move from the previous $0.2093 to the $0.2324 high.On the upside, the support was close to the $0.2240 which could act as a resistance. The first key resistance will be the $0.2260 so the price has to move above the $0.2240 and the $0.2260 to revisit the key $0.2320 resistance area in the near term. The price shows a few bearish signs as well as similar to Ethereum and Bitcoin. This means that if ETH drops below $144 and bitcoin breaks above $7,260, there are a few chances of a drop in Ripple’s XRP towards $0.2100.
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Ripple News

Heavy Downside Pressure For Ripple’s XRP Price

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Heavy downside pressure is forming for Ripple’s XRP with a bearish short-term and medium-term trading outlook. The four-hour time frame shows there is a bullish inverted head and shoulders that has been invalidated as we are reading more in the latest ripple news.The daily time frame shows a bearish breakout forming from the triangle pattern. Ripple remains under heavy downside pressure and still hasn’t established a technical price floor. The XRP/USD pair has lost more than 30 percent since the start of November and is now trading around five percent below the opening price of the month. The technical analysis shows that the pair is creating a bearish triangle breakout on the daily time frame which moves the cryptocurrency within the touching distance of the $0.20 level.The four-hour time frame shows that the bullish inverted head and shoulders pattern was invalidated a few days ago which is bearish development for the pair over the short-term. The price is also making lower lows which once again hint that the XRP/USD pair has yet to find a strong price bottom. The $0.1900 level is now offering the strongest form of long-term support under the psychological $0.2000 level.The bulls have to rally the price of XRP towards the $0.25 level just to encourage purchasing and then stabilize the XRP/USD pair above the $0.285 level which is the most important technical area. By looking at the potential pattern formation, if the buyers are able to rally the price after one lower push, the large inverted head and shoulders pattern could also form on the daily and four-hour time frames. The Relative Strenght index for the daily time frame shows that Ripple is quite oversold while the MACD indicator shows pockets of bullish MACD divergence.According to the latest sentiment data, the short-term sentiment towards ripple is neutral at 52 percent while the overall long-term sentiment for the cryptocurrency is quite bearish at a 24 percent range. The four-hour time frame shows that the key technical resistance is now located at $0.235 and $0.25 levels so the technical resistance over the medium-term is now located at $0.285 and $0.31 levels. The four-hour time frame shows that the XRP/USD pair has a strong medium-term technical support around the $0.21 level.The critical long-term technical support for XRP is located at the $0.19 level. Ripple has yet to establish a strong price floor placing the emphasis on more XRP/USD weakness towards $0.19.
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Ripple News

XRP Is Set To Finish 2019 Poorly After Failing To Garner Momentum

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XRP is set to finish poorly as 2019 was a hard year for the altcoin since it set new yearly lows in the past several weeks with its fall down to $0.20. This bearishness has made XRP be one of the worst-performing cryptos of the major ones, in the markets over this year, and it looks like further losses could be imminent as we reported in the previous Ripple XRP news.Yet, analysts are noticing that XRP could see some gains against its trading pair BTC in the near future, should it hold hard above a key support level. At the time of writing this article, Ripple (XRP) is been traded sideways at the current price of $0.22, which marks a notable up from its daily downs of $0.21 that we’ve seen last night.These falls were set concurrently with BTC’s fall to $7,000 yesterday, and similarly, XRP’s growth from this fall went up after Bitcoin posted a strong growth up to $7,800. Over a seven-day period, XRP is traded down noticeably from its weekly highs of $0.233 but it managed to go up significantly from its recent lows of $0.20 that were made in late-November of 2019 during the market fall that was led by Bitcoin’s fall to %6,500.In the near future, XRP may experience some further relief if it manages to surge against its trading pair, Bitcoin, with Bitcoin Jack, a well-known crypto analyst on Twitter, sharing to his followers last week that he thinks the embattled crypto could grow if it is able to bounce from 0.0002695, which is slightly down from its current price of 0.00002947. However, XRP is set to fail the next year but according to the analyst we should:
“Let’s give $XRP another go. Support here looks like shit, if it breaks this is where I want to get long. Looks like a decent opportunity to trade it back towards range high,” he explained
Another well-known crypto analyst on Twitter, elaborated in a new tweet that XRP was traded for 21 quarters, with an average quarterly growth of 114%.
“$XRP has traded for 21 quarters; – Avg Q = 114% – 10 Pos Q – 11 Neg Q – Pos Q Avg = 276% – Neg Q Avg = -32% – 6 of 8 Qs have been neg since Jan 2018, w/ Pos Q <30%.”
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