RIPPLE TECHNICAL ANALYSIS (XRP US DOLLAR)
Technical overview
Big picture
THEMES AFFECTING Cryptocurrencies
SPECIAL WEEKLY FORECAST
Interested in weekly XRP/USD forecast? Our experts make weekly updates forecasting the next possible moves of the bitcoin-dollar pair. Here you can find the most recent forecast by our market experts:
Ripple Forecast: XRP/USD clutches above $0.20, is holdling an effective XRP strategy?
Ripple is currently in consolidation above $0.20. Therefore, there is not much that can be said in regard to this week’s price performance, except for the move that tested $0.2150 on Monday.
Latest Ripple Analysis
Editors' picks
Stellar top could be near as funding rates are overextended
XLM price has experienced a massive 60% rally in the past two weeks, cracking the previous all-time high of $0.60 established on February 13. However, Stellar did not get any continuation moves above this point, and it is trading at $0.581 at the time of writing.
VeChain price at risk of a pullback as technicals spell trouble for the bulls
VeChain price is up by 70% in the recent two weeks, hitting a new all-time high of $0.147 on April 10. However, the digital asset seems poised for a correction after such a colossal rally.
XRP comes to a standstill while BTC and ETH are getting started
The cryptocurrency market seems tightly wound, especially the altcoins, whose funding rates show a massive spike of late. Such a condition reveals that the speculators are betting on an upward move in asset prices.
The Graph is on a clear path to 30% upswing
In the past five days, The Graph managed to confirm a 12-hour uptrend and shifted the odds back in favor of the bulls. The digital asset faces low resistance ahead according, to key on-chain metrics.
BEST CRYPTO BROKERS/EXCHANGES
Bitcoin Weekly Forecast: SEC commissioner cozies up to BTC ETF, on-chain metrics reset making way for volatile move
Bitcoin’s mainstream adoption has soared over the last couple of months, with institutions like Visa, Goldman Sachs, Morgan Stanley, and others dipping their toes in the BTC markets. Likewise, prices look primed to advance further despite the ongoing consolidation phase.
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Characteristics of Ripple
Ripple is the third largest market capitalization strength in terms of cryptocurrencies. It was launched in 2012 as a decentralized free software payment system and under this name we find both the financial protocol for transfers and the cryptocurrency better known as XRP.
However, until 2016 Ripple did not obtain the necessary accreditation to operate as a cryptocurrency, ending up being fined the previous year with a sum of 700,000 dollars. Just one year after obtaining its license, its capital had amounted to 55 million dollars in part due to its acceptance and subsequent collaboration with banks such as Santander, Siam Commercial Bank, Royal Bank of Canada or UniCredit, among others.
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Differences between Ripple, Bitcoin and Ethereum
Among the most outstanding features, the speed of transfer stands out because for every second a total of 1,500 transactions can be carried out while other cryptocurrencies such as Bitcoin and Ethereum only allow 6 and 15 respectively. Likewise, completing a transaction takes around 4 - 5 seconds while with Ethereum it takes 2 minutes and with Bitcoin, it goes up to almost an hour.
Due to the importance of Bitcoin today, Ripple has a payment gateway that facilitates payment between its users with these two cryptocurrencies without the need to have their own wallet with that currency. Despite using a similar operation that allows the connection with other cryptocurrencies, it does not work under the blockchain technology.
Another main difference with respect to other cryptocurrencies is the absence of mining. It’s not possible to generate new Ripple units this way. Right from its launch, it was agreed that the maximum number of Ripple would be at 100 billion units, although not all of them are in circulation at this time. Ripple units are being released by their creators periodically. In addition, it’s worth underlining that nearly 20% of the market cap is owned by its creators.