RIPPLE TECHNICAL ANALYSIS (XRP US DOLLAR)
XRP/USD Chart
Fundamental Overview
Big Picture
THEMES AFFECTING Cryptocurrencies
SPECIAL WEEKLY FORECAST
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
War for dominance hit the bedrock of the market
The cryptocurrency market reaches the end of the week with widespread declines in the crypto market. The week has been dominated by a boiling Altcoin segment that has set very significant rises.
BCH/USD in retreat after gaining 7% in a matter of minutes
Bitcoin Cash (BCH) is still in a red zone on a day-to-day basis; however, the coin recovered strongly from the intraday low of $232.60 and hit $240.00 in a matter of minutes. At the time of writing, BCH/USD is changing hands at $237.00.
ADA/USD extends the decline, $0.1000 at risk
Cardano (ADA) extended the decline and hit $0.1102 on Friday. The coin has lost 20% from the peak of $0.1386 reached on July 8. At the time of writing, ADA/USD is changing hands at $0.1120, down 9% in the recent 24 hours.
ETH/USD volatility ousted as DeFi skyrockets to $2 billion
Ethereum alongside the largest cryptocurrency, Bitcoin are dealing with a peculiar situation characterized by low trading volume, poor investor interest as well as the lack of catalysts.
BEST CRYPTO BROKERS/EXCHANGES
Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive
The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.
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XRP
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.