RIPPLE TECHNICAL ANALYSIS (XRP US DOLLAR)


Ripple’s protocol ensures neither safety nor liveness, according to researchers at the University of Bern


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.

Read full analysis

SPONSOR BROKER


Latest Ripple Analysis


Latest Ripple Analysis

Editors' picks

Bitcoin price will drop to $14,000 before the bull run resumes

Bitcoin has taken the lead in the recent run-up in the cryptocurrency market yet again as it moved back above the $19,000 mark. Prices have managed to retain all the gains realized over the last few weeks after recording ...

More Bitcoin News

Cardano price is on the verge of a massive move, suggests critical indicator

Cardano has been trading relatively sideways for the past four days consolidating from its 2020-high at $0.183. The digital asset seems to be ready for a massive price move as bears and bulls continue fighting.

More Cardano News

Aave price jumps 10% following protocol upgrade, bulls target $110

The Aave V2 protocol is a major update of the platform and comes with new products like a yield and collateral swap allowing users to deposit their assets in the protocol and trade while being used as collateral.

More Aave News

Bitcoin to hit mainstream adoption within four years as trust in sovereign fiat currencies erodes

Institutional interest in Bitcoin has experienced a massive increase over the past year, which has translated into significant growth in value, with the pioneer cryptocurrency gaining over $170 billion in market capitalization in the past three months. 

More Bitcoin News

BEST CRYPTO BROKERS/EXCHANGES

Gold Weekly Forecast: XAU/USD tumbles to multi-month lows on risk flows, technical selloff

Bitcoin has lived through a roller-coaster week. The pioneer digital currency hit another multi-year high of $19,500 and got really close to the all-time high on Wednesday. 

Read the weekly forecast

BTC

ETH

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.

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.