• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
XRP

Why XRP Holders Who Are Taking Profit Should Check These Data In The Coming Days

Christian Encila by Christian Encila
3 months ago
in Cryptocurrency news
Reading Time: 3 mins read
Advertisement

XRP has struggled to break out of a narrow range over the last few weeks and has failed to make any significant progress in terms of price pump.

  • XRP struggles to surpass he crucial $0.53 resistance marker
  • The altcoin is swinging between narrow ranges in terms of price movement
  • Whales continue to accommodate despite previous selloff

The asset’s trading data chart reveals it is trapped within a Fibonacci support and resistance region where it encounters strong challenge surpassing the $0.53 marker.

Related Reading: Cardano (ADA) Market Cap Grows By Over $1 Billion In 24 Hours
Source: TradingView

Every time XRP tries to move past this certain price point, it ends up testing the $0.43 support level. This cycle has been ongoing for the altcoin since the month of September.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

Despite the recent rally of the crypto market, the virtual coin declined by 1.3% over the last 24 hours and is still down by 4.4% for the past two weeks. At press time, according to tracking from Coingecko, the digital currency is trading at $0.47.

A bit of good news for investors is that its Relative Strength Index is within an ascending support line which denotes a bullish signal for the asset that is the subject of an ongoing court battle between Ripple Labs and the U.S. Securities and Exchange Commission.

Ripple Focusing On Development To Help XRP

Despite being in a long-standing legal tussle, Ripple is turning its focus to network development activities that will help XRP recover from its losses.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

The company recently announced the launching of its third wave of $250 million creator fund which is open for all creators of both digital and physical non-fungible tokens (NFTs).

Ripple said the application is open until December 30, 2022 and all interested applicants are welcome to try their luck for the millions worth of creator fund.

This is still in line with the company’s goal of increasing network activity of Ripple users and also underscores their interest to grow their NFT market.

Should Investors Buy XRP Today?

As the crypto is not moving much in terms of price range, investors might opt to buy right now and hold their tokens while waiting for the next bullish market rally.

XRP whales are doing the same, accumulating as much as they can even during the mini surge that helped the crypto space push its overall valuation back to over $1 trillion.

It is, however, important to note that addresses holding more than 10 million tokens have sold their XRP and trimmed their balances.

This would mean that while some big investors are buying, the others are selling, ensuring balance to the asset’s distribution.

Some analysts believe it is wise to hold the asset for now as the Ripple Labs is on the verge of finally winning its legal battle against SEC.

They are looking at this development as a catalyst to trigger an XRP rally that will finally break its bearish cycle.

Related Reading: Stellar (XLM) Could Grow Dim This Week, But Buyers Don’t Need To Back Down

XRP market cap at $23.6 billion on the daily chart | Featured image from The Daily Hodl, Chart: TradingView.com

Disclaimer: The analysis represents the author's personal views and should not be construed as investment advice.
Tags: altcoinbitcoinbtcbtcusdcryptocyrptocurrencyETHethereumethusdRipplexrp
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Christian Encila

Christian Encila

Freelance writing is Christian's other cup of tea. When not on his computer, he unwinds with a bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

Increase In Shiba Inu Burn Rate Does It Signify The Normal

Shiba Inu Observes Highest Rise In Burn Rate – Is This Normal?

15 hours ago
AAVE

AAVE Seeks Proposal To Clear Itself Of Bad Debt – Can It Overcome These Obstacles?

15 hours ago
Litecoin

Litecoin (LTC) Displays Consolidation – Can We Expect A Reversal Soon?

21 hours ago
Digital assets got government support in 2022

Digital assets got government support in 2022

22 hours ago
Fasttoken (FTN) Secures Multi-Million Dollar Investment to Advance Its Web 3 Ecosystem

Fasttoken (FTN) Secures Multi-Million Dollar Investment to Advance Its Web 3 Ecosystem

1 day ago
U.S. Government Releases Roadmap To Mitigate Crypto Risk For Investors

U.S. Government Releases Roadmap To Mitigate Crypto Risk For Investors

2 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Fantom (FTM) founder makes announcement as they complete 100% rally, Solana (SOL) development updates & Why investors are flocking to Snowfall Protocol (SNW)

January 29, 2023

Dogecoin (DOGE) and Axie Infinity (AXS) Don’t Offer The Same 1000x Potential As Snowfall Protocol (SNW) According To Market Analysts

January 29, 2023

Crypto Market News Live: Aptos Soars Another 60% This Week in A Continued Price Rally, PancakeSwap Burns $100m Worth Of CAKE, Snowfall Set to Moon After Exceptionally Successful Presale Campaign

January 29, 2023

BudBlockz’s 220% Growth Puts It Ahead of Dogelon Mars and Floki Inu

January 28, 2023

MATIC Gains Over 20% As Polygon Network Records Biggest Whale Transaction Of 2023

January 28, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.