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XRP Price Prediction: Ripple Trades Near Make-or-Breaks Levels

Ripple is consolidating above the $0.440 support against the US Dollar. XRP price could recover if it clears the $0.480 resistance zone.

  • Ripple started a fresh decline from the $0.5380 zone against the US dollar.
  • The price is now trading below $0.500 and the 100 simple moving average (4 hours).
  • There is a key contracting triangle forming with support near $0.450 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
  • The pair might decline further if it stays below the $0.480 and $0.500 resistance levels.

Ripple Price Drops To $0.44

After a steady increase, Ripple’s XRP faced sellers near the $0.538 level against the US Dollar. A high was formed near $0.5382 and the price started a fresh decline, similar to Bitcoin and Ethereum.

There was a clear move below the $0.520 and $0.500 support levels. The price even declined below $0.450 and tested $0.440. A low is formed near $0.4403 and the price is now consolidating losses. It is now trading below $0.500 and the 100 simple moving average (4 hours).

There is also a key contracting triangle forming with support near $0.450 on the 4-hour chart of the XRP/USD pair. Initial resistance is near the $0.464 zone or the 23.6% Fib retracement level of the downward move from the $0.5382 swing high to the $0.4403 low.

XRP Price Prediction

Source: XRPUSD on TradingView.com

The first major resistance is near the $0.490 level or the 50% Fib retracement level of the downward move from the $0.5382 swing high to the $0.4403 low. A successful break above the $0.490 and $0.500 resistance levels might send the price toward the $0.5252 resistance. Any more gains might send the price toward the $0.5380 zone.

More Losses in XRP?

If ripple fails to clear the $0.490 resistance zone, it could continue to move down. Initial support on the downside is near the $0.452 zone.

The next major support is near $0.440. The main support is near $0.400. If there is a downside break and a close below the $0.400 level, XRP’s price could extend losses. In the stated case, the price could test the $0.365 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.450, $0.440, and $0.400.

Major Resistance Levels – $0.490, $0.500, and $0.538.

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Crypto Analyst Explains Why XRP Will Not Fall To $0.10

XRP price is trading sideways alongside most cryptocurrencies in the market today. The coin had been trading above $0.5 until April 21, when a bearish wave pushed it below $0.45 to $0.43. The token has witnessed a slight recovery above $0.46 today.

As a result, crypto enthusiasts fear a further decline in XRP. Notably, a prominent crypto analyst shared a post responding to his friend’s forecast of XRP slumping to $0.10, but Egrag’s response was that technical indicators on XRP price don’t support such a price decline. 

No Technical Indicator Supports Dropping To $0.10, Says Egrag

The ongoing market-wide downturn has caught up with XRP, its price has been gaining momentum over the past few weeks. The coin succumbed to the bearish trend, pushing it to lose its past week’s gain by 9.87%. This downturn has stirred reactions among the crypto community, with people, including Egrag’s friend speculating a drop back to $0.10.

However, Egrag reacting to his friend’s forecast, said it was a wrong call. The analyst shared some technical insights for XRP in response to the friend’s prediction. Egrag noted that XRP’s movements aligned with his predetermined technical indicators like the Fibonacci targets. And no technical indicator or Fibonacci targets support the idea of Ripple’s native coin price correction to $0.10.

Egrag said his friend’s forecast seems more like a personal speculative opinion than an analytic insight. He further noted that while a price correction to $0.10 is possible, the probability is slim and not as low as his friend speculates. Nevertheless, sudden regulatory enforcement could stir up such a price drop for XRP.

Egrag argued that while crypto assets have some immunity against bearish economic events, their prices are still susceptible to unforeseen occurrences. Therefore, any notable XRP price decline to $0.10 would rather be due to a regulatory action instead of mere market forces. 

So, Egrag concluded that a price fall to $0.10 for XRP is technically impossible without unfair regulations. He encouraged the XRP Army to remain steadfast in support of the token as a significant price correction presents a buying opportunity.

XRP Price Outlook

Meanwhile, the XRP community anticipates the summary judgment for the Ripple vs. SEC lawsuit regarding the token’s status as a security. 

Related Reading: Shiba Inu Gets Stuck In Price Range – Will SHIB Break Free?

Experts speculate the outcome of this lawsuit will cause a notable change in the crypto market. Attorney John Deaton, Amicus Curiae in the XRP lawsuit, forecasted that a ruling might come before May 6. 

XRP price often surged when Ripple hit some breakthroughs in the lawsuit. However, at press time, XRP is trading at $0.465, indicating a minor price recovery.

This Expert Claims XRP Might Slide To $0.10, But There's A Catch

The token has surrendered its 14-week price gains by 8.6%, with a seven-day price decline of 11.3% due to the market-wide onslaught. XRP’s current price move aligns with Egrag’s previous prediction that the token could pull back between $0.43 and $0.48.

Featured image from Pixabay and chart from Tradingview

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XRP Correction Continues: Elliott Waves Theory Predicts Wave 2 At $0.38

Since reaching its yearly high of $0.5842 on March 29th, XRP has experienced a significant price drop. The token has lost its bullish momentum and failed to breach higher levels, disappointing investors who were optimistic about the uptrend of one of the largest cryptocurrencies in the market.

It is worth noting that XRP’s recent price drop is part of a wider market correction affecting the entire cryptocurrency market. Despite this, trader and crypto analyst “Dark Defender” believes that there is still further correction ahead for XRP.

No Signs Of Recovery For XRP?

On April 1st, Dark Defender made a bold prediction for the price of XRP based on Elliott Waves theory. According to Dark Defender, the token completed its first wave (W1) at around $0.59 and is expected to enter a second wave (W2) that will find support between $0.48 and $0.38.

XRP

As of now, there have been no changes to Dark Defender’s prediction, and XRP remains in correction unless it breaks its resistance level of $0.59 and stays above it for three consecutive days. Dark Defender has provided a list of support levels for XRP, including $0.4812, $0.45544, $0.42044, and $0.38813. The analyst believes that XRP will finish this last correction at one of these levels before targeting the $3 mark. 

Furthermore, the analyst has provided a bullish prediction for XRP’s future, stating that the third wave (W3) of this structure is expected to reach between $2 and $3.47 by the end of this year. However, this wave 3 above $1.33 will be the predecessor of the Grand Wave 3. In scenario 2, Dark Defender predicts that XRP will continue to rise in value.

As of this writing, XRP is currently trading at $0.4582, which represents a drop of over 2.6% in the last 24 hours. On wider time frames, the token has recorded significant drops of 11% and 9.2% in the seven and fourteen-day time frames, respectively. This means that if Dark Defender’s prediction is correct, XRP may still have plenty of downtrends to experience, potentially reaching the lower lows of March 21st at $0.380.

XRP’s Wide Adoption Continues To Increase

XRP has been gaining traction in recent months, with its unique utility in cross-border payments attracting attention from financial institutions and investors, which has been raising with its continuous innovations to provide a better service to its users. 

According to pro-XRP lawyer John Deaton, Uphold, a digital platform that allows users to buy, sell, and hold various cryptocurrencies and traditional currencies, currently holds $1.04 billion in XRP, making XRP the single largest asset holding on the platform. This amount is significantly greater than Uphold’s Bitcoin holdings, which currently stand at $131 million.

In addition, the token volume accounted for 28.33% of total transactions on Uphold’s platform. This indicates a growing demand for XRP among Uphold’s user base and suggests a positive outlook for the cryptocurrency’s future growth and adoption.

XRP

Featured image from Unsplash, chart from TradingView.com 

 

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XRP Bulls Try To Break Consolidation At $0.4 To Conquer New Levels

XRP bulls are trying to ride the wave along with Bitcoin to reclaim previously lost territory. The bulls are targeting new annual highs.

XRP has been trading in the green zone since the beginning of the year with a strong recovery and bullish sentiment from its investors. At press time, XRP is trading at $04.96, representing a gain of 0.78% in the last 24 hours. The token is auctioning 34% below its 2018 high of $3.40.

Can XRP Sustain Its Bull Streak?

XRP started the year with a spike in volatility that characterized the market and has been able to profit 11.85% in the last 30 days, pushing its market cap to $20.6 billion. 

In addition, the trading volume that XRP has experienced in recent days and weeks and the profitable trend of XRP shows that market makers are involved in the project. According to a recent report from NewsBTC, it’s possible to assume that  XRP whales are once again buying and accumulating the token. 

This increase in activity in the XRP Ledger’s native token suggests that more wallets are being created with large amounts of XRP. While the perspective of many investors may be bullish, we can also find traces that lead us to consider a bearish scenario. 

XRP can break the trend line that touches three key levels and continue its bullish trend to find a position in the following challenge represented by $0.5.

XRP Heaven or Hell Levels

Despite the breach of previous target zones, there are strong signals that XRP’s bullish days may be numbered. The current market scenario, where some tokens are consolidating or forming a range price, suggests that the price action can explode in any direction.

As with any pivotal moment in the market, this leaves XRP with two scenarios, which are explained in the following chart:

XRP can break the trend line that touches three key levels and continue its bullish momentum to find a position in the following challenge represented by $0.5.

XRP XRPUSDT

On the daily chart above, XRP has formed a bearish divergence, which may represent a significant pullback for the token. The Relative Strength Index (RSI) sits at 42.51, approaching oversold territory, but for XRP, there needs to be a correction in the daily time frame before the price action can follow the RSI indicator.

If this is confirmed, XRP could significantly retreat to the $0.36 support level. If the bulls cannot stop this hypothetical scenario, the token may also lose territory and test the $0.288 level. 

In short, XRP needs to find its momentum before a significant correction of the token and the cryptocurrency market, with Bitcoin (BTC) and Ethereum (ETH) forming bearish divergences on the daily charts.

Confirmation of the bearish divergences for XRP will be complete when the price action breaks below $0.379. In that case, bears may find themselves in the perfect scenario to ride down the hill to visit lower prices. If XRP’s downturn continues, it could retest $0.33, the following primary support line for the token.

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XRP Whales Accumulate Massive Tokens – Is A Bull Run Coming?

The XRP price dipped in 2022 during the crypto winter, and the back-and-forth legal exchange between Ripple Labs and the U.S. Securities and Exchange Commission has not helped matters.

However, the token is still attracting interest from whales and institutional investors. XRP still has a chance of recovery, which seems to be the motivation behind the whale mass acquisition of the token.

Whales Seize The Dip

WhaleAlert reported that whales had moved 128 million-plus XRP worth close to $53 million in the last day. The largest whale activity recorded in that period was the movement of 35 million XRP worth around $15 million to the Bitstamp exchange. 

According to the data, whales have purchased up to 69 million XRP tokens in 24 hours. The first accumulation noted by Whale Alert is the addition of 33 million XRP (approx worth above $13 million) to a Bitstamp address.

Another large whale accumulation was 36 million tokens sent to a Bitstamp address worth 14,972,855 USD at the time of the transaction.

Whalestats also reports that XRP was the most traded token among the top 100 BSC whales. The top 100 whales on this list currently hold more than $28.6 million worth of XRP, which accounts for 2.5% of their entire portfolio.

Over the past few days, there has been increased whale activity on the XRP network. WhaleAlert reported massive transfers exceeding 600 million XRP tokens between anonymous whale addresses. The whale transfers come amid rising crypto inflows from investors since the beginning of the year.

A single transaction, as reported by WhaleAlert, carried 254,594,795 XRP, which amounted to $107,778,830 between two unnamed whale addresses. Another was about 221,500,500 XRP worth $89,110,472 from an unknown whale address to a Bittrex-linked wallet. Each of the transfers occurred in single transactions.

Ripple Versus SEC: Is The End In Sight?

The ongoing legal drama between Ripple Labs, Ripple (XRP) developers, and the SEC will likely end in 2023. Brad Garlinghouse, head of Ripple Labs, said he hopes for a conclusion in the ongoing saga in the first half of 2023.

The SEC sued Ripple Labs in 2020 for selling XRP tokens to the public, which it says were unregistered securities. The SEC has repeatedly classified XRP as securities, with the Ripple defense team objecting to the idea. Garlinghouse stated that the judgment would take some time, but his confidence in Ripple’s chances of a victory is high.

However, he emphasized that a settlement is unlikely since SEC chairman Gary Gensler has labeled all cryptos as securities. Both parties have completed the final step in their motion for summary judgment and are now anticipating the court’s decision.

XRP Whales Accumulate Almost 60.2 Million Tokens, Is A Bull Run Coming?

Meanwhile, the lead counsel to the defendant in the XRP case, Stuart Alderoty, said the lawsuit’s outcome would define what tokens are securities in the crypto space. He added that the ruling would impact crypto asset regulations in the industry.

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XRP Price Prediction: Key Upside Break Could Trigger Rally To $0.5

Ripple is rising steadily above the $0.380 resistance zone against the US Dollar. XRP price could rise further if it clears the $0.4320 resistance zone.

  • Ripple is currently rising above the $0.38 resistance zone against the US dollar.
  • The price is now trading above $0.380 and the 100 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $0.3960 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could rally further if there is a clear move above the $0.4320 resistance zone.

Ripple Price Starts Steady Increase

After forming a base above $0.32, ripple’s XRP started a steady increase against the US Dollar. The price climbed above the $0.35 resistance zone to move into a positive zone.

The bulls pushed the price above the $0.365 level and the 100 simple moving average (4-hours). The increase was such that xrp price even surged above the $0.40 level. It traded to a new yearly high at $0.4324 and is currently consolidating gains, similar to bitcoin.

The price is now trading above $0.380 and the 100 simple moving average (4-hours). There is also a key bullish trend line forming with support near $0.3960 on the 4-hours chart of the XRP/USD pair. The pair is stable above the 23.6% Fib retracement level of the upward move from the $0.3655 swing low to $0.4324 high.

Ripple Price

Source: XRPUSD on TradingView.com

An immediate resistance is near the $0.432 zone. The next key resistance is near the $0.45 level. A successful break above the $0.450 resistance might send the price towards the $0.480 resistance. Any more gains might send the price towards the $0.50 level in the coming sessions.

Dips Limited in XRP?

If ripple fails to clear the $0.432 resistance zone, it could start a downside correction. An initial support on the downside is near the $0.416 level.

The next major support is near $0.400 and the trend line. It is close to the 50% Fib retracement level of the upward move from the $0.3655 swing low to $0.4324 high. If there is a downside break and close below the $0.40 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.365 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.416, $0.400 and $0.392.

Major Resistance Levels – $0.432, $0.450 and $0.480.

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XRP Transactions Skyrocket In Australian Top Exchanges

Ripple has reached a new milestone in Australia with its native token, XRP, recording the highest trading volumes on exchanges. With this, Ripple now dominates Australian crypto exchanges as the XRP community anticipates a final court ruling in the lawsuit with the U.S. SEC (Securities And Exchange Commission).

The news came from Financial Review, an Australian media outlet shared on Twitter by Neil Smith, Ripple’s partner engineer, and Aussie firm, Blockchain Australia.

Reason For XRP Performance In Australia

According to the report, Ripple’s cross-border remittance payment (ODL) use case adoption gets the credit for this achievement. Ripple on-demand liquidity makes XRP suitable for cross-border payments as it helps customers access liquidity using this token.

 XRP itself serves as a bridge token between fiat currencies. It allows users to make payments in local currency at the payment destination within seconds, hence the name, on-demand liquidity.

Following the report’s details, Ripple’s native coin contributed to 62% of the trading volumes on the BTC Market, a Melbourne-based exchange. It also accounted for 82% of the Independent Reserve Exchange over the past day. 

CEO of BTC Markets Caroline Bowler said her crypto exchange is a Ripple on-demand (ODL) liquidity partner in Australia. That explains XRP’s dominance in the exchanges’ trading volume.

According to Bowler, Ripple ODL helps firms to run cross-border payments without incurring banking or pre-funding costs. It uses Ripple’s native coin to power part of the process, which explains the trading volumes on the BTC Market platform.

As Bowler further explained, Ripple’s native coin shares a higher percentage on their platform while the overall transaction volumes in the crypto market remain down.

Meanwhile, XRP transactions score a 24-hour volume of $10.2 million on the Sydney-based crypto exchange, Independent Reserve.

This number is more than other countries’ trading volumes put together. CEO of Independent Research, Adrian Prezelozny, said market makers and international remitters on the ODL network are part of their XRP trading clients.

Status Of Long-Standing Ripple/SEC Lawsuit

While XRP scores these wins in Australia, Ripple is still in a legal battle with the SEC over the token’s status as a security. According to Stuart Alderoty, chief attorney for Ripple in the lawsuit, the outcome will significantly impact the entire cryptocurrency market. 

Bloomberg also stated that the soon-to-come ruling would clarify who should handle crypto oversight. It would also define assets that qualify as securities or those that do not.

Both parties in the Ripple case have filed motions for summary judgment. According to Brad Garlinghouse, Ripple’s CEO, and Stuart Alderoty, the ruling is expected to come in the first half of 2023.

James K. Filan said the court ruling might go as early as March. Irrespective of the time, Alderoty believes it will impact the future of the crypto industry in the United States.

XRP Transactions Skyrocket In Australian Top Exchanges

Meanwhile, XRP is still on its way up and currently trading at $0.3933, with slight gains on the chart.

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Whales Move Billions Of XRP Following Price Spike

The broader cryptocurrency market has seen improvement in investor sentiment in the last weeks, and so has XRP. Even the global crypto market cap is up by 0.11%, reflecting the rate at which most tokens are rallying over the past few days.

A recent WhaleAlert report reveals massive XRP whale transfers happening amid the token’s price surge. The report showed the movement of nearly 429 million tokens (about $167 million) on multiple whale addresses in the last 24 hours.

According to the WhaleAlert, the largest single whale transaction was a transfer of 209 million XRP worth approximately $81 million. The crypto whales added $49 million (about 123 million XRP) in multiple transactions. One whale address accumulated 94.3 million tokens ($38 million) in a transaction from Binance.

XRP Makes Top 1,000 BSC Whales List Following Price Surge

Ripple’s native cryptocurrency, XRP, has recorded a price increase of nearly 12% in the past seven days. Its trading volume has also added by 55% and is now at $1.3 billion. Despite the long-running lawsuit from the SEC against Ripple, XRP’s market cap remained unfazed, being over $19.5 billion.

However, WhaleAlert recorded outflows of Ripple’s native coin on several whale addresses. Several whales moved 97 million of Ripple’s native coin worth approximately $37 million to the Bitstamp crypto exchange.

Aside from the massive whale addresses activity, WhaleStats also reported that XRP tokens ranked the second largest cryptocurrency by dollar value held by the top 1,000 BSC (Binance Smart Chain) whales. The biggest BSC whale now holds about $27.6 million worth of the cryptocurrency.

According to recent data, XRP secured its place on the top 10 purchased cryptocurrencies by the largest BSC whales. It also made the list of the most traded token by BSC whales.

ChatGPT Gives Surprising XRP Price Prediction For March 2023

Meanwhile, Dr. Martin Hiesboeck, head of research at Uphold, recently shared a ChatGPT conversation on Ripple’s native coin via a tweet. ChatGPT is an AI model chatbot developed by OpenAI. It launched on November 2022.

Martin Hiesboeck shared a snapshot of his conversation with the ChatGPT, where he asked the robot about XRP’s moon date. After refusing to answer initially, ChatGPT told the Uphold executive that Ripple’s native coin would moon on March 23, 2023. It also added what looked like a price prediction saying, “XRP to $589,000, up yours XRPP.”

This response cracked members of Ripple’s native coin community up with laughter. Some community members responded with laughter emojis, while few saw it as a forecast that the XRP price might moon. Hiesboeck even wrote that the all-knowing AI ChatGPT has revealed when the token will moon after much persuasion.

John Deaton, blockchain enthusiast and founder of CryptoLaw, also reacted to Hiesboeck’s post, citing what people said about the $589,000 price for Ripple’s native coin. Many predictions have suggested that the crypto may hit the $100 but deemed the $589,000 price unrealistic.

Some say Ripple’s native coin would need to rally almost 200 million percent from its current price before reaching $589,000. However, most analysts might be waiting for the verdict of the Ripple/SEC lawsuit before making predictions.

Whales Move Billions Of XRP Following Price Spike

According to data from CoinGecko, Ripple’s native coin has gained 11.4% in the past seven days and 13.5% in the past 14 days. However, the token trades at $0.3876.

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XRP Price Goes Upward With Increasing Whale Activity

The crypto market is still facing a declining effect from the raging crypto winter, but  XRP is faring on the daily chart. Since last year, several crypto assets have been struggling to stay afloat as the prices of tokens fluctuate. Unfortunately, the overall outcome has not impressed many crypto participants and investors.

But the new year is bringing a positive turn in the crypto market. Some crypto tokens have started reclaiming their value over the past seven days. For example, XRP has taken a more vital route as it joins the train of bullish tokens for an upward move.

XRP Price Trends Upward

In a new development, the price of XRP surged impressively within a few days. As per data from Coincodex, XRP rose by approximately 10% in the past seven days.

Further, Santiment, an on-chain data provider, reported that cryptocurrency’s recent reclaim in value is due to increasing active addresses.

According to the data provider, XRP recorded about 41K active addresses on January 8, 2023. But the number surged rapidly within the next few days. As a result, the active addresses have grown to over 148K since January 12, 2023. This shows an addition of over 107K active addresses, representing over a 200% increase in less than seven days.

Whales Show Increasing Activities

Additionally, XR´whales have been engaging massively in transactions, as per WhaleAlert, a crypto data provider. It noted that within the past 24 hours, whales had moved about 193 million XRP worth almost $70 million cumulatively.

One of the most significant single transactions is a whale’s purchase of 41 million tokens from the Bitso crypto exchange. The tokens are worth more than $15.2 million in the current market price.

Also, WhaleAlert reported a transfer of 28 million XRP worth $10.55 million from an unknown whale wallet. In addition, another transfer of 40 million XRP worth $15.07 million from an anonymous wallet. These transactions moved the funds to Bitso and Bitstampc crypto exchanges, respectively.

The report disclosed that whales transferred up to 88 million tokens to several crypto exchanges in the past 24 hours. 29.1 million XRP tokens went to the Bitstamp crypto exchange within the past day.

Ripple XRP

On the other hand, the whales purchased 45.2 million XRP tokens from Bitso over the past 24 hours. The value of the total coins is almost $30.7 million based on the current market prices.

Ripple (XRP) Price Performance

The recent bullish trend for XRP indicates a turning for the crypto asset. The coin exhibited impressive volatility, pushing the token to cross its $0.33 support level.

XRP Price Goes Upward With Increasing Whales Activity

At the time of writing, XRP is trading at $0.3766. Currently, the market cap sits at $18.61B, and its dominance is 2.12%.

According to CoinMarketCap, XRP recorded $1.33 billion in its 24-hour trading volume. This is showing a rise of 5.99% in the past day. Also, in the past 24 hours, its hit $0.3783 and $0.3659 as high and low prices, respectively. Featured image from Pixabay, charts from TradingView.com, Santiment.net

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XRP Tops List Of Gainers As Whale Interest Spikes

XRP has been on the front lines of crypto news for the past couple of weeks as Ripple’s lawsuit with the Securities and Exchange Commission (SEC) heats up. The increased attention has translated to more market movement, and whales are looking to take advantage of this.

Whales Move Into XRP

XRP’s trading volume saw a spike on Tuesday following the upward rally in the crypto market. This saw an increase in the price of the digital asset but perhaps most important for the day was the fact that Binance Smart Chain whales were actually more interested in the coin.

Whale tracking website WhaleStats reported that XRP had become the most traded token among the top 100 BSC whales for the day. It dethroned AAVE which had previously dominated the attention of these large whales to achieve this feat.

Now, the increased interest from these whales has not died down yet because while XRP is not currently the most traded token, it is still a top 10 token for them. It features in the fourth spot of most purchased tokens for the largest BSC whales.

Additionally, the XRP smart contract is one of the top 10 most used smart contracts among the top 100 BSC whales.

XRP price chart from TradingView.com

Jumping In Front Of Crypto Market Gains

There are still residual market gains from the Monday price surge in the crypto market and XRP is one of the tokens soaking up the gains. It is currently one of the top gainers over the last 24 hours, placing third on the Coinmarketcap list of gainers with a 4.34% increase in the last day.

XRP gainers

This increase in price has now pushed the price of XRP above its 20-day moving average. The breakpoints to a short-term bull trend for the digital asset, at least for the week. The most important now is for the digital asset to break the resistance at $0.037, as this will propel it above its 50-day moving average of $0.379. Once this is achieved, then a rally above $0.4 will be locked in for the cryptocurrency.

An event that could likely prove volatile for the XRP price is another hearing set for January 19 in the Ripple v. SEC case. Both parties involved are required to file any objections to the non-parties’ motions by January 18. 

As for the final verdict for the case, Ripple CEO Brad Garlinghouse and lawyer Stuart Alderoty both expect a decision from Judge Analisa Torres sometime in the second quarter of 2023.

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XRP Price Prediction: Bulls Could Aim $0.4 or Higher

Ripple is gaining pace above the $0.350 resistance zone against the US Dollar. XRP price could rise further if it clears the $0.3720 resistance zone.

  • Ripple is currently rising above the $0.35 resistance zone against the US dollar.
  • The price is now trading above $0.350 and the 100 simple moving average (4-hours).
  • There was a break above a crucial bearish trend line with resistance near $0.3495 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could rise further higher if there is a clear move above the $0.3720 resistance zone.

Ripple Price Extends Gains

After a sharp decline, ripple’s XRP found support near the $0.3000 zone against the US Dollar. The price formed a base above the $0.3050 level before it started a recovery wave.

There was a decent increase above the $0.3250 and $0.3300 resistance levels. Besides, there was a break above a crucial bearish trend line with resistance near $0.3495 on the 4-hours chart of the XRP/USD pair. The upward move gained pace above the $0.350 level.

The price is now trading above the 76.4% Fib retracement level of the main drop from the $0.3727 swing high to $0.3009 low. It is also trading above $0.350 and the 100 simple moving average (4-hours), outperforming bitcoin and ethereum.

An immediate resistance is near the $0.372 zone. The next key resistance is near the $0.390 level. It is near the 1.236 Fib extension level of the main drop from the $0.3727 swing high to $0.3009 low.

Ripple Price XRP

Source: XRPUSD on TradingView.com

A successful break above the $0.390 resistance might send the price towards the $0.400 resistance. Any more gains might send the price towards the $0.432 level in the coming days.

Fresh Decline in XRP?

If ripple fails to clear the $0.372 resistance zone, it could start a downside correction. An initial support on the downside is near the $0.355 level.

The next major support is near $0.345 and the 100 simple moving average (4-hours). If there is a downside break and close below the $0.345 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.325 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.355, $0.345 and $0.325.

Major Resistance Levels – $0.372, $0.390 and $0.400.

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XRP Whales Move Assets As Price Dips, What’s Next?

The crypto market is still recording the swings of the prevailing crypto winter, especially XRP. Most of the assets have not been impressive in their price movements. According to data from CoinMarketCap, the crypto market has pushed the cumulative market cap to around $812.00 billion. This indicated a drop of 0.88% over the past 24 hours.

With the declining market trend, XRP stands among the assets that have lost value. The price dip has attracted crypto whales. They have moved millions of XRP tokens to different crypto exchanges.

Whales Show Interest In XRP

According to WhaleAlert, an on-chain data provider, there have been several transactions involving XRP. It recorded that crypto whales have transferred about 385 million XRP to crypto exchanges within 24 hours. The cumulative tokens are worth almost $131 million in the current market prices.

The data provider noted that besides the most significant single transaction, many whales had moved about 70 million XRP tokens to several crypto exchanges. The value is worth about $25.6 million. The report indicated that most transfer transactions were on Bitstamp, costing $10.1 million. In addition, one of the whales moved XRP tokens worth about $11.8 million to the Bitso crypto exchange.

Also, an unknown crypto whale is reported to have purchased up to 35.1 million XRP tokens. The transaction occurred during this present XRP price dip through the Bitso exchange. As a result, the whale accumulated Ripple tokens worth about $11.8 million.

Notably, the largest single transaction from a whale, as recorded by the data provider, involved a transfer of over 280 million XRP tokens. The tokens are worth almost $95.4 million.

XRP Token Continues To Plummet

Ripple’s native token has not made any unusual movement recently. Instead, XRP has dropped by almost 12% over the past 30 days.

During today’s early trading hours, XRP dipped by 3%. At the time of writing, the token is trading at $0.3364. Also, XRP recorded about $691.2 million as its trading volume over the past 24 hours. Its market cap now sits at $16.93 billion, keeping the token at the 6th position in the CoinMarketCap ranking of crypto assets.

XRP Whales Moves Assets As Price Dips, What’s Next?

The price trend for XRP still has some elements of instability and uncertainty. Recall that over the past three days, XRP indicated slight volatility as the price climbed to around $0.35. The coin showed a considerable presence of the bulls through its price movement. However, XRP still couldn’t sustain the reclaimed value as the token fell to the $0.33 level.

A recent report disclosed that Ripple’s case with SEC might still last longer. Seven days ago, Ripple CEO Brad Garlinghouse estimated that the lawsuit might run for 3 to 4 months more but should end in Q1 of 2023. As the lawsuit is highly linked to XRP, analysts predict a change to a positive direction.

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XRP Price Prediction: Recovery Could Derail If This Support Gives Way

Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it stays below the $0.3720 resistance.

  • Ripple is currently recovering above the $0.355 resistance zone against the US dollar.
  • The price is now trading near $0.360 and the 100 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $0.3480 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a fresh decline if it breaks the $0.3550 support and pivot zone.

Ripple Price Attempts Recovery

After a major decline, ripple’s XRP found support near the $0.3320 zone against the US Dollar. The price formed a base above the $0.3320 level before it started a recovery wave.

There was a decent increase above the $0.3450 and $0.3500 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $0.3480 on the 4-hours chart of the XRP/USD pair. In the past few sessions, xrp price gained pace above the $0.3550 resistance zone, outperforming bitcoin and ethereum.

The price even spiked above the 50% Fib retracement level of the key decline from the $0.3965 swing high to $0.3320 low. The price is now trading near $0.360 and the 100 simple moving average (4-hours).

An immediate resistance is near the $0.370 zone. The next key resistance is near the $0.372 level. It is near the 61.8% Fib retracement level of the key decline from the $0.3965 swing high to $0.3320 low.

Ripple Price XRP

Source: XRPUSD on TradingView.com

A successful break above the $0.372 resistance might send the price towards the $0.400 resistance. Any more gains might send the price towards the $0.425 level in the coming days.

Fresh Decline in XRP?

If ripple fails to clear the $0.372 resistance zone, it could start a fresh decline. An initial support on the downside is near the $0.358 level.

The next major support is near $0.355. If there is a downside break and close below the $0.355 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.332 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.355, $0.332 and $0.320.

Major Resistance Levels – $0.370, $0.373 and $0.400.

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XRP Price Prediction: Bearish Continuation Below $0.33 Seems Likely

Ripple is consolidating below the $0.35 resistance zone against the US Dollar. XRP price could extend its decline if there is no recovery wave above the $0.35 barrier.

  • Ripple is currently consolidating below the $0.35 and $0.365 levels against the US dollar.
  • The price is now trading below $0.365 and the 100 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $0.3480 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a decent recovery if it clears the $0.350 resistance zone.

Ripple Price Faces Resistance

After struggling to clear the $0.40 resistance, ripple’s XRP started a fresh decline against the US Dollar. The price dropped below the $0.380 and $0.365 support levels to move into a bearish zone.

The price gained pace below the $0.35 support and settled below the 100 simple moving average (4-hours). The bulls finally appeared near the $0.332 level. A low is formed near $0.3321 and the price is now consolidating losses, just like bitcoin and ethereum.

Xrp price climbed a few points above the $0.340 level. An immediate resistance is near the $0.350 zone. There is also a key bearish trend line forming with resistance near $0.3480 on the 4-hours chart of the XRP/USD pair. The trend line is close to the 23.6% Fib retracement level of the downward move from the $0.3968 swing high to $0.3321 low.

A successful break above the $0.350 resistance might send the price towards the $0.365 resistance. It is close to the 50% Fib retracement level of the downward move from the $0.3968 swing high to $0.3321 low.

Ripple Price XRP

Source: XRPUSD on TradingView.com

The next key resistance is near the $0.372 level and 100 simple moving average (4-hours). Any more gains might send the price towards the $0.40 level in the coming days.

More Downsides in XRP?

If ripple fails to clear the $0.350 resistance zone, it could continue to move down. An initial support on the downside is near the $0.340 level.

The next major support is near $0.332. If there is a downside break and close below the $0.332 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.320 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.340, $0.332 and $0.305.

Major Resistance Levels – $0.350, $0.365 and $0.372.

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Whales Move Over 275 Million XRP Amid Price Surge

Amid the crypto winter and the Ripple lawsuit saga, XRP is breaking records with over a 4% price surge in 30 days. Unfortunately, the past 30 days have been terrible in the market after the FTX collapse, which broke down cryptocurrency values.

However, the low price period proved very beneficial to some fat wallet holders who seized the opportunity to accumulate more assets. Ripple’s native token, XRP, recorded more recovery than Bitcoin amid whale accumulations in the past 24 hours.

WhaleAlert reported that crypto whales moved over 275 million XRP tokens, worth more than $107 million, throughout the past 24 hours. The data also revealed that whales purchased over 113 million XRP, about $44 million, in the past 24 hours.

Is XRP Showing Signs Of Dominance Over Bitcoin?

Most of the transactions came from the Bitso crypto exchange, with the highest record being XRP tokens worth over $15.3 million. These movements saw a price surge in the XRP token, bringing over a 4% increase. However, Bitcoin trades at the $17,153 level, with a 3% dump in the last 30 days.

Around the same time, Ripple’s general counsel, Stuart Alderoty, announced the filing of their final briefing in the XRP lawsuit. The two-year-long legal tussle between the SEC and Ripple is approaching the summary judgment stage.

The crypto industry anticipates the outcome of the court’s ruling as it would affect the future of XRP and the broader digital assets.

If the SEC wins the case, XRP will be seen as a security, and other similar tokens may follow suit. Ripples believe the long-standing battle with the Securities and Exchanges Commission is a fight for the crypto industry.

However, Stuart Alderoty affirms that the Securities and Exchanges Commission holds no proof to satisfy its claims that XRP is a security. The attorney believes the defendants have an advantage over the commission in the case.

Whales’ Continuous Transfer Of XRP: Hold Or Sell signal?

Meanwhile, as the firm faces the watchdog in their lawsuit, whales continue accumulating more tokens. To book more profit as the token price surged, whales transferred over 162 million XRP, worth about $63.1 million, in the past 24 hours. On-chain data revealed that most tokens went to the Bitstamp crypto exchange.

The report shows that whales moved another 160 million of the token on Thursday as the Ripple/SEC lawsuit approaches the final round. In addition, more than 4 billion XRP tokens also went from Bittrex to an unknown wallet. Data revealed that the tokens are worth about $1.5 billion in total.

As large numbers of these tokens moved among exchanges and whale accounts, the token has continued to bag profits. As a result, the token now trades at $0.3872 with a live market capitalization of $19,477,214,657.

Whales Move Over 275 Million Ripple Tokens Amid Price Surge

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XRP Price Prediction: Bears Struggle, Time To Buy The Dip?

Ripple is consolidating above the $0.375 support zone against the US Dollar. XRP price could gain pace if it clears the $0.40 and $0.415 resistance levels.

  • Ripple is currently consolidating above the $0.375 and $0.380 levels against the US dollar.
  • The price is now trading near $0.388 and the 100 simple moving average (4-hours).
  • There is a key contracting triangle forming with support near $0.382 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a strong increase if it clears the $0.400 resistance zone.

Ripple Price Remains Supported

After forming a base above the $0.345 level, ripple’s XRP started a decent increase against the US Dollar. The price was able to surpass the $0.375 and $0.380 resistance levels.

The price even spiked above the $0.40 level and settled above the 100 simple moving average (4-hours). However, the bears were active near the $0.423 zone. A high was formed near $0.423 before there was a downside correction, just like bitcoin.

Xrp price declined below the $0.40 support and the 100 simple moving average (4-hours). There was a clear move below the 50% Fib retracement level of the upward move from the $0.3458 swing low to $0.423 high.

The bulls are now active near the $0.375 level. There is also a key contracting triangle forming with support near $0.382 on the 4-hours chart of the XRP/USD pair. The price is currently consolidating above the $0.375 and $0.380 levels.

Ripple Price XRP

Source: XRPUSD on TradingView.com

An immediate resistance is near the $0.400 zone. A successful break above the $0.400 resistance might send the price towards the $0.425 resistance. The next key resistance is near the $0.450 level. Any more gains might send the price towards the $0.50 level in the coming days.

Downside Break in XRP?

If ripple fails to clear the $0.400 resistance zone, it could start a downside correction. An initial support on the downside is near the $0.382 level and the contracting trend line.

The next major support is near $0.375. If there is a downside break and close below the $0.375 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.345 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now near the 50 level.

Major Support Levels – $0.382, $0.375 and $0.345.

Major Resistance Levels – $0.400, $0.425 and $0.450.

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XRP Price Prediction: Smashing This Resistance Might Trigger Rally

Ripple is showing positive signs above the $0.365 support against the US Dollar. XRP price seems to be eyeing a fresh rally towards the $0.48 level.

  • Ripple is slowly moving higher and trading above $0.35 against the US dollar.
  • The price is now trading above $0.380 and the 100 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $0.381 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a strong increase if it clears the $0.415 resistance zone.

Ripple Price Eyes Upside Break

After a strong decline, ripple’s XRP found support near the $0.320 zone against the US Dollar. The price started a decent increase above the $0.332 and $0.350 resistance levels.

The bulls were able to lift the price above the 23.6% Fib retracement level of the key drop from the $0.5098 swing high to $0.3200 swing low. xrp price is now trading above $0.380 and the 100 simple moving average (4-hours). There is also a key bullish trend line forming with support near $0.381 on the 4-hours chart of the XRP/USD pair.

It seems to be facing a major resistance near the $0.415 level. It is close to the 50% Fib retracement level of the key drop from the $0.5098 swing high to $0.3200 swing low. The next major resistance is near the $0.438 level.

Ripple Price

Source: XRPUSD on TradingView.com

A successful break above the $0.438 resistance might send the price towards the $0.465 resistance. The next key resistance is near the $0.480 level. Any more gains might send the price towards the $0.50 level in the coming days.

Dips Limited in XRP?

If ripple fails to clear the $0.415 resistance zone, it could start a downside correction. An initial support on the downside is near the $0.381 level, the trend line, and the 100 simple moving average (4-hours).

The next major support is near $0.350. If there is a downside break and close below the $0.350 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.320 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.381, $0.365 and $0.350.

Major Resistance Levels – $0.415, $0.438 and $0.480.

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XRP Price Prediction: Why The Bulls Could Aim Fresh Rally To $0.45

Ripple remained well bid above the $0.35 support against the US Dollar. XRP price seems to be eyeing a fresh rally towards the $0.45 level.

  • Ripple started a decent increase from the $0.32 support zone against the US dollar.
  • The price is now trading above $0.350 and the 100 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $0.374 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a strong increase if it clears the $0.400 resistance zone.

Ripple Price Eyes Fresh Increase

After a strong decline, ripple’s XRP formed a base above the $0.320 zone against the US Dollar. The price started a decent increase above the $0.335 and $0.340 resistance levels.

The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $0.5099 swing high to $0.3200 swing low. Besides, there was a break above a major bearish trend line with resistance near $0.374 on the 4-hours chart of the XRP/USD pair.

XRP is rising steadily above the 100 simple moving average (4-hours) and outperforming both bitcoin and ethereum. The price is now facing hurdles near $0.395 and $0.400. The first major resistance is near the $0.415 level.

The 50% Fib retracement level of the downward move from the $0.5099 swing high to $0.3200 swing low is also near the $0.415 level. A successful break above the $0.415 resistance might send the price towards the $0.450 resistance.

XRP Price Chart Ripple

Source: XRPUSD on TradingView.com

The next key resistance is near the $0.465 level. Any more gains might send the price towards the $0.50 level in the coming days.

Dips Supported in XRP?

If ripple fails to clear the $0.415 resistance zone, it could slowly move down. An initial support on the downside is near the $0.380 level and the 100 simple moving average (4-hours).

The next major support is near $0.345. If there is a downside break and close below the $0.345 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.320 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.380, $0.345 and $0.320.

Major Resistance Levels – $0.400, $0.415 and $0.450.

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XRP Price Holds Ground While BTC and ETH Slide, Here’s Breakout Zone

Ripple failed to clear $0.40 and corrected lower against the US Dollar. XRP price could start a decent increase if it stays above the $0.345 support zone.

  • Ripple started a fresh decline from the $0.40 resistance zone against the US dollar.
  • The price is now trading below $0.380 and the 100 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $0.371 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a strong increase if it clears the $0.388 resistance zone.

Ripple Price Remains Supported

This past week, ripple’s XRP attempted an upside break above the $0.40 resistance against the US Dollar. However, the bears remained active near $0.40 and pushed the price lower.

However, the recent decline was limited when compared to bitcoin and ethereum. The price declined below the $0.372 and $0.365 support levels. It traded as low as $0.3458 and is currently consolidating losses. It is trading below $0.380 and the 100 simple moving average (4-hours).

XRP price is now facing hurdles near $0.370. It is close to the 50% Fib retracement level of the downward move from the $0.3954 swing high to $0.3458 swing low.

There is also a key bearish trend line forming with resistance near $0.371 on the 4-hours chart of the XRP/USD pair. A successful break above the trend line resistance might send the price towards the $0.380 resistance or the 76.4% Fib retracement level of the downward move from the $0.3954 swing high to $0.3458 swing low.

XRP Price

Source: XRPUSD on TradingView.com

The next key resistance is near the $0.388 level. The main barrier is still near the $0.40 level. Any more gains might send the price towards the $0.45 level.

Dips Supported in XRP?

If ripple fails to clear the $0.388 resistance zone, it could slowly move down. An initial support on the downside is near the $0.345 level.

The next major support is near $0.332. If there is a downside break and close below the $0.332 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.320 support.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.345, $0.332 and $0.320.

Major Resistance Levels – $0.371, $0.388 and $0.400.

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SHIB, XRP Show Strength As Crypto Market Begins Recovery

Shiba Inu (SHIB) and XRP have shown strength in the present recovery in the market. The crypto market decline had been triggered by the FTX collapse, and even now, the negative effects are still being felt all across the space. However, it has also been a time for digital assets in the space to show their resilience. Currently, in the middle of the week, there is already recovery going on and these two digital assets have shown the most promise.

XRP Moves Into The Green

Like the rest of the crypto market, XRP had not been spared the wrath of the market as it reeled from FTX’s bankruptcy. The token had lost about 30% of its value during this time, finally losing its footing above $0.4. Nevertheless, it continues to put up a good fight, which has now seen the digital asset move into the green.

On a 7-day moving average, the majority of cryptocurrencies in the market are still in the red, some even up to double-digit losses, but XRP has managed to break out of this trend. The digital asset now sits neutral on a 7-day average while seeing minor gains on both the 24-hour and one-hour charts.

Data from Coinmarketcap shows that XRP’s price is up 2.33% in the last 24 hours with over 5% gains recorded for Tuesday alone. In the last hour, it is already up 1.18% and this brings it closer to $0.4 once more. If this trend continues, then XRP is likely to break above $0.4 before the close of the midweek trading day. A test of the $0.42 remains likely given the strength that the digital asset continues to show.

XRP price chart from TradingView.com

XRP trending at $0.37 | Source: XRPUSD on TradingView.com

There is a decline in the trading volume of the token over the last day which could work against this recovery, but a recovery above $0.4 would put it above its 100-day moving average, triggering buy signals across the board.

SHIB Is On The Mend

Just like XRP, SHIB is also showing very strong signals in the last day. After falling below $0.00001, the sell-offs has begun quickly, but even this would not last. SHIB is seeing good momentum on a 24-hour basis, although, unlike XRP, it is still recording losses on a 7-day moving average. Add to this that whale accumulation of SHIB is on the rise and it is a recipe for another rally.

A major Ethereum whale had been accumulating the meme coin over the last day and has added 653 billion SHIB ($6 million) to its balance during this time. It has dragged up the ranking of the meme coin to number 1 among the largest 5,000 ETH whales during this time.

SHIB burning has also ramped up during this time. A single wallet burned over 51 million SHIB, bringing the 24-hour burn figure above 53 million. The digital asset is also one of the most used smart contracts among the top 1,000 ETH whales.

If the accumulation and positive sentiment among whales towards SHIB continue, then the digital asset could see a price above $0.00001 once more before the week runs out.

Featured image from Coinmarketcap, chart from TradingView.com

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