Trading Veteran Says XRP Is Forming a Major Reversal Pattern

Ripple’s XRP went through a steep bull rally since the beginning of 2020 that saw its price surge by nearly 90%. Now, it seems the token has reached exhaustion and one of the most prominent technical analysts in the industry estimates that it could face a steep correction.  XRP Is on the Verge of a Major Price Movement Peter Brandt, a 45-years trading veteran, recently pointed out that a head-and-shoulders pattern could be developing on XRP’s 1-day chart. This technical formation is considered to be one of the most reliable…

XRP Price May Face 25% Drop if Recent High Breaks Down — Peter Brandt

XRP traders may be in for further losses as one trader warned that a bearish price feature was yet to complete its impact on the market. In a tweet on Feb. 20, Peter Brandt, well known as a trader of both cryptocurrency and traditional assets, said that a “head and shoulders” pattern in XRP/USD this month had the potential to send prices lower.  Brandt: “possibility” XRP goes to $0.20 XRP reached highs of almost $0.35 in recent days but subsequently fell conspicuously to press-time levels of close to $0.27. Brandt…

Ripple (XRP) Showing Signs of Weakness But $0.25 Holds The Key

Ripple failed to clear the key $0.3080 resistance and declined sharply against the US Dollar. XRP price is down 5%, but there are many key supports on the downside. Ripple price started a strong decline after it was rejected near the $0.3080 area against the US dollar. The price is down more than 5% and it is approaching the $0.2680 support area. There was a break below a key ascending channel with support near $0.2920 on the hourly chart of the XRP/USD pair (data source from Kraken). The price is…

BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK

Eurekahedge’s index of crypto hedge funds have clocked 21.15% returns since the start of 2020 and this is the best performance from the firm since the index started in 2013. Even in 2017, which was the blockbuster year for cryptocurrencies, the January returns were a modest 4.85%. If the crypto hedge funds maintain their stellar performance this year, they are likely to attract further investments in this space. Coinbase is now a Visa principal member, the first crypto pure-play company to receive the membership. This will help the company to…

Ripple’s XRP On Verge of Rally to $0.70 Because of 7 Technical Factors

After a brutal -50% performance against the U.S. dollar in 2019, Ripple’s XRP has mounted a strong recovery to start off this new year. Since bottoming around $0.17 in December, the price of the third-largest cryptocurrency has surged as high as $0.33 — a near 100% gain in eight weeks’ time. While XRP has since returned to $0.30, seeing a healthy retracement after the absolutely monumental performance seen, analysts are sure that more upside is likely for the prominent altcoin. NewsBTC has compiled seven technical factors laid out by top…

Ripple (XRP) Recovery Facing Key Hurdles: Can Bulls Outsmart Bears?

Ripple started an upside above the $0.2850 resistance area against the US Dollar. However, XRP price is still facing a couple of key hurdles near $0.3000 and $0.3080. Ripple price is currently correcting higher from the $0.2677 swing low against the US dollar. The price is trading above $0.2850, but it is still facing many key resistances. There is a key bearish trend line forming with resistance near $0.3000 on the hourly chart of the XRP/USD pair (data source from Kraken). The price struggle to continue above the $0.3000 and…

Stellar’s Jed McCaleb Says His XRP Sell-Off Won’t Disrupt Crypto Market

A recent Medium post from blockchain monitor Whale Alert showed that Stellar CTO Jed McCaleb sold off more than 1 billion XRP between 2014 and 2019. The post attempted to analyze whether or not McCaleb’s sale of XRP will affect the price of the crypto. Whale Alert noted that compared with other total trade volumes per day, the amount McCaleb is selling seems insignificant. Following up on this, McCaleb told Cointelegraph in an interview that it’s strange that so many people are focused on his recent trading of XRP, noting…

Ripple (XRP) Rally Remains Attractive To The Bears If Price Surges To $0.31

Ripple found support near $0.2680 and recovered slightly against the US Dollar. XRP price could continue to rise, but the bears are likely to protect the $0.3100 resistance area. Ripple price is slowly correcting higher from the $0.2677 swing low against the US dollar. The price is back above the $0.2800 area, but it lacks bullish momentum. Yesterday’s two connecting bearish trend lines were breached with resistance near $0.2865 on the hourly chart of the XRP/USD pair (data source from Kraken). The price could recover towards the $0.3000, $0.3050 and…

Ethereum, XRP, and Litecoin Could See Further Decline

Last week, the market began to overheat as greed took hold. Ethereum, XRP, and Litecoin saw losses in the subsequent sell-off. Indicators show further declines. Ether Prepares for Further Drop Ethereum saw its price skyrocket over 145% in the last two months. This cryptocurrency went from trading at a low of $117 in mid-December 2019 to a recent high of $287. During its run up, Ether encountered a small correction of 12% in mid-January. This retracement served as an opportunity for sidelined investors to get back into the market, later…