XRP (XRP) Reviews for July 2022

Ripple (XRP) dropped to $0.30 on June 13, which is the pattern target of the break below the descending triangle. The bears pulled the price below the support on June 14 but the bulls purchased the dip as seen from the long tail on the day’s candlestick. The buyers are attempting to start a recovery that could reach the breakdown level of $0.38. If bears flip this level into resistance, it will suggest that the sentiment remains negative. The sellers will then try to resume the downtrend and sink the XRP/USDT pair to the next strong support at $0.24. On the contrary, if bulls drive and sustain the price above $0.38, it will suggest strong buying at lower levels. The buyers will then try to push the pair to the 50-day SMA ($0.45). The bears are likely to pose a strong challenge in the zone between $0.46 and $0.50.

Ripple (XRP) formed an outside-day candlestick pattern on June 7, with the price rebounding off the strong support at $0.38 and closing near the overhead resistance at the downtrend line. However, buyers could not build upon this move and push the price above the downtrend line on June 8. This suggests that bears continue to sell near resistance levels. The bears will again attempt to sink the price below $0.38. If they succeed, the XRP/USDT pair will complete a descending triangle pattern. That could result in a decline to the May 12 intraday low of $0.33. If this support cracks, the next stop could be the pattern target of $0.30. This negative view could be invalidated in the short term if bulls propel the price above the 20-day EMA. The pair could then rally to $0.46.

Although Ripple (XRP) dipped below $0.38 on May 26, the bears could not maintain the selling pressure. This started a recovery on May 28, which has reached the downtrend line. The bears have repeatedly mounted a strong defense at the downtrend line; hence, this is an important resistance to keep an eye on. If the price reverses direction from the downtrend line, the bears will try to pull the XRP/USDT pair below $0.37 and challenge the crucial support at $0.33. On the contrary, if buyers drive and sustain the price above the 20-day EMA ($0.43), it will suggest that the sellers may be losing their grip. The pair could then rally to the psychological level at $0.50.

The bulls are defending the immediate support at $0.38. Although Ripple (XRP) bounced off $0.39 on May 24, the bulls could not sustain the higher levels. The bears are again attempting to sink the price below the support at $0.38 but the long tail on the candlestick suggests strong buying at lower levels. If the demand sustains at higher levels, the bulls will attempt to push the price above the downtrend line and challenge the 20-day EMA ($0.46). On the contrary, if the price turns down from the current level or the downtrend line, the bears may again try to sink the XRP/USDT pair below $0.38. If they can pull it off, the pair could drop to the vital support at $0.33.

Ripple’s (XRP) recovery failed to sustain above $0.45, indicating a lack of demand at higher levels. The bears will now attempt to pull the price below the immediate support zone at $0.40 to $0.38. If they do that, the XRP/USDT pair could drop to $0.33. This is an important level to keep an eye on because a break and close below it could signal the resumption of the downtrend. The XRP/UDST pair could then plunge to the next support at $0.24. On the other hand, if the price rises from $0.38 or $0.33, the bulls will again try to push the pair above $0.45. If they succeed, the pair could rise to the stiff overhead resistance zone at $0.50 to $0.55. The bulls will have to clear this hurdle to suggest that the downtrend may be over.

The long tail on Ripple’s (XRP) April 18 candlestick suggests strong buying at lower levels. The price reached the 50-day SMA ($0.78) on April 19 but the bears are defending this level with vigor. If the price turns down from the current level, it will suggest that the XRP/USDT pair could remain range-bound between the 50-day SMA and $0.69 for some time. A break and close below $0.69 could open the doors for a possible drop to $0.60. Conversely, if the price turns up, the bulls will try to push and sustain the pair above $0.80. If they manage to do that, the pair could rise toward the overhead zone between the 200-day SMA ($0.87) and $0.91. The flat moving averages and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears.

Ripple (XRP) rebounded sharply off the strong support at $0.69, indicating strong demand at lower levels. The bulls pushed the price above the 50-day SMA ($0.78) on April 15 but could not continue the up-move. However, a minor positive is that the bulls are attempting to sustain the price above the 20-day EMA ($0.77). The flat 20-day EMA and the RSI near the midpoint suggest a balance between supply and demand. This balance will shift in favor of the bulls if the XRP/USDT pair rises and breaks above $0.80. That could propel the pair to the 200-day SMA of $0.88 and then to the strong resistance at $0.91. Contrary to this assumption, if the price breaks and sustains below the 20-day EMA, it will suggest that the bears are active at higher levels. The sellers will then attempt to pull the pair to the strong support at $0.69. The 4-hour chart shows that the bears are aggressively defending the overhead resistance at the 200-SMA but they have not been able to sink the pair below the 20-EMA. This suggests that bulls are buying on dips. The bullish momentum could pick up if the buyers drive the price above the 200-SMA. The pair could then rally to $0.85, where the bears may erect a stiff barrier. On the downside, a break and close below the 20-EMA could invalidate the bullish view in the short term and sink the pair to the 50-SMA.

Ripple (XRP) bounced off the strong support at $0.69 on April 12 but the bulls could not sustain the recovery. This indicates that the bears are active at higher levels. The inside-day candlestick pattern on April 13 suggests indecision among the bulls and the bears. The 20-day EMA ($0.77) is sloping down and the RSI is near 39, suggesting that the path of least resistance is to the downside. If the price breaks below the strong support at $0.69, the selling could pick up momentum. The XRP/USDT pair could then decline to $0.62. Conversely, if the price continues to move up, the pair will attempt to rise above the 50-day SMA ($0.78). If that happens, it will suggest that the pair could trade inside a large range between $0.69 and $0.91 for some more time.

Ripple (XRP) formed an inside-day candlestick pattern on March 30, which resolved in favor of the bears on March 31 with a sharp down move. This suggests that the buyers who may have purchased at lower levels closed their positions aggressively. The 20-day EMA ($0.82) is flattening out and the RSI has dropped close to the midpoint, suggesting that the bullish momentum may be weakening. If the price breaks below the 50-day SMA ($0.78), the XRP/USDT pair could slide to the next support at $0.70. Contrary to this assumption, if the price rises from the current level, the buyers will try to drive the pair above $0.86 and again challenge the resistance at $0.91. A break and close above this level could open the gates for a possible rally to the psychological level at $1.

Ripple (XRP) has been attempting to rise above the downtrend line for the past few days, but the bears have held their ground. A minor positive is that the bulls have not given up and are trying to defend the 50-day SMA ($0.72). The flattish moving averages and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If bulls push and sustain the price above the downtrend line, the momentum is likely to pick up, possibly rallying the XRP/USDT pair to $0.91. A break and close above this level could clear the path for a possible retest of the psychological resistance at $1. Conversely, if the price slips and sustains below $0.69, it will suggest that bears are back in control. The pair could then drop to $0.62. The 4-hour chart shows that the pair is currently range-bound between $0.80 and $0.70. If buyers push the price above the downtrend line, the pair could challenge the overhead resistance at $0.80. A break and close above this level could signal that the bulls have the upper hand. The pair could first climb to $0.85 and then to $0.91. Contrary to this assumption, if the price turns down from the moving averages, it will suggest that the bears are selling on rallies. The pair could then drop to $0.70. If this level cracks, the selling could accelerate and the pair could drop to $0.62.

Ripple (XRP) is facing stiff resistance near $0.85 for the past few days. The bears will now try to pull the price to the breakout level at $0.75. The moving averages have completed a bullish crossover and the RSI is in the positive zone, indicating that bulls have a slight edge. The buyers are likely to defend the 20-day EMA ($0.76) aggressively. If the price rebounds off this level, the bulls will again attempt to clear the overhead barrier at $0.85. If that happens, the XRP/USDT pair could rise to $0.91 and later to the psychological level at $1. This positive view will invalidate if bears sink and sustain the price below $0.75.

Ripple (XRP) broke and closed above the moving averages on Feb. 7, indicating that the downtrend could be coming to an end. The bears tried to pull the price back below the breakout level at $0.75 but the bulls thwarted their attempt. The price rebounded off $0.75 and the bulls are trying to push the XRP/USDT pair toward the overhead resistance at $1. A break and close above this resistance could open the doors for a possible rally to $1.41. The moving averages are on the verge of a bullish crossover and the relative strength index (RSI) is in the positive zone, indicating that buyers have the upper hand. This positive view will invalidate on a break and close below $0.75. Such a move will indicate that bears continue to sell on rallies. The 4-hour chart shows that the bulls and the bears are battling it out near the $0.82 mark. The bulls pushed the price above this level but the bears stalled the rally at $0.85 and have pulled the pair back below $0.82. A minor positive is that bulls are buying the dips to the 50-SMA. If the price rebounds off this support, the bulls will try to drive the pair above $0.85 and challenge the resistance at $0.91. Conversely, a break and close below the 50-SMA could pull the pair to $0.75. A break and close below this support could indicate the start of a deeper correction.

The latest bout of buying in the XRP market also appeared as the token retested its multi-month support trendline, as shown in the chart below. XRP now faces a resistance confluence ahead in the form of its 20-week (green) and 50-week (red) exponential moving averages (EMAs). Meanwhile, the two moving averages look poised to form a "death cross" should the 20-week EMA cross below the 50-week EMA - a classic sell signal. Nonetheless, a decisive, high-volumed close above the said EMAs may limit the selloff risks associated with the death cross. Moreover, an extended upside momentum may have XRP price retest its descending trendline resistance near $1.26, a 50% price increase from current levels.

Ripple (XRP) remains stuck between $0.54 and $0.65. The attempt by the bulls to start a relief rally could not even challenge the overhead resistance at $0.65. This indicates a lack of conviction among the bulls to buy at higher levels. The downsloping moving averages and the RSI near the oversold territory indicate that bears are in command. If the price breaks below $0.58, the XRP/USDT pair could drop to the strong support at $0.54. A break and close below this level could pull the pair to the psychological support at $0.50. This negative view will invalidate in the short term if the price turns up from the current level and breaks above the 20-day EMA ($0.66).

The long tail on Ripple's (XRP) Nov. 28 candlestick shows aggressive buying near the strong support at $0.85. The price has reached the psychological level at $1, which may now act as a resistance. If the price turns down from the current level, it will suggest that the bears have flipped the $1 level into resistance. The XRP/USDT pair could then drop to $0.85. A break and close below this level will signal the start of a deeper correction to $0.70. Alternatively, if the price rises above $1, the pair could rally to the 20-day EMA ($1.05). This level could again act as a stiff resistance but if bulls overcome this hurdle, the pair could rally to the 50-day SMA ($1.10).

Ripple to launch ‘Liquidity Hub’ for finance firms that want to offer crypto trading. The fintech firm wants to let its enterprise clients have access to cryptocurrencies through a new service called Liquidity Hub. Fintech firm Ripple has announced a new service aimed at finance companies that will allow them to offer cryptocurrency trading to customers. Ripple unveiled the Liquidity Hub service in a blog post on Tuesday, touting a “crypto-first future” in which every company will need to have a strategy for crypto assets. The new service will target its enterprise clients, giving them access to digital assets from a range of providers such as exchanges, market makers and over-the-counter trading desks. It is currently in the preview stage and will launch in 2022. Liquidity Hub will initially support Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH) and XRP with availability varying by geographical location, according to the announcement. The company plans to expand its crypto asset offerings and include other tokens, including nonfungible tokens, or NFTs, in the future. RippleNet general manager Asheesh Birla said that the company has been using this crypto sourcing technology to support its On-Demand Liquidity product for nearly two years. He added, “Our customers would want access to the same trusted one-stop-shop for buying, selling, and holding crypto assets that has powered our own extensive work with financial institutions.” America’s first licensed Bitcoin ATM company, Coinme, is the first partner for the alpha version of Liquidity Hub. Ripple is also delving deeper into decentralized finance, or DeFi, announcing plans to offer crypto staking and investment services. Birla added that it is only logical that clients will want the next generations of services after buying and holding Ether. On Saturday, Cointelegraph reported that Ripple will be supporting wrapped XRP (wXRP) on the Ethereum network, enabling holders of its native token to interact with DeFi protocols.The San Francisco-based fintech firm is still embroiled in an ongoing battle with the United States Securities and Exchange Commission. In the latest turn in the saga, Magistrate Judge Sarah Netburn has ordered the company to find and produce video and audio recordings of its internal meetings for evidence in the case. The financial regulator is suing Ripple and its executives for allegedly raising more than $1.3 billion through an unregistered securities offering.

Ripple (XRP) is stuck between the downtrend line and the $1 support as the bears are selling on rallies and bulls are buying on dips. The bulls tried to push the price above the downtrend line on Oct. 31 but the long wick on the candlestick shows selling at higher levels. The bears are attempting to sink the price below the moving averages as of Nov. 1. If that happens, the XRP/USDT pair could again drop to the strong support at $1. This is an important level to keep an eye on because a break below it may pull the price to $0.85. If bulls drive the price above the downtrend line, the pair could rally to the overhead resistance at $1.24. The flat moving averages and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears.

Ripple (XRP) bounced off the 20-day EMA ($1.06) on Oct. 12 but the bulls are finding it difficult to sustain the price above the 50-day simple moving average ($1.08). This suggests a lack of buyers at higher levels. If bears sink and sustain the price below the 20-day EMA, the XRP/USDT pair could drop to the psychological support at $1. A break and close below this level could intensify selling and sink the pair to $0.85. Conversely, if the price rises from the current level, the bulls will make one more attempt to push the price above the overhead resistance at $1.24. If they manage to do that, the pair could rally to $1.41.

Ripple and Nelnet launch $44M fund for carbon-negative crypto industry. Ripple has contributed the majority of a $44-million fund to support solar energy projects across the United States. Blockchain payments firm Ripple has announced a $44-million environmental, social and governance (ESG) joint venture partnership with fintech provider Nelnet Renewable Energy to fund the adoption of environmentally conscious solar energy initiatives across the United States. According to the announcement, the new fund is expected to offset over 1.5 million tons of carbon dioxide over 35 years, equivalent to the energy usage of 180,635 homes for one annum. In March 2021, Nelnet Inc. received a commendable E1 ESG accreditation from the S&P Global Ratings evaluation board for the former’s $9.9-million solar tax equity fund. The project entails the financial backing to build four photovoltaic solar projects in Upstate New York. The evaluation was assessed across three parameters of environmental priorities: transparency, governance and mitigation, for which the project scored 88, 86 and 80, respectively, out of a maximum of 100.

Ripple (XRP) has repeatedly bounced off the 100-day SMA ($0.88) in the past few days, indicating that bulls are aggressively defending the support. The bulls will now try to push the price above the overhead resistance zone between the 20-day EMA ($1.02) and the 50-day SMA ($1.10). If they manage to do that, it will suggest that the correction could be over. The XRP/USDT pair could then rise to $1.41 where bears may again mount a stiff resistance. The downsloping 20-day EMA and the RSI in the negative zone indicate that bears are in control. If the price turns down from the 20-day EMA, the pair could drop to the 100-day SMA. If this level holds, the pair may remain stuck between the moving averages for a few days. The next leg of the down move could begin if bears sink and sustain the price below the 100-day SMA. That could clear the path for a possible drop to $0.69.