RIPPLE TECHNICAL ANALYSIS (XRP US DOLLAR)
Technical overview
Big picture
THEMES AFFECTING Cryptocurrencies
SPECIAL YEARLY FORECAST
Interested in yearly XRP/USD forecast? Our experts make yearly updates forecasting the next possible moves of the ripple-dollar pair. Here you can find the most recent forecast by our market experts:
XRP to see double-digit price and reduced regulatory uncertainty
Ripple ends 2021 on a strong note by establishing itself in the East despite the ongoing lawsuit in the US against the SEC. XRP price burned brightly in the first half of 2021 but its momentum appears to have vanished in the second half. Regardless of the lackluster performance, Ripple and its native token XRP have a bright future ahead of them in 2022.
Latest Ripple Analysis
Editors' picks
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin price reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum price holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple price coils up for a move north as XRP bulls defend $0.5000.
Jack Dorsey's Block is under investigation by US Prosecutors for crypto lapses, says NBC
According to a report from NBC on Wednesday, former Twitter CEO Jack Dorsey's company, Block, is under investigation by the US federal government. The allegations against the company are charges of processing transactions linked to sanctioned countries and even terrorists.
Ethereum attempts comeback after Fed decision not to tamper with rates
Institutional whales appear to be dumping Ethereum after recent dip. Fed’s decision to leave rates unchanged appears to have helped ETH's price recover slightly. SEC Chair Gensler has misled Congress, considering recent revelations from Consensys suit, says Congressman McHenry.
Solana price dumps 21% on week as round three of FTX estate sale of SOL commences
Solana (SOL) price is down almost 5% in the past 24 hours and over 20% in the last seven days. The dump comes as the broader crypto market contracts with Bitcoin price leading the pack as it slides below the $58,000 threshold to test the Bull Market Support Band Indicator.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
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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.
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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.