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XRP Price Analysis: What to Expect in the Next 48 Hours

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© Reuters. XRP Price Analysis: What to Expect in the Next 48 Hours

  • XRP experienced a 24-hour gain of 12.63% to take its price up to $0.3676.
  • XRP’s price is now up 9.60% over the last 7 days we well.
  • Given that the price of XRP is at a key level, we could see the price of XRP be pushed down by bears over the next 48 hours.

Ripple is a technology that has both a cryptocurrency (XRP) and a digital payment network for financial transactions. Co-founders Chris Larsen and Jed McCaleb first released it in 2012. Ripple’s main process is a payment settlement asset exchange and remittance system, similar to the SWIFT system for international money and security transfers, which is used by banks and financial middlemen dealing across currencies.

The token used for the cryptocurrency is pre-mined and utilizes the ticker symbol XRP. Ripple is the name of the company and the network, and XRP is the cryptocurrency token. The purpose of XRP is to serve as an intermediate mechanism of exchange between two currencies or networks – as a sort of temporary settlement layer.

InstrumentSignalProbabilityDate RangeOpen Price2% Stop LossEntrySupt 1Supt 2Supt 3RESIS 1RESIS 2RESIS 3
XRPUSDTSELL65.96%2022-06-24, 02:00:00 – 2022-06-26, 02:00:000.340.34680.3231750.3257000.3156000.3099000.3415000.3472000.357300

GB Market Analysis Software signals that XRP’s price will fall (Source: GreenBot)

The GB Market Analysis Software has signaled that the price of XRP may fall in the next 48 hours in the date range (2022-06-24, 02:00:00 GMT + 2 – 2022-06-26, 02:00:00 GMT + 2). The confirmation that the signal is playing out will be when the price of XRP falls to $0.323175. This is also the identified price entry for the trade.

The support levels for XRP/USDT identified by the GB Market Analysis Software are $0.3257 (first support), $0.3156 (second support), and $0.3099. Meanwhile, the resistance levels for XRP/USDT identified by the software are $0.3415 (first resistance), $0.3472 (second resistance), and $0.3573 (third resistance).

XRP Price: Current Market Standing

XRP (XRP) is ranked number 6 in terms of the biggest cryptocurrency by market cap, according to CoinMarketCap, and experienced a 24-hour gain of 12.63% to take its price up to $0.3676. This also puts its total market cap at approximately $17.71 billion.

Ripple’s price rise over the last 24 hours flipped the negative weekly performance of XRP as its price is now up 9.60% over the last 7 days we well.

Ripple has been in an ongoing lawsuit with the Securities and Exchange Commission (SEC) that seems to have turned in favor of Ripple. The final verdict for the lawsuit is expected to be delivered towards the end of this year.

In addition, the CEO of Ripple – Brad Garlinghouse, has hinted at future expansions for the project. It is believed that the expansion drive will include several strategic acquisitions and mergers.

In the latest news, the past few weeks saw Ripple press the SEC for the release of certain documents that informed a key speech made by William Hinman – a former chairman of the SEC.

However, the tables have now turned slightly since June 15 as the SEC is attempting to prevent Ripple from withdrawing certain potentially sensitive documents that are collectively referred to as “Exhibit O” in the case.

XRP Price: Technical Overview

Daily chart for XRP/USDT (Source: CoinMarketCap)

The daily chart for XRP/USDT shows that the price of XRP is at a key level. This is not only because XRP’s price is touching a key price level on the daily chart, but also because its price is above the 9 and 20 Exponential Moving Average (EMA) lines. These two lines have served as important levels of price continuation or reversal since the bear market started.

The 9 EMA line is positioned below the 20 EMA line, which indicates that XRP’s price is in a short- to medium-term bearish cycle. However, the 9 EMA line is closing the gap that exists between itself and the 20 EMA line, which could turn into a bullish flag if the two lines cross.

In addition, the Relative Strength Index (RSI) is positioned above the RSI SMA line and is closer to overbought territory than it is too oversold territory.

Lastly, XRP is also in a price channel at the moment with the lower bound lying at $0.3011 and its upper bound at $0.3785. If the 20 EMA line is unable to hold its support for XRP’s price, then the price of XRP could drop to the lower bound of the channel. If this happens, it will be a 20.4% move from current levels.

Given the signal from the GB Market Analysis Software and several other factors such as the price of XRP positioned at a key level as well as its price attempting to establish a position above the 9 and 20 EMA line, we may see the price of XRP drop in the next 48 hours.

Once again, confirmation of the signal playing out is the price of XRP reaching $0.323175.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Cryptocurrency

SEC Chair Gary Gensler calls Bitcoin a commodity

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© Reuters SEC Chair Gary Gensler calls Bitcoin a commodity

In an appearance on CNBC’s Squawk Box on Monday, SEC Chairman Gary Gensler said that Bitcoin was the only cryptocurrency he was ready to publicly call a commodity.

Gensler aired his views while examining the implications of classifying certain cryptocurrencies as commodities rather than securities. He also addressed previous calls to ramp up the commission’s regulatory oversight of the crypto market.

According to Gensler, all the main market regulators in the US agree that cryptocurrencies are highly speculative. “This is a highly speculative asset class. We’ve known this for a long time the ups and downs of this speculative asset class — Bitcoin and hundreds of other tokens,” he said.

He goes on to note that the investing public expects a return from most of these digital assets like they would when they invest in securities. As a result, Gensler concludes that most tokens in the crypto market have the “key attributes” of securities, thereby putting them under the purview of the Securities and Exchange Commission.

Interestingly, Gensler opined that Bitcoin and a few other cryptocurrencies could be considered commodities.

Some, like Bitcoin, and that’s the only one, Jim, I’m gonna say because I’m not going to talk about any one of these tokens but my predecessors and others have said they’re a commodity.

Meanwhile, he called for fair disclosures in the crypto market, noting that the US was open to having hundreds of tokens legally operating in its market if they complied with SEC laws.

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Ethereum liquidity provider XCarnival negotiates return of 50% stolen ETH

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Ethereum liquidity provider XCarnival negotiates return of 50% stolen ETH

XCarnival, a liquidity provider for the Ethereum ecosystem, recovered 1,467 Ether (ETH) just a day after suffering an exploit that drained 3,087 ETH, worth roughly $3.8 million, from the protocol.

Blockchain investigator Peckshield noticed the XCarnival hack as it came across a stream of transactions that eventually bled 3,087 ETH from the protocol. Explaining the nature of the exploit, Peckshield stated:

Flowchart showing the transfer of the stolen XCarnival funds. Source: Peckshield
ETH wallet balance of the XCarnival hacker. Source: etherscan.io

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Holonus to announce its listing on LBank

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© Reuters Holonus to announce its listing on LBank

Holonus – Blockchain-based Best Ecosystem Platform for Next Generation

Humanity in the coming future will need the economic sphere on the Internet more than ever, like the water, air and food – the most necessary things to live on earth.

In the context of people’s economic activities changing dramatically, such as earning money by playing games and gaining approval, it is essential for a solid base system to be created for people to engage in economic activities in this economic sphere with peace of mind.

Holonus is blockchain-based best ecosystem platform for the next generation with a view to creating an economic zone based on the decentralized autonomous organisation (DAO).

In economic design on the Holonus platform, participants are rewarded when they provide value.

The concept of Decentralized Autonomous Organization is to make sure that all participants receive a fair reward for the value creation they have done. Holonus frees people from a hierarchical structure that is a real-world organizational structure and realizes a true DAO economic zone.

Holonus will list on LBank exchange

On June 27, the project Holonus is going to announce its listing on Lbank with the trading pair HLN/USDT. LBank Cryptocurrency Exchange – is the world’s leading crypto trading platform providing safe and professional services for global crypto users.

Announcement time : June 27th – 4pm UTC+8

Deposit time: June 29th – 4pm UTC+8

Trading start: June 30th – 6pm UTC+8

Withdrawal time: July 1st – 4pm UTC+8

Unique features: The basis for realization of Holonus economic zone

  • Dapps are linked to the Honolus blockchain and users can continuously create the wallet system.
  • Holonus Dapps builder allows all users to easily create blockchain applications with no code. It also enables them to build DApps such as original SNS and games dealing with Holon based on the Holonus blockchain and the wallet
  • Holonus ID allows users to send Holon and NFT in one transaction. Holonus DApps coin, a utility coin used in the Holonus DApps market, can also be sent at the same time.
  • Encryption, division, and decentralized systems provide high-quality functions and enhance better compliance and security beyond traditional databases.

What can we expect from the Holonus project in the upcoming time?

  • Airdrop to win HLN on Twitter (NYSE:TWTR): Holonus: https://twitter.com/holonusOfficial/status/1540671470900494336?s=20&t=3cRnE7B8ErULGkGWQibH2wLBank:https://twitter.com/LBank_Exchange/status/1540243364200808448?s=20&t=JbBLSNHlT7YE9NLttWaZFw
  • AMA on Holonus Official Telegram: June 28, 2022 – 4pm UTC+8https://twitter.com/holonusOfficial/status/1541020549811281920?s=20&t=3cRnE7B8ErULGkGWQibH2w
  • AMA in the official LBank Telegram group: June 30, 2022 – 4pm UTC+8https://twitter.com/LBank_Exchange/status/1541336840971640834?s=20&t=3cRnE7B8ErULGkGWQibH2w

For further information, contact via

  • Website: https://holonus.io/
  • Twitter: https://twitter.com/holonusOfficial
  • Telegram: https://t.me/HolonusBlockchain
  • Linktree: https://linktr.ee/holonus

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