It led to numerous inquiries from users in Whale Alert to Binance and brought in over 30 million XRP.
Binance US said it would phase out XRP on January 13, 2021. Since then, several crypto exchanges, including Bittrex, Coinbase, OKCoin, and Binance, have announced that they would delist the coin following the lawsuit against its parent company. Despite other coins performing incredibly for the past two months, XRP has been in the red zone most of December consequently, the coin saw over 65.8% decline. Apart from Ripple itself, the US security agency has sued Brad Garlinghouse (CEO) and Chris Larsen (co-founder). The SEC filed a lawsuit against Ripple on December 21 has been the primary cause for the coin’s downfall. With this, the price is likely to remain at this lows as demand for the coin drops. Its volatility, as measured by the Average True Range (ATR) has also dropped to the lowest level since November 22. The value is also below the January high $0.3705. XRP is currently trading at $0.27 which is slightly below the 25-day and 15-day EMAs. On January 7 and 11, the coin recovered to the $0.35 zone but did not hold the level for long.
It bears mentioning that the asset price endured an unexplained flash crash to $0.30 yesterday.Roo's All-In Giveaway, $300,000 in Prizes!ĭuring the press, XRP was ranked fifth on CoinMarketCap after losing fourth place to Polkadot earlier this year, trading at $0.2656. Trade XRP on the XRP/USDT pair Deposits & withdrawals are now open for XRP Note: This article was last updated on July 14, 2023. You can now deposit and trade XRP on the best crypto platform for low fees. XRP is exchanging hands for $0.3483 at press time, up 1.69% in the last 24 hours. We’re excited to announce that XRP has been listed on Binance.US. In addition, a native Automated Market Maker and an Ethereum Virtual Machine (EVM) compatible sidechain are on the horizon. Developers recently launched native NFT functionality. In addition, the XRP Ledger is also seeing some significant development. With speculations about its outcome at a fever pitch, as can be seen with the growing trend of reports and discussions centered on the possibility of an out-of-court settlement as against a court ruling, investors can expect impulsive price reactions to any significant developments from the case at this point. affiliate of the world's top crypto exchange by volume announced Wednesday that customers will not be able to deposit or trade XRP on the platform effective 10:00 a.m. For one, the SEC case against Ripple is at its tail end. Cryptocurrency exchange Binance US is suspending XRP trading for its customers effective next month. It is worth noting that aside from the factors mentioned by Santiment, other factors could influence the price of XRP in the future.
Notably, Santiment has urged investors to exercise caution and employ proper risk management, even as it asserts that XRP is an investment worth considering for January. According to the firm, the latter indicates sellers’ exhaustion. However, it highlights the 30-day MVRV (Market Value to Realized Value), which shows sellers will be selling at a 7% loss and the lack of a significant price decrease in the face of negative sentiment as positive. Santiment concedes that XRP’s Binance funding rate and overall market sentiment are negative. The on-chain analytics platform highlights that this type of accumulation often characterizes price bottoms adding that these class of holders historically hold significant sway on the asset price, except for December 2020 when the US Securities and Exchange Commission filed a complaint against Ripple. Santiment reveals large bag holders with 1 million to 10 million XRP increased their holdings by 25% in the past 6 months even though XRP has been stuck between $0.28 and $0.54.
Notably, XRP is currently at the bottom of this developing triangle chart pattern indicating great upside potential. Sharing the XRP/USDT daily chart, Santiment explains that while XRP has been in a downtrend since 2021, the downtrend is a part of a larger uptrend that looks set to complete a triangle chart pattern. Santiment touts XRP as the crypto to watch in January.Ĭrypto market intelligence platform Santiment Feed has declared that XRP is its crypto pick for January in a report shared yesterday on Twitter.įrom a price action perspective, Santiment believes that XRP provides an opportunity for a low-risk, high-reward trade.
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