Ripple
As Bitcoin Climbs, Can XRP Price Catch The Wave?
Published
6 hours agoon
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adminAayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.
From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.
Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.
Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.
At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.
In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
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Price analysis
Will XRP Price Touch $2 Post Ripple Stablecoin Launch?
Published
2 days agoon
October 19, 2024By
adminThe crypto market participants are anticipating the impact of Ripple’s RLUSD stablecoin launch on XRP price. Some speculate that this could push XRP to $2, others suggest $1 is a reasonable target.
Let’s explore how high XRP price might go post Ripple’s stablecoin goes live.
Can XRP Price Hit $2 Post Ripple’s RLUSD Launch
Ripple’s recent announcement of the RLUSD stablecoin partners has sparked interest among investors and are already speculating that this launch could impact XRP price. Just like the SEC vs. Ripple lawsuit triggered a massive volatile move to the upside, the launch of RLUSD stablecoin will most likely have a similar effect on XRP.
Technical outlook forecasts what investors are expecting, XRP price to target $1 in the short-term. Over the longterm, $2 might be possible, but depends mostly on how XRP fits into the bigger picture and its importance in the stablecoin ecosystem.
When Is Ripple’s RLUSD Stablecoin launching?
According to recent developments, Ripple has chosen Bitstamp, CoinMEAN, Independent Reserve, Bitso, Uphold, Bullish, and MoonPay as their stablecoin partners.
Although there isn’t a set date for the launch of RLUSD, Ripple mentioned that it is waiting for regulatory approval. Once the necessary requirements are met, the payments company is ready to launch the stablecoin globally.
After Ripple announced their partners, Uphold CEO Simon McLoughlin responded by saying,
“Stablecoins are the killer use case for blockchain technology and help to solve one of the most glaring problems in modern finance – cross-border payments. We expect stablecoins to replace many use cases of traditional fiat money faster than many people imagine as virtually all major financial centers are now enacting clear regulations for stablecoins.”
XRP Price Analysis: Will Ripple hit $1?
The daily XRP price chart clearly visualizes the range-bound movement inside the yearly Volume Weighted Price Average (VWAP) with a single standard deviation. The blue line at the center is the yearly VWAP and the green lines on either sides are one standard deviation apart.
Ripple price today trades under the yearly VWAP at $0.561 and below the daily resistance level of $0.556. If the Ripple’s RLUSD stablecoin is launched then a breakout above the aforementioned levels is more than possible. The first key target is $0.635.
Beyond this barrier, investors need to pay attention to the $1 psychological level. But in times of massively heightened volatility XRP price could easily surpass these short-term resistance barriers and tag the $2 level.
On the other hand, if XRP’s involvement in RLUSD is minimal or zero, it could negatively affect Ripple price and trigger a correction to $0.5055. A breakdown of this barrier would invalidate the bullish thesis and trigger another pullback to $0.496.
Frequently Asked Questions (FAQs)
Ripple’s RLUSD is a stablecoin that may positively impact XRP price, potentially pushing it to $1 or $2.
The launch date is uncertain, pending regulatory approval.
Key targets include $0.635, $1, and potentially $2, with support levels at $0.5055 and $0.496.
Akash Girimath
Akash Girimath, an engineer by training, has developed a deep fascination with the complexities of cryptocurrency markets. As a senior reporter and analyst, he specializes in crypto analysis and contributes his expertise to notable platforms such as AMBCrypto and FXStreet. In addition to his analytical work, Akash actively trades cryptocurrencies and manages a small crypto fund for friends and family. His role involves providing insightful market analysis and keeping readers informed about the latest trends in the crypto world. Follow Him on Youtube , X and LInkedIn
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Ripple
XRP Price Can’t Break $0.5550: Is a Turnaround Coming?
Published
4 days agoon
October 17, 2024By
adminAayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.
From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.
Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.
Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.
At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.
In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
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Analyst
Analyst Breaks Down The Movements And Why It’s So
Published
6 days agoon
October 15, 2024By
adminThe reason behind the stagnant XRP price growth has remained a mystery, with many crypto analysts pointing to legal disputes and market volatility as key factors holding back its momentum. However, even during favorable market conditions and after gaining legal clarity following multiple Ripple Court wins against the United States Securities and Exchange Commission (SEC), XRP has still failed to experience a notable upward surge.
As a result, investors have questioned the cryptocurrency’s sluggish price growth, prompting a crypto analyst to provide a detailed explanation of why XRP remains at a low price, barely showing signs of a feasible rally.
Why XRP Price Struggles To Gain Momentum
On October 13, a crypto analyst and researcher known as ‘Crypto Tank’ took to X (formerly Twitter) to discuss the reasons why the XRP price is not moving. In the lengthy X post, the analyst explained that the XRP price was determined by dividing the volume of XRP actively being used on the ledger by its circulating supply.
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According to Crypto Tank, XRP investors have this misconception that the total XRP in circulation is about 56 billion. However, this figure is misleading as a large portion of XRP’s supply is held in various private wallets by large-scale holders, also called “Whales.” This means that most of XRP’s supply is not actively being used in the market, but is held firmly in these wallets.
The analyst revealed that what truly matters for XRP’s price movements is how much of the circulating supply is used to actively engage in transactions on the XRP ledger. Currently, only about 20% of the total XRP supply is actively engaged on the XRP Ledger daily.
For XRP to be used to execute transactions, it often needs to be paired with Automated Market Makers (AMMs), which provide liquidity during trades. These liquidity pools are important for XRP to conduct global settlements, as only ample liquidity can facilitate these enormous transactions which extend to trillions of dollars. This need for substantial liquidity in the XRP Ledger is what limits its price movements.
Following the analyst’s report, it is clear that XRP’s price struggles are more complicated than mere market volatility. Its ongoing legal dispute with the SEC also adds uncertainty to any potential price increases in the future.
Analyst Unveils XRP Road Map To $500
While discussing the reasons why XRP’s price has remained stagnant, Crypto Tank also unveiled a road map for how XRP could reach $500. The analyst explains that if XRP could become widely adopted for global settlements like SWIFT, it could potentially reach this price target.
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He disclosed that an increase in market capitalization or retail investors does not matter, as XRP would only surge to the projected $500 price if it can handle large institutional transactions through deep liquidity pools and AMMs.
Featured image created with Dall.E, chart from Tradingview.com
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