XRP extends losses on Friday as Bitcoin dips under $55,000, Ripple and altcoins follow suite
♨️Bitcoin price drop under support at $55,000 ushered a market-wide correction in top altcoins, including XRP.
📯 Ripple erased all gains from the past fifteen months and hit $0.40 early on Friday.
💥 XRP extended losses by 7%, down to $0.38 on Friday.
Ripple (XRP) piled losses alongside top altcoins and Bitcoin early on Friday. The German government’s Bitcoin transfers and Mt.Gox payback to creditors have created uncertainty among traders and increased the pressure on Bitcoin and altcoins like XRP.
The latest developments in the Securities and Exchange Commission (SEC) vs. Ripple lawsuit are skewed in favor of the payment remittance firm, with Judge Amy Berman Jackson treating Judge Torres’ 2023 ruling as precedent in the SEC vs. Binance suit.
Daily Digest Market Movers: Ripple hit by steep correction amidst crypto bloodbath
• Ripple erased its gains from the past fifteen months, falling to a fresh 2024 low of $0.38, early on Friday.
• XRP trades at $0.39, at the time of writing, wiping out nearly 7% of its value on Friday.
• The developments in the SEC vs.Ripple lawsuit support Judge Torres’ ruling that XRP is not a security in secondary market sales.
• Judge Torres’ 2023 ruling, which offered a partial victory to Ripple in the longstanding legal battle with the regulator, was strengthened by Judge Amy Berman Jackson using it as precedent in the SEC lawsuit against Binance.
• Ripple traders have been shedding their holdings at a loss since April 2024, per Santiment data.
Technical analysis: XRP dips to lowest level in fifteen months
Ripple is in a downward trend since March 11. The altcoin dipped to its lowest level in fifteen months, at $0.38, early on Friday. The altcoin erased gains from earlier in 2024 amidst a marketwide correction in cryptocurrencies.
Ripple could find support at the March 21, 2023, low of $0.37 if it extends losses further. XRP is down 7% on Friday.
♨️Bitcoin price drop under support at $55,000 ushered a market-wide correction in top altcoins, including XRP.
📯 Ripple erased all gains from the past fifteen months and hit $0.40 early on Friday.
💥 XRP extended losses by 7%, down to $0.38 on Friday.
Ripple (XRP) piled losses alongside top altcoins and Bitcoin early on Friday. The German government’s Bitcoin transfers and Mt.Gox payback to creditors have created uncertainty among traders and increased the pressure on Bitcoin and altcoins like XRP.
The latest developments in the Securities and Exchange Commission (SEC) vs. Ripple lawsuit are skewed in favor of the payment remittance firm, with Judge Amy Berman Jackson treating Judge Torres’ 2023 ruling as precedent in the SEC vs. Binance suit.
Daily Digest Market Movers: Ripple hit by steep correction amidst crypto bloodbath
• Ripple erased its gains from the past fifteen months, falling to a fresh 2024 low of $0.38, early on Friday.
• XRP trades at $0.39, at the time of writing, wiping out nearly 7% of its value on Friday.
• The developments in the SEC vs.Ripple lawsuit support Judge Torres’ ruling that XRP is not a security in secondary market sales.
• Judge Torres’ 2023 ruling, which offered a partial victory to Ripple in the longstanding legal battle with the regulator, was strengthened by Judge Amy Berman Jackson using it as precedent in the SEC lawsuit against Binance.
• Ripple traders have been shedding their holdings at a loss since April 2024, per Santiment data.
Technical analysis: XRP dips to lowest level in fifteen months
Ripple is in a downward trend since March 11. The altcoin dipped to its lowest level in fifteen months, at $0.38, early on Friday. The altcoin erased gains from earlier in 2024 amidst a marketwide correction in cryptocurrencies.
Ripple could find support at the March 21, 2023, low of $0.37 if it extends losses further. XRP is down 7% on Friday.
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Pair: OM/bsc
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Contract Address: 0xf78d2e7936f5fe18308a3c2951a93b6c4a41f5e2
Network: #Bsc
Target: 50% to %200
Exchange: Oakex.net
Wallet: Binance / Trustwallet
Buy this max $2000
This trade was sponsored by oakex.net
Visit the exchange
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Select more wallets
Search for Binance
Connect to Binance and buy
Make sure you have bnb on your Binance web3
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Ripple on-chain activity spikes as XRP hovers around $0.43
✅ Ripple active addresses climbed over 30% on Tuesday, per Santiment data.
📊 XRP traders await the end of the SEC’s lawsuit against Ripple, expected by July 31.
🎲 Ripple investors realized over $144 million in losses in July.
XRP hovers around $0.43 on Tuesday, adding nearly 1% value to the altcoin.
Ripple (XRP) on-chain activity shows an increase in activity among XRP traders. The number of active traders increased on Tuesday, meaning XRP is gaining relevance among market participants.
With Bitcoin back above $57,000, there is optimism among traders. Pro-crypto attorney Fred Rispoli told followers on X that the US Securities and Exchange Commission (SEC) vs. Ripple lawsuit is likely to end in July 2024. XRP traders are likely watching lawsuit developments and overall sentiment among crypto traders for clues on where the altcoin is headed.
Daily digest market movers: Ripple’s address activity rises, price recovers
🅾️ Ripple noted a 30% increase in active addresses in a single day, to 22,256 on Tuesday, as seen on Santiment.
♨️ The rise in active addresses is indicative of an increase in the asset’s relevance among traders and higher demand across exchange platforms
📮 The Network Realized Profit/Loss metric (NPL) from Santiment crypto intelligence tracker shows that traders have realized over $144 million in losses in July. This could be a sign of capitulation among traders, meaning the altcoin could soon recover from the recent decline in its price.
📯 The consistent negative spikes in the NPL metric indicate the losses incurred by Xrp traders.
📄 XRP traders are awaiting the end of the SEC vs. Ripple lawsuit, and per Attorney Fred Rispoli, this is likely before the end of July 2024. SEC vs. Ripple lawsuit ruling could come out as early as July 13, according to this pro-crypto attorney
✅ Ripple active addresses climbed over 30% on Tuesday, per Santiment data.
📊 XRP traders await the end of the SEC’s lawsuit against Ripple, expected by July 31.
🎲 Ripple investors realized over $144 million in losses in July.
XRP hovers around $0.43 on Tuesday, adding nearly 1% value to the altcoin.
Ripple (XRP) on-chain activity shows an increase in activity among XRP traders. The number of active traders increased on Tuesday, meaning XRP is gaining relevance among market participants.
With Bitcoin back above $57,000, there is optimism among traders. Pro-crypto attorney Fred Rispoli told followers on X that the US Securities and Exchange Commission (SEC) vs. Ripple lawsuit is likely to end in July 2024. XRP traders are likely watching lawsuit developments and overall sentiment among crypto traders for clues on where the altcoin is headed.
Daily digest market movers: Ripple’s address activity rises, price recovers
🅾️ Ripple noted a 30% increase in active addresses in a single day, to 22,256 on Tuesday, as seen on Santiment.
♨️ The rise in active addresses is indicative of an increase in the asset’s relevance among traders and higher demand across exchange platforms
📮 The Network Realized Profit/Loss metric (NPL) from Santiment crypto intelligence tracker shows that traders have realized over $144 million in losses in July. This could be a sign of capitulation among traders, meaning the altcoin could soon recover from the recent decline in its price.
📯 The consistent negative spikes in the NPL metric indicate the losses incurred by Xrp traders.
📄 XRP traders are awaiting the end of the SEC vs. Ripple lawsuit, and per Attorney Fred Rispoli, this is likely before the end of July 2024. SEC vs. Ripple lawsuit ruling could come out as early as July 13, according to this pro-crypto attorney
📉📊📈 Technical Analysis: XRP hovers around $0.43 on Tuesday
Ripple recovered from its decline to the 2024 low of $0.3823 hit on July 5. The altcoin is hovering close to $0.43 on Tuesday. The Relative Strength Index (RSI) on the XRP/USDT daily chart shows that Ripple is out of the oversold zone.
The RSI dipped under 30 on Friday, July 5. Since then, the RSI indicator has climbed to 37.89, signaling strength in Ripple’s uptrend.
XRP could climb to the upper boundary of the Fair Value Gap at $0.4611, as seen in the chart below. The altcoin faces resistance at the psychologically important $0.50 level.
A daily candlesticks close below support at $0.4032 could invalidate the bullish thesis and send XRP to retest the July 5 low of $0.3823.
Ripple recovered from its decline to the 2024 low of $0.3823 hit on July 5. The altcoin is hovering close to $0.43 on Tuesday. The Relative Strength Index (RSI) on the XRP/USDT daily chart shows that Ripple is out of the oversold zone.
The RSI dipped under 30 on Friday, July 5. Since then, the RSI indicator has climbed to 37.89, signaling strength in Ripple’s uptrend.
XRP could climb to the upper boundary of the Fair Value Gap at $0.4611, as seen in the chart below. The altcoin faces resistance at the psychologically important $0.50 level.
A daily candlesticks close below support at $0.4032 could invalidate the bullish thesis and send XRP to retest the July 5 low of $0.3823.