NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Could JPM Coin Be the Negative Force Behind Ripple’s Recent Price Action?

Cole Petersen
Cole Petersen
6 years ago
3 mins read
Ripple XRP

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The past several weeks have been overwhelmingly positive for the crypto markets, with Bitcoin finding its footing in the lower-$5,000 region and many altcoins putting a significant amount of distance between their current prices and their 2018 lows. Despite this, Ripple (XRP) has been one of the few cryptos that has not incurred any massive gains, much to the chagrin of its investors.

One possible factor behind Ripple’s less-than-positive price action over the past several weeks could be the release of JPMorgan’s cryptocurrency – aptly names JPM Coin – which is widely viewed as being a competitor to XRP.

Ripple (XRP) Stable Around $0.32, But Caught in Persisting Trading Range 

Although XRP’s recent price action hasn’t been bullish per say, it hasn’t necessarily been bearish either, as it has simply been trading flat around its current price levels.

At the time of writing, Ripple is trading up 1.2% at its current price of $0.324, up slightly from its daily lows of $0.319. While looking over a seven-day trading period, XRP is down from highs of roughly $0.35, and is just a hair above its weekly lows of $0.318.

This relative stability is not unique to the past seven days, however, as XRP has been caught in a bout of sideways trading since the beginning of the year.

While looking at Ripple’s year-to-date price action, it has been ranging between highs of $0.38 and lows of $0.28, with strong resistance at the former price level, and strong support at the latter.

Harry, a popular cryptocurrency trader on Twitter who focuses primarily on XRP, recently noted that XRP is in what he calls an “accumulation” phase, and breakouts of the persisting range may not be seen until the third or fourth quarter of this year.

“$XRP is in accumulation for an Adam & Eve double bottom, big breakout / continuation starts around $0.63c usdt. April mark’s the eve centre, breakouts likely as far out as Q3, Q4,” Harry said in a recent tweet.

$XRP is in accumulation for an Adam & Eve double bottom, big breakout / continuation starts around $0.63c usdt. April mark's the eve centre, breakouts likely as far out as Q3, Q4. $BTC has resistance over resistance from a technical perspective regardless of BARR bump/ run x https://t.co/7InP5ERFQm

— Harry 🪝🏴‍☠️ (@HaraldoXRP) April 21, 2019

Could JPM Coin Be Negatively Affecting XRP’s Price?

Earlier this year, the world was surprised to discover that JPMorgan Chase, one of the largest banks in the world, was releasing a cryptocurrency that is strikingly similar to XRP in some regards.

In a recent tweet, The Crypto Dog, another popular cryptocurrency analyst, asked the Twitter crypto community why a bank would use XRP over JPM Coin, which sparked a heated debate as to whether or not XRP is truly a JPM Coin competitor.

“Not hating on this tweet, just genuinely curious: Why would any bank use a volatile currency like $XRP over a ‘bank approved’ stablecoin like JPM coin?” he asked.

https://twitter.com/thecryptodog/status/1119400900865531905?s=21

To this, Harry responded noting that JPM Coin only has value on its own network, and that XRP would be better suited to facilitate cross-network payments.

“JMP [sic] coin likely only has value on its own network, moving money between networks will require something different, maybe interledger, maybe $XRP but let’s assume it will be something without any counterparty,” he explained.

JMP coin likely only has value on its own network, moving money between networks will require something different, maybe interledger, maybe $XRP but let's assume it will be something without any counterparty x

— Harry 🪝🏴‍☠️ (@HaraldoXRP) April 20, 2019

Although it is unclear as to whether or not JPM Coin has truly put any downwards pressure on Ripple’s price, investors will likely soon discover whether or not XRP has been coiling like a spring over the past several months, ready to surge upwards, or if it has further to fall.

Featured image from Shutterstock.
Tweet123Share227ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Hyperliquid

Hyperliquid’s Days Numbered? Expert Forecasts ‘Painful Death’

The road ahead for Hyperliquid does not look so bright. In fact, the decentralized trading platform could face lots of...

Christian Encila 4 hours ago
Bitcoin news

Bitcoin Days Away From Blowoff Or Cycle Top, Veteran Analyst Warns

Bitcoin is approaching a decisive inflection in its four-year cycle, with a euphoric “blowoff” advance likely to begin within days—or...

Jake Simmons 5 hours ago
Bitcoin

Fundstrat’s Tom Lee Sees Bitcoin Tripling, Ether Rising 5X By Year-End

Fundstrat’s Tom Lee drew a crowd at Korea Blockchain Week 2025 with a bold call: Bitcoin could reach as high...

Christian Encila 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum Accumulator Addresses Inflows Explode: 400K ETH Added In 24H Despite Selloff

Ethereum Accumulator Addresses Inflows Explode: 400K ETH Added In 24H Despite Selloff

Sebastian Villafuerte 2 hours ago
New Wall Street ETF Hypes Market: Get Best Wallet as Your Personal Treasury

A New Frontier in Crypto Investing: GSR’s Treasury-Company ETF Proposal Lifts Best Wallet Prospects

Aaron Walker 2 hours ago

Ethereum: scontro tra analisti, Andrew Kang smonta la tesi di Tom Lee

Orfeo Barone 3 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の展望 ― 0.30ドル到達と「買うべきミームコイン」論争

    ドージコイン 今後の展望 ―...

    4 hours ago
  • リップル 今後の展望:RLUSDステーブルコインがマネーマーケットファンドに統合

    リップル...

    4 hours ago
  • 仮想通貨プレセール動向:次世代ビットコインレイヤー2が資金を集める

    ...

    4 hours ago
  • テザーが5,000億ドル規模の資金調達を計画、今注目すべき仮想通貨おすすめ

    ...

    4 hours ago
  • 新しい仮想通貨のプレセールが250万ドル目前、投資家が急増中

    ...

    5 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.