• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

XRP Technical Analysis: Ripple and XRP Ace-ing The Near Impossible

Dalmas Ngetich by Dalmas Ngetich
2 years ago
in Uncategorized
Reading Time: 3min read
XRP Technical Analysis: Ripple and XRP Ace-ing The Near Impossible
Advertisement
Listen to Article

Ripple the company and XRP the native coin within the RTXP protocol is having it rough from both planes—fundamentally and technically. Week over week, it is down 40 percent and shedding more than 85 percent from Dec 2017 peaks. If it continues this way—and specifically if the SEC says the coin is a security–then we might see XRP printing 2 cents in days to come. This is regardless of the near decentralization strategy in place that has since reduced Ripple control to 48 percent in their UNL list.

From the News

There is this thorn call centralization that Ripple the company is trying hard to lodge out. Every Tom and Dick always pulls the centralization card when cornered but with the company’s decentralization strategy in place, XRP is on course of becoming the most decentralized coin in the crypto space.

Remember, even decentralization poster coins as Bitcoin and Ethereum are centralized-talk of mining pools. In fact the centralization in Bitcoin is so bad that ordinary investors who would otherwise want to mine the coin don’t stand a chance because of Bitmain’s influence. There is even rumor that the ASIC manufacturer can actually attack the network now that they own less than 6,500 BTCs.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

https://twitter.com/RabbitKickClub/status/1029133118941405184

On their part Ripple have been on a decentralization path and now controls and operate just 10 validator nodes from the 21 in the RTXP unique node list. Over time, Ripple have been removing their node for every two third party nodes that is joins the UNL.

So, as it stands 11 nodes are under the control of third parties meaning Ripple the company controls a mere 48 percent of the total network and can’t make decision without consulting other node operators. Furthermore, node operators can decide which of the 21 nodes can process their transaction meaning there is decentralization by choice.

XRP Technical Analysis

Weekly Chart

XRP Technical Analysis
XRP Weekly Chart by Trading View

At current prices, XRP is just 10 cents away from testing Q3 and 4 2017 lows. It’s also down in the excess of 85 percent from Dec 2017 peaks showing how strong bears have been. In line with our previous XRP trade plan, we expect a follow through and XRP prices to be clipped mostly by unfavorable fundamentals around XRP.

As we can see from the chart, last week’s bear engulfing candlestick was actually a confirming bar breaking off that late June-July 10 cent consolidation with floors at 40 cents. Now, since our trade plan is right on course, we recommend selling at current spot prices with targets at 15 cents as before.

However, if risk reward ratios don’t allow, then I suggest holding off until after prices hit 15 cents a key support line. Should there be a break below, then we shall short XRP with second targets at 2 cents or there about.

Daily Chart

XRP Technical Analysis
XRP Daily Chart by Trading View

Over a 24 hour period, XRP is down eight percent and poised for more since the trend is bearish. In light of the general altcoins sentiment and SEC failure to spell out their decision on whether the coin is a security or not, chances are the coin might not find support gifting sellers another opportunity to add on to their shorts. As long as the stalemate continues, we recommend shorts with first targets at 15 cents and later 2 cents as our last XRP technical analysis dictates.

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

Tags: XRP DecentralizationXRP Price AnalysisXRP Price ChartsXRP Technical Analysis
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

Polkadot (DOT)

Charted: Polkadot (DOT) Holding Gains Despite Sharp Drop in BTC and ETH

2 hours ago
Ethereum

TA: Ethereum Starts Recovery, Why ETH Could Face Resistance Near $1,250

4 hours ago
TA: Bitcoin Nosedives To $28.5K, Why Important Support Turned Resistance

TA: Bitcoin Nosedives To $28.5K, Why Important Support Turned Resistance

6 hours ago
bitcoin altcoins

Altcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown

9 hours ago
Analyst: After A 50% Retrace Against Bitcoin, Chainlink Is “Ready” To Soar

Ethereum Maintains Bullish Market Structure Despite Selloff; Rebound Imminent?

11 hours ago
evening star bitcoin

Evening Star: Reversal Pattern Could Sunset Bitcoin Price Action For Weeks

13 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Piction Network Announces Partnership with PICA

January 21, 2021

Seascape Network to take DeFi Gaming to the Next Level with the Binance Smart Chain

January 21, 2021

Bit.com To Launch Industry’s First BCH Options

January 20, 2021

Newsletter Signup


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.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 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.