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: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • 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: Coinbase Confirms DOJ Investigation Following Major Security Incident

XRP Erases Recent Gains as Analysts Fear Another Ripple Token Dump

Cole Petersen
Cole Petersen
5 years ago
2 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.

XRP – the token associated with fintech company Ripple – incurred some massive momentum yesterday that allowed the cryptocurrency to climb 13% at one point, thus putting significant distance between its recent lows of $0.18. This rally, however, has proven to be fleeting, as the token has now erased nearly all of its gains.

Some analysts are noting that, in addition to there being a technical factor behind this retrace, it could also stem from investors being concerned that Ripple could have been planning another massive token dump during this rally, thus shifting the tides back into the favor of sellers.

XRP Retraces Nearly All of Its Recent Gains After Tapping Major Resistance Level

At the time of writing, XRP is trading down roughly 3% at its current price of $0.213, which mark a massive retrace from its daily highs of just under $0.23 that were set at the peak of yesterday’s rally.

The embattled token has been able to hold on to some of the gains that were incurred yesterday, as it is currently trading up from its weekly lows of $0.186 that were set last week during the sharp sell-off experienced by the aggregated crypto market.

XRP is currently trading down over 7% against its BTC trading pair, which comes as Bitcoin is caught in a firm uptrend as it breaks above its key resistance level at $8,000.

Big Cheds, a popular crypto analyst on Twitter, spoke about today’s XRP sell off, pointing to a chart that shows the massive retrace the crypto underwent in the time following its recent rally.

“$XRP #Ripple – almost all of yesterday’s gains have been given back,” he explained in a recent tweet.

$XRP #Ripple – almost all of yesterday’s gains have been given back. #TheStandard https://t.co/uRpNZoBrl5 pic.twitter.com/5L1TN6aN5J

— Cheds (Trading Quotes) (@BigCheds) January 7, 2020

Could Fears Surrounding Ripple Be Contributing to the Ongoing Retrace? 

Ripple has been conducting quarterly XRP token sales that have been widely viewed as one of the primary factors behind the cryptocurrency’s recent downtrend, and it is possible that investors used yesterday’s rally as an opportunity to exit their positions out of fear that another Ripple dump would cause a retrace.

Bitcoin Jack, another popular crypto analyst, explained in a tweet prior to this morning’s retrace that he questions how high the crypto could rally until Ripple dumps tokens again – a concern likely pervasive amongst XRP investors.

“Largest $XRP vs BTC daily candle up (for now) since May 2019… Not bad, keep going before the army comes back and Brad starts dumping on them again,” he noted.

Largest $XRP vs BTC daily candle up (for now) since May 2019

Not bad, keep going before the army comes back and Brad starts dumping on them again pic.twitter.com/wSV6sOSFSW

— //Bitcoin 𝕵ack 🐐 (@BTC_JackSparrow) January 6, 2020

Although it remains unclear as to whether or not the ongoing dump will cause XRP to dip back below the $0.20 region, it does elucidate just how weak its buyers presently are.

Featured image from Shutterstock.
Tweet123Share214ShareSend
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

$400M Crypto Seizure by Secret Service Highlights Why Cold Storage and Best Wallet Are Essential

The U.S. Secret Service has now seized over $400M in digital assets, all of which are stored in a single...

Aaron Walker 3 hours ago
xrp price prediction (1)

Μπορεί το XRP να φτάσει πραγματικά τα $2.500 εν μέσω της παγκόσμιας υιοθέτησης και του κλονισμού στην προσφορά;

Η τιμή του XRP βρίσκεται στο επίκεντρο έντονων συζητήσεων, μετά από τολμηρές προβλέψεις ότι θα μπορούσε να εκτοξευτεί στα $2.500...

Ανθή Ντόνκοβα 3 hours ago
XRP

XRP Could Hit $35 If It Captures A Quarter Of Remittance Market By 2029

XRP slipped to around $2.22 on July 7, marking a quiet session for the token. That price sits well below...

Christian Encila 3 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

FUNToken’s P2E Model Isn’t Just a Game: It’s a Scalable Digital Economy

NewsBTC 1 minute ago
Bitcoin

Bitcoin To Repeat Parabolic Phase From 2017 And 2021? Here’s The Target

Scott Matherson 1 hour ago
Ethereum

Ethereum Breaks Higher With Conviction: No Signs Of A Breakdown Yet

Godspower Owie 2 hours ago

Premium Sponsors

Press Releases

  • XRP, SOL, LTC holders turn to OPTO Miner to earn $5,777 in...

    42 minutes ago
  • More and more XRP and ETH holders are turning to APT Mienr...

    52 minutes ago
  • 新しい仮想通貨|今買うべき注目の3つの新プロジェクトと高い成長可能性

    ...

    3 hours ago
  • 本日の暗号資産市場が上昇中、その背景とは?次のラリーに備える仮想通貨おすすめ3選

    ...

    3 hours ago
  • 2025年にCardano、XRP、Pepeが急騰か?注目の仮想通貨プレセールと次なるミームコインの動向

    ...

    4 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.