RIPPLE TECHNICAL ANALYSIS (XRP US DOLLAR)
Technical overview
Big picture
THEMES AFFECTING Cryptocurrencies
SPECIAL YEARLY FORECAST
Interested in yearly XRP/USD forecast? Our experts make yearly updates forecasting the next possible moves of the ripple-dollar pair. Here you can find the most recent forecast by our market experts:
XRP to see double-digit price and reduced regulatory uncertainty
Ripple ends 2021 on a strong note by establishing itself in the East despite the ongoing lawsuit in the US against the SEC. XRP price burned brightly in the first half of 2021 but its momentum appears to have vanished in the second half. Regardless of the lackluster performance, Ripple and its native token XRP have a bright future ahead of them in 2022.
Latest Ripple Analysis
Editors' picks
CAKE price bottoms out as PancakeSwap announces $25 million burn
PancakeSwap’s price increased nearly 3% on Monday after the decentralized exchange platform on the Binance Smart Chain announced a token burn of more than 8.9 million CAKE tokens, collected from trading fees across Automated Market Makers Version 2 and 3 of the platform.
Ripple lawsuit to see SEC response on Monday, XRP nears 4.5 million mark in liquidity pools
Ripple closed above $0.52 on Sunday and resumed its climb on Monday, May 6. Sentiment among market participants is positive as traders await Securities and Exchange Commission response filing and XRP locked in Automated Market Maker liquidity pools crosses 4.31 million.
Crypto AI tokens post near double-digit gains amidst launches from NVIDIA, OpenAI and Amazon
AI-based cryptocurrencies have experienced nearly double-digit or higher gains on Monday, well above the price increases seen among the main crypto assets, likely fuelled by recent announcements of new developments from AI and tech giants in the US.
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Bitcoin’s consolidation crosses the two-month mark but shows no signs of a breakout or a directional move. Investors waiting with bated breath for a volatile move remain confused about whether to buy the dips or keep some cash reserves for a rainy day.
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Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
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Characteristics of Ripple
Ripple is the third largest market capitalization strength in terms of cryptocurrencies. It was launched in 2012 as a decentralized free software payment system and under this name we find both the financial protocol for transfers and the cryptocurrency better known as XRP.
However, until 2016 Ripple did not obtain the necessary accreditation to operate as a cryptocurrency, ending up being fined the previous year with a sum of 700,000 dollars. Just one year after obtaining its license, its capital had amounted to 55 million dollars in part due to its acceptance and subsequent collaboration with banks such as Santander, Siam Commercial Bank, Royal Bank of Canada or UniCredit, among others.
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Differences between Ripple, Bitcoin and Ethereum
Among the most outstanding features, the speed of transfer stands out because for every second a total of 1,500 transactions can be carried out while other cryptocurrencies such as Bitcoin and Ethereum only allow 6 and 15 respectively. Likewise, completing a transaction takes around 4 - 5 seconds while with Ethereum it takes 2 minutes and with Bitcoin, it goes up to almost an hour.
Due to the importance of Bitcoin today, Ripple has a payment gateway that facilitates payment between its users with these two cryptocurrencies without the need to have their own wallet with that currency. Despite using a similar operation that allows the connection with other cryptocurrencies, it does not work under the blockchain technology.
Another main difference with respect to other cryptocurrencies is the absence of mining. It’s not possible to generate new Ripple units this way. Right from its launch, it was agreed that the maximum number of Ripple would be at 100 billion units, although not all of them are in circulation at this time. Ripple units are being released by their creators periodically. In addition, it’s worth underlining that nearly 20% of the market cap is owned by its creators.