The cryptocurrency market’s sporadic behavior has become evident again as several coins have started riding the bullish surf, including some changing positions on the chart. Ethereum [ETH], which has been languishing below XRP for more than two months now has finally clawed its way to the second position on the charts as XRP fell to the third. This overtake was assisted with the surprise price hike that has affected all the cryptocurrencies on the chart.
At the time of writing, Ethereum was green in all the time frames with the 3.1% shoot-up in the 24-hour spectrum being a help. The cryptocurrency was trading for $121.16 with a total market cap of $12.699 billion.
ETH’s 24-hour market volume of $2.109 billion was majorly shared between OEX and ZBG, two popular cryptocurrency exchanges. While the former saw $175,087 million worth of transactions taking place on the platform, ZBG had a grasp on $96.917 million of the total ETH trade.
XRP, which had a significant hold on the second position has lost traction after Ethereum enjoyed a more significant bull run. At press time, XRP was trading or $0.31 with a total market cap of $12.516 billion. XRP’s 24-hour growth was almost negligible, spiking by just 0.06%.
The cryptocurrency had a 24-hour market volume of $481.518 million with ZBG being a common factor with XRP too. ZB.COM held the lion’s share of XRP transactions as $49.66 million worth of transactions occurred on the platform. ZBG came in a close second, overseeing $27.89 million of all XRP trade.
XRP’s fall from the second position actually comes after a positive push from the institution department, as evidenced by Eva Kaili, a member of the European Parliament, speaking at a Ripple Regionals event. She had said:“I believed that if we were not positive, the resistance of the traditional players would only increase and could even kill a technology that had so much potential for good.”
XRP/USD Price Analysis: Prices stagnate as the bears and the bulls continue to brawl
XRP, once the second largest cryptocurrency is now the third largest in terms of market cap on CoinMarketCap. The price of XRP at press time was $0.3079, with a market cap of $12.4 billion.
The 24-hour trading volume is low when compared to competing cryptocurrencies and at $412 million, most of the volume for XRP comes from the exchange ZB.COM via the trading pair XRP/USD.
The one-hour chart for XRP shows an uptrend that extends from $0.2952 to $0.3046, while the downtrend ranges from $0.3334 to $0.3093. The support at $0.2928 and $0.3038 are both holding the prices from falling. The price of XRP is currently bouncing off the resistance at $0.3160.
The Parabolic SAR markers are forming above the price candles indicating a bearish pressure on the prices.
The MACD indicator shows a crossover to the top, as the MACD and the Signal line are undergoing a bullish crossover. The histogram shows increasing green bars developing over the zero-line.
The Awesome Oscillator shows the same projections as the MACD, as it has also undergone a bullish crossover. The green bars developing over the zero-line indicates an increasing momentum.
The longer time frame for XRP shows a dominant downtrend with no signs of a strong uptrend evolving. The downtrend extends from $0.9027 to $0.313. The support at $0.2587 is the only thing holding the prices from spiraling downwards. The resistance points at $0.5836, $0.6880 and $0.9027 will be tested soon considering how the prices are behaving.
The Aroon indicator shows a simultaneous increase of both the uptrend and the downtrend as the Aroon green and the red lines are both heading upwards.
The Chaikin Money Flow indicator is still below the zero-line indicating that the sellers are still pressuring the buyers i..e, the money is still flowing out of the market.
The Relative Strength Index shows the same scenario as the CMF as the RSI line is below the 50-line. This indicates that the sellers are dominant in the XRP market.
The one-hour chart shows bullish signs for the shorter time frame as confirmed by the MACD and AO indicator, contrary to the bearish indications of the the SAR indicator. The Aroon, CMF and the RSI all indicate a stagnant and sideways motion with a slightly bearish outlook for XRP in the longer term.
XRP/USD Price Analysis: Bulls carry coin ahead while bear sharpens its claws
The cryptocurrency market had been under the bear’s vice and this contributed to XRP slipping from its second position on CoinMarketCap in terms of market cap, to third this month. Ethereum [ETH] took over XRP’s place in the market and it appears that the two coins are in a tough fight for the spot.
At press time, XRP was valued at $0.3032, with a market cap of $12.4 billion. The coin registered a 24-hour trading volume of $407 million, with a minimal fall of 0.27% over the past day. The coin noted a growth of 3.55% over the past seven days while registering a rise of 0.17% over the past hour.
The coin’s one-hour chart indicates a downtrend from $0.3215 to $0.3128, followed by another downtrend from $0.3176 to $0.3093. XRP drew a resistance at $0.3107 and a support at $0.3059.
Bollinger Bands appear to be converging, indicating reduced volatility in the market. The moving average line is under the candles, suggesting a bullish trend.
Awesome Oscillator points towards a weakened bullish momentum.
Chaikin Money Flow has the marker above the zero-line, indicating that money is flowing into the market and that a bullish ride may be in the offing.
The one-day chart of the coin marks an uptrend from $0.2707 to $0.4785 and a downtrend from $0.5558 to $0.4785. The coin traced resistance at $0.3276 and support at $0.2926.
Parabolic SAR points towards a bearish reign as the markers have aligned themselves above the candlesticks.
MACD line is over the signal line, marking a bullish market.
Relative Strength Index indicates that the buying and the selling pressure are evening each other out.
As per the indicators, Bollinger Bands, Awesome Oscillator, Chaikin Money Flow and MACD, a bullish trend is forecast. However, the lingering presence of the bear cannot be ignored.
XRP Twitter Troll Bots Attempt To Scam Ripple Investors By Claiming Abandoned Development Team
XRP FUD Hits Twitter With Bots Claiming That The Development Team Quit
The popular digital asset XRP has been affected by a new FUD campaign on social media, specifically on Twitter. During the last few days, several bots started to write to several users that the development team has abandoned the project for another one. Although it might not be the only reason, XRP lost the second position as the largest cryptocurrency in the market after being surpassed by Ethereum (ETH).
Random users on Twitter started to tag XRP community members explaining to them that developers were abandoning the project. Clearly, this is something that did not happen. At the same time, these accounts suggested users not to purchase XRP or sell if they had some XRP coins.
Hey I saw you follow XRP Twitter so I think it you may need to know this news, the XRP dev team had already abandon the project for another one. Sell you bag now
— Ernest Lipscomb (@ErnestLipscomb5) February 13, 2019
You recently follow Ripple on Twitter? Don't be silly the developer team has quit for a while. Run as fast as you can
— Ernest Lipscomb (@ErnestLipscomb5) February 13, 2019
Some of the accounts to which one of the bots was writing to were recently created. The bot that has as name Ernest Lipscomb writes that she saw that the user followed XRP on Twitter, thus considering this user an XRP holder. After it, she advises selling the coins right away due to the development team quitting Ripple to create another project.
At the same time, these bots were using the Ripple and XRP words as synonyms, when Ripple has explicitly requested the community to clearly distinguish the differences between Ripple, the company, and XRP, the digital asset.
Active XRP members have reported this activity to Twitter, which has yet not blocked most of these accounts. Until now, there are no individuals or groups behind this situation and attack to the XRP community.
At the time of writing this article, XPR is being traded around $0.304 and it has a market capitalization of $12.55 billion.