Germany’s second largest stock exchange the Börse Stuttgart announced today that it will be adding trading of Ripple’s XRP token to its services in the form of ETN’s. The listing follows last month’s news that XRP will be listed on Swedish exchange Nordic Growth Market (NGM), which is also owned by the Börse Stuttgart.
Börse Stuttgart announced its plan to begin investigating cryptocurrency support back in August 2018 with talk of ‘complete end-to-end infrastructure’ for digital assets. It has since become well known for it’s ‘crypto-positive’ attitude. Founded in 1860, the exchange has been hosted in many different headquarters throughout Germany, eventually settling in its current location of Carl Eugen Bau, Stuttgart. It recently developed an over-the-counter (OTC) trading platform dubbed the Trading, Information and Quote System (TIQS) in collaboration with EUWAX AG.
Exchange Traded Notes
Exchange Traded Notes, or ETN’s, are a method of tracking the index of a security on a major exchange. They are a form of unsecured debt and are similar to bonds, although minus the interest payments. An exchange typically takes a fee from any gains the ETN accrues and then pays out the investor the remaining profit. Unlike exchange-traded funds (ETF’s), which have become increasingly popular in the cryptocurrency industry, ETN’s don’t require the exchange to own the underlying security.
The use of ETN’s is aimed to open up cryptocurrency trading to traditional investors who would otherwise not be able to or not wish to deal directly in digital asset trading. While they usually result in higher fees, they give more wary investors the perceived security and peace of mind that comes with a historically trustworthy exchange.
Ripple (XRP) Price
XRP is trading up almost four percent after enjoying a sudden boost at around 2:30 am (GMT) today. A huge injection of volume pushed the price to a high of $0.328 before leveling off to current levels of $0.322. The asset reached a high of almost $0.34 during this past weekend’s crypto market bull run but retraced to $0.30 soon after.
Bitcoin (BTC), by comparison, is up only 2.5 percent today with Ethereum (ETH) trailing behind with only one percent gains. Litecoin (LTC), which was also announced to be added as an ETN on Börse Stuttgart, barely reacted to the news and is currently down 0.1 percent.
Ripple’ XRP Price Approaches New Bottom: Traders Predict $0.2 XRP Price In A Week
XRP is to touch $0,2 level, according to traders’ forecasts. However, some TradingView users have a different opinion. What to believe? Read the recent XRP price predictions
Ripple is shocking the crypto community: the $0.3 support seems to have failed, but it’s not the bottom yet! The current XRP price of $0.26 seems to be a weak support zone, and the crypto community is embarrassed. What to do with XRP? Buy or wait for it to get even lower? Let’s read Ripple’s XRP price predictions from tradingview and check out what people think about this crypto.
Ripple (XRP) price chart by carltonzone
The movements on XRP the past couple of days have taken a lot of us by surprise, and it might get ugly in the short-run.
We found a critical pivot point on the new Big Light Red just days ago when we experienced the massive red candle of doom. After the extended period of boring side-banding, a few interesting hints appeared.
The current trajectory of the blue Fib indicates that we have broken free from its gravitational pull. The downward momentum has us possibly looking to touch down on the Light Blue 3.618 below. We could float around a bit, and touch that line just below $0.25. There are no pivot points that jump out at me that would indicate a pivot point changing the direction of this trend. Therefore, the 4.216 could be the next possible stop.
There are many XRP price predictions around $0.22, and this would definitely coincide with the landing point along this current trajectory IF we blast through the remaining Light Blue fibs indicated on the chart. When we are on the underneath side of the circles on the right, in quadrant 2 in a clockwise direction, the tendency is to continue in a downward direction. The past is not always indicative of future movements, but when it’s all we have to hang our hats on, it’s the safest way to assume the direction.👉MUST READ
1 more month of accumulation
Ripple (XRP) price chart by kyer
Here’s a very interesting XRP price prediction that contradicts what’s been said about XRP in the previous day.
The wedge we’re looking at spans over 400 days starting on August 12th, 2018 and should breakout before September 28th, 2019. This month, August, we should just see XRP accumulating between $0.30-0.32. We can only hope it gets back to $0.30 level The Monthly chart confirms this.
September is the month our lives will change. At this point, $XRP has accumulated enough to test out of the wedge. If it doesn’t have enough strength, October will be the month this coin goes to the moon.
You can see in May-July it tried to breakout, but it wasn’t strong enough and the whales pushed the price back down.
According to kyer, the next move up will break $XRP out of this wedge, just like how it did at the end of 2017. All the stars are aligning for $XRP to move up, the price has been suppressed long enough. Alt season should come around Sept-October, the same time that Bitcoin/Ethereum is moving up too.👉MUST READ
Downtrend will continue
Ripple (XRP) price chart by tradinginthezone2019
As expected, eventually the support was eaten up and it collapsed out of the range it’s been in for some time now, as some good traders said, it wasn’t unlike BTC at 6k in 2018.
This is where things get interesting, XRP is now reacting to the levels set back in 2017 before the euphoria pump. Most likely, it will rally back to local resistance and then collapse further. May open a short if it gets even close to the 30 marks as this will not be reclaimed for at least a few months (unless we get alt season).
Even the current situation is not a time to panic sell. If you’re not a swing trader, this should be of no concern. The best advice is to look at the BIG picture and sit steady in the boat. For those of us looking for long-term gains, we can’t be concerned with this part of the market cycle. There will be ups and downs. But in the long run, the nastier it gets, the better. You make the BIGGEST gains on the long-shots. Remember, we are in the EARLY stages of the cryptocurrency market. The best has yet to come, and this is the dawn of a coming new financial age.
From The Charts: Could This Be The Best Time To Buy XRP?
The crypto market is getting a little uncertain of late, although a lot of fans are still optimistic that a bull run will soon come into play. XRP is one cryptocurrency that has braved the darkest moments of the market especially the recently-ended crypto winter.
However, XRP seems not to get a price push upwards despite various positive news especially regarding Ripple and its efforts in propping up the crypto.
However, according to a claim by one crypto market analyst at ThinkMarkets, now might well be the best time to buy XRP at its current low price. At the moment, XRP trades at $0.2645.
XRP Is Oversold
In a tweet, the analyst, Naeem Aslam, argues that XRP is already oversold and buying in at the current price could be a great idea for investors.
Aslam also claimed that the XRP market is currently below the 200-week MA (Moving Average) and its RSI (Relative Strength Index) has dipped below the 37 mark. In Aslam’s opinion, these dynamics suggest that the bear market may have ended, paving way for a possible bull run.
BTC Dominance Threatens Altcoins
Over the last few weeks, bears have demonstrated some kind of a move that has threatened the market with plunging back into the already-ended winter. A lot of the altcoins, including the top coins like XRP and Ethereum, have shed off some figures.
On the other hand, Bitcoin has remained strong especially in terms of market dominance. BTC is currently at 69% by market dominance – up from 50% of 5 months ago. Basically, this means that the whole of the altcoin market shares the remaining 31%. In March 2019, XRP had a whole 10% market share in the crypto market. Today, the percentage has dropped way down to 4%.
Ripple (XRP) May Face Grim Future Despite Today’s Bounce
Earlier this past week Ripple (XRP) along with the aggregated crypto markets faced an incredibly sharp sell-off that sent XRP reeling down to lows of $0.25, which marked a significant pullback from the mid-$0.30 region where it has previously found stability.
Although the crypto was able to post a small bounce today, analysts are still noting that XRP broke below its 2018 support level, which could mean that significantly further losses are imminent.
Ripple (XRP) Finds Support Around $0.25
At the time of writing, Ripple is trading up just over 1% at its current price of $0.265, which marks a slight increase from its daily lows of just below $0.26.
This past Wednesday, XRP incurred a significant influx of selling pressure that sent its price reeling down from over $0.30 to lows of roughly $0.25, at which point it found some strong support that allowed it to climb slightly higher.
It now appears that the $0.25 region is a strong level of support, as it has bounced each time that it has visited this region.
Importantly, unlike many other major altcoins, XRP is currently trading below its 2018 lows, and has now set a fresh low since it first began its downwards ascent from highs of nearly $4.00 in early-January of 2018.
Will XRP Drop Further in Near-Future?
Although analysts are not sure what has been the root cause behind Ripple’s lackluster price action throughout 2019, some investors have pinned it on regulatory concerns regarding its potential status as a securities product, which others have linked it to Ripple – the FinTech company closely associated with XRP – offloading massive amount of XRP onto the markets each quarter.
Regardless of what the cause might be, The Cryptomist, a popular cryptocurrency analyst on Twitter, noted in a recent tweet that the recent drop marked a break below its 2018 support level, which could mean further losses are imminent.
“$XRP: Relieved I sold last week! Support from August 2018 has now broken. However, I am adding some here as we potentially have a falling wedge here. Breakout would test previous support,” she explained while referencing the below chart.
As the week wraps up, it is unclear as to whether or not Bitcoin’s price action will guide that of Ripple’s, or if the crypto will operate on an individual basis as it continues to face intense selling pressure.