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Ripple

XRP Price Falls To Mid Term Trend Line, What’s Next $1 Or All Time High?

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  • XRP price has fallen over 15% the past week
  • XRP Price is being held up by 125MA
  • XRP price has formed a descending channel

XRP Trading Levels

XRP price has struggled to continue its uptrend over the last week. Prices rose to $1.30 nearly 2 weeks ago and have been bouncing above a dollar ever since. BTC has largely influenced XRP price action as BTC failed to hold above the $50,000 mark. BTC & the overall cryptocurrency market has been surging the last month as buyers pushed coins strongly off their lows. After such a large spike with little to no correction on the daily timeframe, we may expect BTC & crypto pullback to regain steam. 

Over the last month, XRP price has revived nearly 150% from its low of $.50. The entire ride up, XRP held a trend line which supported it from downfall. At the time of writing, XRP just touched this trend for the first time in nearly 3 weeks. A bounce is expected as XRP has already been dropping the last few days.

Price must regain the minor resistance of $1.19 to have a shot at continuing this bull trend. The important mark to break & hold is the 4 month trend line that has held prices from starting a new uptrend. If bulls manage to break & hold this, XRP price has a shot at $1.40+. 

XRP Price Analysis: XRP/USDT 4 Hour Chart

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TradingView Chart

Over the last two weeks, price has formed a descending channel formation. XRP price will be fairly steady until a breakout occurs as each trend line continues to reject price. At the time of writing, XRP has just bounced off the 125 MA which has acted as support ever since the break of $.60 in late July.

Along with this MA lies a mid term trend line that has held XRP up the entire ride from $0.50-$1.35.

If bears continue their control & push XRP price below these two marks, a downtrend will then be confirmed. In this case, XRP will find support at $0.98 & $0.89.

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While looking at the RSI, we can see strength has been getting hammered into the ground. At the time of writing, strength is going sideways within the oversold region. A strong break of the downtrend is needed for XRP to start a healthy revival. In addition, the regular RSI has also been in a downtrend for nearly 2 weeks. A strong break above the 50 value along with the downtrend line is needed for XRP price to potentially go on another run.

XRP Intraday Analysis

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  • Spot rate: $1.09
  • Trend: Neutral
  • Volatility: High
  • Support: $0.98
  • Resistance: $1.14

XRP

XRP Has Great Risk-Reward Ratio, With 10x Price Rise Likely: Macro Guru Raoul Pal

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Raoul Pal is saying that global payments asset XRP has a great risk-reward ratio despite a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). 

In a new interview on Savvy Finance, the CEO of Real Vision and Global Macro Investor shares why he remains bullish on the crypto asset.

“XRP is a great risk-reward. The lawsuit – we’ve seen every lawsuit, every single one has been fine. Everybody’s actually cleared up after the event anyway and these events were a while ago. Bitmex, that’s happening, we’re going to see all of these, so I think it’s going to be a slap on the wrist that it could look like a security, there’ll be no admission of guilt on either side, there’ll be a payment of a fine and then XRP is free to run.”

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The former Goldman Sachs executive also identifies factors that will help drive up the price of the coin. 

“What’s interesting about XRP is there is quite a lot of use cases. Now, I know the bunch of Bitcoin people hate it– it’s not decentralized enough, I don’t care. Are people using it? Yes, a lot more than most people realize, and what’s amazing about this setup is you can’t buy on any of the exchanges and it’s not in the Bitwise ETF.  

“The Bitwise ETF is now a billion of the Bitwise index. The top 10 index is a billion dollars, so the moment XRP is free, they have to buy a few hundred million dollars in it as everybody else can because the exchanges will have it back, so you’re setting up for a hell of a nice run if this clears up.”

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Pal says it is still worth betting on XRP despite the possibility of Ripple losing in its legal battle with regulators. 

“Worst case it doesn’t? Worst case is, let’s say, 50% downside, best case is 10x from here, so I’ll take a 50 to 1 risk-reward for the next three to six months.”

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Chainlink

XRP, Chainlink and This Crypto Project Launching Bitcoin Smart Contracts Are ‘About To Go Crazy’, Says Altcoin Daily

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Altcoin Daily host Austin Arnold is listing three altcoins that he says are “about to go crazy”.

In a new video, Austin tells his one million YouTube subscribers that the altcoins in question are Dfinity Foundation’s Internet Computer (ICP), the bridge currency XRP, and blockchain oracle network Chainlink (LINK).

Kicking off the list with Internet Computer, Austin says that the crypto project focused on becoming a decentralized global computing platform, is planning to introduce smart contract functionality to Bitcoin.

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Internet Computer smart contracts will gain access to Bitcoin liquidity and Bitcoin will gain powerful new smart contract functionality without the need for insecure and cumbersome trusted bridging services.

So this could be big – a DeFi [Decentralized Finance] ecosystem for Bitcoin is a major industry initiative. It would mean the world’s most popular cryptocurrency, Bitcoin, could be used for lending, yield farming, derivatives, liquidity pools and more.”

Turning to XRP, Austin says the developer Ripple Labs has encountered a setback in the lawsuit filed against it by the U.S. Securities and Exchange Commission (SEC).

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“…Ripple filed a motion back in August 27th requesting information about whether SEC employees had purchased and traded Bitcoin, Ethereum and XRP. The United States Magistrate Judge Sarah Netburn rejected this motion on Tuesday…

…so what this means to you as a potential XRP holder is that Ripple will have to find another way to prove to the SEC that XRP is not a security. That’s of course the SEC’s point of view. They’re the ones that are suing Ripple and the case is heating up.”

In the case of Chainlink, Austin says that the blockchain oracle network’s recent integration with decentralized cold storage aggregator Coldstack is bullish.

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“…big green flag for LINK holders. Here’s the reason Chainlink was chosen – because in their [Coldstack] words ‘Chainlink is the industry standard in blockchain oracles’.”

Austin also quotes Coldstack’s CEO Alexander Shishow showering praise on Chainlink.

“In a direct quote from Coldstack CEO… ’There really isn’t any substitute for Chainlink – if we want to provide the best data storage solutions for our users, then it makes sense to use the best oracle service provider in the industry.’”

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Cardano

Top Analyst Plots Path Ahead for Cardano and XRP, Says Three Altcoins Are Now Attractive After Dip

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Michaël van de Poppe is sharing his updated forecast for two leading altcoins, Cardano (ADA) and XRP.

In his new video, the crypto analyst says that Cardano has hit important price levels, breaching the $1.90 to $2.10 range.

“I’m assuming that Cardano is quite close to being bottomed out at this stage, through which we can expect new impulse waves to be happening.”

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Van de Poppe next looks at the token’s Bitcoin pair (ADA/BTC) and says that there is a possibility that Cardano could see new highs.

“I’m expecting that we’re going to have some slight consolidation comparable to the area that we had in April. So some slight consolidation here until we crack resistance, but if we [do], I think we’re going to be running with new all-time highs or new highs for Cardano here as well.”

The trader also identifies a crucial price level for XRP that could indicate a bullish signal for the crypto market.

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“I think that if you want to get into the markets then the chances are here that we’re finally getting bottomed out and we are ready for the next impulse wave in the market.

What is the level to crack for XRP? The area around $1.05 is the one that it has to crack through. I’m not assuming that we’re going to get it in one go, but I’m assuming that once it breaks through there, I think all coins will be breaking out left and right. But this is a good candle on XRP.”

The widely-followed analyst notes that the downturn offers a good opportunity to get into the market, naming Avalanche (AVAX), Solana (SOL), and Fantom (FTM) as the three altcoins to buy during the dip.

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“Should you be getting interested in the markets when it’s approaching support and when projects are dropping down by about like 35% to 45%? Yes, of course. 

When you get towards the support, people will ultimately become quite bearish and they are only expecting further downward momentum. That is the moment that you want to get into the markets.”

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