"XRP: Volatility Continues as Market Trends Shift"
Download App for Android | Download App for iOS |
Start Trading XRP on BTCC Today! <<<< |
Recent developments in the cryptocurrency market have brought about significant changes, especially for XRP. Despite facing similar macroeconomic pressures as other cryptocurrencies, XRP has shown resilience, although it is still experiencing volatility.
XRP MVRV Ratio Dips Below 200-Day MA – Trend Shift Underway?
XRP has been experiencing a volatile consolidation phase since late January, losing over 40% of its value from its recent all-time high. Despite broader crypto market struggles due to macroeconomic uncertainty, XRP has outperformed many altcoins, with some losing more than 60% of their value during the same period. Global financial markets remain under pressure due to inflation, geopolitical tensions, and interest rate uncertainty, impacting the crypto space. However, recent on-chain data from Santiment reveals interesting developments.
Ripple Price Prediction: XRP Could Fall Below $1 Within Weeks
XRP has been witnessing increased pressure, with its trading volume dropping by more than 75%. The token is trading close to its key support level and risks dropping below the $1 mark in the coming weeks if the bears continue. Analysts have warned that without new catalysts and investor interest, XRP could witness a downtrend. Traders are moving to tokens offering clearer utility and potential. XRP is currently trading below its 50-day EMA while barely holding above its 200-day EMA.
XRP Back in Spotlight with ETF Speculation and SEC Settlement
XRP, the native token of Ripple, is back in the spotlight thanks to speculation about a possible exchange-traded fund (ETF) and a settlement with the Securities and Exchange Commission (SEC). These developments have boosted investor confidence in the coin. No specific exchanges mentioned in this news.
Ripple And Allies Launch XRP Ledger EVM Sidechain On Testnet
Blockchain development firm Peersyst Technology has confirmed the live testnet launch of an Ethereum-compatible sidechain for the XRP Ledger. The project, known as the XRPL EVM sidechain, is a collaborative effort between RippleX, Axelar Network, Common Prefix, and Peersyst. The sidechain is now live on testnet, paving the way for the mainnet launch. This marks a new era of interoperability and programmability for XRP.