XRP (Ripple) Archives - Coin Engineer

XRP Releases Q4 Report! Here Are the Details

Emre Yumlu — Sat, 01 Feb 2025 14:00:32 +0000

One of the world’s leading cryptocurrency companies, XRP, has released its report for Q4 of 2024. Here are the details of the report!

Ripple’s Fourth Quarter Performance: A 280% Increase in XRP

In its Q4 2024 report, Ripple announced a remarkable 280% increase in XRP following the long-standing regulatory hurdles imposed by the U.S. Securities and Exchange Commission (SEC).

The company highlights that this recovery marks a significant milestone for the crypto market. The rise of XRP coincided with the U.S. administration’s statements pushing for clearer and fairer regulations for crypto businesses.

President Donald Trump’s remarks on regulatory clarity and banking access helped boost strong institutional and retail demand for XRP.

SEC Regulations and Factors Hindering XRP’s Growth

Ripple’s report recalls that prior to the SEC’s regulatory actions, XRP was the second most valuable cryptocurrency in the market. However, the SEC‘s legal interventions and market manipulation severely hindered XRP’s growth. As a result, trader confidence faltered and XRP’s expansion stalled. With regulatory hurdles easing and the Trump administration focusing on clearer regulations, XRP regained strong momentum and started growing once again.

Institutional Interest and Surge in Spot Trading Volumes

XRP’s strong rally in Q4 was supported by record trading volumes on major exchanges. Binance captured 36% of XRP’s spot trading volume, followed by Upbit Korea with 20% and Coinbase with 9%. XRP’s daily spot trading volume surged from $500 million to $5 billion, showing a significant increase. Notably, the large increase in Coinbase’s trading volume reflects growing confidence among U.S. investors in XRP. Additionally, institutional interest in XRP investment products has risen, paving the way for applications for an XRP ETF.

Ripple considers Q4 as a critical turning point for the cryptocurrency sector. With regulatory clarity and increasing institutional demand, XRP seems poised for more growth opportunities in the world of digital assets.

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XRP Ledger Reserve Update!

Orhan — Tue, 03 Dec 2024 20:10:59 +0000

XRP Ledger has made a significant update to its reserve requirements to simplify new users’ participation in the network. Effective December 2, 2024, the base reserve amount required to open a wallet has been reduced by 90%, from 10 XRP to 1 XRP. This update aims to lower entry costs for users while accelerating network adoption.

Purpose of the Reserve System

The previous reserve system of XRP Ledger was designed to prevent the network from being overloaded by spam accounts or malicious actors. Opening a wallet previously required 10 XRP, with an additional 2 XRP for each object (e.g., NFTs, trust lines). However, this high reserve rate posed a barrier for small investors, slowing the pace of network adoption. The new rules reduce the base reserve to 1 XRP and the object reserve to 0.2 XRP per item.

Technical and Economic Implications for the Ecosystem

While the reserve adjustment has the potential to increase network activity, it also poses challenges for the ledger’s storage capacity. Wietse Wind from XRPL Labs acknowledged that lower reserve requirements could boost transaction volumes, potentially stressing the infrastructure. However, he noted that such growth would occur as the network expands, and developers could implement suitable solutions to address these issues.

This update was implemented with the overwhelming approval of XRP Ledger validators. Initially tested on October 16, 2024, the change was fully activated on December 2. It is seen not just as a technical upgrade but as a strategic move to encourage community engagement.

XRP Market Performance

The reserve reduction coincides with a period of rising market value for XRP. Toward the end of 2024, XRP reached its highest levels since 2018, drawing significant investor attention. The updated reserve requirements aim to lower the entry barrier for investors while increasing network activity.

These developments unfold amid Ripple Labs’ ongoing legal battle with the SEC, which fined the company $125 million, claiming XRP is a security. While Ripple has appealed the decision, XRP continues to grow with the support of its community, as demonstrated by this reserve update.

Broader Access for Small Investors

The update facilitates participation by smaller investors, making XRP Ledger more accessible to a wider audience. It not only reduces costs but also allows users greater flexibility with their funds, which were previously locked in reserves.

This move is viewed as a significant step toward broader blockchain adoption. Along with increased transaction volumes and growing user interest, the reserve update highlights XRP Ledger’s innovative approach to fostering a more inclusive network.

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XRP Coin Price Analysis: Ripple on the Rise!

Orhan — Mon, 02 Dec 2024 11:45:45 +0000

XRP, developed by Ripple Labs, aims to facilitate fast, low-cost international money transfers between financial institutions. By leveraging blockchain technology, XRP targets liquidity challenges for banks and payment providers, offering significant speed and efficiency advantages over traditional banking systems. With transaction verification completed in seconds, it has gained attention in the financial sector.

Current Price Action

XRP has experienced a strong upward trend in recent weeks, attracting positive attention from investors. However, following this surge, a slight pullback is currently observed due to the general market downturn.

Key Support and Resistance Levels

Support Level:
The $1.91 level appears to be the primary support zone for XRP. If the price dips to this level, a potential rebound could occur.
Resistance Level:
To continue the upward momentum, XRP needs to close above $2.44. This level will act as a key resistance for further gains.

At this point, keeping an eye on these levels will provide valuable insight into XRP’s next movements in the market.

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Potential XRP ETF Approval Receives Markets Attention

Tanju Akbıyık — Wed, 16 Oct 2024 17:00:36 +0000

Following the launch of spot Bitcoin and Ethereum ETFs, interest is growing around the potential for an XRP ETF, with investors eagerly anticipating its debut. Tim McCourt, senior managing director at CME Group, stated that the first major step toward an XRP ETF has been taken with the establishment of an XRP reference rate and real-time index. These are critical components for building out the ecosystem, providing regulated benchmarks for product providers like Bitwise.

Might interest you: What is BabyDoge?

This comes shortly after the U.S. Securities and Exchange Commission received its second application for an XRP ETF from Canary Capital, following Bitwise Asset Management’s filing. McCourt emphasized that the introduction of cryptocurrency ETFs has significantly accelerated the growth of the industry, as demonstrated by the increased activity in futures and open interest.

While Bitcoin and Ethereum have seen substantial price gains since the introduction of their ETFs, XRP’s price has been relatively subdued, increasing by just over 8% in the past year compared to Bitcoin’s 154% rise. However, the launch of an XRP ETF could potentially provide a similar boost to its price, as was seen with Bitcoin, where spot ETFs drove a significant portion of new investment, pushing Bitcoin past the $50,000 mark in early 2024.

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XRP Surges 10%: Can Bulls Push Higher?

Tanju Akbıyık — Mon, 30 Sep 2024 18:30:25 +0000

Rising almost 10%, XRP has clearly broken the $0.600 barrier level in price terms. With technical signs suggesting possible more upward movement, the bitcoin is currently consolidating gains close to $0.6450.

XRP Price Breaks $0.600 Resistance

Rising above the critical $0.600 resistance zone, XRP’s price spike is the result of the token gathering momentum and surpassing other cryptocurrencies, including Bitcoin and Ethereum. XRP bulls then showed great market purchasing interest by pushing the price past important resistance levels of $0.6120 and $0.6250.

XRP even momentarily passed the $0.650 resistance, peaked at $0.6642, then slightly dropped. Settling just above the $0.6250 level, the price tested the 50% Fibonacci retracement level of the upward advance from the $0.6082 swing low to the $0.6642 high.

Technical Analysis and Key Levels

On the hourly chart of the XRP/USD pair, XRP is presently trading above the $0.6250 level and the 100-hour Simple Moving Average; a significant contracting triangle forms resistance at $0.6500. Should the pair remove the $0.6500 and $0.6550 resistance levels, they could initiate a new rise.

Should XRP pass the $0.6550 level, it might target the $0.6640 barrier first, then the $0.6850 level. Additional increases might drive the price toward the $0.700 resistance or maybe as high as $0.720 in the short term.

Support Levels and Downside Risk

Should XRP fail to breach the $0.650 resistance zone, it can experience a negative reversal. First support falls close to the $0.6350 level; the next significant support is at $0.6285. With $0.600 being a key milestone to keep an eye on potential losses, a downward break below the $0.6285 level could see the price fall toward the $0.6120 support.

Technical Indicators

MACD: The hourly MACD for XRP/USD is starting to lose pace in the bullish zone.
RSI: The Relative Strength Index (RSI) for XRP/USD is currently above the 50 level, indicating bullish momentum.
Major Support Levels: $0.6350 and $0.6285.
Major Resistance Levels: $0.6500 and $0.6550.

With critical resistance levels of $0.6500 and $0.6550 in sight, XRP’s recent climb above $0.600 has inspired hope among traders. Should the price pass these thresholds, it might start toward $0.700 or more. But should it lose its upward pace, the $0.6285 and $0.600 support levels would be absolutely vital in stopping more falls.

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XRP Extends Upward Momentum Above $0.440

Tanju Akbıyık — Fri, 12 Jul 2024 16:45:14 +0000

Rising momentum of XRP price over the $0.440 barrier zone shows good indicators of further increases. XRP is exhibiting a good comeback wave right now trading above $0.440 and with the 100-hour Simple Moving Average.

Key Bullish Indicators

On the hourly chart of the XRP/USD pair, a noteworthy bullish trend line with support at $0.4390 has developed. Maintaining the increasing momentum has been much aided by this degree of support. Recently, the price surged beyond the levels of $0.4320 and $0.4400 resistance and even exceeded $0.450.

Resistance Levels and Potential Gains

Near the $0.4550 mark, XRP is immediately running into opposition. First substantial opposition is at $0.4620; then, a crucial resistance of $0.4650 follows. With the next main barrier around $0.4880, a clear move over this level might drive XRP towards the $0.480 resistance. Consistent advances might drive the price near the $0.500 resistance level, therefore attaining a notable positive milestone.

Supportive Levels for Possible Dips

Should XRP not be able to exceed the $0.4550 barrier, a negative reversal might follow. Initial support on the downside falls somewhere at the $0.4450 level. At $0.4390, in accordance with the trend line, the next significant support comes. A break and closing below this level would cause further falls into the $0.4220 support.

Tests of the 50% Fibonacci retracing level of the upward movement from the $0.4307 swing low to the $0.4547 high reveal a possible consolidation period. On the plus side, bulls still have a great obstacle to overcome: opposition close to the $0.4550 level. Maintaining momentum requires constant observation of the crucial level indicated by the optimistic trend line support at $0.4390.

Recent XRP performance points to a positive future where, should important resistance levels be broken, further gains might be expected.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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Whale Activity Spurs XRP Transfers Amid Shiba Inu Dip

Tanju Akbıyık — Tue, 30 Apr 2024 11:30:47 +0000

Josh Olszewicz, a well-known crypto-trader and analyst, mentioned the daily Tenkan/Kijun crossing of Bitcoin in a recent X post. The Tenkan Sen line is short-term support in an uptrend and resistance in a downtrend. The Kijun Sen line is a source of medium-term support. These lines being associated may provide traders with significant market tips. When Tenkan Sen moves below Kijun Sen, the market sentiment is bearish. Since the crossover happened under the Ichimoku cloud, this signal might not end the bull trend. On the other hand, Bitcoin is being traded at $61,891 against the dollar, and in 24 hours it has gone down to 2.87% losses, as per CoinMarketCap.

Shiba Inu Price Drop Threatens Bullish Momentum

The Shiba Inu price drop is a threat to its bullish momentum. Last week, the Shiba price hit $0.000028 before a correction. Shiba Inu price decline correlates with Bitcoin’s week low. The recent price action hinges on the bulls defending the 69 trillion Shiba range despite the bearish pressure. Should Shiba bulls manage to sustain this important level, it could indicate strength and result in a bounce or rally. Nevertheless, bearish traders may argue that the current price level is not viable if the market fails to gain momentum. A lingering fall can cause panic and thus reduce the price of Shiba. Shiba has slid by 5.64% in the last 24 hours to $0.0000233.

74 Million XRP Was Impatiently Transferred to Wallets by Whales

XRP has witnessed a boost in the transactions of millions of tokens that are transferred to various wallets. In the last 24 hours, XRP has dropped by 1.25% to $0.5123, as have many other Cypto assets. Therefore, large XRP transfers signify whales buying the dip to profit from the market. Binance and Bitvavo shifted millions of XRP tokens to unknown wallets, which might be related to this strategic move. Whale Alert data tracker reported three huge trades of 74 million XRP: And 24,059,884 for the amount of $12,390,804; 26,336,059 for $13,563,030; and 24,118,600 at the cost of $12,461,230. Investors may be purchasing XRP coins at a low price due to the hike in whale activity.

P.S This is not an investment advice

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Altcoins’ Decline Signals Discount Opportunities

Tanju Akbıyık — Sat, 27 Apr 2024 14:30:13 +0000

Within the unpredictable environment of the cryptocurrency market, altcoins such as XRP and ADA have suffered as they display impressive year-to-date losses of 15% and 21%, respectively.

XRP’s Struggle and ADA’s Plunge

XRP, which is ranked as the sixth most valuable cryptocurrency with a market cap of roughly $28.56 billion, has had its market value crash to $0.51, representing a 17.69% fall since one month. At the same time, ADA, which is trading at $0.45, slides by 30.29% in its monthly performance.

Opportunities Amidst Market Volatility

Despite the fact that Bitcoin is primarily to blame for the recent price corrections, analysts generally have a bullish outlook.

Analyst Insights and Buying Opportunities

According to the analytic platform Santiment, altcoins are currently at a huge discount rate with respect to the upcoming bull rally. Colin Wu, a famous Asian-based reporter, compiles a compilation of the top 37 cryptocurrencies with negative growth on a year-to-date scale, bringing to light the possible buying opportunities in the turbulent market.

Navigating Altcoin Losses and Gaining Momentum

Some other significant altcoins, ICP, LINK, and AVAX, are also in the red, which reflects the market conditions. For example, ICP has experienced a slight negative growth year-to-date, trading at $13 now as a result of a rise earlier in the year. AVAX, which has been showing an upward trend since November 2023, now has a 38.7% loss monthly at the market price of $34.2. Also, LINK and other assets like APT and XLM registered negative growth, which suggests a general trend in the altcoin market.

Anticipating the Next Market Cycle

While the crypto market is in a phase of rather unstable conditions, investors are continuously on the lookout for signs of the next market rally. According to industry analysts and market intelligence, altcoins XRP and ADA, among others, may represent assets that are at a discount but are preparing for future growth, with Bitcoin and Ethereum at the forefront.

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XRP’s Possible Rise: Analyst Identifies a Chance for Generational Wealth

Tanju Akbıyık — Mon, 08 Apr 2024 18:24:17 +0000

The current Relative Strength Index (RSI) settings of the XRP/BTC pairing have been reviewed by renowned crypto specialist and analyst Egrag Crypto, and their findings present a positive picture for investors.. In latest analysis, the expert pointed out a unique opportunity for investors, suggesting that smart Ripple investments might create riches for centuries to come.

According to Egrag’s analysis, the cryptocurrency is about to enter a critical phase, and those who aren’t presently bullish about the future of the XRP/BTC combination could be missing out on a huge opportunity. The focus on the possibility of generating wealth over generations highlights the breadth of the opportunity, not only for short-term profits but also for creating a legacy of riches that may help present and future generations.

At the time of writing, XRP’s price was $0.5881, up 1.86% over the previous day and down 6.28% for the previous seven. Furthermore, XRP’s stated 24-hour trading volume of $949,318,005 shows a high level of market activity.

Conclusions About XRP

The analysis provided by Egrag Crypto presents a very optimistic outlook for XRP’s future moves in regard to Bitcoin. He made the argument that the current RSI configurations are favorable and may portend historically high financial gain for XRP holders or those considering an investment. The analyst’s positive outlook is contagious, sending a strong message to the XRP community that the market indications currently point to a unique and powerful potential for wealth creation that may last for several generations.

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XRP Price Stalls in Consolidation: Is a Big Move Coming?

admin — Sun, 31 Mar 2024 16:00:03 +0000

XRP (Ripple) has entered a period of sideways consolidation after a significant price drop, leaving investors questioning its next move. The cryptocurrency appears stuck in a tight range until a breakout triggers a directional shift.A closer look at the daily chart shows that Ripple’s market activity has slowed down, with the price consolidating sideways with very low volatility after dropping from the $0.75 level.

Despite this, the price has found strong support within a critical range, with a static region around $0.58 and dynamic support from the lower boundary of a triangle pattern. This suggests that buyers are active near this important level.

However, Ripple’s price seems to be stuck between the $0.66 and $0.58 levels in the medium term until a breakout occurs.

Looking at the 4-hour chart, Ripple’s price action appears indecisive after a significant decline from the $0.74 level. Nevertheless, XRP found support around the crucial $0.56 level, leading to sideways consolidation.

It is expected that Ripple’s price will remain within the significant support at $0.57 and the notable resistance at $0.66, indicating the possibility of extended consolidation within this crucial range until a breakout occurs.

A breach above the $0.66 level could potentially trigger a rally towards the $0.74 resistance level as the next key target for Ripple’s price movement.

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