• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
XRP price could hit 2 year low
Nexo

Ripple’s XRP Heading Towards Two-Year Low Against USD

davitbabayan by davitbabayan
3 years ago
in Altcoin Price, Altcoin News, Bitcoin
0
Advertisement

Ripple’s native asset XRP has dropped by up to 36 percent from its local top of $0.315. The third-largest cryptocurrency is now looking to extend its losses further to retest its two-year low.


The XRP/USD pair on Monday established a session low of $0.20041 on BitStamp cryptocurrency exchange. The downside price action drew the pair closer to its 23-month low situated at $0.19776, right before an upside correction missed it by a few cents. As a result, the probability of XRP hitting a two-year low increased, further accompanied by a large scale selling sentiment in the cryptocurrency market.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

ripple, xrp

Meanwhile, the asset’s Relative Strength Indicator on weekly charts has already established an all-time low. It broke below its 37.15-support last week, indicating a depleting buying sentiment in the XRP market. Slipping towards oversold levels typically renew buying interests, since the asset in concern becomes cheaper and – thus – offers attractive near-term returns. That could be the case for Ripple’s native asset, as well.

Transaction Volume Hits ATH

XRP’s latest fall comes at a time when its daily transactional volume has just registered its all-time high. The Ripple token on November 23 registered four times more on-chain traffic – 4 million – than its rivals Ethereum, Litecoin, and Bitcoin combined. Higher traffic showed that there were more people using XRP on the day which, in turn, hinted the asset’s bullish nature in the near-term.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

$XRP 4.1 million transactions per day 🤔🤔🤔$BTC $ETH $LTC #crypto pic.twitter.com/m6bngmLgCJ

— Gusaru (@_gusaru_) November 24, 2019

The spike followed Ripple’s announcement that it is investing an additional $20 million into the payment services company MoneyGram. The partnership prompts the Dallas firm to use XRP for cross-border money transfers. Bulls believe Moneygram’s involvement with Ripple could boost XRP’s adoption around the globe. As a result, the prices would go up, as well.

Nevertheless, the Moneygram-Ripple duo has been unable to bring any fresh buyers for XRP. On a year-to-date basis, the asset is still down by more than 40 percent against the US dollar. It surged meagrely on the day of Ripple’s announcement – by a mere 1.46 percent – only to negate those gains over the weekend and the ongoing Monday trading session.

XRP Dumpings

Part of the reason why investors are not keen to purchase XRP at lower rates is a wider bearish sentiment itself. The entire cryptocurrency market cap, according to data provided by CoinMarketCap.com has dipped from $269.39 billion to as low as $171.559 billion. Also acting as a catalyst is a deep fear of Ripple’s massive XRP-selling programs. The company has sold $106.87 million and $144.64 million worth of native assets in direct sales to institutions.

It’s the dilemma that has led many early investors to empty their XRP wallets.

Do you think XRP price can spring back? Add your thoughts below!


Images via Shutterstock, Twitter @_gusaru_ XRP/USD chart by Tradingview

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
davitbabayan

davitbabayan

Related Posts

bitcoin miners

Head To Head: Bitcoin Miner Revenues Surpass Ethereum But There’s More

8 hours ago
Sango, President Faustin-Archange Touadéra

The Central African Republic Unveils Sango Project, Disappoints The World

23 hours ago
Bitcoin

Bitcoin Legalization Pushed By Mexican Senator, Despite Central Bank’s Opposition

2 days ago
Oslo Freedom Forum, Lyn Alden screenshot

3 Lessons From The Oslo Freedom Forum: BTC Is Different – Neigut, Alden, Feinstein

2 days ago
Bitcoin

Bitcoin Funding Rate Turns Deep Red, Short Squeeze Soon?

3 days ago
El Salvador

El Salvador, Unfazed By The Bear Market, Buys 80 Bitcoin – Will Others Do The Same?

4 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.