Use or Speculation: What's Driving Ripple's Price to All-Time Highs?
Even by cryptocurrency's often exaggerated market standards, the price of XRP has been on a tear of late. The cryptocurrency that powers the distributed Ripple Consensus Ledger, a business-focused distributed ledger technology platform developed by San Francisco startup Ripple, has surged more than 1,000% over the last 30 days, reaching a new all-time high on 2nd April. But what's the reason for the sudden surge? So far, markets have been left to speculate, watching as the wider cryptocurrency markets have seen new volatility. Yet, Ripple is now weighing in on the market activity, arguing....
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Recent price action has shown that XRP is establishing the $3 price level as a base, and an analysis of its fundamentals indicates various conditions that could push its price to multiple all-time highs. According to crypto analyst David_kml, XRP is no longer confined to speculation but is steadily becoming a vital part of global finance. This trend is very important in its push to new price highs. At the same time, XRP’s chart structure on the weekly candlestick timeframe shows that it may be approaching a breakout similar to Ethereum’s explosive run between 2016 and 2018. Related....
It’s morning time in Europe again, and as such, time to put forward our first analysis of the day in the bitcoin price. We’ve been craving some volatility over the last few days, and action last night finally gave us that volatility. Having initially gained to overnight highs just ahead of 455, price looked pretty solid this morning as the European session opened. However, as we write this, price has collapsed to carve out intraday lows at 451.45. Exactly what is driving this selloff is unclear. It may just be that short-term speculators are pulling profits out of the market on the back of....
The Ripple Swell conference in Dubai concluded without the much-anticipated announcement of an Initial Public Offering (IPO) by Ripple, leading to a surge in speculation about the fintech company’s future plans. Crypto influencer Eri weighed in on the discussion, urging caution and a nuanced approach. Ripple IPO Not So Soon? Eri emphasized the importance of […]
The XRP community’s attention has been drawn to a $600 million transfer, which has sparked speculation about its potential impact on the altcoin’s price. The transfer notably originated from a Ripple wallet address, further fueling speculations that the crypto firm is dumping on retail investors. $600 Million in XRP Tokens Moved by Ripple Spark Speculation Whale Alert data shows that Ripple moved 200 million XRP ($610 million) from one of its wallets, sparking speculation that the crypto firm was looking to offload these coins. Moreover, the transfer comes as XRP struggles to hold above....
Is the early stage of the hard fork potentially driving this price rally of Bitcoin? It’s definitely possible, but it could also be a variety of other factors as well. Over the past week the price per Bitcoin has shot up almost $40.00 USD and there has been some speculation about whether that spike has had anything to do with the news about the hard fork to Bitcoin Classic. There have been some concerns about the hard fork due to some issues with scaling, adoption, regulation, legality and liability. Yet there have been vocal supporters of the hard fork in the space that have championed....