Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
The price of XRP remains stable in an otherwise volatile market, currently selling at $2.15 with a an impressive 13% increase in the last seven days. The cryptocurrency holds on to being part of the top three digital currencies despite indicators pointing in varying directions.
Though short-term price action indicates a period of consolidation, long-term potential for growth continues to be a possibility for investors monitoring this Ripple-supported coin.
Trading Volume Falls But Price Still Resilient
The recent price movement of the coin has been hard to forecast. XRP has established lower highs and lower lows over the last day, leaving everyone wondering which way it will go next. The small 1.20% increase in the last 24 hours might not be the full picture, as the price is currently below today’s high of $2.18.
Trading volume has dropped by 12% over the past 24 hours to $3.4 billion, from a high of more than $4 billion. Open Interest has also dropped by over 5%, with just 1.45 billion XRP (valued at $3 billion) locked in futures markets.
In spite of these declining trends in trading activity, XRP’s price has not imploded. Technical indicators suggest a neutral Relative Strength Index (RSI) of 49, which means selling pressure has dissipated. The Bollinger Bands indicator indicates lower price volatility.
Weekly Performance Depicts Optimism
If one looks at the larger time frame, the bigger picture is more optimistic. XRP has risen by 13% in the last week, compared to several other cryptocurrencies.
According to CoinShares’ latest digital asset report, only the top altcoin, XRP, had investment inflows, while both Bitcoin and Ethereum had outflows. This interesting trend is indicative of institutional investor trust in XRP when all other top cryptocurrencies are experiencing selling pressure.
Corporate Developments Might Fuel Future Growth
Ripple Labs’ new business developments may influence the price of XRP in upcoming weeks. The company has acquired Hidden Road, a leading prime brokerage company, which has been its first foray into traditional financial markets.
According to reports, both XRP and RLUSD (Ripple’s USD stablecoin) have roles to play in this development. This conventional finance adoption may increase the price and usage of XRP if the company’s strategy works out.
The future of the cryptocurrency appears to be linked with both global market trends and Ripple’s business growth. Although immediate price movements are unstable with contradictory signs from market indicators, corporate growth and institutional interest offer growth catalysts.
Meanwhile, market technicians are keeping a close eye on major technical levels and trading trends, but the combination of reduced volatility and continued weekly gains indicates XRP might be setting the stage for a more meaningful price move in the near term.
Featured image from Pexels, chart from TradingView
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
