• Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
Friday, March 24, 2023
  • Login
  • Register
Coin24h.com
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
Coin24h.com
No Result
View All Result
Ledger Nano X - The secure hardware wallet
ADVERTISEMENT

August 22 – Ripple (XRP) price could fall to $0.21 on this chart pattern

22 August 2020
in XRP
Reading Time: 3 mins read
A A
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
cryptotrader
ADVERTISEMENT


  • 20% of RippleNet transactions are performed with XRP token – Ripple official
  • XRP/USD has pulled back this week to trade almost 8% lower
  • A double top pattern has been in the making, signalling a potential correction to $0.2140 in the near future

Ripple (XRP) price has fallen nearly 8% this week as the sellers take control of the price action. The sellers have been working on a specific bearish chart pattern that could eventually take the price action to low $0.20s.

Fundamental analysis: 20% of RippleNet transactions is based on XRP 

Asheesh Birla, Senior Vice President of Product and corporate development at Ripple, has stated that 20% of RippleNet transactions are performed with XRP token.


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

“Our On-Demand Liquidity (ODL) product using XRP as a bridge currency accounts for nearly a fifth of all transactions on RippleNet,” said Birla in a tweet, and posted the following chart:

The RippleNet global payments network doesn’t normally leverage XRP, but the users can choose to use it and the transaction volume of the network remains unknown. Ripple’s on-demand liquidity (ODL) solution, however, leverages the token by default. 

Nearly a year ago, Ripple stated that over two dozen of its clients use the ODL solution, including some notable customers such as MoneyGram and Viamericas. However, the majority of customers reportedly receive some kind of stimulus from Ripple to use the ODL. 

Ripple rolled out the ODL solution last year and according to the company, there have been over  “7x the number of transactions using ODL from the end of Q1 to the end of October.”

At the moment, markets that support Ripple’s ODL are Mexico, the Philippines and Australia. The firm has recently announced that ODL will soon come to the Brazilian market as well as other places in Asia-Pacific (APAC), Europe, Middle-East and Africa (EMEA) and Latin America (LatAm). The ODL is expected to come to those countries later this year.

On the other hand, RippleNet, has experienced “10x year-over-year growth in transactions,” the company said last November. The company also said that its clients have exceeded the 300 mark.

Brad Garlinghouse, Chief Executive of Ripple said that utilizing XRP “to solve a real-world, $10T problem, like cross-border payments, is working.”

Technical analysis: A potential double top chart pattern 

XRP/USD has pulled back this week to trade almost 8% lower. The price action has created a bearish weekly candle that is likely to close below the 100-WMA at $0.2930. Hence, it is likely that we will see a continuation of the pullback in the week ahead as XRP buyers have lost control.

XRP/USD daily chart (TradingView)

What is even more worrying for the buyers is the fact that two equal tops have been put in place recently. If the price action breaks below $0.27, which is where the previous correction ended, that would activate the double top pattern. In this case, the target for the sellers is $0.2140.

Related articles

Uphold Unveils Coreum Airdrop Snapshot Timeline for Holders

Uphold Unveils Coreum Airdrop Snapshot Timeline for Holders

24 March 2023
Big News for Ripple (XRP) Sees 30% Growth, Orbeon Protocol (ORBN) Pumps yet Again, and Bitcoin (BTC) Outperforms Gold

Big News for Ripple (XRP) Sees 30% Growth, Orbeon Protocol (ORBN) Pumps yet Again, and Bitcoin (BTC) Outperforms Gold

24 March 2023

Summary

Ripple price has corrected lower this week as sellers take control of the price movements in the short term. Separately, Ripple’s Senior Vice President said that 20% of RippleNet transactions are performed using the XRP token.

[crypto-donation-box]
Cryptohopper
ADVERTISEMENT





Source link

Tags: AugustChartFallPatternPriceRippleXRP
Share76Tweet47
Ledger Nano X - The secure hardware wallet
Previous Post

Bitcoin Could See a “Glorious” Bounce Once it Taps This Crucial Level

Next Post

US Congressman: "Ripple (XRP) Is Not A Stock" – Somag News

Related Posts

Uphold Unveils Coreum Airdrop Snapshot Timeline for Holders

Uphold Unveils Coreum Airdrop Snapshot Timeline for Holders

24 March 2023
0

Read U.TODAY on Google News Multi-asset digital trading platform Uphold has announced support for the Coreum token and also for...

Big News for Ripple (XRP) Sees 30% Growth, Orbeon Protocol (ORBN) Pumps yet Again, and Bitcoin (BTC) Outperforms Gold

Big News for Ripple (XRP) Sees 30% Growth, Orbeon Protocol (ORBN) Pumps yet Again, and Bitcoin (BTC) Outperforms Gold

24 March 2023
0

It has been a bullish week for the crypto market, with Ripple (XRP), Orbeon Protocol (ORBN), and Bitcoin (BTC) all...

Binance US To Get Wells Notice Next? XRP Lawyer Claims This

Binance US To Get Wells Notice Next? XRP Lawyer Claims This

24 March 2023
0

Crypto News: The global digital asset industry is constantly in the crosshair of the U.S. Securities and Exchange Commission (SEC)....

XRP breaks out of four-month range, bulls anticipate surge past $0.5

XRP breaks out of four-month range, bulls anticipate surge past $0.5

23 March 2023
0

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s...

XRP Lawyer’s ‘Connect to Congress’ On SEC Crypto Overreach

XRP Lawyer’s ‘Connect to Congress’ On SEC Crypto Overreach

23 March 2023
0

XRP News: XRP Lawyer John Deaton launched a campaign ‘Connect to Congress’ over the U.S. Securities and Exchange Commission’s (SEC)...

Load More
Next Post

US Congressman: "Ripple (XRP) Is Not A Stock" - Somag News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Categories

  • Altcoin
  • ApeCoin
  • Bitcoin
  • Blockchain
  • BNB
  • Cardano
  • Cryptocurrency
  • DOGE
  • DOT
  • Ethereum
  • HBAR
  • Litecoin
  • Market
  • Meta News
  • Mining
  • NFT
  • QNT
  • Regulation
  • SHIBA
  • Solano
  • Tether
  • Uncategorized
  • XDC
  • XLM
  • XRP

What’s New Here!

  • A Sudden Onset of Hyperinflation: What Will Happen to Bitcoin?
  • Decentralized Media Via Web3: A Solution to Bias and Trust Issues in News?
  • Baby Doge Passes $10M in Token Locks, Nears $60M in TVL

Newsletter

  • About Us
  • Privacy Policy
  • Contact Us

© 2022 coin24h.com

No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining

© 2020 coin24h.com

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$28,061.00-2.09%
  • ethereumEthereum(ETH)$1,775.16-3.36%
  • tetherTether(USDT)$1.01-0.76%
  • binancecoinBNB(BNB)$322.78-2.49%
  • usd-coinUSD Coin(USDC)$1.010.16%
  • rippleXRP(XRP)$0.429249-5.97%
  • cardanoCardano(ADA)$0.364642-4.92%
  • dogecoinDogecoin(DOGE)$0.075177-4.45%
  • staked-etherLido Staked Ether(STETH)$1,770.38-3.35%
  • matic-networkPolygon(MATIC)$1.10-4.26%
  • solanaSolana(SOL)$21.11-6.12%
  • binance-usdBinance USD(BUSD)$1.010.05%
  • polkadotPolkadot(DOT)$6.13-4.63%
  • litecoinLitecoin(LTC)$92.60-2.39%
  • shiba-inuShiba Inu(SHIB)$0.000011-2.86%
  • tronTRON(TRX)$0.0643330.05%
  • avalanche-2Avalanche(AVAX)$17.20-2.66%
  • daiDai(DAI)$1.00-0.01%
  • uniswapUniswap(UNI)$5.99-6.72%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$28,071.00-1.82%
  • chainlinkChainlink(LINK)$7.36-3.38%
  • cosmosCosmos Hub(ATOM)$11.38-3.96%
  • leo-tokenLEO Token(LEO)$3.421.64%
  • ToncoinToncoin(TON)$2.12-8.04%
  • moneroMonero(XMR)$158.641.91%
  • ethereum-classicEthereum Classic(ETC)$20.32-3.57%
  • okbOKB(OKB)$43.50-3.56%
  • bitcoin-cashBitcoin Cash(BCH)$125.76-3.36%
  • stellarStellar(XLM)$0.089475-5.10%
  • filecoinFilecoin(FIL)$5.65-4.87%
  • AptosAptos(APT)$12.51-4.24%
  • true-usdTrueUSD(TUSD)$1.01-0.04%
  • lido-daoLido DAO(LDO)$2.17-9.00%
  • hedera-hashgraphHedera(HBAR)$0.060586-4.63%
  • quant-networkQuant(QNT)$123.10-4.67%
  • nearNEAR Protocol(NEAR)$2.02-2.75%
  • crypto-com-chainCronos(CRO)$0.068819-2.51%
  • ArbitrumArbitrum(ARB)$1.345.65%
  • vechainVeChain(VET)$0.023300-2.14%
  • algorandAlgorand(ALGO)$0.212541-4.64%
  • apecoinApeCoin(APE)$4.10-1.66%
  • internet-computerInternet Computer(ICP)$5.06-3.79%
  • blockstackStacks(STX)$1.05-12.89%
  • eosEOS(EOS)$1.203.02%
  • fantomFantom(FTM)$0.464430-7.89%
  • the-graphThe Graph(GRT)$0.144283-6.65%
  • the-sandboxThe Sandbox(SAND)$0.64-5.26%
  • decentralandDecentraland(MANA)$0.60-3.86%
  • elrond-erd-2MultiversX(EGLD)$42.84-2.90%
  • aaveAave(AAVE)$74.55-5.57%