On Thursday, XRP is still the only top 10 coin in green in the past week, outperforming not only Bitcoin (BTC) and Ethereum (ETH).
At pixel time (12:27 AM UTC), XRP is trading at c. USD 22 and, as prices have stabilized since the end of November, XRP bulls have trimmed monthly losses against the greenback to less than 19%. The coin is down by almost 1% in the past 24 hours, and is up by 1.3% in the past week. The price is still down by 28% in a year. XRP is also up against BTC and ETH by almost 5% in a week.
Top 10 coins:
XRP price chart:
Better weekly performers can be found in the top 20, where Tezos (XTZ) jumped 23%, Cosmos (ATOM) – 11%.
However, despite this green week, XRP remains at a precarious position. Technically, bears are in a commanding position. From the XRP/USD candlestick arrangement in the daily chart, the down trend is pronounced. Also, the failure of XRP bulls to break and close above the middle Bollinger Band (BB), or the 20-day moving average, suggest that XRP may consolidate going forward.
Nonetheless, in relation to the lower BB, XRP price may after all recover. Candlesticks are diverging away from the lower BB indicating low bearish momentum and a possible accumulation. Moreover, the failure of bears to close below the November 2019 lows, combined with supportive fundamental events, may favor bulls in the immediate term.
Recent Ripple, XRP news:
- Ripple, an American blockchain company focusing on payments technologies, announced a developer portal, as well as a number of updates and additions to Xpring, XRP Ledger, Interledger, and their blog this week.
- In a recent court filing, Ripple once again dismissed claims that XRP is a security, and added that even if XRP were a security, the plaintiffs still brought the case against the company too late.
- Japanese financial giant SBI said it is considering issuing XRP tokens as company-wide shareholder rewards.
- Ripple made the final USD 20 million investment in MoneyGram, a major money transfer company, equity pursuant to Ripple’s original USD 50 million equity investment commitment made earlier this year.