XRP Could Outperform Bitcoin (BTC) And Ethereum (ETH)

XRP Could Outperform Bitcoin (BTC) And Ethereum (ETH)

The whole crypto space is on fire these days ahead of the halving. Bitcoin is scheduled to witness its third halving on May 12, and at the moment of writing this article, the most important coin is trading in the green.

Currently, BTC is priced at $9,275.95 on CMC.

The online publication the Daily Hodl notes that a trader and technical analyst who goes by the name of TraderSZ said that the altcoins will outperform BTC over the next year and if he had to choose just one, it would be XRP.

In a new interview of the Coinist Podcast with trader Luke Martin, TraderSZ said that XRP might be the biggest gainer over the next year.

The digital asset powers Ripple’s ODL which has been created to be a faster solution rather than BTC.

Ripple’s On-Demand Liquidity was created to overcome the flaws of the traditional payments system SWIFT which has been used by banks and financial institutions for decades now.

ODL was previously known as Rapid, but it got another name after a rebranding process.

“For gain, percentage-wise, it’s probably going to be XRP.”

The trader says that XRP offers the possibility of generating massive gains, but TraderSZ doesn’t believe that it will prosper in the long term.

“I pick that because percentage-wise, [it is] probably going to have bigger percentage moves compared to [BTC or ETH] even though it’ll probably go to zero eventually. Might as well milk it. I’ll speculate on it while it’s giving me an opportunity.”

He also added the fact that XRP will definitely be able to create unique opportunities for traders.

“Crypto is a very unique asset class that it has fans for each asset. But XRP out of any – I think it’s going to create the most inefficient opportunities because you either love it [or hate it],” he said as cited by the Daily Hodl.

At the moment of writing this article, XRP is trading in the red and the coin is priced at $0.215447.

Source: cryptogazette.com

Author: [email protected]·5h


EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 07/05/20

EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 07/05/20

EOS slid by 4.12% on Wednesday. Following a 0.01% gain on Tuesday, EOS ended the day at $2.6573.

A choppy start to the day saw EOS fall to an early morning low $2.7340 before striking a late morning intraday high $2.8211.

Falling short of the first major resistance level at $2.8302, EOS slid to a final hour intraday low $2.6108.

EOS fell through the first major support level at $2.7068 and the second major support level at $2.6441.

Support at the end of the day led to a move back through the second major support level.

At the time of writing, EOS was up by 1.14% to $2.6876. A mixed start to the day saw EOS slide to an early morning low $2.5888 before striking a high $2.6896.

EOS left the major support and resistance levels untested early on.

EOS would need to move through to $2.6970 levels to bring the first major resistance level at $2.7820 into play.

Support from the broader market would be needed, however, for EOS to break out from the morning high $2.6896.

Barring an extended crypto rally, the first major resistance level at $2.7820 would likely limit any upside.

Failure to move through to $2.6970 levels could see EOS hit reverse.

A fall through the morning low $2.5888 would bring the first major support level at $2.5717 into play.

Barring an extended crypto sell-off, however, EOS should steer well clear of the second major support level at $2.4861.

Major Support Level: $2.5717

Major Resistance Level: $2.7820

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum slid by 3.04% on Wednesday. Following on from a 0.77% fall on Tuesday, Ethereum ended the day at $199.26.

A mixed start to the day saw Ethereum fall to an early morning low $202.12 before striking a mid-day intraday high $211.21.

Coming up against the first major resistance level at $211.29, Ethereum slid to a final hour intraday low $198.18.

Ethereum fell through the first major support level at $200.45 to wrap up the day at sub-$200.

At the time of writing, Ethereum was up by 2.14% to $203.53. A mixed start to the day saw Ethereum fall to an early morning low $196.82 before striking a high $203.99.

Ethereum left the major support and resistance levels untested early on.

Ethereum would need to move through to $205 levels to bring the first major resistance level at $207.59 into play.

Support from the broader market would be needed, however, for Ethereum to break out from the morning high $203.99

Barring an extended crypto rally, the first major resistance level would likely leave Ethereum short of $210 levels.

Failure to move through to $205 levels could see Ethereum give up the early gains.

A fall back through to sub-$203 levels would bring the first major support level at $194.56 into play before any recovery.

Barring a crypto meltdown, however, Ethereum should steer clear of the second major support level at $189.85.

Major Support Level: $194.56

Major Resistance Level: $207.59

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP slid by 2.29% on Wednesday. Following on from a 0.55% fall on Tuesday, Ripple’s XRP ended the day at $0.21198.

Recovering from an early morning low $0.21469, Ripple’s XRP struck a late morning intraday high $0.22241 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.2218 before sliding to a final hour intraday low $0.21000.

The reversal saw Ripple’s XRP slide through the first major support level at $0.2124.

At the time of writing, Ripple’s XRP was up by 1.39% to $0.21492. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.20981 before striking a high $0.21492.

Ripple’s XRP left the major support and resistance levels untested early on.

Ripple’s XRP will need to move back through to $0.2150 levels to support a run at the first major resistance level at $0.2196.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.21492.

Barring an extended crypto rally, the first major resistance level would likely limit any upside on the day.

Failure to move through to $0.2150 levels could see Ripple’s XRP fall back into the red.

A fall through the morning low $0.20981 would bring the first major support level at $0.2072 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of the second major support level at $0.2024.

Major Support Level: $0.2072

Major Resistance Level: $0.2196

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

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Source: finance.yahoo.com

Author: Bob Mason


Ethereum Price Analysis: ETH Fails to Sustain Uptrend, Further Selling Pressure Likely |

Ethereum Price Analysis: ETH Fails to Sustain Uptrend, Further Selling Pressure Likely |

  • Ethereum battles minor resistance at $210
  • The uptrend resumption is possible if price rebounds at $200 low
  • The current price: $206.49
  • Market Capitalization: $22,884,187,678
  • Trading Volume: $20,885,386,925
  • Major Resistance Zones: $175, $200, $225
  • Major Support Zones: $125, $100, $75
  • What cryptocurrency will become the main one in a year?
    BitcoinEthereum

    Today, Ethereum is retracing after being resisted at the $210 resistance. Buyers have failed to sustain the uptrend after the breakdown at the $227 overhead resistance. Since April 30, Ether has not traded above $227 resistance. This was as a result of the selling pressure at the overhead resistance. At first, the coin fell to $0.21 low after the first resistance at $227. The bulls made a downward correction to the high of $220, but the selling pressure continued. The coin revisited the $0.21 support. Again, the bulls are unrelenting as ETH was pushed to $210 high.

    Buyers were repelled thrice at the $210 resistance as price retested resistance. In the meantime, the cryptocurrency is falling and approaching the critical support level. On the upside, if ETH retraces to $200 low, it might rebound which will catapult it to scale above the resistances. The momentum will extend to the $250 resistance. On the downside, if price retraces and breaks below $200, the market will drop to $168 low.

    ETH/USD – Daily Chart

    Since April 29, Ether reached the overbought region at $0.23500 high. In the same vein, ETH is above 90% range of the daily stochastic. This resulted in the emergence of sellers to push prices downward. The market has fallen and Ethereum is below 60% range of the daily stochastic, indicating a bearish momentum. However, this is contrary to the price action which indicates a bullish signal.

    Never miss out on our daily crypto news, stories, tips, and price analysis.  Join us on Twitter | Telegram | Facebook or subscribe to our weekly Newsletter. 

    Source: zephyrnet.com

    Author: Published 18 hours ago on May 7, 2020


    Bitcoin Whales Change Course As Halving Approaches: BTC, Ethereum, XRP Analysis

    Bitcoin Whales Change Course As Halving Approaches: BTC, Ethereum, XRP Analysis

    Researchers at the crypto analytics platform Santiment are tracking a turnaround in the number of crypto whales buying Bitcoin (BTC).

    According to a new report, holders with 1,000 to 10,000 BTC began accumulating this week, which could signal that they’re aiming to move the price higher in the short term in anticipation of a selloff after the halving. Santiment also says a significant number addresses that have remained dormant are now moving BTC, in a sign that traders may attempt to sell the top in anticipation of a coming drop in the price of Bitcoin.

    Overall sentiment surrounding the Bitcoin halving may be changing as well, according to Santiment’s head of content, Dino Ibisbegovic.

    “Our social media data suggests an increasingly bearish outlook on the pre-halvening price action…

    The Bitcoin-related sentiment was sky-high on most social media channels in last week’s run up to $9k. Since then, however, we’ve seen the mood cooling down. This is most visible on Telegram, which recorded a 3-month high in bullish BTC sentiment during last week, only to decline dramatically since the move above $9k.“

    Meanwhile, a pair of top strategists are analyzing the short-term prospects of Ethereum (ETH) and XRP.

    A pseudonymous trader who goes by the name Jack tells his 37,000 followers on Twitter he’s expecting ETH to rally until the expected launch of Ethereum 2.0 in July. He’s calling that an ideal time to sell.

    “If we get the rally on Ethereum I am expecting, then July seems like the perfect sell the news moment with the ETH 2.0 launch. Aligns with multiple analysis angles that expect June/July to be leading in to a market wide retrace, which I’ll start sharing over the next weeks.”

    Veteran analyst Peter Brandt says XRP investors are clinging to a key level of support against Bitcoin.

    If the third-largest cryptocurrency by market cap can’t hold onto its current price of about 21 cents and BTC rises, he’s predicting a potential crash to around 10 cents.

    “I am a fan of simplicity in a chart. This chart tells me the bag holders (who need to dump > 40 Bil XRPs) are supporting XRP/BTC at .000023 to .000024 as a desperate last stand. Sellers more aggressive since Oct ’19 If the bag holders back away, look for decline to $.000011.”

    Source: dailyhodl.com


    XRP Could Outperform Bitcoin (BTC) And Ethereum (ETH)

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