Analyst Gives 3 Reasons Why XRP Price May Fall 35% – Crypto Money Daily
Ripple blockchain’s native token XRP is up more than 25 percent so far into 2020. Nevertheless, the fourth-largest cryptocurrency is still looking to pare those gains, according to a string of bearish indicators brought forward by a TradingView.com analyst.
The US-based chartist pitted XRP/USD against three technically bearish setups. They included a long-term Moving Average wave, a Bearish Divergence between price and momentum, and a ‘death cross.’ Together, all three suggesting an extended dive towards $0.15, a classic support level situated 35 percent below the current rate.
Ripple chart shows XRP/USD in a large downtrend move. Source: TradingView.com
At first, the TradingView analyst highlighted a trail of lower highs and higher lows that XRP/USD has been leaving behind since 2018. The pair lately broke above the downward channel (in blue), but a strong upside rejection near the 200-week moving average curve threatened to push it back inside the range.
“You can see that price first fell below 200-WMA (in purple) in the summer of 2019,” the analyst explained. “XRP has consistently failed to rally back above the 200-WMA. It has been rejected there on the past three major attempts.”
He combined the XRP downtrend–especially the recent bearish wave–with its otherwise improving Relative Strength Index (RSI). The indicator reflects the strength or weakness of an asset, based on the closing prices of a recent trading period. The XRP’s weekly RSI grew higher–a sign of higher buying momentum–despite its spot rate trending lower.
“That’s a bearish divergence that could lead to weakness in the coming weeks,” the analyst said. “Although, there has already been a breakdown of the divergence on the RSI.”
XRP was also trading downwards under the influence of a ‘Death Cross.’ It is a bearish indicator that comes into view after an asset’s long-term moving average closes above its short-term moving average. In the case of XRP, its weekly 200-WMA (purple) leaped over its 50-WMA (blue) back in January 2020, creating a so-called bearish crossover.
XRP/USD's 200-WMA jumped above its 50-WMA. Source: TradingView.com
“It is a sign of prolonged weakness,” the analyst noted.
Apart from these three reasons, lower trading volume and volatility also left XRP’s latest upside move in a doubtful stage. The token attracted fewer traders over the last two years. That may have to do with an ongoing class-action lawsuit against its parent company, Ripple Labs, over whether or not XRP is security.
The San Francisco-based blockchain startup has reported its lowest quarterly sales in Q1 2020, selling just $1.75 million worth of XRP.
Cryptocurrency Mining Hardware Market- Roadmap for Recovery from COVID-19|Rising Popularity Of Mining Pools to boost the Market Growth
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200916005073/en/
Technavio has announced its latest market research report titled Global Cryptocurrency Mining Hardware Market 2020-2024 (Graphic: Business Wire)
[ Back To TMCnet.com’s Homepage ]
No, Another $1 Billion In Tether (USDT) Wasn’t Added To The Crypto Market Cap
This week, over $5 billion in Tether (USDT) was minted and added to the stablecoin’s circulating supply and market cap. A correlation with newly minted USDT and Bitcoin pumping has sent the crypto community into a tailspin.
Today, an automated Twitter account that alerts investors as to when new Tether is minted claimed another $1 billion was added, but that’s not quite the case. Before Bitcoin investors expect another major pump, here’s what really happened and what this actually means for crypto.
Tether, the controversial stablecoin is now the third most dominant cryptocurrency in the entire industry, rising out of the bear market as the one clear winner. No coin has benefitted from the crypto winter as much as the stable flight to crypto safety has.
USDT as a token has several uses. It offers a stable store of wealth, a means of exchange, and a hedge against crypto market volatility and downturns. It grew in popularity chiefly due to crypto traders moving into USDT instead of actual dollars to keep capital in the crypto market, but away from Bitcoin, Ethereum, and others that are more susceptible to violent price swings.
Today, however, its the base currency on most cryptocurrency trading platforms, and an ideal choice for sending funds around the internet thanks to its peg to the dollar.
Stablecoins, not just Tether, have grown immensely recently, showing the demand for digital dollars with more integrity than what Tether offers. Although nothing has ever been proven, a dark cloud has ominously hung over the stablecoin and its parent company by association.
Tether has been accused of being central to everything from Bitcoin price manipulation to being insolvent. Its also been embroiled in several high profile court cases, but its supply keeps on climbing.
BTCUSDT Versus Tether USDT Market Cap | Source: TradingView
Each time the supply increases, Bitcoin pumps. Or so it seems. The one time a massive amount of USDT was pulled from the crypto market, Bitcoin plummeted to its bear market bottom at $3,200.
Since then, every time more supply is injected into the crypto market, the top crypto asset soars. The ongoing correlation appears to indicate that Bitcoin is about to rise more than it ever has in the past.
And its got crypto investors watching the USDT supply like a hawk for the next major printing and pump in Bitcoin. Today, an alert got the community up in arms when another $1 billion in Tether was said to be printed. However, that was not the case.
What actually took place, was a coordinated effort with a third-party to swap out $1 billion of the USDT supply off of the Tron blockchain and onto Ethereum as an ERC-20 token.
— Tether (@Tether_to) September 14, 2020
Ethereum-based Tether has exploded as the most dominant chain of the stablecoin, however, rising gas fees recently has made USDT and other stablecoins expensive to send.
It is not clear what the motivation was behind the swap, but there is no reason to expect what is effectively $1 billion removed and re-added will cause Bitcoin or any crypto assets to pump.
Featured image from DepositPhotos, Charts from TradingView
Author: Tony Spilotro
Cryptocurrencies archive news by date
- Litecoin long-term Price Analysis: 15 September
- INX Becomes the First SEC-Registered IPO to Accept Crypto
- Tokenized Bitcoins on DeFi now worth over $1 billion
- Curve, Aave, Synthetix and 7 others join Global DeFi Alliance
- The US has blacklisted 23 crypto addresses allegedly linked to the election meddling – a report by Saumil Kohli.
- YAM Tokens Surge 40% as v3 Relaunch is Announced
- CFTC Files Complaint Against Operators of Global Trading Club
- Bitcoin Spent Output Profit Ratio Shows Bull Market Signal
- Eastern Europe’s sixth-largest crypto service is a darknet market
- Fisco Files Complaint Against Binance for Facilitating Money Laundering
- Bitcoin Records 12-Day High As Equity Markets Recover (Market Watch)
- Bitmain co-founder Jihan Wu reinstalled as legal Rep
- Ethereum Price Analysis: ETH Could Gain Momentum Above $390
- DeFi Pulse Index (DPI) Liquidity Pool Surges to $640 Million
- Bitcoin Revolution South Africa: Scam Claims Support by President Cyril Ramaphosa
- Dow Jones and Nasdaq Jump on COVID-19 Vaccine News and Tech Stocks Rally
- Pompliano And The US Fed Changed Jim Cramer’s Mind On Bitcoin
- Ripple accuses YouTube of being “wilfully blind” and allowing XRP scams – a report by Saumil Kohli.
- Reshaping the Financial Sector of the Middle East With Finnovex Middle East 2020
- Top Analyst Says One Altcoin Massively Undervalued, Goes Long on Bitcoin, Ethereum and 3 Crypto Assets
- Wrapped NXM coin increased over 44 percent in 24 hours
- TrueUSD (TUSD) Trades in Bearish Mode Below $1
- ConsenSys’ Anti-Speculation Platform Activate Completes $5 Million SKALE Token Sale
- Ripple (XRPUSD) price shows momentum after a 1.4 percent gain
- Nasdaq-Listed MicroStrategy Inc. Tells U.S. SEC It May Buy Even More Bitcoin
- Binance exchange accused of facilitating money laundering
- Top Banks Lose $635 Billion in Market Cap During 2020
- Cardano (ADA) Price Analysis: Bulls Eye Upside Break Above $0.10
- DApps can now send push notifications to Ethereum wallet users
- Bitcoin price rises to $10700, will it hold?
- Binance is sued by Japanese crypto exchange Fisco for allegedly facilitating the laundering of $9 million
- Market Analysis Report (15 Sep 2020)
- Oracle Confirms Being Trusted Technology Partner for TikTok U.S., Government Approval Awaited
- Bitcoin Cash, Monero, Dogecoin Price Analysis: 15 September
- CNBC Co-Anchor Jim Cramer: ‘I Now Think Bitcoin is Prudent’
- Japanese Crypto Exchange Accuses Binance of Helping Launder $9M From 2018 Hack
- Komodo Adds QRC20 Support on AtomicDEX Core Engine
- No iPhone Update at Apple September Event, New iPad Air and Apple Watch 6 in the Spotlight
- Japanese crypto exchange Fisco sues Binance for allegedly facilitating the laundering of $9 million – a report by Saumil Kohli.
- Tesla (TSLA) Stock Up 12.58% amid United States Tech Rebound
- Hong Kong’s Bitcoin Community Continues Advertising BTC on Trams and Billboards
- TRON to Maintain SUN Genesis Mining for 14 Days After Launch
- DeFi bug results in loss of $8m in Ethereum, Chainlink, and stablecoins
- Filecoin: Understanding the Complex Crypto System Meant to Rival AWS
- Palantir Set to Go Public via Direct Listing
- Lawsuit Alleges Binance Processed $9.4 Million of Stolen Funds
- Nigeria’s SEC Says All Crypto Assets Are Securities by Default
- The Litecoin Blockchain Gets its Own RPG: LiteBringer
- BNB Fumbles at $33, Binance Get Sued and More News from the Exchange
- After Purchasing $250M Worth Of Bitcoin Last Month, MicroStrategy Is Looking To Increase Its Crypto Holdings
- Global Fiat Failure Will Push Countries into Bitcoin, Says Max Keiser
- Toyota Backed Crypto, OMG Network, Is On The Rise, And Here’s What You Need To Know
- CFTC Filed a Complaint Against Operators of an Alleged $1 Million Bitcoin Investment Scheme
- MakerDAO’s Vote to Enrich Investors Puts DAI Stability at Risk
- DeFi, Sustainability, & the Future of Crypto Mining: Core Scientific VP Speaks
- Brock Pierce Served Court Papers for Fraud Lawsuit at His Own Presidential Campaign Rally
- Don’t expect another Bitcoin price ‘catastrophic dump’ — analyst
- Nigeria to regulate crypto, the country’s SEC issues statement
- Binance Smart Chain Network Gaining Ground on Ethereum Transaction Volume
- Qtum Trades Below $3 with a Complete Bearish Crossover
- Analyst ‘Cautiously Bullish’ on Bitcoin but Says Equity Sell-Off Still a Threat
- Fundraising Breakthrough: DeFi Protocols Reinvent Token Offerings
- Russia’s largest bank joins blockchain trade finance platform
- Binance sued for allegedly facilitating money laundering with ‘lax KYC’
- Ethereum price hits $370 following BTC rally, what’s next?
- Jihan Wu gains the legal upper hand in the ongoing power struggle for Bitmain – a report by Saumil Kohli.
- Market Cap of FANGMAN Stocks Surges to $7.3 Trillion Amid Persisting Coronavirus Pandemic
- Regulations Will Make Demand for XRP ‘Skyrocket’, Says Crypto Analyst
- Futures traders are short Bitcoin — 3 reasons it won’t stop the rally
- CoinBox: A Name to be Reckoned in the Crypto Storage Space
- Investment Platform BnkToTheFuture to Integrate KYC Identity Solution from Blockpass
- Google Set to Unveil New Pixel Phone, Chromecast and Smart Speaker at Its September 30 Event
- India plans to bring law to ban crypto trading: Report
- Bullish For Bitcoin Price? Indicators on BTC Futures and Options Turned Green
- Another Bitcoin crash in the making? Here’s everything you need to know
- YouTube Debuts Its TikTok Rival Called Shorts, Bringing New Ways to Watch and Create Videos
- The US CFTC files a complaint against four individuals for soliciting funds to speculate in BTC – a report by Saumil Kohli.
- Nigeria Regulates Crypto After Bowing to Bitcoin Adoption
- Bitcoin Will Make Gains Above $100,000, Says PlanB
- Cardano (ADAUSD) prices at $0.0955 consolidating for another strong bearish move
- NYAG Calls on Tether to Provide Overdue Financial Documents
- GoodRx Files for $900M IPO, Gets $100M from Silver Lake and Acquires Scriptcycle
- Chainlink oracles will now power Crypto.com’s DeFi Wallet
- US Consumers Flock To the First Mastercard Branded BitPay Card
- Bitcoin, Ethereum, Gold Analysis, Levels to Watch
- Microstrategy Invests Another $175 Million in Bitcoin, Pushing Holdings to $425 Million
- US Regulators to Introduce Unified Rules for Crypto Companies
- Hong Kong’s Crypto Mining Startup that is Improving the Cryptocurrency Mining Space
- MicroStrategy makes good on promise to buy another 17K Bitcoin
- MicroStrategy Buys Another 16,800 Bitcoin—worth $183 million
- Hedera Hashgraph Appears Regaining the Lost Momentum
- US Plans to Simplify Regulation Process for Cryptocurrency Firms
- MicroStrategy Buys $175M More in Bitcoin, Upping BTC Holdings to $425M
- MyEtherWallet launches open-source Ethereum block explorer
- MicroStrategy Bitcoin buys now total $425M
- Bitcoin Tokenized on Ethereum Near $1 Billion
- US State Regulators Agree to Single Set of Rules for Fintech, Crypto Firm Licensing
- Alleged crypto Ponzi scheme targeting Spanish speakers freezes user funds
- Binance-Listed Bella Token (BEL) Witnesses Over 1000% Price Surge
- India Is Considering A Law to Ban to Cryptocurrency Trading Again
- Blockstack Rises from the Recent Bottom; Trades at $0.203
- Bitcoin Retakes $200 Billion Market Cap in Sudden Surge
- India Said to Be Preparing to Ban Cryptocurrency Trading: Bloomberg
- MicroStrategy CEO says the publicly traded firm has bought another $175 million in bitcoin
- MyEtherWallet Debuts Open Source Blockchain Explorer
- Morgan Stanley Veteran Calls XRP Clear Leader in Cross-Border Space, Says Bitcoin and Crypto Portfolios Offer Unique Chance to Earn 100x
- First Mover: Bitcoin Investors the Sane Ones as Federal Reserve Cheers Inflation, Price Nears $11K
- Tezos Becomes a Favorite to Power the Digital Euro
- Binance Sued For Allegedly Helping Launder $9.4M Of Illicit Funds Tied To A 2018 Hack
- Ampleforth, Balancer Launch Rebasing “Smart Pool” to Prevent Impermenant Loss
- XRP Price Analysis: Huge Move Incoming As Ripple Consolidates
- DeFi Project Bluezelle Enters Polkadot Ecosystem
- Nearly 30,000 blockchain votes were recorded in Russian elections — the most ever
- Nasdaq-Listed Microstrategy Raises Bitcoin Holdings to $425 Million After Second Purchase
- Bitmain: the Company’s Business License Has Been Reclaimed
- The DAML connects BNP Paribas with major global stock exchanges
- Global Trading Club operators charged for duping $1 million from investors
- Gelato Network raises $1.2 million in seed funding from Galaxy Digital, IOSG Ventures and more
- Ampleforth and Balancer Create USDC-AMPL ‘Smart Pool’
- Galaxy Digital Leads $1.2M Raise for Startup Creating Automated Ethereum Services
- Bitcoin SV, Dash, Ethereum Classic Price Analysis: 15 September
- Web 3.0 would enable new possibilities and opportunities
- NASDAQ-Listed MicroStrategy Buys $175 Million More Worth Of Bitcoin
- State-by-state licensing for crypto and payments firms in the US just got much easier
- Is Cross-Chain Technology Future of Blockchain?
- Eastern Europe Actively Using Crypto for Illicit Purposes: Chainalysis
- Aave, Synthetix, Eight Others Join Huobi-Backed Global DeFi Alliance
- State bank regulators approve ‘comprehensive exam’ for payments, crypto firms seeking MSB approvals
- Tron legitimized a project before it pulled an exit scam, community says
- Bitcoin’s Active Address Count Nears ATH; Here’s What It Means
- XRP short-term Price Analysis: 15 September
- Bitcoin price charts hint $11K will likely cause trouble for BTC bulls
- Binance Sued by Crypto Exchange for Allegedly Facilitating Laundering of Stolen Bitcoin
- Russia’s Sberbank joins Komgo blockchain for commodity trade finance
- SNE Stock Down 1.5% as Sony Cuts PS5 Production Budget
- Massive Bitcoin Ad Campaign On Hong Kong’s Trams And Billboards Will Continue Until October
- India’s Bitcoin Revival May Be Short-Lived as Government Mulls New Ban
- $14 Million Sushi Buyback Crashes Price, ETH Sent to Bittrex
- Finally, Bitcoin’s FAD status is fading!
- Pantera: Bitcoin in Early Stages of Large Bull Market Fueled by Powerful Macro Tide – Here’s How High BTC Could Go This Cycle
- Security report finds Monero (XMR) leads in “cryptojacking” exploits
- Polkadot DeFi developers may soon get a new oracle provider with historic data
- Hong Kong’s Bitcoin advertisement campaign will last until October
- How Crypto Can Win Over Washington, DC
- Fight fire with fire: MIT scholar suggests ETC counters 51% attacks
- Blockchain Bites: MicroStrategy’s BTC Buy, Bitmain’s Power Struggle, Paxful’s Goodbye
- Bitcoin Gains on ETH as 17,000 Bought
- Wall Street Legend Jim Cramer, Now Owns Bitcoin (BTC)
- Dapper Labs–USDC Integration Helps NBA Collectibles Game Clear $2M in Revenue Since June
- Litecoin price moves past $50, what to expect?
- Bitcoin dominance falls, can DeFi help revive 2017 trend?
- Bitcoin News Roundup for Sept. 15, 2020
- MicroStrategy’s Bitcoin Reserve has been increased by $175 million
- Crypto Gaming Startup Pays SEC $6M Fine for ‘Illegal’ $31M ICO
- India Is Reportedly Planning to Ban Cryptocurrency Trading
- Why has Bitcoin inventor Satoshi Nakamoto remained anonymous?
- Bluzelle oracle to power Polkadot DeFi developers
- Mad Money’s Jim Cramer ‘Fixated’ on Buying Bitcoin, Fears Massive Inflation
- Polkadot indicator? Data shows Ethereum price follows it to the DOT
- Blockchain gaming project seeks to go mainstream with new Matic Network migration
- Is Bitcoin Heading for $12,000 Again?
- Ethereum long-term Price Analysis: 15 September
- USDC Stablecoin Comes to Flow as NBA Top Shot Nets $2 Million
- Bitcoin CEO: MicroStrategy’s Michael Saylor Explains His $425M Bet on BTC
- Pickle Finance Wants to Bring Stability to DeFi
- On-Chain Metrics Belie Bitcoin (BTC) Dips Below $10,000, Spotlight on Tron (TRX)
- Swep.io Exchange Launches with Unique In-Demand Products
- Bitcoin price tests $10800
- Binance.US launches regulation-compliant services in Georgia, USA
- Unikrn agrees to pay $6.1 million fine to SEC, disable its UKG token
- Blockchain gaming expands: Spencer Dinwiddie to launch Calaxy
- Klarna Becomes Europe’s Biggest Fintech Unicorn after Raising $650 Million
- Japanese Crypto Exchange Accuses Binance of Facilitating $9 Million Money Laundering
- Polkadot, Stellar Lumens, VeChain Price Analysis: 15 September
- $250.000.000 Yetmedi: Ünlü Firma Daha Çok Bitcoin (BTC) Alıyor
- Bitcoin (BTC) Yatırımcılarını Korkutan Gelişme: 2 Haftada 5 Milyar Dolar!
- Bitcoin Yorumları: BTC/USD Teknik Analizi 15/09/2020
- Litecoin Sonunda Yaşam Sinyali Verdi: LiteBringer Tanıtıldı
- Bitcoin (BTC) 10.700 Doları Gördü, İşlem Boyutu Değişti
- Binance’in DeFi Sektörüne Verdiği Önem Katlanarak Artıyor
- Bitcoin (BTC) Yine 6.000 Dolar Yolcusu Olabilir
- Bitcoin Bulls Target $11.5k After Sharp Price Bounce
- Bitcoin Whales Have Been Accumulating BTC This Year, on-Chain Data Suggests
- Crypto gambling firm Unikrn pays $6 million fine for illegal ICO
- Binance, Huobi, OKEx Have FOMO for DeFi
- Bitcoin price hitting $11,000 may hinder BTC bull activity
- Crypto Esports Startup Unikrn to Pay $6.1M in SEC Settlement Over 2017 ICO
- Bitcoin Still Undervalued Based on These On-Chain Indicators
- Brock Pierce Backed By NY Independence Party While Being Sued
- Bitcoin is an asymmetric bet and here’s why you should hodl it
- Deribit: Bitcoin Could Hit $36,000 By the End of the Year
- Oops: Who just spent $188,000 to send millions worth of Ethereum?
- After Initial $250,000,000 Bitcoin Investment, Tech Giant MicroStrategy Says It May Buy More BTC
- The Decade of the Living Dead: How Zombie Companies Are Robbing Tomorrow’s Economy
- Huge! MicroStrategy Acquires Over 16,000 Additional Bitcoins, Bringing Total Holdings To Almost Half A Billion Dollars
- 7.6B more ADAs were transferred to Binance with its price shedding 30%
- SEC Shuts Down Unikrn For Its $31M 2017 ICO, Commissioner Hester Peirce Dissents
- Ethereum price tests the $390 resistance, what to expect?
- ‘Gold is dangerous’: Why Jim Cramer will invest 1% of net worth in Bitcoin
- SEC commissioner Peirce dissents on Unikrn ICO action, says approach risks stifling innovation
- Gene Simmons Gives Bitcoin a Kiss
- Is Bitcoin Decentralized? Researchers Are ‘Cautiously Optimistic’
- Market Wrap: Bitcoin Hits $10.9K; Total BTC Locked in DeFi Passes 100K
- Tassat Regains CFTC No-Action Relief Ahead of Eventual Bitcoin Swaps Contract Listing
- Tassat will be able to launch Bitcoin swaps after all, says CFTC
- Forex Strapped Nigeria Designates Crypto Assets as Securities
- How a Hacker Launched a Decentralized Network to Track Internet Censorship
- Germany-based gaming company releases RPG on the Litecoin blockchain
- Chainlink, EOS, FTX Token Price Analysis: 15 September
- Discrete Log Contracts Are Bringing Private, ‘Scriptless’ Smart Contracts to Bitcoin
- Venezuelans are running out of crypto P2P trading options
- A brief architecture comparison of Layer 1 blockchains
- Litecoin blockchain-based game allows players to earn LTC
- The Logbook: The 1963 attempt to corner the soybean oil market
- Kiss front man Gene Simmons suggests he’s working to make crypto more accessible
- Bitcoin Price Analysis: BTC Runs into Major Resistance – $11K or $10K Retest Next?
- Analysis Reveals Massive Spike in 5,000 to 10,000 BTC Transactions – Are Whales and Institutions Bullish on Bitcoin?
- Cardano, IOTA, Algorand Price Analysis: 15 September
- MicroStrategy Is Planning to Buy a Whole Lot More Bitcoin
- Tether Uses Centralized Power to Refund $1 Million in USDT
- Mining difficulty to intensify immensely as Bitcoin’s hashrate hits new all-time high
- Crypto Market Trends: Bitcoin Support Level, Ethereum Gains, Altcoin Movement
- New bill to ban crypto in India threatens crypto unicorns
- Tezos to Power France’s CBDC Stablecoin Experiment
- YFMoonshot DeFi Project Launches Presale Event of 10k YFMS Tokens
- SEC Commissioner Peirce Dissents From Unikrn-Killing Fine, Says Action to Have Chilling Effect
- Bakkt’s bitcoin futures market surges after months of trailing rival CME
- After predicting a $2,000 drop, a top on-chain analyst is now bullish on Bitcoin
- Russian star transfers song rights on blockchain as major labels watch
- Record $113M BUSD stablecoin inflow shows Binance is serious about DeFi
- Presidential Candidate Brock Pierce Served With Lawsuit for Alleged ICO Fraud
- Technicals Show Tezos Ready to Break All-Time Highs
- Privacy coins ‘pose less risk of money laundering than other coins’
- ‘Sharing Economy’ Startup ShareRing Tapped for China’s Blockchain Service Network
- Regulatory risks grow for DeFi as a ‘money laundering haven’
- Aave Technical Analysis: LEND plummets 20% in 24 hours as altcoins bleed across the board
- Philippines SEC warns of ‘cloud mining’ Ponzi related to Bitcoin Vault
- Suspended ePayments platform will relaunch without crypto
- Yam Finance readies for less-disastrous relaunch
- Report: Market Valuation of 14 Banking Giants Shed $635 Billion This Year
- Chainlink Technical Analysis: LINK On The Cusp Of A Breakdown But Can $10 Support Hold?