XRP rises after Ripple selects BNY Mellon as custodian of firm's new stablecoin: CNBC Crypto World
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Yahoo
17 hours ago
- Yahoo
XRP traders go on a profit-taking spree as momentum loses heat
XRP traders go on a profit-taking spree as momentum loses heat originally appeared on TheStreet. XRP is trading at $3.20, has seen a 5.32% gain on the week, and has been mostly flat over the last 24 hours. However, the market cap of XRP has seen a 40.89% uptick in 24-hour trading volume showing increased market activity. The recent price action shows a distinct V-shaped recovery starting on August 8, breaking the previous long-term resistance to the upside clearly defined in our example, touching $3.30 before retreating slightly to a more steady price action, as per crypto analyst Tom Tucker. A significant driver of XRP's recent V-shaped recovery and breakout above critical resistance was the announcement that Ripple's long-running litigation battle with the SEC has finally ended. The resolution of the case, confirmed by SEC commissioners Hester Peirce and Chairman Paul Atkins, appears to have reignited bullish sentiment. On-chain analysis When looking at the XRP volatility chart, the 1-week volatility has remained relatively low, indicating that the market is indeed calmer in the short term. Looking at all timeframes, the 1-month, 3-month, and 6-month volatility readings are also average, meaning that we are seeing steadier-than-average price action, both in the short term and medium term. On-chain data shows XRP's latest surge past $3 has been accompanied by a spike in short-term holder activity, suggesting some long-term investors are taking profits after the SEC–Ripple settlement. Crypto analyst Ali Martinez also pointed out that about "900 million XRP scooped up by whales in 48 hours!"In addition, a large portion of XRP remains in older age bands (1–3 years), indicating that a significant number of long-term holders are holding on despite the wider volatility. That mixture usually depicts a stage where early profit-taking is met with new inflows. Technical analysis XRP has recovered from the mid-August move lower beyond $3, and XRP is trying to clear a key rejection area around $3.30. The 9-period EMA is positioned around the $3.22 level, which has become a short-term pivot and rejection area. Price attempts to clear this level have resulted in rejection. The volume has also increased during the initial bounce back, but has subsided since mid-August, suggesting a potential lack of bullish momentum.A clear break above the $3.30 opening may open the door for a potential move toward $3.50. If the $3.20 level is lost, the pullback risk against the $3.10 level will increase. XRP traders go on a profit-taking spree as momentum loses heat first appeared on TheStreet on Aug 11, 2025 This story was originally reported by TheStreet on Aug 11, 2025, where it first appeared.
CNBC
a day ago
- CNBC
Bitcoin rises above $120,000 ahead of key inflation data: CNBC Crypto World
On today's episode of CNBC Crypto World, bitcoin retakes the $120,000 level after an overnight rally, while ether jumps above $4,000 for the first time since December 2024. Plus, Chainlink partners with NYSE parent company Intercontinental Exchange to bring foreign exchange and precious metal pricing data onto the blockchain. And, Stephen Pair, co-founder and CEO of BitPay, discusses the trend of companies looking to accept crypto payments.
Yahoo
a day ago
- Yahoo
2 Reasons XRP Is the Highest-Upside Cryptocurrency to Buy Right Now
Key Points New spot ETFs could unlock new investor inflows into XRP, helping to push up its price. Institutional adoption of XRP is growing, powered by new use cases such as asset tokenization. While XRP has undeniable upside potential, investors should be aware of the hype and buzz around it. 10 stocks we like better than XRP › In the period from November 2024 to February 2025, crypto investors saw plenty of evidence of the remarkable upside potential of XRP (CRYPTO: XRP). In just three months, the price of XRP exploded, from $0.50 to $3.40. Admittedly, the price of XRP has traded back down to the $3 level since then. But there are two very good reasons why XRP might still have plenty of explosive upside potential ahead. Imminent arrival of spot XRP ETFs While XRP remains the third-largest cryptocurrency by market cap, it has never been a big favorite of institutional buyers. A good reason for that is that there has never been a convenient, efficient, and cost-effective way for them to get exposure to it. Buying XRP meant dipping their toes into the deep end of the crypto pool. That's the problem the new spot XRP ETFs (exchange-traded funds) are supposed to fix. Suddenly, it will be as easy to buy XRP as it is to buy any ETF. So investors are understandably anticipating the imminent arrival of the spot XRP ETFs later this year. The Securities and Exchange Commission (SEC) is reviewing the applications of a handful of investment firms, and will likely render a decision by mid-October. Right now, Bloomberg is giving these spot XRP ETFs an 85% chance of approval this year. Online prediction markets appear to agree, giving them a 78% chance of approval. There are just a few is to dot and ts to cross, but the new spot XRP ETFs should start trading by the end of the year. When they do, they could unleash a wave of new money into XRP. According to JPMorgan Chase (NYSE: JPM), as much as $8 billion in new money could flow into XRP. The conventional wisdom says that all of this new money will push XRP higher, much like the arrival of the spot Bitcoin ETFs in January 2024 helped to push Bitcoin higher last year. XRP is not the only altcoin rumored to be getting a spot ETF this year. Many have already suggested that 2025 will be the year of the altcoin ETF, and other potential prospects include Solana (CRYPTO: SOL) and Litecoin (CRYPTO: LTC). But market sentiment is not as bullish on these two altcoins, and I'm expecting XRP to be the star of the altcoin ETF show going forward. A new wave of institutional adoption It's important to keep in mind that XRP is both a cryptocurrency and a blockchain. The cryptocurrency is a key component of the Ripple payment network, helping to enable activities such as cross-border payments. Right now, there are a lot of exciting things going on behind the scenes with Ripple (the company that launched the XRP token), helping to push XRP higher over the next few months. For example, Ripple has been working on new real world asset (RWA) tokenization initiatives that will use the XRP blockchain. One of the best examples of this to date is Ripple's partnership with BlackRock (NYSE: BLK) that will tokenize U.S. Treasuries and put them on the XRP blockchain, where they can be easily traded. Ripple is also working on new stablecoin initiatives. In December 2024, Ripple launched a new stablecoin called Ripple USD (CRYPTO: RLUSD) that is designed to boost usage of the XRP crypto token. In August, Ripple USD hit a $600 million market cap and now ranks among the top 110 cryptocurrencies. All this points to a new wave of institutional adoption for XRP. Perhaps it's not as much as some people would like, but it's certainly on the upswing. In fact, earlier this year, Ripple CEO Brad Garlinghouse boldly suggested that one day, XRP could become the backbone of a payment system to rival SWIFT. Instead of running on legacy tech infrastructure that's over 50 years old, transactions would run on super-fast, super-efficient blockchain technology powered by XRP. Beware the XRP fakeout Of course, caveats abound when it comes to XRP. In many ways, XRP trades like a meme coin. Hype and speculation often run rampant in the XRP investment community. Case in point: There is still buzz that Ripple will be going public via an IPO soon, despite public statements from Ripple's top executives to the contrary. Of course, there are still regulatory issues swirling around XRP and Ripple. The long-running SEC court case against Ripple was supposed to wind up earlier this year, but the case is still not yet over. That's important, because all indications are that the SEC will not approve a spot XRP ETF until every last regulatory issue has been put to bed. So where do we go from here? According to Standard Chartered, XRP is going to hit $5.50 this year before soaring to a price of $12.50 by the end of 2028. That seems ultra-optimistic to me, but I can easily see XRP doubling by the end of next year. That makes it the highest-upside cryptocurrency you can buy right now. Should you buy stock in XRP right now? Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 4, 2025 JPMorgan Chase is an advertising partner of Motley Fool Money. Dominic Basulto has positions in Bitcoin, Solana, and XRP. The Motley Fool has positions in and recommends Bitcoin, JPMorgan Chase, Solana, and XRP. The Motley Fool recommends Standard Chartered Plc. The Motley Fool has a disclosure policy. 2 Reasons XRP Is the Highest-Upside Cryptocurrency to Buy Right Now was originally published by The Motley Fool Sign in to access your portfolio
