Latest news with #XRPArmy
Yahoo
a day ago
- Business
- Yahoo
Moon or Doom: Where Does XRP Price Go Next?
The XRP Army has drawn the line: the $3 price mark is now their battlefield. But, at the moment, traders can't seem to decide if XRP is headed to the moon or back down towards doom. After hot inflation data dampened jumbo rate cut hopes earlier this week, XRP dropped 6.4%—right down to that pivotal $3.00 mark that could define the crypto asset's next major move. On Myriad, a prediction market created by Decrypt's parent company Dastan, traders remain slightly bullish despite the correction. Myriad users give XRP a 63.7% chance of reaching $4 or higher (the moon scenario) versus 36.3% odds of crashing back down to $2 or below (doom). So who's right? XRP price: The technical puzzle XRP, the cryptocurrency created by the founders of payments company Ripple, presents a technical puzzle that explains why traders are currently so divided. For reference, even at just $3, XRP commands a market capitalization of $181 billion, good for third-largest behind only Bitcoin and Ethereum. And it's coming off a very recent all-time high of $3.65, which the coin hit less than a month ago. So where is it going next? For starters, the distance from its current price (the white line in the chart below) to the moon (the green line) and its distance towards doom (the red line) is basically the same: 33.33%. So, odds based on the percentage leap required to hit either scenario is not really a factor right now. It's going to require a little further digging. One classic indicator for traders is the Relative Strength Index, or RSI. For XRP, this sits right at 48, just shy of the neutral 50 mark. RSI measures momentum on a scale of 0-100, where readings above 70 signal overbought conditions (time to sell) and below 30 indicate oversold (time to buy). At 48, we're in no-man's land—slightly bearish but not enough to panic. This is what traders call the "decision zone," where markets pick their next direction. Going off RSI, under current conditions, market forces are in equilibrium. However, the overall trend is bullish, so this would signal to traders that prices are more likely to maintain momentum and speed unless something else affects the trend. The Average Directional Index, or ADX, at 28 tells a more decisive story. ADX measures trend strength regardless of direction. Think of it as a speedometer that doesn't care if you're going forwards or backwards. Readings above 25 confirm a strong trend exists, and at 28, XRP is definitely trending. This signals to traders that XRP's upward movement is likely to continue, even if slowly. And, of course, the more the price goes up, the less likely a $2 'doom' scenario becomes. Another key indicator is the exponential moving average, which measures the average price of an asset over a certain amount of time. For XRP, the 50-day EMA sits comfortably above the 200-day EMA, creating what traders call a "bullish stack." This means the average price of XRP in the short-term is trading above the average price over the long-term, and that typically means buyers will keep stepping in at higher prices. It's a vote of confidence in the uptrend. This setup usually favors continuation higher unless something breaks. For XRP to correct down to the 'doom' zone, it would need to switch momentum entirely and, likely, enter a death cross formation. The only indicator that is not bullish for XRP right now seems to be the Squeeze Momentum Indicator, which shows a price consolidation zone as the Ripple-linked token struggles to break past its recent all-time high. Think of it as the market taking a deep breath before the next sprint. Prices can experience a stronger trend either up or down, depending on catalysts. That 'squeeze' zone is considered a price compression because there are a large number of orders fighting to determine the trend. If short-term traders exit those positions in search for other markets, then there could be a fast dip in the same zone as it could trigger many 'stop-loss' zones. On the other hand, if there is a short squeeze, or bulls take control, it could trigger a spike based on buy orders activated too close to each other. But technicals only tell half the story. The 30-day moving average for XRP whale inflows to exchanges jumped to 260 million tokens from 141 million tokens at July's start, with large holders offloading nearly $6 billion worth since mid-July. That's a serious distribution that historically precedes corrections, because the most logical reason to send an asset to an exchange is to sell it. Meanwhile, the SEC and Ripple finally ended their legal battle, removing a major overhang. Add an 88% chance of spot XRP ETF approval by December according to Polymarket and nearly 60% preference over a Litecoin ETF on Myriad Markets, and you've got catalysts that could send XRP either direction—violently. XRP bulls have the edge Weighing all of the data, it's clear the charts today slightly favor the XRP moon scenario. The combination of price respecting an upward channel, maintaining position above both key EMAs, and the Squeeze ready to fire would convince traders of a compelling bullish setup. The ADX confirming trend strength while RSI sits neutral gives XRP room to run without being overextended. Considering indicators show traders in equilibrium during a bullish move (instead of showing such behavior when the coin is trading sideways), the ascending channel and compressed volatility suggest XRP could test $3.30 within days. A clean break above would likely trigger momentum toward $4. But those massive whale sales keep the doom scenario very much alive. If the $2.80 support cracks, all bullish bets are off. This is crypto—and when things break, they break hard. The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Int'l Business Times
07-05-2025
- Business
- Int'l Business Times
Bitcoin, $XRP, Other Altcoins Pump On Trump's Upcoming 'Big Announcement' Before Middle East Trip
Trump said the news will be one of the biggest announcements yet in many years 'about a certain subject' Some $XRP users were quick to speculate that his announcement may be 'bullish for crypto' Other crypto users don't think the news will be related to $XRP or crypto at all Grok suggested it could be related to the Abraham Accords or a hostage exchange deal in Gaza Crypto prices pumped after Trump's comments, including $BTC, $XRP, and $ADA The cryptocurrency market climbed over the weekend after U.S. President Donald Trump hinted at huge news before he leaves for the Middle East, with Bitcoin and other major altcoins leading the rally. Trump didn't provide details about the news, but some crypto users are already expecting that it may have a positive impact on the industry. Trump Teases Huge Announcement President Trump, who has seen increasing criticism over his handling of the economy, specifically his global tariffs, on Sunday said his administration will deliver a "very, very big announcement," and it will be "as big as it gets." Trump told reporters that the big news to come ahead of his visit to the United Arab Emirates and Qatar will be "very positive." 🚨 @POTUS says he will have a "very, very big announcement to make" before he departs for the Middle East: "It'll be one of the most important announcements that has been made in many years about a certain subject." — Rapid Response 47 (@RapidResponse47) May 6, 2025 "It'll be one of the most important announcements that has been made in many years about a certain subject," he added. $XRP Users Excited for Upcoming News Despite a lack of details from the Trump administration regarding what the big news will be, many crypto users, especially XRP holders, were ecstatic. Jack the Rippler, a prominent figure in the XRP Army, said it's possible Trump's upcoming announcement "could be bullish for crypto." One user said he "wouldn't be shocked if $XRP's on the radar" regarding the upcoming announcement, given how the Republican president has been "warming up to crypto heavy lately." Man's been warming up to crypto heavy lately… wouldn't be shocked if $XRP's on the radar. — X Finance Bull (@Xfinancebull) May 6, 2025 Other XRP holders had similar posts, but some are quite sure the announcement won't be related to cryptocurrency at all. Please let's not everyone start turning this into crypto hype again. Every time he says something or hints at an announcement everyone assumes it has something to do wit crypto. 98% chance it has nothing to do with digital assets. Let's just wait and see though. — GrimmReaper (@jgrimm5) May 6, 2025 Despite divided opinions over Trump's upcoming news, crypto prices still reacted positively, led by the king of all cryptocurrency, Bitcoin. $BTC, $XRP, Altcoins Pump in Anticipation CoinGecko data showed that Bitcoin was up over 3% in the day and was trading at around $97,200 from trading as low as $94,500 earlier in the day. Ethereum and XRP were also up in the day, both representing a nearly 2% surge following Trump's comments. Cardano (ADA) saw the biggest jump, with a 3.8% spike in the last 24 hours. Solana (SOL) and BNB were also pumping, with 2.5% and 1.1% price increases, respectively. Crypto prices late May 6, 2025 CoinGecko Grok Suggests News Won't Involve Crypto Meanwhile, X users are speculating on what the news will be, and Grok, Elon Musk-owned xAI's AI chatbot, is being asked all over the social platform what he thinks the announcement will be – unfortunately, it's not really big news for crypto users. According to the popular AI assistant, the news will possibly be related to Middle East-related issues, at least based on recent developments. The AI bot said it could potentially be a hostage exchange deal in the Gaza war, a development around global policies on Iran, or "expanding the Abraham Accords," a series of agreements around the diplomatic relations between Israel and some Arab jurisdictions. Trump will visit the UAE and Qatar early next week.
