{"id":394699,"date":"2019-08-30T22:00:36","date_gmt":"2019-08-30T22:00:36","guid":{"rendered":"https:\/\/wncen.com\/?p=394699"},"modified":"2024-06-11T13:24:56","modified_gmt":"2024-06-11T13:24:56","slug":"crypto-analyst-fireworks-ripple-xrp","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-analyst-fireworks-ripple-xrp\/","title":{"rendered":"Crypto Analyst Says XRP Fireworks Are Coming After Bounce From 2014 Support"},"content":{"rendered":"

Few crypto tokens or altcoins have been affected by the crypto bear market than XRP, also known as Ripple<\/a>. Even though Bitcoin<\/a> and many others have regained much of their lost all-time high value, XRP is still down over 93% from its $3.84 price record.<\/span><\/p>\n

Investors have grown increasingly bearish on XRP<\/a>, and many expect the asset to continue to fall into oblivion. however, one crypto analyst says that \u201cfireworks\u201d are \u201cincoming\u201d for XRP, as the asset\u2019s price hit historic support stemming all the way back to 2014.<\/span><\/p>\n

Fireworks Incoming If XRP Historic Support Holds<\/h2>\n

Altcoins are regularly valued in both USD and BTC. XRP is down by 93% from its all-time high in USD value and is now resting on support on the XRP\/BTC trading pair that dates all the way back to 2014 on crypto exchange Poloniex<\/a>, according to one crypto analyst.<\/span><\/p>\n

Related Reading | Crypto Analysts: Ripple Most Bullish USD Chart, XRP Target 2000% Gains<\/a><\/strong><\/em><\/p>\n

The analyst claims that support at this level will hold, the trader\u2019s sentiment has flipped bullish after long being bearish on the crypto asset, and expects that \u201cfireworks\u201d will occur in the coming days now that XRP<\/a> has hit that significant support level.<\/span><\/p>\n

XRP has held support at roughly 2500 satoshi \u2013 the lowest unit of measurement in BTC. The analyst expects a strong move up to 4000 sats, which would represent a 60% increase in value relative to Bitcoin.<\/span><\/p>\n

As bad as the outlook has been for XRP against its USD trading pair, bleeding out all throughout 2018, against the BTC ratio is where the real destruction has occurred in 2019. Bitcoin\u2019s parabolic rally sucked all the capital out of altcoins, causing BTC dominance to grow to levels not seen since before the last bull run.<\/span><\/p>\n

https:\/\/twitter.com\/pentoshiswallet\/status\/07851520?s=21<\/p>\n

Even the founders of altcoin projects admit that most tokens in the market lack utility<\/a>, however, XRP has real-world use cases and is already in use by many financial institutions. Ripple is among the few crypto assets to remain high up within the top ten cryptocurrencies by market cap since the list existed, while most other altcoins have not only struggled to maintain the positions, they\u2019ve often struggled to remain relevant at all.<\/span><\/p>\n

XRP\u2019s sell pressure has largely been driven by its own executive team, however, with that set to stop, and with retail investor sell pressure finally beginning to exhaust, the current support XRP is resting on very well could hold, and those fireworks could soon be for Ripple<\/a> bag holders to celebrate an eventual move to the upside.<\/span><\/p>\n

Related Reading | Crypto Analyst: Altcoin Annihilation Responsible for Bitcoin Breakdown\u00a0<\/a><\/strong><\/em><\/p>\n

If the support doesn\u2019t hold, though, another massive drop may be in the cards, and XRP<\/a> could reach lows not seen in over five years.<\/span><\/p>\n

Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"
Few crypto tokens or altcoins have been affected by the crypto bear market than XRP, also known as Ripple. Even though Bitcoin and many others have regained much of their lost all-time high value, XRP is still down over 93% from its $3.84 price record. Investors have grown increasingly bearish on XRP, and many expect the asset to continue to fall into oblivion. however, one crypto analyst says that \u201cfireworks\u201d are \u201cincoming\u201d for XRP, as the asset\u2019s price hit historic support stemming all the way back to 2014. Fireworks Incoming If XRP Historic Support Holds Altcoins are regularly valued in both USD and BTC. XRP is down by 93% from its all-time high in USD value and is now resting on support on the XRP\/BTC trading pair that dates all the way back to 2014 on crypto exchange Poloniex, according to one crypto analyst. Related Reading | Crypto Analysts: Ripple Most Bullish USD Chart, XRP Target 2000% Gains The analyst claims that support at this level will hold, the trader\u2019s sentiment has flipped bullish after long being bearish on the crypto asset, and expects that \u201cfireworks\u201d will occur in the coming days now that XRP has hit that significant support level. XRP has held support at roughly 2500 satoshi \u2013 the lowest unit of measurement in BTC. The analyst expects a strong move up to 4000 sats, which would represent a 60% increase in value relative to Bitcoin. As bad as the outlook has been for XRP against its USD trading pair, bleeding out all throughout 2018, against the BTC ratio is where the real destruction has occurred in 2019. Bitcoin\u2019s parabolic rally sucked all the capital out of altcoins, causing BTC dominance to grow to levels not seen since before the last bull run. https:\/\/twitter.com\/pentoshiswallet\/status\/07851520?s=21 Even the founders of altcoin projects admit that most tokens in the market lack utility, however, XRP has real-world use cases and is already in use by many financial institutions. Ripple is among the few crypto assets to remain high up within the top ten cryptocurrencies by market cap since the list existed, while most other altcoins have not only struggled to maintain the positions, they\u2019ve often struggled to remain relevant at all. XRP\u2019s sell pressure has largely been driven by its own executive team, however, with that set to stop, and with retail investor sell pressure finally beginning to exhaust, the current support XRP is resting on very well could hold, and those fireworks could soon be for Ripple bag holders to celebrate an eventual move to the upside. Related Reading | Crypto Analyst: Altcoin Annihilation Responsible for Bitcoin Breakdown\u00a0 If the support doesn\u2019t hold, though, another massive drop may be in the cards, and XRP could reach lows not seen in over five years. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":394715,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,16894],"tags":[428,6664,3680,4531,4532],"class_list":["post-394699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ripple","tag-bitcoin","tag-crypto","tag-ripple","tag-xrp","tag-xrp-btc"],"acf":[],"yoast_head":"\nCrypto Analyst Says XRP Fireworks Are Coming After Bounce From 2014 Support<\/title>\n<meta name=\"description\" content=\"A crypto analyst says that fireworks are incoming for XRP, the crypto asset commonly referred to as Ripple, if historic support holds.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst Says XRP Fireworks Are Coming After Bounce From 2014 Support","url":"http:\/\/wncen.com\/news\/crypto-analyst-fireworks-ripple-xrp\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/crypto-analyst-fireworks-ripple-xrp\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/xrp-ripple-crypto-shutterstock_776442571.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/xrp-ripple-crypto-shutterstock_776442571.jpg?fit=7408%2C4800"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","crypto","ripple","xrp","xrp btc"],"dateCreated":"2019-08-30T22:00:36Z","datePublished":"2019-08-30T22:00:36Z","dateModified":"2024-06-11T13:24:56Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst Says XRP Fireworks Are Coming After Bounce From 2014 Support\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-analyst-fireworks-ripple-xrp\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-analyst-fireworks-ripple-xrp\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/xrp-ripple-crypto-shutterstock_776442571.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/xrp-ripple-crypto-shutterstock_776442571.jpg?fit=7408%2C4800\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"crypto\",\"ripple\",\"xrp\",\"xrp btc\"],\"dateCreated\":\"2019-08-30T22:00:36Z\",\"datePublished\":\"2019-08-30T22:00:36Z\",\"dateModified\":\"2024-06-11T13:24:56Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/xrp-ripple-crypto-shutterstock_776442571.jpg?fit=7408%2C4800","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/394699"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=394699"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/394699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/394715"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=394699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=394699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=394699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}