{"id":548342,"date":"2023-08-22T10:20:39","date_gmt":"2023-08-22T10:20:39","guid":{"rendered":"https:\/\/wncen.com\/?p=548342"},"modified":"2024-06-11T10:08:04","modified_gmt":"2024-06-11T10:08:04","slug":"xrp-about-face-sparks-another-descent-what-lies-ahead","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/xrp-about-face-sparks-another-descent-what-lies-ahead\/","title":{"rendered":"XRP About-Face Sparks Another Descent – What Lies Ahead?"},"content":{"rendered":"

XRP, the cryptocurrency known for its ties to Ripple, has recently faced a bout of volatility in the market.<\/span><\/p>\n

The coin’s value, currently hovering around $0.517 according to <\/span>CoinGecko<\/span><\/a>, experienced a 1.0% decline in the past 24 hours alone. Over the span of a week, XRP witnessed a significant 17.4% slump, reflecting the ongoing volatility that has come to characterize the cryptocurrency market.<\/span><\/p>\n

Despite its potential, XRP’s journey to break through the 200 Exponential Moving Average (EMA), a significant technical indicator, has hit a roadblock, casting doubts on its short-term performance.<\/span><\/p>\n

\"\"<\/p>\n

XRP price action today. Source: Coingecko<\/a><\/pre>\n
Related Reading: Polygon (MATIC) At June Lows Again \u2013 Prospects For Bullish Recovery?<\/a><\/div>\n
Understanding XRP\u2019s 200 EMA And Its Impact<\/strong><\/h2>\n
The 200 EMA is a widely followed technical indicator that helps traders and analysts gauge the overall trend of a cryptocurrency’s price. It calculates the average price of an asset over a specific time period, giving more weight to recent data points.\u00a0<\/span><\/p>\n
Breaking through the 200 EMA is often seen as a bullish sign, suggesting that the cryptocurrency’s price is gaining momentum and may experience upward movement. <\/span><\/p>\n
However, <\/span>XRP’s recent struggle<\/span><\/a> to surpass this threshold highlights the challenges it faces in regaining solid footing in the market.<\/span><\/p>\n
Market observers suggest that the failure to breach the 200 EMA could be attributed to the broader market sentiment, regulatory concerns, and the ongoing lawsuit between the US Securities and Exchange Commission and Ripple.<\/span><\/p>\n
<\/p>\n
XRP market cap at $27 billion today. Chart: TradingView.com<\/a><\/pre>\n
XRP: Weekend Recovery And Regulatory Complexities<\/strong><\/h2>\n
Over the weekend, <\/span>XRP exhibited signs of recovery<\/span><\/a>, momentarily soothing investor jitters. Notably, this recovery came in the absence of any new regulatory filings from both the SEC and Ripple regarding their ongoing lawsuit. <\/span><\/p>\n
The lawsuit has played a crucial role in shaping XRP’s price trajectory, causing significant fluctuations based on legal developments.<\/span><\/p>\n
In the initial stages of the SEC-Ripple lawsuit, the SEC categorized XRP as a “digital asset security,” raising concerns about its regulatory status and potential impact on the broader cryptocurrency landscape.<\/span><\/p>\n
\"\"<\/p>\n
XRP seven-day price action. Source: CoinMarketCap<\/a><\/pre>\n
However, the regulatory body has since shifted its stance, asserting that digital assets lack inherent value and are merely strings of computer code. <\/span><\/p>\n
This evolving perspective has introduced a layer of complexity to XRP’s regulatory outlook, influencing both investor sentiment and price dynamics.<\/span><\/p>\n
As the XRP market navigates through these regulatory intricacies and attempts to find stable ground, analysts and traders are keeping a close eye on both technical indicators and legal developments. <\/span><\/p>\n
The dynamics between these factors will likely continue to shape XRP’s trajectory in the coming weeks, with the cryptocurrency community closely watching whether it can overcome the hurdles posed by the 200 EMA and regulatory challenges.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from Forbes Advisor<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
XRP, the cryptocurrency known for its ties to Ripple, has recently faced a bout of volatility in the market. The coin’s value, currently hovering around $0.517 according to CoinGecko, experienced a 1.0% decline in the past 24 hours alone. Over the span of a week, XRP witnessed a significant 17.4% slump, reflecting the ongoing volatility that has come to characterize the cryptocurrency market. Despite its potential, XRP’s journey to break through the 200 Exponential Moving Average (EMA), a significant technical indicator, has hit a roadblock, casting doubts on its short-term performance. XRP price action today. Source: Coingecko Related Reading: Polygon (MATIC) At June Lows Again \u2013 Prospects For Bullish Recovery? Understanding XRP\u2019s 200 EMA And Its Impact The 200 EMA is a widely followed technical indicator that helps traders and analysts gauge the overall trend of a cryptocurrency’s price. It calculates the average price of an asset over a specific time period, giving more weight to recent data points.\u00a0 Breaking through the 200 EMA is often seen as a bullish sign, suggesting that the cryptocurrency’s price is gaining momentum and may experience upward movement. However, XRP’s recent struggle to surpass this threshold highlights the challenges it faces in regaining solid footing in the market. Market observers suggest that the failure to breach the 200 EMA could be attributed to the broader market sentiment, regulatory concerns, and the ongoing lawsuit between the US Securities and Exchange Commission and Ripple. XRP market cap at $27 billion today. Chart: TradingView.com XRP: Weekend Recovery And Regulatory Complexities Over the weekend, XRP exhibited signs of recovery, momentarily soothing investor jitters. Notably, this recovery came in the absence of any new regulatory filings from both the SEC and Ripple regarding their ongoing lawsuit. The lawsuit has played a crucial role in shaping XRP’s price trajectory, causing significant fluctuations based on legal developments. In the initial stages of the SEC-Ripple lawsuit, the SEC categorized XRP as a “digital asset security,” raising concerns about its regulatory status and potential impact on the broader cryptocurrency landscape. XRP seven-day price action. Source: CoinMarketCap However, the regulatory body has since shifted its stance, asserting that digital assets lack inherent value and are merely strings of computer code. This evolving perspective has introduced a layer of complexity to XRP’s regulatory outlook, influencing both investor sentiment and price dynamics. As the XRP market navigates through these regulatory intricacies and attempts to find stable ground, analysts and traders are keeping a close eye on both technical indicators and legal developments. The dynamics between these factors will likely continue to shape XRP’s trajectory in the coming weeks, with the cryptocurrency community closely watching whether it can overcome the hurdles posed by the 200 EMA and regulatory challenges. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Forbes Advisor<\/p>\n","protected":false},"author":557,"featured_media":548353,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,3],"tags":[142,1144,8686,4735,85514,4531],"class_list":["post-548342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","category-news","tag-altcoins","tag-btcusd","tag-ethusd","tag-price-action","tag-ripple-vs-sec","tag-xrp"],"acf":[],"yoast_head":"\nXRP About-Face Sparks Another Descent - What Lies Ahead?<\/title>\n<meta name=\"description\" content=\"XRP, the cryptocurrency known for its ties to Ripple, has recently faced a bout of volatility in the market. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP About-Face Sparks Another Descent – What Lies Ahead?","url":"http:\/\/wncen.com\/news\/xrp-about-face-sparks-another-descent-what-lies-ahead\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/xrp-about-face-sparks-another-descent-what-lies-ahead\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/a-128.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/a-128.png?fit=764%2C424"},"articleSection":"All","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","btcusd","ethusd","price action","ripple vs sec","xrp"],"dateCreated":"2023-08-22T10:20:39Z","datePublished":"2023-08-22T10:20:39Z","dateModified":"2024-06-11T10:08:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP About-Face Sparks Another Descent – What Lies Ahead?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-about-face-sparks-another-descent-what-lies-ahead\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-about-face-sparks-another-descent-what-lies-ahead\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/a-128.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/a-128.png?fit=764%2C424\"},\"articleSection\":\"All\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"btcusd\",\"ethusd\",\"price action\",\"ripple vs sec\",\"xrp\"],\"dateCreated\":\"2023-08-22T10:20:39Z\",\"datePublished\":\"2023-08-22T10:20:39Z\",\"dateModified\":\"2024-06-11T10:08:04Z\"}<\/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\/2023\/08\/a-128.png?fit=764%2C424","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/548342"}],"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\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=548342"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/548342\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/548353"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=548342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=548342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=548342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}