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  • Trump Directs Fed to Examine Crypto Firms’ Master Account Access

    Trump Directs Fed to Examine Crypto Firms’ Master Account Access

    U.S. President Donald J. Trump signed an executive order on Tuesday directing federal financial regulators to streamline regulations within 90 days, potentially opening Federal Reserve payment systems to digital asset companies.

    Regulatory Review Mandate

    The order mandates that the Federal Reserve, Consumer Financial Protection Bureau, Securities and Exchange Commission, Commodity Futures Trading Commission, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and National Credit Union Administration complete their regulatory reviews by mid-August.

    The Federal Reserve faces the most specific directive: to submit a report within 120 days evaluating its legal authority to extend direct access to Federal Reserve payment accounts for non-bank financial companies, including digital asset firms. If existing law permits such access, the Fed must establish transparent application procedures and render decisions within 90 days of receiving complete applications.

    “The Federal Government must update regulations to allow integration of digital assets and innovative technology into traditional financial services and payment systems,” Trump stated in the order. The directive also calls for removing “overly burdensome and fragmented regulations and supervisory practices that form barriers to entry and primarily benefit incumbent financial services firms.”

    Industry Response

    Ari Redbord, Global Head of Policy and Government Affairs at blockchain analytics firm TRM Labs, called the order a “concrete step” toward positioning the U.S. at the forefront of digital asset adoption. He framed digital asset dominance as an “American strategic interest,” citing the sector’s rapid growth, which has seen stablecoins achieve a transaction volume of $33 trillion in 2025 and a market capitalization exceeding $300 billion.

    Existing Access and Applications

    The Federal Reserve has already begun granting limited access to crypto firms, with the Kansas City Fed approving a “limited purpose account” for Payward, the parent company of crypto exchange Kraken, in March 2026.

    This move followed the Fed’s board of governors’ discussion last year of “skinny” master accounts designed to enable access for select firms, representing a shift from the central bank’s historically restrictive stance toward digital asset companies seeking direct payment system access.

    To date, crypto companies including Coinbase, Circle, Ripple, Paxos, the Stripe-owned Bridge, and Crypto.com have received conditional approval for national trust bank charters from the Office of the Comptroller of the Currency. This approval allows them to offer some bank-like services, including federally regulated digital asset custody, staking, and trade settlement. In a letter to the OCC, Senator Elizabeth Warren (D-MA) argued that the approvals violated the National Bank Act and pose “serious risks” to the safety of the U.S. banking system.

    Trump-linked DeFi firm World Liberty Financial also has a pending application, which Warren has urged Comptroller of the Currency Jonathan Gould to either reject or review, describing it as being “at the center of perhaps the most disgraceful Presidential corruption scandal in U.S. history.”

  • XRP Price Stagnates; CNBC Ranks Ripple Higher Than Revolut

    XRP Price Stagnates; CNBC Ranks Ripple Higher Than Revolut

    CNBC has ranked Ripple as the 16th most disruptive company globally, surpassing Revolut, Perplexity, Kalshi, Polymarket, and Canva. However, the price of its associated token, XRP, has declined from its peak earlier in the year.

    CNBC’s Disruptor 50 List

    CNBC’s updated Disruptor 50 list for 2026 identifies Ripple as the only cryptocurrency or blockchain firm to be included, categorizing it as “new money.” The company has risen significantly, moving from 38th place in 2021 to its current position, outperforming both fintech and deep-tech companies.

    Market Sentiment and XRP’s Performance

    Following the announcement, Santiment Intelligence highlighted XRP’s “long-term role in cross-border payments versus replacement by stablecoins or alternative rails” as the primary driver of social volume.

    The total implied valuation of the 50 Disruptor companies reached $2.4 trillion, a substantial increase from $798 billion the previous year, reflecting the current investment in disruptive infrastructure projects.

    Currently, XRP is supported in the $1.30–$1.35 range, where recent lows have been maintained across major aggregators. Resistance levels are around $1.40-$1.42, a level that has consistently capped upward movement. The price structure suggests consolidation within a multi-week range until XRP closes and sustains above $1.50 with significant trading volume.

    XRP ETF and Future Projections

    Despite significant outflows from Bitcoin and Ethereum, the XRP spot ETF has shown positive flows. Community projects anticipate XRP reaching $5 by late 2025, driven by increasing institutional investment. This target exceeds XRP’s all-time high of $3.84.

    XRP investors are hoping for continued positive ETF flows, and a price break above $1.50 with volume could target the $2.50–$3.00 range. Alternatively, consolidation could persist between $1.35 and $1.45 as the market awaits macroeconomic developments.

    XRP’s performance hinges on maintaining its current support levels; a drop below $1.30 could lead to a retest of sub-$1.00 levels. The Clarity Act remains a potential factor that could accelerate either scenario.

    Market Dynamics and Investment Considerations

    While XRP’s CNBC ranking validates its cross-chain payments thesis, the current spot price and substantial market capitalization have narrowed the potential for significant gains. For traders observing XRP’s resistance levels amidst growing institutional interest, the trade-off is between established recognition and early-stage investment opportunities.

    LiquidChain: A Layer 3 Infrastructure Project

    LiquidChain ($LIQUID) is a Layer 3 infrastructure project focused on building a cross-chain liquidity layer. Liquid is developing a single execution environment that integrates liquidity from Bitcoin, Ethereum, and Solana simultaneously.

    This architecture aims to eliminate the multi-step bridging issues that fragment DeFi capital across different ecosystems, a problem that XRP’s payment rails have yet to solve at the smart contract level. With Liquid, developers can deploy once and access all three ecosystems.

    The presale is currently live at $0.01461 per $LIQUID, with $780,000 raised to date, and offers a 1400% APY staking bonus for early investors.

  • XRP Gains Native DeFi Access with Flare Wallet Integration

    XRP Gains Native DeFi Access with Flare Wallet Integration

    Flare Network Integrates XRP Support

    Flare Network has completed a significant infrastructure milestone by integrating native XRP support directly into its wallet architecture. This integration allows XRP holders to access a full suite of decentralized finance (DeFi) applications, including lending, borrowing, liquidity provision, and yield farming, without relying on centralized custodians or permissioned bridges.

    The mechanism enabling this functionality is Flare’s FAssets protocol, which utilizes the network’s State Connector to verify transactions on the XRP Ledger. This allows XRP to be minted as FXRP on Flare in a trustless, overcollateralized format.

    Flare Smart Accounts are now live in D’CENT wallets. The process involves two signatures on XRPL, followed by FXRP minting, and then access to the Monarq XRP Yield Vault. A $55,000 campaign reward pool is available for D’CENT users and early depositors.

    Addressing XRP’s Utility Gap

    This development directly addresses a long-standing utility gap for XRP, a token with significant liquidity and institutional reach that has historically been excluded from the smart-contract DeFi ecosystem.

    On-chain data indicates a 20% increase in Flare’s Total Value Locked (TVL) following the integration announcement, with large wallets holding more than 10 million XRP as the primary drivers.

    The key question is whether this initial inflow represents a sustained capital migration or opportunistic positioning in anticipation of future developments.

    The Risk-Reward Trade-Off

    XRP holders who move their assets from the XRP Ledger onto Flare accept smart-contract risk and bridging complexity in exchange for yield exposure that the native ledger currently cannot provide. The market is now assessing whether the yield rates justify this trade-off and if crypto liquidity will deepen quickly enough to sustain the ecosystem.

    How the System Works

    Flare’s State Connector protocol monitors the XRP Ledger for confirmed transactions and relays cryptographic proof of those transactions to Flare’s EVM-compatible execution layer.

    When an XRP holder initiates a mint, agents on the Flare side provide overcollateralized backing, denominated in FLR, and FXRP is issued on a 1:1 basis against the locked XRP. Agents earn minting and redemption fees, and the overcollateral provides a liquidation buffer if FLR prices decline.

    This structure, as outlined in Flare’s introduction to XRP DeFi, distinguishes FXRP from custodial wrapped-token approaches. There is no single bridge operator to compromise, and the collateral backstop is enforced by Flare’s proof-of-stake consensus, where 98% of the stake is community-held and no single data provider can exceed 3.3% of the total stake.

    The network achieves an average block time of 1.2 seconds with single-slot finality, which is crucial for DeFi protocols where price feeds and liquidation triggers operate in near-real time.

    FXRP’s DeFi Applications

    Once minted, FXRP becomes a composable DeFi asset. Holders can deploy it across lending protocols, supply it to automated market maker pools on SparkDex (Flare’s native DEX), or route it into yield optimizers developed under Flare’s developer incentive program.

    The Firelight protocol, currently being rolled out, further expands this functionality by introducing Economically Secured Services. FXRP stakers underwrite security for third-party applications and earn a share of the fees those applications generate.

    Liquid staking tokens issued through Firelight act as receipts that can be redeployed in additional XRP DeFi strategies, creating compounding yield loops without sacrificing the base staking position.

    Structural Shift in DeFi

    What was previously impossible for XRP holders—accessing a full-stack DeFi environment with native collateral, decentralized price feeds via Flare’s FTSO, and programmable yield—is now accessible through a single wallet integration. This structural shift is reflected in the TVL data.

    XRP Market Performance

    XRP is currently trading near $1.36, consolidating after a sharp rally following the passage of the Clarity Act through the Senate Banking Committee. The token has maintained its position above the $1.30 support level for 11 consecutive sessions, a level the market views as a near-term structural floor.

  • Zcash Surges 88% in a Month: Is It the Cycle’s Hidden Gem?

    Zcash Surges 88% in a Month: Is It the Cycle’s Hidden Gem?

    Hayes’s Bullish Outlook on Zcash

    BitMEX co-founder Arthur Hayes has suggested that Zcash (ZEC) could eventually capture 10% of Bitcoin’s market capitalization, signaling a long-term bullish view on privacy coins rather than a short-term price prediction. Given ZEC’s circulating supply of approximately 16 million tokens, this scenario would imply a price in the high four-figure range, roughly $8,000–$10,000, depending on Bitcoin’s valuation.

    Technical Analysis and Price Targets

    From a technical perspective, traders are observing a potential cup-and-handle pattern, although this is a subjective chart formation with no guaranteed outcome. Resistance levels are often cited around $625–$650, with some speculative projections suggesting a move towards $1,000. However, this depends heavily on broader market conditions and is not a confirmed target. This target also aligns with ZEC’s 1.618 Fibonacci extension, calculated from a $745 swing high down to a $185 swing low.

    Privacy Coins Outperform

    ZEC is not alone in its gains. Monero and Dash, both privacy-focused tokens, have also seen positive movement over the past month. However, Zcash leads the pack. Reports indicate the coin climbed more than 80% in 30 days while the total crypto market cap barely moved, increasing just 0.2% over the same period.

    In the past three days alone, ZEC added 18% while the broader market declined by 3%. This divergence has led some traders to suggest that Zcash is experiencing its own bull market.

    Growing demand for financial privacy appears to be the primary driver behind this surge, attracting renewed interest in a coin that had been largely overlooked for years.

    Institutional Interest and Market Sentiment

    Earlier in May, hedge fund Multicoin Capital disclosed its ZEC holdings. Around the same time, Robinhood added the token to its platform, expanding its accessibility to a wider retail investor base. These developments coincided with a growing narrative around privacy coins. Hayes’s comments further amplified this trend. His estimate, based on a market cap comparison to Bitcoin, drew attention, and data indicates that ZEC’s value in Bitcoin terms has risen approximately 20.5% since his remarks.

    Regardless of whether the cup-and-handle pattern materializes, Zcash has demonstrated its ability to perform independently.

  • Algorand Launches on Robinhood, Expanding Retail Access

    Algorand Launches on Robinhood, Expanding Retail Access

    Algorand (ALGO) is now fully tradable on Robinhood for U.S. retail users, ending a multi-year restriction stemming from the Securities and Exchange Commission’s (SEC) 2023 enforcement actions.

    Regulatory Overhang Lifted

    The listing reopens a domestic retail avenue for one of the tokens most affected by the SEC’s campaign to classify crypto assets as unregistered securities. The regulatory uncertainty was explicit. In June 2023, the SEC’s complaint against Coinbase specifically identified ALGO as an unregistered security, citing Algorand’s early token sales and promotional activities as evidence of an investment contract.

    Robinhood’s U.S. app had previously shifted ALGO to a view-only status, displaying price data but blocking trades. Robinhood Europe, operating under EU regulations where ALGO is treated as a standard crypto asset, continued to offer full ALGO spot trading during this period. This disparity between the company’s U.S. and European offerings highlighted the significant impact of regulatory jurisdiction on retail access.

    Shifting Regulatory Landscape

    The recent move by Robinhood indicates a reassessment of internal legal risk. The platform’s decision to support ALGO under its existing New York State Department of Financial Services license reflects its current view of the token’s regulatory risk profile.

    The broader regulatory environment has evolved since 2023. The SEC has moved away from its enforcement-focused approach that led to the ALGO security classification, and the CLARITY Act’s progress in the Senate suggests that legislative frameworks are emerging to replace the previous guidance-by-lawsuit approach.

    Robinhood’s action aligns with this trend, listing an asset that remains in a legal gray area but where the practical enforcement risk has decreased sufficiently to meet internal compliance standards.

    Strategic Alignment

    Robinhood’s acquisition of Bitstamp further supports this move. Bitstamp, now branded “Bitstamp by Robinhood,” has offered active ALGO/USD markets for years, meaning the necessary infrastructure and liquidity were already in place before the U.S. retail launch.

    This was as much an alignment exercise as a new listing. Community discussions on r/Algorand have characterized the development as a “validation” step, with the consensus being that re-establishing a presence on major U.S. retail brokerages is crucial for ALGO to regain significant domestic retail trading volume.

  • XRP Metrics Indicate Bullish Turn After Sell-Off

    XRP Metrics Indicate Bullish Turn After Sell-Off

    XRP Exchange Flows Show Shifting Patterns

    XRP exchange-flow activity is exhibiting a new pattern following weeks of consistent deposit pressure primarily on Bybit, according to a recent analysis by CryptoQuant.

    Bybit’s Shift

    Data from the XRP Multi-Exchange Daily Depositing/Withdrawing Transactions Delta indicates that Bybit’s transaction delta returned to near-neutral around May 16, ending a period of strong positive readings that had persisted from mid-April to mid-May.

    Consistent deposit-side activity is often interpreted as a potential sign of selling pressure, as assets transferred to exchanges are generally more accessible for trading or liquidation. This suggests that the pressure has now diminished, based on transaction count data.

    Binance and Coinbase See Withdrawals

    While Bybit’s earlier deposit imbalance appears to have subsided, Binance and Coinbase are now displaying the opposite trend, with withdrawal transactions surpassing deposits on both exchanges. This represents a significant change from the previous exchange-flow structure, which was dominated by Bybit deposits.

    The market dynamics for XRP have therefore shifted, as the broader exchange-deposit activity seen over the past month is no longer prevalent. Instead, exchange behavior now indicates a rotation in flows, with Bybit cooling off while Binance and Coinbase experience increased withdrawal-side activity.

    CryptoQuant noted that the metric tracks transaction delta rather than the total amount of XRP being transferred, meaning it does not reveal the exact volume of tokens entering or leaving exchanges. Nevertheless, the directional change is significant, highlighting a clear shift in transaction behavior across several major trading platforms.

    Technical Indicators Suggest Volatility

    Alongside the changing exchange activity, technical indicators are beginning to suggest a possible increase in XRP volatility.

    Crypto analyst Ali Martinez recently observed that XRP’s Bollinger Bands on the 3-day chart have tightened to their narrowest level in over a year, potentially signaling a major price movement ahead. The crypto asset has been trading between $1.29 and $1.50 for months. Martinez stated that a close above $1.50 could push XRP toward $1.80, while a drop below $1.29 may trigger deeper downside pressure.

    Institutional Inflows

    On the institutional side, XRP appears to have defied market panic. As reported by CryptoPotato, even as investment products dedicated to Bitcoin and Ethereum faced significant sell pressure, XRP managed to attract inflows of over $67 million last week.

  • Bitcoin Rally Fueled by Short Squeeze, $70,000s Possible.

    Bitcoin Rally Fueled by Short Squeeze, $70,000s Possible.

    Bitcoin’s Rally Fails Macro Test, Says Wintermute

    Wintermute has stated that Bitcoin’s recent rally has failed its first major macroeconomic test, arguing that the price increase was driven more by leverage and short covering than by sustained spot demand. In its May 18 market update, the trading firm attributed the sharp reversal across digital assets to factors including persistent inflation, rising Treasury yields, ETF outflows, and renewed expectations of interest rate hikes.

    “Last week we said we’d find out fast what kind of rally this was. We found out,” Wintermute wrote. “BTC failed at the 200-day on the first real macro shock, which tells you it was the squeeze driving it all along.” The firm’s analysis framed the week as a macro-driven repricing of assets.

    April’s Consumer Price Index (CPI) came in at 3.8% year-over-year, exceeding the 3.7% consensus estimate, while core CPI rose 0.4% month-over-month. Wintermute noted that the inflation shock has become more difficult for markets to ignore, pointing out that the prolonged energy shock is now impacting core inflation and that real wages turned negative for the first time in three years.

    Market Reacts to Inflation Data

    Markets reacted swiftly to the economic data. The 10-year Treasury yield increased by 28 basis points during the week, reaching 4.58%, its highest level since September 2025. Furthermore, fed funds futures reversed expectations of rate cuts for 2026 and began pricing in a 44% chance of a rate hike by December, up from 22.5% a week earlier. Wintermute observed that the market narrative shifted from “when do they cut” to “do they hike” in just five trading days.

    This repricing negatively impacted long-duration assets. Wintermute reported that 20-year-plus Treasuries fell 2.8%, while gold declined 3.8% despite the prevailing geopolitical backdrop. Brent crude rose 8.6%, leading the firm to conclude that “the only things that worked were the things causing the problem.”

    Bitcoin’s Price Action and Liquidation

    Bitcoin briefly surpassed $82,000 following the CLARITY Act vote but subsequently reversed sharply, closing Friday near $78,000, a 5.7% decrease for the week. The weekend slide towards $77,000 triggered $657 million in liquidations, including $584 million from long positions. Ethereum underperformed even more, falling 10.2% during the week.

    Wintermute noted that ETH continued to weaken in both spot and derivatives markets, with ETH/BTC trading at 0.0275, funding rates softening, and relative implied volatility increasing. The firm described ETH as the “wrong asset for this macro.”

    ETF Outflows and Institutional Selling

    ETF flows also turned negative. Bitcoin spot ETFs recorded $1 billion in outflows for the week, ending six consecutive weeks of inflows, while ETH ETFs saw $255 million in outflows. Wintermute cited Glassnode data indicating that institutions were “selling into strength,” with the seven-day moving average of net flows at negative $88 million per day, the weakest level since mid-February. “When leverage is the marginal buyer, the unwind is fast,” Wintermute wrote.

    Technical Outlook and Key Levels

    Bitcoin remains below its 200-day moving average near $82,200, having been rejected five times this month, according to Wintermute. The immediate support zone is between $76,000 and $78,000. A break below $75,000 could potentially lead to a decline towards the $70,000 to $72,000 range.

    Wintermute acknowledged the broader structural case for Bitcoin, noting that exchange reserves remain near multi-year lows, long-term holders continue to accumulate, and the CLARITY Act is progressing. The firm also highlighted that tokenized Treasuries reached $15 billion on-chain, identifying this segment as an area of continued growth.

    However, Wintermute emphasized that short-term flows are currently more significant than the structural narrative. “The flow data shows institutions used the rally to take profit rather than add, and in the short term that matters more than the structural story,” the firm wrote.

    The next test, according to the update, is whether Bitcoin can hold the $76,000 to $78,000 area through Nvidia earnings on Wednesday, May 20. A hold would “rebuild some confidence,” Wintermute said, but a break below $75,000 with funding resetting and ETF flows negative could bring the low $70,000s back into view quickly. At press time, BTC traded at $77,297.

  • XRP Faces Resistance After $1.50 Rejection, Possible Drop to $1.

    XRP Faces Resistance After $1.50 Rejection, Possible Drop to $1.

    XRP Struggles to Maintain Key Support as Analysts Weigh Potential Price Movements

    As XRP attempts to hold a critical support level, analysts are scrutinizing key indicators that could determine whether the recent price decline is temporary or the start of a more significant correction.

    Technical Indicators Signal Caution

    XRP continued its recent downward trend on Tuesday, falling to approximately $1.35, its lowest point since late April. The cryptocurrency has been trading between $1.36 and $1.50 for the past month, repeatedly attempting to break above the upper boundary. Last Thursday, the altcoin briefly surpassed this key resistance level, reaching a two-month high of $1.54, driven by developments related to the CLARITY Act. However, the price was quickly rejected from this level, resulting in a roughly 12% drop over the past five days.

    Market analyst ChartNerd observed that XRP risks further price correction towards new lows as the altcoin retests the $1.35 area, stating that “the data speaks for itself.” The analyst pointed to several concerning signals, including significant resistance levels above and the confirmation of a “death cross” on the weekly Stoch RSI.

    ChartNerd highlighted the weekly 20 and 50 EMAs, currently at $1.50 and $1.80, as crucial resistance levels that have not been retested since their January 2026 crossover, which preceded XRP’s decline to its February low of $1.11. He also noted that the weekly Stoch RSI crossover has historically marked local tops for XRP, with the last two crosses leading to deeper corrections. The most recent crossover coincided with the relief rally that preceded the weekly EMA death cross four months ago.

    Following the recent rally to $1.54, the price has now retested the weekly 20 EMA for the first time since the January crossover. ChartNerd suggested that failure to break above this level and establish it as sustained support “will likely open the next leg down later this year.”

    Potential Price Targets and Market Sentiment

    ChartNerd emphasized that XRP must reclaim both EMAs and convert them into support to invalidate the bearish outlook, but added that “it just doesn’t feel like the right time yet.” Even if the altcoin rallies towards $1.80, the analyst believes the price will likely fail to hold that level long-term and “at least come back to, at a minimum, fill in most of this wick back down towards the lower dollar levels.” He explained that a rejection from these EMAs could potentially push the altcoin towards a cycle bottom of $0.70, a previous level of macro resistance that has not yet been retested.

    Meanwhile, analyst Ali Martinez believes XRP is poised for a significant price movement. He noted that the altcoin has been developing the “tightest Bollinger Band squeeze” on the three-day chart in over a year, describing the current compression zone as a “definitive ‘no-trade zone.’” Martinez indicated that such tight volatility compression often precedes a “violent price expansion.” He advised investors to await a clear three-day candlestick close outside of XRP’s current range, between $1.29 and $1.50, to confirm the next major trend direction. A close above the upper boundary would likely signal an expansion towards $1.80. Conversely, a breakdown below the lower boundary would invalidate the immediate bullish structure and potentially lead to a deeper correction towards the $1.00 psychological support level.

  • Ripple (XRP) Tops Revolut, Perplexity in CNBC Ranking

    Ripple (XRP) Tops Revolut, Perplexity in CNBC Ranking

    CNBC recently released its updated list of the top 50 disruptive companies for 2026, with Ripple being the sole blockchain or crypto-related firm included.

    Ripple’s Ranking

    Ripple, the company associated with XRP, was designated as “new money” and ranked as the 16th most disruptive company. This marks a significant rise from its 38th position in 2021. The latest ranking, updated recently, reflects this upward trajectory.

    Competitive Landscape

    Ripple’s ascent has placed it ahead of several prominent companies, including Samsara Eco, Canva, Carbon Robotics, Applied Intuition, Lila Sciences, Waabi, Revolut, Perplexity, and WHOOP. Notably, Ripple is the only cryptocurrency or blockchain-focused entity on the list.

    AI Dominance

    The list is heavily influenced by the artificial intelligence sector, reflecting its significant growth. Anthropic leads the ranking, described as “AI’s new No 1,” followed by OpenAI and Databricks.

    “The domination of AI as a theme has not changed, but it has intensified and it is increasingly being reflected in the top-heavy nature of the Disruptor 50. Forty-three of the 50 companies in the 2026 list class say AI is essential to their disruptive business models. Total funding across the 2026 Disruptors rose to $337 billion, up from $127 billion in 2025 — an increase of more than 2.5x. Total implied valuation, skewed by the massive sums being raised by the top AI firms, climbed to $2.4 trillion from $798 billion, roughly tripling year over year.”

    Market Sentiment

    Following CNBC’s updated rankings, Santiment Intelligence analyzed the factors driving the current trends in certain cryptocurrencies. For XRP, the analysis cited its “long-term role in cross-border payments versus replacement by stablecoins or alternative rails.”

    The analytics firm also noted that discussions on Reddit have centered on Ripple’s strategic initiatives, such as stablecoin experiments like RLUSD, token issuance, acquisitions, and fundraising, alongside concerns about supply dynamics, institutional adoption, and potential corporate selling.

  • XRP Price Faces Further Downside Risk

    XRP Price Faces Further Downside Risk

    XRP Price Dips Below $1.40

    The price of XRP has continued its downward trend, trading below $1.40. The cryptocurrency is currently consolidating losses and facing resistance levels at $1.3650 and $1.3940.

    Technical Analysis

    XRP began another decline, falling below the $1.40 mark. It is now trading below $1.3880 and the 100-hourly Simple Moving Average. A bearish trend line is forming, with resistance at $1.3720 on the hourly chart of the XRP/USD pair, according to data from Kraken. The pair could continue to decline if it remains below $1.40.

    XRP failed to maintain its position above $1.4150 and extended its decline, mirroring the trends of Bitcoin and Ethereum. The price dropped below $1.4050 and $1.40, entering a short-term bearish zone and even extending losses below $1.380. A low of $1.3464 was established, and the price is currently consolidating losses well below the 23.6% Fibonacci retracement level of the downward move from the $1.5495 swing high to the $1.3464 low.

    The price is trading below $1.3880 and the 100-hourly Simple Moving Average. If a recovery occurs, the price may encounter resistance near the $1.3650 level. A bearish trend line is also forming, with resistance at $1.3720 on the hourly chart of the XRP/USD pair. The initial major resistance is near the $1.380 level, with the primary resistance at $1.3940. A close above $1.3940 could potentially push the price towards $1.40. The next hurdle is at $1.4250, which is also the 50% Fibonacci retracement level of the downward move from the $1.5495 swing high to the $1.3464 low. A clear move above the $1.4250 resistance could drive the price towards the $1.440 resistance, with further gains potentially leading to the $1.450 resistance.

    Potential for Further Losses

    If XRP fails to surpass the $1.40 resistance zone, a fresh decline could be triggered. Initial support on the downside is near the $1.3465 level, with the next major support near $1.3350. A break below $1.3350 could lead to a further decline towards $1.3220. The subsequent major support is near the $1.320 zone, below which the price could continue to fall towards $1.3120.

    Technical Indicators

    • Hourly MACD: The MACD for XRP/USD is gaining momentum in the bearish zone.
    • Hourly RSI (Relative Strength Index): The RSI for XRP/USD is currently below the 50 level.

    Key Levels

    • Major Support Levels: $1.3465 and $1.3350.
    • Major Resistance Levels: $1.3720 and $1.3940.