Ripple confident ahead of SEC lawsuit, but XRP may fall to bears

plummeted on a year-over-year basis. While the number of wallets fell by almost 63%, the total transaction count was reduced to 106 million, from about 130 million in Q4 2021, recording a contraction of 18%.Additionally, Ripple highlighted the expansion of its on-demand liquidity customer base as it entered more partnerships in the European and African markets. Despite this, the sale of the platform’s cryptocurrency, XRP, fell by 27% from the previous quarter.

XRP’s trading volume also dwindled to a little over $64 billion from $72.65 in Q3, registering a drop of 11%, the report highlighted.The quarterly report could potentially harm the interests of XRP holders. At press time, the coin slipped by almost 5% with a similar contraction observed in its market cap, perThis came after a rather good start for XRP in 2023, during which it locked in gains of 18% and reclaimed its pre-FTX level market cap of $20 billion.

The market indicators gave warning signals. The Relative Strength Index dipped sharply to its neutral level from the highs experienced of late. Moreover, the Awesome Oscillator was in red while the Moving Average Convergence Divergence showed a bearish crossover, which could lead to significant retracement for XRP.The weighted sentiment for XRP was low at press time, having entered the positive territory after a week of negativity gripped the investors.

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

XRP aims for a patterned breakout- Is a 7% hike likely?Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion Ripple [XRP] formed a symmetrical triangle pattern on the three-hour chart. A patterned breakout on the upside could offer more gains. Ripple’s [XRP] recent rally slowed, ushering in short-term price consolidation. Since January 23, […]
Source: CryptoAmb - 🏆 22. / 68 Read more »

Ripple selected by Montenegro to help develop its CBDCThe Baltic country of Montenegro has partnered with the remittance-focused crypto company Ripple to develop its own digital currency.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Montenegro launches a pilot project to build the first StablecoinMontenegro has announced a partnership with Ripple to launch a pilot project to create the country’s first digital Stablecoin. Montenegro is a candidate country for EU membership whose application is yet to be approved. The Southeastern European country of Montenegro has announced a partnership with Ripple to launch a pilot project to create the country’s […]
Source: CryptoAmb - 🏆 22. / 68 Read more »

Elon Musk seeks to end lawsuit over ‘inadvertent’ late disclosure of Twitter stakeIn a Monday night filing, Elon Musk said investors in the proposed class action had no independent right to obtain damages under the SEC disclosure rule
Source: globeandmail - 🏆 5. / 92 Read more »

Gold price down a bit ahead of FOMC meetingSenior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

The Week Ahead: GDP data due; Rogers-Shaw deadline - BNN BloombergA look at what investors will be watching in the upcoming week.
Source: BNNBloomberg - 🏆 83. / 50 Read more »