Ripple Network and XRP Overview after Getting Knocked Down by IOTA [Video]

Kiana Danial, CFP Invest Diva

Today I’d like to take a look at Ripple, which has recently been knocked down by IOTA in terms of market cap. Ripple is now the 5th largest cryptocurrency by market cap, trailing behind Bitcoin, Ethereum, Bitcoin Cash, and IOTA. Its market cap stands just above $9 billion as of December 5th according to coinmarketcap.com. It’s good to remind you that Ripple is both a payment network (RippleNet) and a cryptocurrency (Ripple XRP) created in 2012. RippleNet connects banks and other big institutions and allows them to transfer money and other assets through the network. All transactions are recorded on the decentralized XRP Ledger. Now let’s take a look at XRP’s price versus the USD. After it first became available on online exchanges for trading in May 2017, XRP’s price has mainly ranged between 0.28 and a median support level of 0.19. While we don’t yet have much data to conduct a thorough technical analysis, the Ichimoku cloud has kept its flat format. The cryptocurrency has yet to reach its ICO price level of 0.37, even during high volatility and breaking news. With this, we may be able to see another test of 0.19, which could be an attractive buy limit order potential for those who are interested in getting exposed to Ripple and adding XRP to their cryptocurrency wallet. Thanks for watching, invest responsibly, and I’ll see you with more updates tomorrow.

For more from Invest Diva, click here

Author

Kiana Danial, CFP

Invest Diva

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert.

EUR/USD climbs to two-week highs beyond 1.1900

EUR/USD is keeping its foot on the gas at the start of the week, reclaiming the 1.1900 barrier and above on Monday. The US Dollar remains on the back foot, with traders reluctant to step in ahead of Wednesday’s key January jobs report, allowing the pair to extend its upward grind for now.

GBP/USD hovers near 1.3600 as UK government crisis weighs on Pound Sterling

GBP/USD moves sideways after registering modest gains in the previous session, trading around 1.3610 during the European hours on Monday. The pair could come under pressure as the Pound Sterling may weaken amid a fresh government crisis in the United Kingdom.

Gold holds steady above $5,000

Gold builds on the gains it posted to end the previous week and holds steady above $5,000 on Monday. Data released over the weekend showed that the People's Bank of China extended its Gold buying spree for a 15th month in January. Moreover, dovish US Fed expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Crypto Today: Bitcoin steadies around $70,000, Ethereum and XRP remain under pressure

Bitcoin hovers around $70,000, up near 15% from last week's low of $60,000 despite low retail demand. Ethereum delicately holds $2,000 support as weak technicals weigh amid declining futures Open Interest. XRP seeks support above $1.40 after facing rejection at $1.54 during the previous week's sharp rebound.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.