Bitcoin News Today – Bitcoin price had an upsurge up to $12,000 but ripple price failed to increase value against the US Dollar. The XRP/USD pair appears to be developing firm support above the $0.4550 and $0.4580 levels. It is also steady above the 23.6% Fib retracement level of the downward move from the $0.5086 high to $0.4455 low.
Bitcoin (BTC) Price Today – BTC / USD
In the last couple of hours, the world’s largest cryptocurrency surged past the $12,000 resistance, rising by over 4% in 2 hours. This movement came as an opening for traders to create capital from their digital assets. Many transactions were hence noted among a few wallets too.
Bitcoin News Today – XRP Price Prediction 2019 – XRP Latest Update – Ripple’s Price Prediction – XRP vs USD
Currently, the bulls are trying a considerable close above yesterday’s bearish trend line with resistance near $0.4700 on the hourly chart of the XRP/USD pair. If this happens, the price could try the $0.4770 resistance level. The 50% Fib retracement level of the downward move from the $0.5086 high to $0.4455 low is close to the $0.4770 level to avert increment. There was a close above the $0.4650 level and the 100 hourly simple moving average.
In a recent tweet from Whale Alert, a major cryptocurrency transaction tracker, he tweeted “100,000,000 #XRP (31,625,197 USD) transferred from Unknown wallet to Unknown wallet.”
This transaction was transmitted over Ripple blockchain for a transaction fee of 0.00001 XRP. The block height of the transaction was #49150544 and it was considered a success.
Due to the bullish market movement, the transfer of such major amounts of XRP over the blockchain didn’t come as a shock for traders and investors. Nevertheless, it is also a new occurrence for the XRP community as a whole.
The current movement of funds seems to be a repeat of an event of a transfer where XRP worth over $100 million was transferred between anonymous wallets, while BTC is surging by 10%. MoneyGram confirmed the use of XRP in enabling cross-border payments in its Q2 report.
The timing here is peculiar. Though XRP is yet to record any very major price movements in 2019, in spite of Ripple’s horde of partnerships and collaborations, the said transfers may be suggestive of the XRP market’s perspective-altering. The capacity of funds transferred might insinuate that the MoneyGram news has triggered XRP.
XRP News Today – XRP Price Prediction 2019 – XRP Follows Bitcoin – XRP Price Analysis
If there is a positive break above $0.4470, the subsequent major resistance is close to the $0.4800 level. Above $0.4800, the ripple price is expected to experience a surge above the $0.4850 and $0.4900 levels. Also, there are probabilities of an upside break above the main $0.5000 resistance in the future.
On the other hand, if XRP lingers below $0.4800, there will be a possibility of a few bearish moves. On the downside, the initial supports are $0.4600 and $0.4580. If the price refuses to retain the $0.4580 support, it could decline near the $0.4450 support level. Bitcoin has sustained it surges. According to BTC price analysis, the cryptocurrency has increased with 5% in the past 24 hours, resulting in a trading value of $12,500 apiece. In all of this BTC surge, other cryptocurrencies are underperforming.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.