XRP: increases the price of Ripple
XRP: increases the price of Ripple
Trading

XRP: increases the price of Ripple

By Federico Izzi - 6 Dec 2019

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In the top trio stands out the price of XRP, which increases by 3%, while Bitcoin and Ethereum travel just above parity, both with a +0.2%. 

Source: COIN360.com

Today the cryptos try to announce a different weekend from the last two weeks that showed a weakness that started from the lows of November 25 and that still does not give positive signals in the medium term. 

XRP tries to put itself in the wake of the Enjin token that, thanks to the official collaboration with Microsoft, continues to rise today, even if with a lower intensity, recording a further leap of 11% trying to consolidate the rise of the last 72 hours to 10 cents of a dollar, which it had not recorded since the beginning of last July. 

XRP chart by Tradingview

Ripple tries to follow the trend, leaking rumors about the possible use of XRP in online games, being precisely a values exchange network so fast that could be well adopted in this area. 

These comments that are artfully leaked by the Ripple Foundation are bringing back strength to XRP that increases and returns above 22 cents after going nearly 21 cents two days ago.

In the rest of the sector there is a clear prevalence of green signs with over 75% of cryptocurrencies in positive territory. Among the big 20 there are only two bearish signals, Leo (LEO) and Huobi token (HT), which lost 0.5%.

Among the biggest increases of the day we have Hedge Trade (HEDG), in 29th position and $320 million dollars of capitalization with a +50% on a daily basis. It is a token that aims to revolutionize social trading based on blockchain technology, aimed at professional traders. 

The other double-digit day rise is seen by Educare (EKT) and Energi (NRG), which raised 25%. Among the most known are going well Zilliqa (12%) and Kyber Network (12%).

On the other hand, there are no worrying signs. The worst is Quant (QNT), which loses 6%.

The market cap remains above $200 billion dollars and Bitcoin recedes below the threshold of 67% market share. Ethereum loses a few fractions of a decimal returning to 8%, while Ripple gains something by returning above 4.8%.

Bitcoin chart by Tradingview

Bitcoin Price (BTC)

Bitcoin, in these last hours, returned above the threshold $7,400 dollars. For more than 48 hours the microscopic oscillations in a channel of $150 dollars made the volatility collapse on a daily basis just over 1%, considering that the volatility on a monthly basis is being higher than 2.5%. 

These fluctuations are less than half the average on a monthly basis. This does not allow to observe particular indications on a technical level, remaining valid those supplied in the last days.

A first bullish signal would arrive with the overrun sustained by the volumes of $7,500 dollars, volumes that in the last 24 hours returned to fall by about 15%. At the bottom, for Bitcoin it is necessary not to return below $7,100 dollars over the weekend to avoid the risk of entering into a vortex of speculation.

Ethereum chart by Tradingview

Ethereum Price (ETH)

The micro oscillations also characterized Ethereum that continues to move a little above and below the level of $145 dollars. For Ethereum it is important to recover as soon as possible the $155 dollars to begin to give a first signal of reversal of the bearish trend present since last June. 

An alarm bell would come if over the weekend prices will go below $140, which would open the door to the test of the lows of the last 8 months, below $133 area, the minimum level recorded with the sinking of November 25. 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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