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Forex Forum Crypto-currency Analysis.


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XRP price is trapped within a recent downtrend as the momentum has flipped to the downside. Ripple lagged behind while other cryptocurrencies, including Bitcoin and Ethereum, recently witnessed rallies reaching new all-time highs. If the cross-border remittance token fails to hold one crucial foothold, it could continue to edge lower.

XRP price at risk of 9% decline
XRP price has formed a descending parallel channel pattern on the daily chart since October 9, printing lower highs and lower lows, unable to escape the governing downtrend.

On the other hand, Stablecoins are very popular these days and it’s safe to say that these dollar-pegged tokens are not going anywhere any time soon. For instance, at the time of writing, there’s around $29.2 billion in global trade volume dedicated to bitcoin (BTC) trades only.

Currently, the stablecoin tether (USDT) commands 61.46% of all the BTC trades according to cryptocompare.com data. Below the U.S. dollar is the stablecoin BUSD, a stablecoin curated on the Binance Smart Chain as BUSD commands 5.29% of all BTC trades today.

Moreover, cryptocurrency market was back in the negative, with Bitcoin, one of the most prominent assets, trading at $61,230.81. On this day, the worldwide crypto market capitalization was $2.51 trillion. It's important to remember that the top market gainers and losers have changed throughout the last 24 hours.

The overall cryptocurrency market volume for the previous 24 hours was $95.08 billion. After reporting a remedy to a potentially costly "double-spend" flaw on the Polygon network, white hat hacker Gerhard Wagner has earned $2 million. According to CEO Vlad Tenev, more than 1 million people are on the waiting list for Robinhood's long-awaited crypto wallet.