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Analyst Hints XRP Might Fall Out of the Top 10 Crypto Assets! XRP Price

XRP price dropped 5.46%, marking it as the 3rd straight day of the bearish trend. Ripple was the worst performer…

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XRP Price Trumble Following Delisting on Major Exchanges

Without a doubt, the focus of this week’s has been the drama centered around Ripple. The asset slipped to 4th place in the global cryptocurrency market rating with the current market capitalization of $13.2 billion and an average daily trading volume of $9.5 billion.

Since last week, Ripple was the worst performer out of the Top 10 Cryptocurrencies. XRP price dropped 5.46%, marking it as the 3rd straight day of the bearish trend.

The correction came alongside a change in volume that was down 8.95% from the previous day, but up 72.72% from the Sunday of last week.

Also Read : Bitcoin Going Parabolic This Christmas!! Will it Touch $30K by New Year

At Press time XRP price is trading at $0.279981 with a 24-hour trading volume of $8,903,171,174. XRP is down 5.60% in the last 24 hours. The current CoinMarketCap ranking is #4, with a market cap of $12,712,258,472 USD.

Will XRP Fall Out of the Top 10 Crypto Assets ?

1/3
4. $XRP will get delisted from Coinbase (ahead of its IPO) and will fall out of the Top 10

5. $GRT will be a Top 30 Coin in 2021

6. A Bitcoin ETF will finally get approved in 2021

— SpartanBlack (@SpartanBlack_1) December 28, 2020

Popular Crypto enthusiast and partner at TheSpartanGroup with twitter handle @SpartanBlack_1 shared a thread of 10 crypto predictions for 2021.

According to him,

$XRP will get delisted from Coinbase (ahead of its IPO) and will fall out of the Top 10.

Chicago-based Jump Trading , Mike Novogratz’s Galaxy Digital and Bitstamp Respond to Ripple Lawsuit

In light of the SEC’s recent filing alleging XRP is a security, we are going to halt XRP trading and deposits for all US customers on January 8, 2021. Other countries are not affected. Read more: https://t.co/RUGtkAjr08

— Bitstamp (@Bitstamp) December 25, 2020

Recently, Bitstamp exchange also introduced limitations on XRP trading. As per the exchange, the US-based customers will not be allowed to trade or deposit XRP as of January 2021. The Bistamp’s decision halted XRP’s upside correction and threw the price back below $0.30.

Also, Jump Trading will no longer provide liquidity for XRP. Which could result a big blow to XRP. Without sufficient liquidity, spreads could increase. Large investors may find it difficult to enter and exit large positions.

As coinpedia reported earlier, several cryptocurrency exchanges delisted or suspended XRP trading, citing concerns about Ripple’s legal issues. however, if the court decides that XRP is a security, the trading platforms may be accused of making it available for retail investors.

Overall, Considering all the factors, it seems that the three main reasons for the sharp decline in the price of XRP: SEC lawsuit, bearish sentiment, and probable delisting by cryptocurrency exchanges.

At Press time XRP price is trading at $0.279981 with a 24-hour trading volume of $8,903,171,174. XRP is down 5.60% in the last 24 hours. The current CoinMarketCap ranking is #4, with a market cap of $12,712,258,472 USD.

Source: https://coinpedia.org/news/xrp-fall-out-of-the-top-10-crypto/

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Coinpedia

Delisting XRP Continues in Exchanges, XRP Price Crash to Lowest Levels

XRP price may experience a small bounce which will be short-term but in the long term, the price may visit lower levels.

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XRP Price Plunge to Continue or Bounce Back?

As the SEC lawsuit aganist the Ripple Labs made rounds, many exchanges including Coinbase, Okcoin, Bitmax, etc either suspended the trade or just delisted the XRP trading pairs. The recent addition to the list currently is Bittrex which announced the delisting of XRP from its platform.

With the environment surrounding the digital asset is going very negative, many believe XRP will plunge to the lowest ever levels possibles as predicted by an analyst, Alanmasters.

Referring to the above chart posted by the analyst, he says that XRP is not done with the correction phase yet and it can go still lower. He further adds that XRP has trillions of coins in circulation which may be dumped following a massive decline in price.

xrp price analysis

However, the analysts also said that the XRP price may experience a small bounce which will be short-term but in the long term, the price may visit lower levels.

Is It A Buying Opportunity?

Every smart trader looks for a buying opportunity for the asset when the plunge initiates. The more the asset declines, it attracts more traders to invest in it. The similar thing may be happening with XRP currently.

One of the largest hedge fund Grayscale has flipped its acquisition pattern with XRP. It is well known to acquire major assets like BTC and ETH, and now with a recent update, the firm has accelerated XRP holding by 8.5% since the price started plunging.

The high amount of XRP holdings by Grayscale Investments during the recent plunge might have pumped the asset to some extent. However, as per the reports, Grayscale invested in XRP as the price plunged to its lowest levels, showcasing the crypto community’s trust of a strong rebound by XRP.

Source: https://coinpedia.org/news/xrp-price-crash-to-lowest-levels/

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Popular Analysts Believe Bitcoin Price Will Be $50k in 8 Weeks!!!!

The Bitcoin price is currently testing the current all-time high at $28,400, with analysts warning of a correction.

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Bitcoin Price hits new record! The top cryptocurrency has gained over $1,600 in value some hours ago after trading as low as $26,200 yesterday. The leading cryptocurrency set a new all-time high above $28,500, pushing to $28,600 on top exchanges.

In the last week of the year, Bitcoin has been seeing a lot of action as the price rebounded strongly, touching near its previous all-time high (ATH) at $28,378.

Bitcoin Price Analysis bitcoin price chartCredits : FX Empire

The BTC/USD trading pair is now approaching the $30K mark. A quick uptrend is quite possible. However, the 30k target might create some selling and a pullback. But, as long as price action shows heavy corrections, a major bullish trend remains the most likely scenario.

The graph also shows that the price action might show a retracement before hitting 30k. Then price could fall back to the 23.6% and 38.2% Fibonacci retracement levels. This a potential support zone and bullish bounce.

Also Read : What Bitcoin Price Will Look Like in 2021?

The key support zone is the 38.2-50% Fibonacci levels. A bullish bounce would confirm pullback on the lower time frame. And the uptrend could continue.

According to the 4 hour chart, the bearish break below the 61.8% Fib could be a first indication that a deeper pullback is taking place

BTC price poised to hit $50k

BITCOIN WILL BE $50,000 IN 8 WEEKS!!!!

Sounds insane?

This tweet sounded exactly as insane 8 weeks ago and we pumped over 100% since 😅😂 https://t.co/GhRumQE0R7

— Ivan on Tech (@IvanOnTech) December 29, 2020

Popular crypto strategist and analyst with Twitter handle @IvanOnTech predicts that bitcoin price will hit $50k in 8 weeks. The analyst also shared a graph saying that Bitcoin Could Retest Support at $26,400! And Would Be Bullish Confirmation of Breakout.

BTC price analysis

Source: https://coinpedia.org/news/bitcoin-price-will-be-50k-in-8-weeks/

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Trust Wallet Review – A Secure and Hassle-Free Wallet

Trust Wallet is that simple yet effective digital wallet that helps you store your cryptocurrencies. Trust Wallet Fees and Limits…

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With the crypto prices surging high like never before, daily there are thousands of new crypto investors and traders looking for digital wallets to store their crypto. As we store our cash in the wallet, crypto wallets are digital ones where cryptocurrencies can be stored.

Any crypto wallet user looks for safety in the first place. So, here in this article, we will talk about one of the new crypto wallets – Trust Wallet which is a safe and secure option for storing your crypto assets. We will cover all the aspects of this new wallet so that you can get an insight into the same and decide whether to use it or not.

Overview NameTrust WalletReleasedNovember 2017Wallet typeMobile WalletPriceFreePlatforms supportedAndroid and iOSCryptocurrencies supportedBitcoin (BTC), Ethereum, Ripple, Bitcoin Cash, Litcoin, othersMobile supportYes What is Trust Wallet?

Trust Wallet is that simple yet effective digital wallet that helps you store your cryptocurrencies. It offers great features which are pretty straightforward and user-friendly. This is an open-source digital wallet that is quite easy to set up and use.

You can receive and send multiple cryptocurrencies and not just one or two as this wallet accepts a wide range of such currencies. There is an option for storing private keys as well which is included in the security feature of this application which makes the app way more secure than its peers. You can use its built-in exchange as well and other decentralized applications directly from the Trust Wallet platform.

Salient Features of Trust Wallet

  • User-Interface: It is an easy-to-use application where you can buy cryptocurrencies within five minutes. You can exchange the cryptocurrencies even without leaving the application.
  • Supports multiple currencies: You can invest in multiple cryptocurrencies like Bitcoin, Ethereum, and others. You can check all your crypto assets in one place. You do not have to use different wallets for storing different cryptocurrencies.
  • Earn Interest: Yes, you can also earn interest on the cryptocurrencies that are in your Trust Wallet.
  • Charts and analytical tools: There are multiple charts, tools, and resources for tracking the price of your favorite cryptocurrencies on this platform.
  • Security: It is a safe platform for storing your cryptocurrencies. It is secured from hackers. There is also the option for encrypting private keys and the control lies with you only which makes it much safer.
  • Compatibility: It is compatible with Android 6.0 and above and also with iOS 13.0 and above.

Trust Wallet Fees and Limits

There are no charges for downloading and using this wallet. You can download it from the App Store if you are an Apple/iOS user. If you are an Android user then you can download it from the Google Play Store.

However, if you are transacting cryptocurrencies, then there is a network fee that you have to pay for the outgoing transactions of cryptocurrencies.

How to Set up Trust Wallet?

To set up you just need to follow these three steps –

  • Download Trust Wallet from Play Store or App Store
  • Create a new wallet in the application. You will get a login id and password after you create the wallet.
  • Log in and you can buy some cryptocurrencies as you are all set.

How to Add Currency to Trust Wallet?

To add cryptocurrency to this wallet you have to –

  • Login to your new wallet on Trust Wallet.
  • Click on the option ‘Receive’
  • Copy your wallet address or scan the QR code. Use these for transferring funds into the wallet.
  • Then you can confirm the transaction being completed or not by clicking on the ‘transactions’ tab and checking the history of transactions.

How to Make Payments With Trust Wallet?

For making payments from Trust Wallet you have to –

  • Login to the wallet of yours.
  • Click on the ‘Send’ option/button
  • Scan the QR code or enter the wallet address of your recipient
  • Enter the amount to be sent and click on ‘Next’
  • Tap on ‘send’ after reviewing the transaction details.

Pros

  • It’s free to download
  • Convenient and user-friendly
  • Wide range of cryptocurrencies
  • Private key encryption for security
  • Interest earning on cryptocurrencies in the wallet
  • Available for both iOS and Android platform

Cons

  • Not as much secure as the hardware crypto wallets

Conclusion

To conclude, we can say that the Trust Wallet is an easy to use crypto wallet which is loaded with multiple features. It supports most of the cryptocurrencies which makes it a viable option for those who invest in multiple cryptocurrencies. It is user-friendly and thus even the novice in this market can use this wallet.

FAQ

Is Trust Wallet completely free to use?

Yes, it is completely free to use. You can download it for free and use it without paying anything. The cost which you are required to pay is for the transaction of cryptocurrencies and not for using Trust Wallet.

From where can we download Trust Wallet?

You can download it from –
Apple App Store – You can download it from the App store of Apple for your iOS smartphone.
Google Play Store – Android users can easily download it from the Google Playstore.

Can I purchase any Crypto with this wallet?

Yes, you can buy crypto without sharing any personal details of yours as no personal details are collected by this application. You can just use your credit card and buy the cryptocurrencies.

How to encash my cryptocurrencies on Trust Wallet?

If you want to encash your crypto then you have to send the same to an exchange. There it can be converted to Fiat currency. On Trust Wallet, you cannot directly encash your crypto or convert it into fiat currency.

Is Trust Wallet secure platform?

It is safe and secure. You can use the private keys to have more control over your wallet and make it more secure.

Source: https://coinpedia.org/crypto-wallet/trust-wallet-review/

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