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0R15 9013.7197 0.0% 0R1E 8010.0 -1.1718% 0M69 18900.0 50.1191% 0R2V 235.29 0.3369% 0QYR 1254.0 -1.2987% 0QYP 431.0 0.0% 0RUK 2632.0 -9.9247% 0RYA 1478.0 3.5014% 0RIH 164.55 0.0% 0RIH 165.11 0.3403% 0R1O 190.0 9900.0% 0R1O None None% 0QFP None None% 0M2Z 269.25 0.579% 0VSO 33.89 -4.8167% 0R1I None None% 0QZI 577.0 0.0% 0QZ0 220.0 0.0% 0NZF None None% 0YXG 179.81 0.2062%

Crypto Report

One Cryptocurrency Trading Below the Resistance Levels-  Ripple (XRP)

Aug 01, 2024

XRP
Investment Type
Crypto
Risk Level
Action
Rec. Price (US$)

Crypto Market Round-Up

Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. Ripple (XRP) is a cryptocurrency payment system developed by Ripple Labs Inc. with the aim to rival money transfers usually conducted by the banking system. XRP has a market capitalization of ~USD 34.31 billion (as per TradingView as of August 01, 2024).

Last week, the benchmark S&P Cryptocurrency Broad Digital Market (BDM) Index started on a negative note and maintained a bearish momentum for the entire week. The index declined by 50.83 points (~1.12%) to 4500.61 for the week ending July 26, 2024. In the current week starting July 29, 2024, the index is trading with negative momentum. Moreover, other major cryptocurrencies, such as Bitcoin and Ethereum, are witnessing bearish momentum for the current week.

Having understood the S&P Cryptocurrency BDM Index movement over the last week and the scenario for the upcoming week, one crypto that seems ‘Bearish’ at the current level appears to be Ripple (XRP) Perpetual Futures based on the below technical parameters: -

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