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XRP Price Analysis, as the Token Faces Resistance at $1

Ripple’s XRP is going through a consolidation, as the token dips down below $0.90.

XRP Price Analysis

Throughout the year Ripple’s native token XRP, has faced many resistances, from legal battles to technical hazards. At the moment we are seeing Ripple go pretty low. As the token has been depreciated by 7% during the last 7-days.

Trading at $0.97, up 4% during the day, XRP has just recorded its lowest point since Sep 22nd, a few hours ago. The coin hit $0.89 as the day waned. It is the first time, during almost a month, that the token has gone down below $1. In the meanwhile the XRP continuously traded above the stated mark.

In contrast, on Nov 10th, XRP reached $1.33 which remains token’s highest level since Sep 7th when it reached $1.41. So it has not been all bad, rather what we are observing is crypto’s innate volatility.

As for XRP’s current technical standing, the token had dipped down below 55 simple moving average (4-hours), for just a short while.

In addition to 4 hours MACD on which XRP seems to enter a bearish zone, 4 hours RSI (Relative Strength Index) is currently near the 50 level.

Further, while the token has the support at $0.950, $0.92 and $0.85, it is resisted by $1.00 and $1.05.

General Market Overview

Now crypto’s overall market environment does not look bad at all. As the market’s total aggregated market cap stands at $2.57 trillion, up 5% during the last 24 hours. Bitcoin, currently trading at $57,265, is also up 5% during the day.

Market analysts are projecting that for a time being we might see a bearish trend, a consolidation period, before we head toward the last round of crypto’s boom cycle.

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Crypto Casinos vs. XRP Margin Trading: Where Is It Easier to Increase the Odds?

Many XRP investors have recently turned to margin trading. Understandably, people want the additional thrill while the market is stagnated. Perhaps, you have already experienced XRP futures with some unsuccessful deals.

Indeed, margin trading requires a lot of preparation and a deep understanding of the market. Sadly, many investors gamble away their precious holdings at futures. Even so, they ignore actual gambling, although they could be better off with it.

XRP Margin Trading — Dangerous Kind of Gambling

Let’s say you long XRP at $1 with 10x leverage. If you want to quadruple your assets, you will have to wait for XRP to rise to $1.3. In this situation, the liquidation price for your position will be around $0.9. Arguably, in the current market conditions, your position may sooner reach the liquidation price than the target price.

Alternatively, you may bet twice on even odds and get the same amount, provided you are lucky enough. In this case, the probability of winning will be at 25%. Of course, this is also not much, but it is better than getting burned out by bad decisions. The experience of thousands of broke traders doesn’t lie.

Here are the tips to help you maximize your chances of success.

Bankroll Management

The most important principle for successful traders and players alike is bankroll management. If your balance is 1,000 XRP, don’t wager all in one go. The risk of losing everything is high as nasty streaks happen every so often.

It would be much wiser to take just a tiny part of your gambling balance to bet at a time. Thus, you can enjoy the game longer and, possibly, get to a good winning streak. In any case, do not put in the game more than you are ready to lose.

Choosing the Right Game

Not all games are equal in odds. You are almost guaranteed to quickly lose your money in some games, as with the above mentioned margin position.

In other games, the odds are roughly 50:50. They provide a decent opportunity to increase your holdings without a lot of preparation needed.

The games with the highest chances of winning include:

XRP Blackjack
XRP Baccarat
XRP Casino Holdem
XRP Craps
XRP Roulette

For these games, the house edge can be as low as 0.5%! Thus, you play with approximately equal odds and a good chance to increase your balance.

Choosing the Right Place to Play

As with crypto exchanges, not all casinos are equally honest with their players. Some of them may delay payments or deliberately lower returns.

To choose a reliable casino, check the reviews online. Players rarely tell if everything goes well. However, rest assured they will leave a ton of furious comments if something goes wrong.

One of the best places to play for XRP is LTC Casino. The casino is geared towards cryptocurrency holders and also accepts Bitcoin, Ethereum, Litecoin, and Dogecoin.

The main advantages of LTC Casino include:

Instant payouts
No verification
Maximum possible return to player (RTP) in all games

By and large, these are the main factors that you should pay attention to when picking a casino.

Choosing the Right Strategy

It is also important to understand a particular game and follow a strategy to maximize your chances. For example, in Blackjack you need to know when to stand and when to hit.

Fortunately, LTC Casino has a dedicated WIKI section where they post the best time-tested strategies, so you can always make mathematically correct decisions.

How to Deposit XRP into LTC Casino?

Making an XRP deposit into LTC Casino couldn’t be easier:

Register a new account at LTC Casino
Go to the “My Wallet” tab
Choose XRP as your deposit method
Submit the transaction using the provided address and MEMO

That’s it! As XRP provides ultra-fast transactions, you should see the money on your casino balance in a few seconds.

How to Withdraw XRP from LTC Casino?

XRP withdrawals are carried out in the same way — instantly, without fees and verification!

Go back to the “My Wallet” tab;
Pick XRP as the withdrawal method;
Enter your address and MEMO if required.

Check your wallet in a few seconds, as the money should already be there waiting for you.

Can Betting Tips Help You Win?

It is undeniable that gambling is a risky undertaking, and the house always wins in the long run. However, the experience of thousands of XRP holders suggests that playing wisely could bring them much better results than incompetent margin trading.

Tips and strategies do not ultimately help break the odds in your favor, but this is the only way you can minimize the house edge and make exceptionally mathematically correct decisions.

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Spike in Market’s Volatility as $2.5 Billion Worth of Bitcoin Options Expires Today

$2.5 billion worth of Bitcoin options expiring today, as the market is seeing a downtrend.

Bitcoin Overview

Currently trading at $54K Bitcoin is down 7% during the day. In the past 24 hours the premier cryptocurrency has seen high volatility as it has dipped down to $53K from the high of $59k in the meantime, a loss of $6k approximately.

Whereas during the past 7-days Bitcoin has not performed well too. The coin traded around $58k on Nov 20th and has been depreciated by 5% since. Further if we see a monthly chart, the BTC has been devalued by 8%. Though the Bitcoin did hit an all time high on Nov 10th, it is currently down 20% at the moment.

While the volatility may seem a bit high apparently, actually it is not. As per the on-chain market data, Bitcoin’s volatility during the 90-days is rather low relative to other periods that have seen higher volatility.

How Could Expiry of Options Affect the Market?

One thing that might affect coin volatility is the expiry of 2.5 billion worth of Bitcoin options today. While the expiry would not influence the coin’s price directly, it would certainly have an impact on market’s overall volatility. Most of the professional traders hold Bitcoin options, when they expect a rise in volatility, to hedge their positions. The max price had been determined as $58k in accordance with the open interest.

The spot Bitcoin trading pair usually follows perpetual futures on various major exchanges or derivatives like options. Which causes the selling pressure on the spot market to exceed derivatives’ power.

Now, if we see a spike in market’s volatility, the Bitcoin would go through higher highs and lower lows. While an upward momentum could take the coin to $70k, a correction could mean a dip down to $45k.

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Another Country Partnered with the Ripple to Assist them in Building CBDC

Republic of Palau, an archipelago consisting of approximately 500 small islands, partners with Ripple to build the country’s digital currency.

Ripple Partners with Republic of Palau

According to a recent press release from one of the top payment service providers Ripple, Oceanian country formally named Republic of Palau has joined hands with the firm to gain their assistance in developing a USD-backed digital currency. The republic does not have its own fiat currency and relies largely on USD. The republic has made it clear that they are not adopting XRP or any crypto as legal tender, rather they are envisioning development of the country’s USD-backed digital currency.

Surangel S. Whipps Jr, republic’s president, stated Ripple has capabilities that could, systemically, cater to the country’s financial aspects.

While he noted as part of their commitment to technology and innovation they are delighted to partner with Ripple, he added, in the first phase of the project the focus will be on cross-border payments strategy as they will explore “options to create a national digital currency, providing the citizens of Palau with greater financial access.

Ripple stated that they have a sustainable and fast blockchain technology through which the firm will enable republic to execute cross-border transactions within five seconds.

Ripple’s Regulatory Struggle

Despite their ongoing battle with the US securities watchdog SEC, Ripple does not seem to be troubled anymore. SEC filed a lawsuit during Dec 2020 that charged the firm with the allegation of selling $1.38 billion worth of XRP tokens as securities.  In the early stage of the proceedings Ripple suffered badly, as many exchanges delisted XRP which caused the token to lose its value swiftly. But now as we are almost a year ahead, things seem to have changed as Ripple is continuing its progress in almost every sector they have set their eyes on.

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Bitcoin ‘Solidifies’ Support At $58K As Volatility in the BTC Falls to a 7-month low.

Rekt Capital, a trader and analyst, says that support is “solidifying” at current levels, indicating that there is still chance for a more convincing trend reversal. Bitcoin’s support has been solidified, with a long negative wick towards the bottom of the black wedging structure and a powerful rebound, he claimed.

BTC Price Movement

After BTC/USD reaches multi-day highs with no significant retracement, encouraging signs point investors away from expecting the worst.  BTC achieved multi-day highs of $58,300 overnight on November 25 as investors bet on a lower possibility of a dramatic price drop.

Bitcoin’s price is $58,076.11 at the time of writing, with the change of 2.64%. The coin’s trading volume is $34,185,292,068 in the last 24 hours, with a market cap change of $1,069,446,719,146. It has a total supply of 18,882,837, a maximum supply of 21,000,000, and a circulating supply of 18,882,837.00 BTC.

On the other hand, Binance Coin (BNB) became the single standout among the top ten cryptocurrencies by market capitalization, rising 8% week over week. Currently, the price of the BNB is $639.34 along with the market cap of $106,355,032,518. The trading volume of the coin in the 24 hours is $106,355,032,518. Other tokens were flat or experienced slight losses, with Solana (SOL) leading the way with a nearly 7% drop to over $200 on the day.

According to expert Pentoshi, the most hilarious end to a crypto bull market would be double-digit inflation and people not understanding why that might be bearish for risk on assets.

This week, exchanges provided mixed indications about selling pressure, with strong inflows and outflows indicating a very active market. The exchange whale ratio, which quantifies the size of the top 10 deposits to exchanges as a percentage of all deposits, is alarming.

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DOGE Not Good for Crypto as it has “Inflationary Dynamics”, CEO Ripple Brad Garlinghouse.

Ripple CEO is not fond of meme coin “DOGE”, as he dismisses it for having “inflationary dynamics”.

Inflationary Dynamics of DOGE

Brad Garlinghouse recently appeared at Abu Dhabi Fintech conference where he was interviewed by a CNBC-moderated panel. While the interview discussed a wide range of topics, one of its highlights was Garlinghouse’s opinion on “DOGE”.

While asked about the “DOGE” Garlinghouse said he believed that “DOGE” is not good for crypto as he argued the token itself has “inflationary dynamics” that stops him from holding it as a hedge against inflation. He meant that while the increasing inflation is driving Bitcoin’s value upwards it would not do much for “DOGE” as the token is developed in a way that causes it to inflate overtime.

He explained, this is largely because the token now has an uncapped supply, contrary to other major cryptocurrencies like Bitcoin, that has a market supply limit of 21 million coins.

He noted that the token was initially built as a joke, which later gained some momentum, thanks to some high-profile personals, namely Tesla CEO Elon Musk.

Lately, Musk has been rooting for DOGE ambitiously as his tweets have, on several occasions, taken the token through the roof.

Most recently, he brought DOGE’s withdrawal-related issues directly with Binance’s CEO Changpeng Zhao. To which Zhao responded the ongoing issue was caused by a “technical issue during the recent upgrade process that caused old transactions to be resent to 1,674 users.”

DOGE, A Little Recap

Built in 2013 DOGE is largely considered a meme coin as it is based on the famous Shiba Inu meme. At the time it was launched the token had the market cap of 100 billion coins, which it reached during mid 2015. Following that DOGE now has an uncapped supply which is restricted through an imposed limit on reward per block, to keep inflation in control.

The token made headlines in 2020 and is currently the world’s 10th largest coin in the world. Trading at 0.217 DOGE is up 6000% during the year

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Despite Few Corrections, Crypto Total Market Grew by $2 Trillion During the Year

As we lead towards the end of the year, let’s just have a recap.

Though the crypto has grown significantly across all the relevant spaces, during the year, the most significant one is of total market cap. Currently standing above $2,500 billion ($2.5 trillion) , the number has grown approximately by 2,000 billion ($2 trillion) as on Nov 23rd 2020 the market cap was above $500 billion ($0.5 trillion) only. In the meantime, on Nov 9th, the market even crossed the $2,900 billion mark (2.9 trillion).

This huge growth in crypto’s total market cap shows, rather obviously, the unprecedented inflow of investment, this is largely because of Bitcoin’s price action throughout the year.

Down by over 2% in 24-hours the BTC is currently trading above $56,000, the growth of approximately $19,000 as compared to Nov 2020 price level. As at the end of the month BTC had traded below $20,000. At the Same point, as mentioned earlier, crypto’s total market cap was above $500 billion only.

On Jan 8th 2021 the BTC crossed $40,000, followed by $50,000 on Feb 17th before the coin crossed $60,000 on March 13th. At the Same point in time BTC’s crypto’s market cap was above $1,800 billion ($1.8 trillion) and then the coin stumbled severely. On July 20th the Premier cryptocurrency crashed below $30,000, taking market cap to $1,200 billion ($1.2 trillion).

BTC regained the lost price mark of $60,000 on Oct 15th as on Nov 10th the BTC reached its current all time high of $68,789 causing total market cap to surpass $2,900 ($2.9 trillion).

Trading at $56,700, the BTC is down 18% from the all time high.

Moreover, similar trajectory was followed by other crypto coins too as in the meantime many hit all time highs.

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TVL on Ethereum Layer-2 Surges to an All Time High, as Network’s Gas Fee Continues to Increase

Despite increasing gas fees, TVL(Total Value Locked) on Ethereum Layer-2 has doubled in the past month.

TVL on Ethereum Layer-2 Surges to All Time High

According to the data shared by Layer-2 analytics, L2beat, the Total Value Locked(TVL), across various network and layer-two protocols, has gone up by 110% since the beginning of October. As the market reached an all time high of $5.64 billion recently. At the start of Oct the TVL was $2.67.

Ethereum Layer-2 provides scaling solutions with lower transaction fees and high transaction throughput. An overwhelming 45% of the Total Value Locked(TVL) on the network is held by Arbitrum, as the firm has a lion’s share of $2.67 billion. On the second number it is dYdX derivatives DEX(decentralized exchange) that helds a share of $975 million. Whereas, with $580 million, Loopring layer-two DEX is the third largest shareholder.

Ethereum’s High Gas Fee

The TVL surged significantly during the ongoing month despite the fact that the gas fee has been at an all time high(averagely) this month. According to BitInfoCharts, on Ethereum Layer-2 the gass fee reached Network’s second highest level of $65, as it has grown by over 700% during the last four months. Whereas the average fee in November remains at $40, which as stated above is an all time high.

Hitting new ATHs in $ETH locked in layer2

🚀 pic.twitter.com/0971sAdS16

— Evan Van Ness 🐬 (@evan_van_ness) November 22, 2021

As per Etherscan, the network’s gass fee varies depending on the operation at hand, as the analytics platform explained that if the user transfers a simple ERC-20 token it may be charged $45, whereas if a more complex operation is executed, I.e. Uniswap swap, the fee might go up to a painful $140.

Another example of Ethereum’s high gas fee is the registration of name on Ethereum name service, as a single name registration could cost hundreds of dollars in gas fee though the cost of actual domain name is barely few bucks an year.

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ODL is a ‘killer value proposition to RippleNet’ Says General Manager RippleX

Despite its ongoing battle with the US securities watchdog SEC, Ripple has been making a ton of progress across multiple sectors.

GM RippleX Discusses Company’s Progress

In her recent interview with Thinking Crypto’s Tony Edward, Minca Long, General Manager at RippleX, discussed the company’s progress at length.

Labelling On-demand liquidity(ODL) service, a “killer value proposition to Ripple Net”, Long spoke that while the ODL has been in the market for a few years now, the service has has grown significantly in the near past as during the Q3 2021 ODL got bigger 25 times as compared to Q3 2020. Further, the service has also made growth of 130% quarter on quarter.

She noted that currently ODL is available in 20 countries around the world, including the US, Japan, Australia, Mexico, and Philippines. Long explained, one does not need to own any XRP to use ODL as the token is sourced from Ripple or other exchange partner. She added that this is one of the two models available, which possess the features that will speed up. the processes and cut down the otherwise high transaction fees.

NFT’s Future on XRP Ledger

Long then went onto discuss all intriguing NFT space as she, like its colleagues at Ripple, highlighted Ethereum Network’s shortcomings, especially the high transaction fee. She compared it to XRP Ledger that, she claimed, charges  just a fraction above a penny. She also shed some light on XLS-20 standard, proposed earlier this year and on which validators will be voting sometime in the coming future. Cheering blockchain decentralized nature, Long stated:

That’s kind of the beautiful thing about these blockchains, is they’re decentralized and open. But it means, you know, it’s a timeline that’s in the hands of the community, really.

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While the BTC Could Go Through a Correction to $48k, a Rally is still on the Charts

Just last week it was cheered that $100 billion was added to the crypto market cap within a day, as it grew to $1 trillion, and now a 10% decrease in Bitcoin’s value over the week has caused the exodus of more than $300 billion.

$340 Billion Got Vanished from the Market

At the end of the previous week, the aggregate market cap of crypto was $2.87 trillion, that is now down to $2.53 trillion. Which constitutes to a decrease of $340 billion from the past week. It was largely due to the $1.2 trillion bipartisan infrastructure Bill that was signed just last Monday.

At the end of the past week BTC was trading above $64,000 and went down below $56,000 hours before the press, a dip of approximately $8,000. Currently trading fractionally above $57,000 BTC is down 10% during the week. Whereas the Premier crypto has lost 11% of its value during the last 30 days as at the end of  the October’s third week BTC traded between $66,000 and $62,000.

The recent price action has impacted, as usual, other coins too. As every single cryptocurrency among the top 10 is down by approximately 10% during the week.

While the DOGE has lost the most, BNB has lost the least. Whereas ETH, SOL, ADA, XRP, and DOT have gone down by 9.84%, 10.23%, 9.45%, 10.15%, and 11.39%, respectively.

What to Expect in the Coming Days?

Despite a rather dull performance by the BTC, recently, people are still bullish on the coin, as analysts project a potential rally. Famous crypto enthusiast and analyst, Credible Crypto suggested, sharing a chart:

“19 months later, and here we are. It really doesn’t matter what type of structure this Wave 4 forms- the purpose is the same- re-accumulation before the 5th and final wave of this bullish cycle.”

Moreover, Michael van de Poppe, another prominent personality in crypto, also stated that he believes the market is still in the bull cycle. He added that while a correction to $$48-50K is on the charts, it will make part of a lengthy bull cycle.

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