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published in Blogs
Dec 29, 2020

Coinbase to suspend XRP (XRP, $0.215000) trading following SEC lawsuits against Ripple Labs

Coinbase announced that it will halt trading of the XRP cryptocurrency, after the Securities and Exchange Commission last week deemed it a security (versus a digital currency).

The largest U.S. cryptocurrency exchange said it will suspend trading of XRP in its market by mid-January. Last week, the SEC suggested that cryptocurrency exchange Ripple Labs raised $1.3 billion through its sale of XRP without registering it or applying for an exemption for seven years;  if XRP is considered to be a security, traders are supposed to pay taxes on capital gains.

Coinbase  said in a blog post that following the SEC’s lawsuit against Ripple Labs, it  has decided to suspend the XRP trading pairs on its platform.

“Trading will move into limit only starting Dec. 28 and will be fully suspended on, Jan. 19 at 10 a.m. PST.”, Coinbase said.  However, it also mentioned that that timing can’t be guaranteed.

Coinbase also mentioned that despite the halting of XRP trading, it will continue to support  XRP on Coinbase Custody and Coinbase Wallet. That means, customers would still be able to avail deposit and withdraw functionality.

 

 

Related Ticker: XRP.X

XRP.X's RSI Indicator ascending out of oversold territory

The RSI Oscillator for XRP.X moved out of oversold territory on September 13, 2023. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 45 similar instances when the indicator left oversold territory. In of the 45 cases the stock moved higher. This puts the odds of a move higher at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on September 19, 2023. You may want to consider a long position or call options on XRP.X as a result. In of 135 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for XRP.X just turned positive on August 29, 2023. Looking at past instances where XRP.X's MACD turned positive, the stock continued to rise in of 57 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where XRP.X advanced for three days, in of 386 cases, the price rose further within the following month. The odds of a continued upward trend are .

XRP.X may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Bearish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where XRP.X declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for XRP.X entered a downward trend on September 18, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Fundamental Analysis (Ratings)

Fear & Greed

Market Cap

The average market capitalization across the group is 27B. The market cap for tickers in the group ranges from 27B to 27B. XRP.X holds the highest valuation in this group at 27B. The lowest valued company is XRP.X at 27B.

High and low price notable news

The average weekly price growth across all stocks in the group was 4%. For the same group, the average monthly price growth was -3%, and the average quarterly price growth was 14%. XRP.X experienced the highest price growth at 4%, while XRP.X experienced the biggest fall at 4%.

Volume

The average weekly volume growth across all stocks in the group was 20%. For the same stocks of the group, the average monthly volume growth was -25% and the average quarterly volume growth was -18%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating:
P/E Growth Rating:
Price Growth Rating:
SMR Rating:
Profit Risk Rating:
Seasonality Score: (-100 ... +100)
View a ticker or compare two or three
Technical Analysis# Of IndicatorsAvg. Odds
   
   
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A.I.Advisor
published price charts
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XRP.X and

Correlation & Price change

A.I.dvisor indicates that over the last year, XRP.X has been closely correlated with XLM.X. These tickers have moved in lockstep 85% of the time. This A.I.-generated data suggests there is a high statistical probability that if XRP.X jumps, then XLM.X could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To XRP.X
1D Price
Change %
XRP.X100%
-2.72%
XLM.X - XRP.X
85%
Closely correlated
-2.67%
ADA.X - XRP.X
69%
Closely correlated
-2.45%
ETHUP.X - XRP.X
57%
Loosely correlated
-4.83%
ALGO.X - XRP.X
55%
Loosely correlated
-2.58%
ETH.X - XRP.X
55%
Loosely correlated
-2.38%
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