Ripple trading volume on Bitstamp has increased substantially over the past two months, and may represent a combination of capitulation and selling from Jed McCaleb.
On-chain fundamentals for XRP are skewed due to both a spam attack on the network and the escrow rotation of sold and unsold XRP each month. Despite the numerous RippleNet partnerships and announcements over the past several years, on-chain metrics do not show a sustained increase in activity. For many, regulatory clarity regarding the status of the XRP token as an unregistered securities offering by Ripple Labs is still needed. To further muddy the waters, Ripple also plans for an IPO in the near future.
Technicals for both the XRP/USD and XRP/BTC pairs are consistent with bearish continuation. Both pairs remain below their respective 200-day EMA and daily Cloud resistance levels. Continued selling pressure by Jed McCaleb will likely continue to bring prices of both pairs to multi-year lows. XRP/USD will need to breach the US$0.25 zone and the XRP/BTC pair will need to breach the 3,000 sat zone before any chance of an extended bullish rally.
This is a companion discussion topic for the original entry at https://www.youtube.com/watch?v=cSFZbKmvXP8