Ethereum

Bitcoin

Billion

Divergence

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 <p>The cross-border money remittance is down 2.5% to $0.58 with its cumulative losses totaling $5.5%. Bitcoin and Ethereum are also in turmoil, down 2.7% to $28,328 and 2.5% to $1,777, respectively.</p>  
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 <h2 id="xrp-dips-below-macro-downtrend">XRP Dips Below Macro Downtrend</h2> 
 <p>Since XRP topped out at $0.93 following a rally triggered by the <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a> ruling, tumbled 37%, thanks to profit-booking activities and a generally weakening crypto market structure.</p> 
 <p>As the anticipation of a rally above $1 faded in the last few weeks, the bears’ confidence increased,&nbsp;leaving XRP too weak to sustain an uptrend.</p> 
 <p>Selling pressure has also intensified below the macro downtrend on the daily chart coupled with another drop below the 50-day Exponential Moving Average (EMA) (red) at $0.6228.</p>  
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 <p>Now that losses are below $0.6 and XRP is trading at $0.58, the 100-day EMA (blue) is required to come in handy for the bulls to have a chance at pushing for a rebound. However, if the downtrend extends, bears are likely to target the 200-day EMA (purple) at $0.5261.</p> 
 <figure id="attachment_156984" aria-describedby="caption-attachment-156984" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-156984" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201140%20609'%3E%3C/svg%3E" alt="XRP price drops to $0.58" width="1140" height="609" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/08/17213305/XRPUSD_2023-08-17_18-14-22.png"> 
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  <figcaption id="caption-attachment-156984" class="wp-caption-text">
    XRP/USD daily chart | Tradingview 
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 <p>Based on the outlook of the Moving Average Convergence Divergence (MACD) indicator, a downtrend in XRP is unlikely in the short term. Short positions in XRP have the potential to turn profitable, especially with the momentum indicator signaling an extended decline.</p> 
 <p>XRP maintains the bearish outlook on shorter timeframes, including the four-hour chart where it seats below all the moving averages and the MACD dons a selling signal.</p> 
 <figure id="attachment_156985" aria-describedby="caption-attachment-156985" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-156985" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201148%20614'%3E%3C/svg%3E" alt="XRP price drops to $0.58" width="1148" height="614" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/08/17213803/XRPUSD_2023-08-17_19-07-39.png"> 
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  <figcaption id="caption-attachment-156985" class="wp-caption-text">
    XRP/USD daily four-hour chart | Tradingview 
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 <p>Whale activity, according to insights from on-chain analytics platform Santiment, has soared as investors capitalized on the price dip to buy more XRP tokens.</p> 
 <p>The increase in whale addresses buying XRP has not had an impact on the price. However, this accumulation could eventually build up the momentum for a breakout to $1.</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">🐳 As the crowd feels the pain, there are several assets seeing an increase in whale activity. As they attempt to capitalize on the discounted prices, read about the four projects we're seeing some notable activity rises: $SHIB, $XRP, $SAND, &amp; $CAKE https://t.co/SnuKebg7h1 pic.twitter.com/VWKlH95yU0</p> 
  <p>— Santiment (@santimentfeed) August 17, 2023</p> 
 </blockquote> 
 <p></p> 
 <h2 id="ripple-executive-oppose-the-sec-s-request-to-appeal-ruling">Ripple Executive Oppose The SEC’s Request To Appeal Ruling</h2> 
 <p><a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a>’s top executives, Brad Garlinghouse the CEO, and Chris Larsen the executive chairman have filed a motion that seeks to oppose the Securities and Exchange Commission’s (SEC) request to appeal the ruling in July.</p> 
 <p>In the ruling, Judge Analisa Torres determined that programmatic sales of XRP such as those on exchanges like Binance and Coinbase are not securities contrary to direct sales to institutional investors.</p> 
 <p>The judicial directive doesn’t revolve around a dominant legal issue; the SEC is unable to demonstrate a significant platform for diverse viewpoints; also, an expedited appeal wouldn’t accelerate the resolution of this ongoing legal dispute, the two executives argue.</p> 
 <p>Chiming in on the matter,&nbsp;crypto lawyer John Deaton&nbsp;said that it was pointless for the&nbsp;SEC to charge&nbsp;“the individual defendants with aiding and abetting IN A NON-FRAUD CASE, and thus, increasing the burden of proof,” was, in turn, costing the SEC.</p> 
 <h3 id="related-articles">Related Articles</h3> 
 <ul> 
  <li>Just In: Tether Pulls Support for USDT on Bitcoin</li> 
  <li>Author Makes Shocking Revelations In $4.7 Billion Celsius Network Settlement</li> 
  <li>Argentina’s Pro-Bitcoin Candidate Javier Milei Pledges to Shut Central Bank</li> 
 </ul> 
</div>

XRP Tumbles 8% In A Week, Sell-Off Or Buy The Dip?

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