News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Technical Levels: #Dollar, #Loonie, #Aussie, #Gold, #Silver, #Oil, #Bitcoin and more! (Webinar Archive) - https://t.co/lQIS4EvFkh
  • Russian mainline gas pipeline has exploded in the Perm region - BBG #OOTT #Oil $CL_F
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.10%, while traders in Wall Street are at opposite extremes with 75.09%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dpAetV8XEY
  • Pfizer, Moderna to expand vaccine studies to children aged 5-11 - BBG $PFE $MRNA
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 0.25% Gold: -0.18% Oil - US Crude: -0.72% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/rLDtKWOz9b
  • There is a creep of uncertainty with the rise of the Delita variant and the slowing of the economic recovery. Our DFX analysts give you an updated analysis of the top opportunities for Q3 Right pointing backhand indexhttps://bit.ly/3iMvB6R https://t.co/g76CqYNXth
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.61% 🇨🇭CHF: 0.43% 🇳🇿NZD: 0.35% 🇦🇺AUD: 0.23% 🇯🇵JPY: 0.22% 🇨🇦CAD: 0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/T1b1TurlS1
  • There is a creep on uncertainty with the rise of the Delita variant and the slowing of the economic recovery. Our DFX analysts give you an updated analysis of the top opportunities for Q3 👉https://t.co/wEineMCbzt https://t.co/WN7FCc05kD
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: US 500: 0.18% France 40: 0.12% Wall Street: 0.06% FTSE 100: 0.06% Germany 30: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/bk2Kev7Pcr
  • The price of gold consolidates ahead of the Federal Reserve interest rate decision on July 28 as the central bank is expected to retain the current policy. Get your $XAUUSD market update from @DavidJSong here:https://t.co/w5te9nqWSS https://t.co/byi01PAjlS
Ripple (XRP) Price Slump a Timely 'Crowded-Trade' Warning

Ripple (XRP) Price Slump a Timely 'Crowded-Trade' Warning

Nick Cawley, Strategist

Ripple News and Talking Points

- Ripple’s rally rudely interrupted – further losses may follow.

- Retail sentiment shows traders are overwhelmingly long XRP.

IG Client Sentimentshows 96.0% of traders are net-long Ripple with the ratio of traders long to short at 23.83 to 1. In fact, traders have remained net-long since Dec 25 when Ripple traded near $2.49; price has moved 68.7% lower since then. Download the guide to see why changes in client holdings matter.

Ripple (XRP) Chart Shows Heavy Daily Loss

After doubling in April – from $0.45 to $0.96 Ripple met heavy sellers in the last 24 hours and slumped back down to a low around $0.74, painting an ominous technical picture. The sell-off was predicated on media reports that Gary Gensler, the former chairman of the CFTC, suggested that XRP may be classified as a security and that regulators need to bring some clarity to the situation. Although not a new situation – Ripple have previously denied that XRP is a security – the news story hit Ripple hard, highlighting the fragile nature of the recent rally. And with retail customers very heavily long of XRP (See IG Client Sentiment above), further sell-offs may become self-fulfilling as retail jetison the crypto-token.

On the short-term chart support at $0.71 before a chart gap, and the 200-day moving average, between $0.59 and $0.62.

We will be discussing a range of cryptocurrency charts and price set-ups at our Weekly Cryptocurrency Webinar on Thursday at 10:30am.

Ripple (XRP) Four Hour Price Chart (April 2 – April 25, 2018)

Ripple (XRP) Price Slump a Timely 'Crowded-Trade' Warning

Cryptocurrency Trader Resources – Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars

If you are interested in trading Bitcoin, Bitcoin Cash, Ethereum, Litecoin or Ripple we have an Introduction to Bitcoin Trading Guide along with a Free Demo Account to help you get started.

What’s your opinion on Ripple – bullish or bearish? Share your thoughts and ideas with us using the comments section at the end of the article or you can contact me on Twitter @nickcawley1 or via email at nicholas.cawley@ig.com.

--- Written by Nick Cawley, Analyst.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES