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.

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
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Tune in to @IlyaSpivak 's #webinar at 10:00 PM ET/3:00 AM GMT for insight on the cross-market outlook in the week ahead. Register here: https://t.co/E213bTtq5C https://t.co/Sj2NSgZ4xD
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/MAn2EL32sU
  • In the week ahead, around 25% of S&P 500 companies will release their results, including GE, Johnson & Johnson, 3M, Microsoft, Boeing, AT&T, Facebook, Apple, Tesla, Visa and Amazon. Read more on my earnings outlook report. https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/01/17/Dow-Nasdaq-SP-500-Outlook-Earnings-May-Bring-Positive-Surprises.html
  • Wall Street Futures Update: Dow Jones (+0.20%) S&P 500 (+0.28%) Nasdaq 100 (+0.51%) [delayed] -BBG
  • Nearly 80% of the S&P 500 constituents closed in the red on Friday, dragged by materials (-0.43%), financials (-0.38%) and energy (-0.34%) whereas defensive utilities (+0.20%), real estate (+0.15%) and communication services (+0.02%) outperformed. https://t.co/vf08Fhfvxd
  • Traders focus a lot of their energy on spotting the perfect time to enter a trade. While this is important, it is ultimately where traders choose to exit trades that will determine success. Learn about the three types of trading exit strategies here: https://t.co/muYkTNXH7s https://t.co/fSRW0Z8mNQ
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/reRmDe1Ksp https://t.co/RyMqsHehsY
  • RT @GunjanJS: This is pretty wild. Last year, in RECORD year for options, about 30 million contracts traded daily. This year, it’s been mo…
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here: https://t.co/SQUCCZ9dzS https://t.co/KD6mfkiCaW
  • What are some technical and fundamental factors affecting the equities market? Get your free forecast here: https://t.co/YQG1aaIT8C #DailyFXGuides https://t.co/TEoSjMpMBo
Bitcoin (BTC), Ripple (XRP) Stemming Heavy Losses as Volatility Returns

Bitcoin (BTC), Ripple (XRP) Stemming Heavy Losses as Volatility Returns

Nick Cawley, Strategist

Bitcoin (BTC/USD) and Ripple (XRP/USD) Price, Analysis and Chart:

  • Bitcoin slumps $3,000 in 24 hours as volatility soars.
  • Ripple’s volatility at a two-year high.
Advertisement

The cryptocurrency market hit heavy selling pressure over the last 24 hours, sending the market spiraling lower. Market leader Bitcoin (BTC) dropped from a high point of just under $19,500 to around $16,300, giving back 10 days’ worth of gains in one day. BTC was just a couple of hundred dollars shy of making a fresh all-time high and the sell-off was not led by any market-moving news or event. Despite this sharp move lower, market expectations are that Bitcoin will soon make a new ATH and that today’s flush out offers buyers a chance of entering the market at a better level. Whether this is the case or not, Bitcoin’s volatility has jumped over the last few days to multi-month highs and further wild price swings cannot be discounted.

Bitcoin Trading
Bitcoin Trading
Recommended by Nick Cawley
Get Your Free Introduction To Bitcoin Trading
Get My Guide

Bitcoin (BTC/USD) Daily Price Chart (March – November 26, 2020)

Bitcoin (BTC), Ripple (XRP) Stemming Heavy Losses as Volatility Returns

After doing nothing for months, Ripple took off at the end of last week, rallying from around $0.30 to a $0.78 peak on Tuesday in heavy turnover. IG client sentiment has highlighted for months that retail has been heavily long of XRP and recent turnover shows that retail has returned to the market in heavy numbers. While Ripple has given back a large portion of its recent gains, it remains around 70% higher than last Friday, and if it can consolidate these gains, a push back to Tuesday’s high may be on the cards.

Ripple MIXED
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 0% 0% 0%
Weekly 13% 0% 13%
Learn How to Use Sentiment in Your Trading Strategy
Get My Guide

Ripple (XRPUSD) Daily Price Chart (March – November 26, 2020)

Bitcoin (BTC), Ripple (XRP) Stemming Heavy Losses as Volatility Returns

Traders of all levels and abilities will find something to help them make more informed decisions in the new and improved DailyFX Trading Education Centre

What is your view on Bitcoin (BTC) and Ripple (XRP) – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

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

DISCLOSURES