XRP Price Analysis – July 31

  • XRP price is out of the range-bound zone after the bearish trend.
  • The support level at $0.43 has been broken, XRP price is likely to find support at the previous low of $0.24.

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRP Price Medium-term Trend: Ranging

Supply levels: $0.43, $0.44, $ 0.45                                     

Demand levels: $0.40, $0.39, $0.38

Yesterday, July 30, the XRP price was range bound between the levels of $0.51 and $0.43. Today, the bears have broken the support level $0.43.

XRP price is likely to find support at the previous low of $0.24. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price of XRP is below the 12-day EMA and 26-day EMA  which indicates that a bearish trend is ongoing.

XRP Price Short-term Trend: Bearish

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

On the 4-hour chart, the XRP price is in a downward trend. The price of XRP has broken the support level at $043. The price of XRP is below the 12-day EMA and 26-day EMA  which indicates that the bearish trend is ongoing. Meanwhile, the Relative Strength Index period 14 is level 26  which indicates that the market is oversold suggesting bulls to take control of price.

                                                            

  The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.           

Quantitative Bitcoin Analyst PlanB Explains Why His Identity Remains a Secret

Michael LaVere
  • Quantitative crypto analyst PlanB keeps his identity a secret to avoid interfering with his employment at an institutional investor.
  • PlanB gained prominence for being the first analyst to apply the stock-to-flow (S2F) model to bitcoin. 

The anonymous crypto analyst PlanB has revealed why he keeps his identity a mystery. 

PlanB, who gained prominence on Twitter and Medium for being the first analyst to apply the stock-to-flow (S2F) model to bitcoin, said he keeps his true identity a secret in order to avoid interfering with his day job. 

Speaking in an interview with In Gold We Trust, the quantitative analyst said, 

I am both an analyst and investor at an investment office of a large institutional investor in the Netherlands. As a team we invest USD 50+ billion AUM. My main focus is on mortgages, loans, and structured finance. I do not want my employer to have any negative consequences from my Bitcoin ‘hobby’. Also, I consider it good operational security to remain anonymous.

PlanB continued, explaining he has no interest in becoming a public figure and does not intend to reveal his identity any time soon. 

He also refuted several criticisms against the application of stock-to-flow to bitcoin, which evaluates the injection of new BTC into the market relative to the total circulating supply. 

He said, 

People that use the demand argument probably don’t have a statistics or investing background. The argument is theoretically right (price is a function of supply and demand) but there are a lot of famous pricing models that do not use demand – or supply – as input and still give good predictions.

PlanB said strict adherence to the overall demand for bitcoin, which does not apply in S2F, is an argument based on “ignorance.”

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