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XRP Encounters a Rare Occurrence After Trading Over Its $1-Price

Gaurav Roy by Gaurav Roy
August 16, 2021
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California, USA – XRP closes in higher than the king of crypto, Bitcoin (BTC), and analysts consider it as a rare phenomenon. The weekly gain was 60%, increasing beyond $1.30.

XRP experienced a rally in the past few days, yet the fall shook traders as it became why the price consecutively pulled back. XRP traded at $3.31 when Ripple introduced it in the crypto market, but it continuously went lower until it reached a trading price lower than $1. Now, this digital asset continues to bounce back after hitting a target price of $1.30.

Many XRP traders were happy after reclaiming the mark in 10 weeks, which is the first time for this cryptocurrency. Aside from that, the rally also showed how the trading price got back from an 80%-drop in the past cycle. Also, it took a while since XRP was able to return to its overbought zone, which was since April.

At first, reaching the target price of over $1 was impossible because of the ongoing case between Ripple and SEC. Many traders thought the improbability of the price to reach past $1. Now, it hits this mark, and the ongoing question is whether this cryptocurrency can stay at its mark.

XRP Encounters a Rare Occurrence After Trading Over Its 1 Price
XRP gains 8.89%, pushing the price to $1.30 while BTC recorded a 3%-loss

On another note, Bitcoin (BTC) showed a different performance, losing $2,000 in hours, as XRP increased by 60% in one week. This impressive gain compared to BTC was also why this digital asset is facing a rare occurrence.

Aside from BTC, Ethereum (ETH) also recorded a 3.03%-drop, while Litecoin (LTC) recorded a 2.05%-drop. Joining XRP as gainers are Waves gained 17%, and THORchain gained 12%.

Despite the gains in the previous weeks, XRP is still down 69.98% from its all-time high price.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: ATHBTCcrypto marketcrypto tradingcryptocurrencydigital assetgovernmentlawsuitoverboughtoversoldrallyresistance zoneSECSMAsupport zone
Gaurav Roy

Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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