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XRP Reaches $1.19 and Records Multi-Month High – Targets $1.25

Gaurav Roy by Gaurav Roy
August 15, 2021
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California, USA – XRP boosts by over 17% in the past 24 hours, and it continues to target the price of $1.25. The sudden increase let this cryptocurrency break out of its merging patter in the past few hours.

XRP recorded a multi-month high price after reaching $1.19. It recorded a 128% surge as per the governing chart pattern, and it’s the highest recorded since July 20. The tread retreats where the technical indicator recorded a top signal.

The price was breaking out as per whales. Despite the performance recently, dropping below $1, the price moved past $1 again in the recent 24 hours. The performance was a series of higher lows and lower highs, leading to the symmetrical triangle-formation on its 4-hour chart.

The platform Santiment showed how this digital asset had the necessary buying pressure to gain its upside possibility. According to the supply distribution, there are several addresses with over a million XRP tokens, and these increased by about 4.4%

XRP Reaches 1.19 and Records Multi Month High Targets 1.25
XRP price targets to go further to $1.25 after a 17%-boost

The number of investors supporting Ripple was insignificant at first, but after the whales recorded over $1.17 million, there was a sudden boost in buy orders. As long as the XRP price stays at the support level of $1.14, it will remain in its position. If the price cannot hold over the support level, it might push XRP to the next barrier, which is at $1.05.

This digital asset still has room to push forward to the price of $1.14 once it accomplishes the increasing parallel channel target. It might have its support at the Fibonacci extension level of 50% at $1.10 before it falls to the 38.20% level.  However, the selling pressure might pull the price lower to its mid-boundary, corresponding to the 200 12-hour SMA or Simple Moving Average price of $0.86. On the bright side, if the price met with the buying pressure’s spike, it might put the price target at $1.24.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: alt coinsbullish movecrypto marketcrypto tradingcryptocurrencydigital assetmoving averageresistance levelsupport leveltechnical indicatortrading pricewhales
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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