• Home
  • Ripple
  • XRP
  • Contact Us
XRP News
No Result
View All Result
XRP News
No Result
View All Result

Ripple Chair Transfers 500M XRP – Price to Stay Covered

Jamie West by Jamie West
September 23, 2020
Home News
Share on FacebookShare on Twitter

SAN FRANCISCO, California – Ripple drops 5%, breaking the support area of $0.2380 over the United States or the US dollar. The XRP price is presently combining upsides and losses, which might stay capped.

Ripple began a significant drop under the support levels of $0.2440 and $0.2380 over the USD. It began a new drop after it didn’t succeed in clearing the resistance level of $0.2500. It stopped at the support levels of $0.2440 and $0.2420 to move to a bearish area.

The drop earned pace under the significant channel with a support level close to $0.2415 on the XRP/USD pair. It’s exchanging under the SMA or simple moving average of 100-hourly.

There’s a new low established close to the price level of $0.2293, and the XRP price is combining losses. It appears that Ripple is fronting hurdles close to the $0.2335 level, yet the Fib retracement level of 23.6% was from the $0.2477 to $0.2293.

There’s a significant contracting triangle established with the resistance level close to $0.2335, which is on the same chart by Trading View. There’s a clear halt over the resistance level that might direct the XRP price to the $0.2380.

The Fib retracement level of 50% from the previous drop, from the high of $0.2477 to $0.2293, is close to the price level of $0.2385. It aims to function as resistance. It’s moving to the pivot level of $0.2440.

There are probabilities of further losses if Ripple doesn’t succeed in clearing the resistance levels at $0.2335 and $0.2380. The primary support is close to the area of $0.2300.

The primary support is establishing close to the price level of $0.2280, where the clear halt under the previous low is $0.2280. It might open the gates to further move to the price level of $0.2200.

On another note, the chairman and co-founder of Ripple, Chris Larsen, moved 499,999.979 XRP to an anonymous wallet, which amounted to 115,847,491 USD. The information was as per Whale Alert.

Larsen reached on the transfer via his Twitter account, and he unveiled the anonymous wallet after transferring the big amount of XRP. As per the chairman, he moved it to NYDIG.

Larsen stated that he knows the founders of NYDIG, and he expressed how impressed he is with the institutional standards and security, which is a custody 2.0.

NYDIG offers cryptocurrency services to depositors around the world. The custody platform. The purpose of this platform is to provide satisfaction to the highest controlling audit and controlling standards. The team of NYDIG composes of pros with experience in technology, cryptocurrencies, and capital markets.

Ripple plays two roles, which is a currency and a settlement platform. It’s an open-source scheme that’s established to let cheap and immediate transactions.

Bitcoin, Ripple’s rival, never plans to be a meek settlement payment. It earned the courtesy of significant international banks, including Standard Chartered and Barclays, for global transactions.

Mitsubishi UFJ Financial Group, a Japan-based company, has an asset over $2.8 trillion, which the company declared in November 2018. It’s cooperating with Ripple to provide a global money remittance service from Japan to Brazil.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: Bitcoincrypto assetcryptocurrencydigital assetdigital walletdollardropEthereumexchangeinvestmentinvestorprice levelresistancesupportTwitterunknownUSAwallet
Jamie West

Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

Next Post
Ripple Displays a Price Drop – Larsen Moves XRP to an Anon Wallet

Ripple Displays a Price Drop – Larsen Moves XRP to an Anon Wallet

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest News

  • XRP Price Maintains Rally Hopes as DOGE Breaks Down March 6, 2025
  • XRP price to $18K? — One crypto ‘research’ group says it’s possible March 6, 2025
  • Research Group Predicts XRP at $18K—Too Good to Be True? March 6, 2025
  • Blockchain Investigator Finds 2.7B XRP in Dormant Wallets—Tied to Ripple Co-Founder? March 6, 2025
  • XRP Price Watch: XRP Holds Steady, But Is a Big Move Coming? March 6, 2025

Chat with our XRP expert!

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.

  • Home
  • Ripple
  • XRP
  • Contact Us

2023, XRPNews.com

No Result
View All Result
  • Contact Us
  • HTML Sitemap

2023, XRPNews.com