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Ripple XRP at Risk of Huge Drop, Bulls Have Plenty of Work to Do

Jamie West by Jamie West
February 27, 2021
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XRP had a wild month. It experienced a ton of volatility because of the sudden price pumps orchestrated by the WallStreetBets subreddit and the developments with the lawsuit filed by the United States Securities Exchange Commission (US SEC). 

The digital asset has been going up and down in the past few days and still remains quite volatile. However, the number of whales are at a downtrend even at the lower points of the coin’s price, which may indicate that larger investors are not interested in the coin at this time.

XRP is at risk as bulls attempt to save it

Caption: XRP is at risk as bulls attempt to save it

Moreover, on the 3-day chart for XRP, the TD sequential indicator presented a sell signal last week as the coin goes through a significant bearish run continuing down to $0.45. The last sell signal for the coin was seen in November 2020, and its price dropped by more than 70% within the month. 

The number of whales who hold over 10 million coins has decreased in the last month. The number of whales did not increase even as the coin reaches new lows for the month of February. Regardless, the bulls still look at a 50% mean revision of the daily candle.

The XRP bulls are stepping from the post-Reverse Bank induced lows as the pound continues to be the best performing G7 currency in 2021. The XRP’s daily chart’s bearish impulse has also peaked, and the bulls are correcting this move.

The chart shows that there is a confluence of the old support structure for the coin that meets the 50% mean reversion of the impulse, which is the current target.

Regardless, the bulls have plenty of work ahead of them, and a slow and steady upwards grind will be necessary to turn the charts bullish again before the coin can recover its previous market capitalization.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: cryptocurrency newsripple news todayRipple pricexrp news predictionxrp news todayXRP price
Jamie West

Jamie West

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

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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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