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Ripple XRP’s Possible Recovery Remain Intriguing, Says Analysis

Jamie West by Jamie West
March 14, 2021
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Ripple’s native coin XRP has failed to break the barrier $0.50 and move past it to develop an upside momentum. Despite multiple tries in the past few days, the cryptocurrency has repeatedly failed to get past this target and bounced back and forth to the $0.45 range. Regardless, analysts are still intrigued by the XRP.

XRP/USD traders almost reached the $0.50 resistance level as the market opened. However, they failed to hold the ground, and the price of the token quickly fell back to $0.45. 

Despite this failure, the community still sees this as a plus as the Ripple XRP has stayed mostly unchanged in both since the beginning of the day and on a day-to-day basis. Amidst numerous lawsuits from the United States Securities and Exchange Commission and uncertainties on its classification, remaining at this range is the best the community could hope for.

Caption: Ripple XRP remains at desirable levels amidst uncertainties and lawsuits

Caption: Ripple XRP remains at desirable levels amidst uncertainties and lawsuits

Analysts, however, have speculated that the XRP’s recovery towards $0.50 is intriguing. An initial break past this barrier could significantly propel the price of the coin. They noted that the crypto’s daily high of $0.48, once passed, could be the only hurdle keeping it at this level. 

However, the short-term trend remains with the XRP bulls with the technical indicator’s support where the RSI (14) is nearing above the 50-level. This builds consistency for the recently observed recovery from its crash a few months ago. 

The analysis also says that a break past $0.55 and $0.60 levels will push XRP’s price over $0.65. On the other hand, if it fails to push above these resistances, it might break below the channel and lead towards the supports at $0.35, $0.30, and $0.25, respectively. 

Against Bitcoin, the pair is consolidating on the downside and is moving below the 9-day and 21-day averages. However, the bulls from this trading pair have failed to push the price above moving averages.

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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