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XRP Faces a Bull Run – XRP Users Lose 940,000 to YT Scammers

Jamie West by Jamie West
August 20, 2020
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CALIFORNIA, The United States – Spectators have been waiting for the rally for XRP, and it’s already here. XRP is confident to face a bullish rally. It can hit until $0.40. Despite the rally, affected XRP users encounter scammers, losing 940,000 XRP via YouTube.

The long wait is over for the bull market because XRP is finally going to encounter a rally. As per a digital asset analyst, Credible Crypto, this cryptocurrency by Ripple is ready for a bullish rally.

Credit Crypto is also a trader, and this expert has 63,000 followers on Twitter. With a tweet, this analyst informed everyone about the probable bullish increase of XRP.

AS per the chart of Credible Crypto, XRP can increase up to $0.40, signifying a boost above 25% from the present $0.318-price level. Aside from this trader, another expert witnessed the strong chance of the digital asset, which depositors called “The Standard.” Pentoshi, a trader, shares information to his 26,000 followers that this digital asset left the bear zone.

According to Pentoshi, XRP price had an increased weekly, and it was since the market began a more bullish price. It was the first time it encountered the said movement in 959 days. The reclaimed $0.30-price level became the resistance back in the year 2017. It had support in the year 2018, where it reclaimed. He also stated that it has to be the beginning of the bull run.

As per the chart of Pentoshi, the immediate goal of XRP seems to be $0.4755. If it breaks to the stated level, the following resistance level is at $0.9316.

The expectation on the bull market of XRP arrives as the digital asset copes to the nobles when it comes to performance. The third-biggest digital asset in the previous rally is up to 65%, which is a year-to-date. As for Bitcoin, it earned over 70%, while Ethereum developed over 430% over the same stretch.

The strong chance of XRP doesn’t convince all experts. Peter Brandt, the Veteran trader, stated that he’s cautious of the digital asset. He thinks the ownership of Ripple is over half of its XRP supply, which is a probable liability.

On the other hand, it’s a piece of bad news for some XRP users because XRPlorer unveiled that scammers could steal 940,000 XRP altcoins from Coinbase users. These scammers utilized YouTube, a social media platform, and the scam was about “giveaways.” The XRP amount is over $20,000.

As per Thomas Silkjaer, users of Coinbase sent XRP to false digital asset giveaway-programs via YouTube. These users lost almost a hundred thousand of the digital asset by taking part in the fraud giveaways.

Silkjaer advised Coinbase to begin cautioning users in withdrawing their funds because they can be might be transferring their funds to fake accounts. They might think that they’re participating in a program that Ripple set, or the CEO, Brad Garlinghouse.

CryptoGlobe stated that scammers use YouTube to run its operations. They utilize old live streams, which come from significant figures in the digital asset space. They also add a fraud giveaway to users to pretend, so Coinbase users think it’s legit.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: analystanalystsbullishcrypto assetcryptocurrencydigital assetdigital walletdollarsfake accountfollowersgiveawaysinformationprice levelscammerstraderTwitterYouTube
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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