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XRP Falls and Trades at $1.05 – Analysts Predict It Might Have a Big Move

Gaurav Roy by Gaurav Roy
August 31, 2021
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California, USA – XRP fails to trades at $1.27 in the previous week. Now, it trades at $1.05 but crypto analysts think it might experience a big move in the next days.

XRP has been performing up and down in the past days since August 15. The price struggled to regain its position after reaching $1.50. This crypto couldn’t stay over the purple decreasing trend line. From the trading price of $1.16, it even traded lower at $1.05.

The price rebounded the last weekend, but the crypto can’t break the upper zone at $1.20. It dropped under the 20-day MA or Moving Average as it drops further. On the other hand, analysts think that a breakout is still possible.

As for the XRP/USD pair, the support is at $1.10, and it followed the prices of $1.05, $1.00, and $0.928. The resistance lies at $1.15 for the 20-day MA, and the prices $1.27, $1.36, $1.49, and $1.61 follow it.

The Related Strength Index or RSI stays over the mid-line, indicating a weak bullish trend in the market. There’s a break under the midline, and it might push the crypto under the triangle back to $1.

XRP Falls and Trades at 1.05 Analysts Predict It Might Have a Big Move
XRP tries to recover, but it didn’t succeed in trading at $1.27.

XRP/BTC also continues to trade lower since it reached the 2730 SAT-resistance level. The altcoin found its support at 2290 SAT, where it rebounded. However, XRP didn’t succeed in overcoming the upper zone, and it began to drop further. It tries to stay at the support level around 2300 SAT while the buyers search for a chance for this crypto to break out on the upside.

As a prediction, short-term buyers might push the XRP price back up, but the blue decreasing trend line is too heavy to overcome. Sellers will drive into short positions, and it will try to break over $1.05.

The price might drop to $0.88 where the SMA or Simple Moving Average is 55-day and 200-day. However, buyers might be happier to get the price down to these levels.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: crypto assetcrypto marketcrypto tradercrypto tradingcryptocurrencymarket capitalizationmoving averageresistancesupportthe bullish trendtradertrend line
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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