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XRP Might Begin a “Moon Mission” – Poises to Hit $0.93

Jamie West by Jamie West
August 12, 2020
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CALIFORNIA, The United States – XRP faces a mixed price action after experiencing an explosive rally last week. The price consolidates at $0.30. This digital asset brawls to escape effects of Ethereum and Bitcoin’s weakness. As per an analyst, this digital asset is in a better position to see a surge going to the $0.93-price level.

XRP had some varied price action in the previous weeks, and it’s after this crypto incurred a fiery rally. The price increased to $0.33 in the recent week, and it consolidated under the support level of $0.30. It resisted gathering more strength.

Experts are noticing that the ongoing alliance phase might calm the storm.

A trader points to a plethora of various factors, suggesting XRP might be on the cusp, which is the beginning of the “moon mission.” Experts didn’t encounter this situation in ages.

Some of the factors include the capability to jump at the 200-day MA or moving average. It occurs to be where the critical horizontal support is, too.

Other expert echoes the sentiment, perceiving that the consolidation of the token is under the resistance level. It’s a bullish signal that proposes a breakout rally is around the corner.

XRP traded over 2% with a price of $0.295. It consolidated throughout the previous several days, having a resistance-level of $0.30. The present region of $0.30 came with significant resistance, and it’s where there’s sharp refusal after the price peaked in the previous week at $0.33.

The trends of XRP might be dependent on Bitcoin, along with the aggregated digital asset market. All major digital currencies are in the consolidation phases.

It might be the result of depositors starting to place a heightened emphasis on smaller digital assets. It has been sharing meteoric earnings during the previous weeks.

The cryptocurrency expert explained that it might experience a “moon” moment because it holds over the 200-day MA or moving average.

As of now, XRP struggles to get away from the effects of the weakness of Ethereum and Bitcoin. The struggle is at breaking over $0.30. It seems that bears established the resistance in this XRP price.

If purchasers do overcome this price level in the close-term, they should kill the resistance, which is sitting at the previous high of $0.32.

An analyst notes that he thinks this digital asset is presently winding up to establish an immense upside move in the following days. The step might send the digital currency to $0.93 in the close-term, as per him. Plus, these have a few vital factors supporting his system.

The trader points out that it’s breaking a downtrend of 950 days, and it can regain with some vital factors because the scenarios that recommend this parabolic move is impending.

Aside from that, XRP also formed a classic healthy pattern while consolidating under the resistance level. One analyst explained that he’s anticipating to witness a looming breakout in the coming days.

If XRP is to witness an essential close-term update, Ethereum and Bitcoin should drive higher, or stay steady around the present price level.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: analystBitcoincrypto assetcryptocurrencydigital assetdigital walletEthereumexpertfactorsincreaseinvestmentinvestorpricerallystrengthtradervirtual assetweakness
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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