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XRP On-chain Metrics Encourages Investors to Buy Before $1 Upswing

Jamie West by Jamie West
February 25, 2021
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Ripple XRP is experiencing an uptrend following the recent steep dive to $0.35. The loss XRP suffered at the time spread across different levels in the market. The drop broke through several support levels, including the $0.55 and $0.40 markers. Regardless the cross-border token bulls and XRP bulls managed to regain control and are ready for an upswing to $1.00.

The recent drop to $0.35 may have been a blessing in disguise for the token. This allowed more investors to join the market and buy the crypto at a much lower price. The token recovered from the dip and now trades at $0.48. At the same time, XRP bulls are trying to get over the 50-SMA (Simple Moving Average) on the token’s 4-hour chart.

Ripple XRP is gearing up to a reach $1.00 mark

Caption: Ripple XRP is gearing up to a reach $1.00 mark

Once XRP starts trading above the critical levels, it will likely pave the way for the token to gain value above the ascending parallel channel’s middle boundary. Another breakthrough at the $0.55 level is expected to trigger massive buying of the token as it rallies towards the $1.00 level. 

As of writing, the path with the least resistance is upwards. Especially with the RSI (Relative Strength Index) on the 4-hour chart, bouncing off the oversold region, on the chart, and going to the midline, the XRP’s prospects are great. 

Santiment’s MVRV chain-model revealed the Ripple is in the buy zone. This metric measures the profit and loss average and its aggregate activities in the last 30 days and compare its price since the token moved last.

A low MVRV ratio means that investments on the token haven’t moved or are at a loss, which means that selling is unlikely. On the other hand, high MVRV means that traders are more likely to sell. 

However, if the immediate resistance at the 50-SMA on the 4-hour chart remains untouched, the XRP may fail to materialize the expected upswing. And this may hinder the growth of the token and add to the selling pressure.  

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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