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XRP Poised for Upswing, Seems “Unaffected” by Legal Uncertainty

Jamie West by Jamie West
March 8, 2021
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XRP is poised to continue its slow and steady recovery, as the two largest cryptocurrencies in terms of market capitalization also start climbing again.  Bitcoin, Ethereum, and XRP are looking strong as technicals are suggesting a bullish market. However, Ripple’s native coin’s climb is surprising as it seems unaffected by the legal uncertainties it currently faces.

This is because of the lawsuit filed by the United States Securities and Exchange Commission against Ripple and two of its executives after it classified the XRP as a security. However, this doesn’t seem to affect Ripple as much as it continues to expand its services to the East, where there is more regularity clarity for its native crypto coin. 

Caption: The XRP remains unaffected despite the legal battle Ripple Faces

Caption: The XRP remains unaffected despite the legal battle Ripple Faces

Brad Garlinghouse, Ripple CEO, told Reuters that the lawsuit might have hindered their activities within the United States, but this has not affected their plans to expand toward Asia Pacific markets. He concludes his statement by emphasizing that there are still over 200 exchanges worldwide that allow their users to trade XRP, compared to the three or four US-based exchanges that stopped trading the crypto. 

Meanwhile, as Garlinghouse continues to trust the legal stability of Ripple and the XRP, the crypto is also poised for a major bullish impulse. Despite falling by four spots in market capitalization since the litigation started, the XRP seems to have developed an inverse head-to- shoulders pattern on its charts. 

The crypto is expected to break past this patterns, and a spike in buying pressure will allow the XRP to close above $0.66 and could lead to a significant upswing of 74% towards the $1.16 level. 

However, analysis says that failure to do so may result in the coin falling to the $0.39 support level. If XRP falls to this level, the coin’s bullish outlook may be invalidated, and a steep correction to $0.20 may happen.

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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