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XRP Price Dips and Recovers yet It Might Drop to $0.2700

Jamie West by Jamie West
August 29, 2020
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CALIFORNIA, San Francisco – XRP price encountered a bullish pullback in the previous days. It decreased by 5%, where it traded at $0.265. However, the cost of XRP dropped after breaking the support level of $0.2700 against the United States dollar or the USD. It recuperates, yet it might drop close to the price level of $0.2700.

XRP encountered a bullish pullback in recent days after it boosted in the. This digital asset decreased by 5% in the previous 24 hours. After that, it traded at $0.265, under the essential technical resistances in the close-term.

As per the Tom Demark Sequential, the digital asset will witness a setback to the advantage. The technical signal previously established a “buy 9” candle on every TD Sequential. It proposes prices that will move to higher from its levels.

Aside from this, there’s also another technical indicator recommending XRP will move upper. Blockfyre’s technical analysis’ head, a digital asset research company, previously stated that XRP still consolidates around the price. It’s anticipating the movement is in the subsequent months.

On-chain indicators also suggest that Ripple’s XRP will stay at high estimates. Despite the retracement, the active address output is witnessing a retaining price.

As for Bitcoin, it might end up uttering the directionality of XRP, while macro market trends command the digital asset market. Experts stay positive on BTC regardless of the previous weakness, which ended in the price action of $11,150.

Tony Spiltoro from NewsBTC displayed a chart on Thursday. It demonstrates that Bitcoin established a Tom Demark Sequential candle of “buy 9.” These are frequent when the digital asset is ready to converse to the other side. Bitcoin’s surge is probable to transport XRP because it links to the crypto market.

The XRP price dropped after it halted to the support level of $0.2700, and it’s against the United States dollar or USD. Ethereum and Bitcoin stayed over the lows per weekly. The price of XRP recovers, yet it might drop close to the cost of $0.2700.

It’s the main reason why this blockchain company might drop abruptly under the price of $0.2700. The XRP price didn’t succeed in breaking the resistance price of $0.2840. It’s resulting in a drop under the price of $0.2720 and $0.2700.

The XRP price dropped over the 4% rate, and it broke the support level of $).2650. It exchanged to a recently low price of $0.2537. It’s presently improving higher, and there’s a halt over the resistance level of $0.2600. The Fib retracement of 23.6% drops from the price of $).2811 to $0.2537.

The bulls are presently encountering a resistance level that’s close to the $0.2675-price level. The 50% exchanged to a price of $0.2537, which was a weekly low. It’s presently facing a recovery, which is the resistance level.

There’s a significant bearish line establishing the resistance level of $0.2705, which is on the four-hour of XRP/USD. It appears that the past resistance zone is close to the price of $0.2700, and it functions as a bullish trading zone.

Ripple might recover to the resistance level of $0.2800 if there’s an upside over the line. The succeeding resistance is close to the SMA of 100, and the price is at $0.2880.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: Bitcoinbullishcrypto assetcryptocurrencydigital assetdollarEthereuminvestmentinvestormomentumprice levelresistancesupport leveltechnicalUnited States
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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