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XRP Price Recovers Despite the Market-wide Crypto Slump

Jamie West by Jamie West
March 6, 2021
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The XRP’s price has stayed indecisive in the last two weeks after experiencing losses and gains in the last two weeks, with the most recent pulling it well below desirable levels. However, XRP suddenly recovered and flipped its price after getting past resistance levels and finding great support levels as of writing.

This comes despite the plunge that most other major cryptocurrencies in the space are seeing now. XRP managed to record several green candles and continues its uptrend and recovery. However, this has been initiated by bulls for a few days already and has only accelerated on earlier trading hours. 

Coincidentally, Ripple Executives Chris Larsen and Brad Garlinghouse have hit back against the United States Securities and Exchange Commission. Their Attorneys filed a motion to dismiss against the case filed by the US SEC.  Ripple Labs also announced the development of a Private Ledger for central banks based on the XRP Ledger. This “Private Blockchain” is meant to improve the technology central banks currently use significantly. 

Caption: A Crypto analyst claimed that the XRP could dethrone Bitcoin

Caption: A Crypto analyst claimed that the XRP could dethrone Bitcoin

These together may have added to investor’s trust in the XRP and caused its recent surge. However, despite the inconclusiveness of the case against Ripple, the company and its community believe that the case filed by the US SEC may not be strong enough to persevere. 

CryptoBull2020, a crypto analyst, believes that this may sustain the recent price surge and lead to XRP dethroning Bitcoin for the number one spot in the crypto space.

The XRP closed at $0.4 as February ended, but the recent surge pushed the price up by 11% to $0.46 on Friday. As of writing, the coin has stayed in the green and is slowly creeping back up, recording several 0.0% price changes despite other cryptos falling by an average of 3%.

 However, the XRP needs to rise above $0.47 levels and hold on to it before testing the next resistance level. Failure to do so will drag the price back down to $0.45.

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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