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XRP Price to Merge in a Desolate Move – Active Wallets Stay High

Jamie West by Jamie West
August 26, 2020
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SAN FRANCISCO, California –Ripple’s XRP price witnessed drop by 8% in the previous week, and it reached $0.287. The altcoin is presently exchanging with a dropping price network, while the price bounced back from the lower side. There are bullish indicators for this digital asset because active wallets’ productivity stays in elevation.

The XRP price previously increased to a resistance level of $0.335 up to a six-month high. It might be a bullish action in the short term, yet the traders immediately drove the XRP price under or closer to the everyday-candle price, which is under $0.32 and turned the status to a red flag. This digital asset was lower during the previous week, and it re-entered the dropping price station, which is displaying in the chart below.

The XRP price rebounded on Saturday, coming from the underneath part of the dropping channel, which was at $0.271. In the previous hours, the bulls pressed it to the present state, which is at $0.287, and it begins to eyeball at the resistance level of $0.30.

The initial resistance level was at $0.30, and the boost was up to the stated dropping price channel. The resistance level is at $0.313, with a Fib Extension of 1.424, $0.321, which is under a Fib Retracement of 0.886. It also includes $0.331, under the Fib Extension of 1.618.

The initial support level of the XRP price was at $0.28, and it succeeded a support level of $0.264, which is a part of the area of the decreasing price channel. Underneath the price of $0.26, the additional support level was at $0.246, or a Fib Retracement of 0.5.

The Relative Strength Index or RSI is under the middle-trend, yet it appears that the bulls attempt to control the impetus, pushing the RSI back over 50. The Stochastic RSI experienced a bullish crossover indicator previously, and it promised a reliable indicator.

As for the XRP/BTC pair, the XRP price decreased under the support level of 200-days EMA, and it was last week. As the price drop under the support level of 2435 SAT or a Fib Retracement of 0.382, it will hit a lower SAT, 2400. The purchasers reformed to drive the price of XRP back to the SAT of 2435 as it tries to hit the 200-days EMA.

The XRP.BTC pair might have a resistance that settled at the SAT of 2569, followed by the SAT of 2630, 2333, a Fib Retracement of .5, and 2230 SAT, which has a .618 Fib Retracement.

The price of XRP increased, coming from 18 cents to 30 cents in a few weeks. Santiment Research Company shared a data, displaying that that active address output listed for the third-biggest by market capitalization stayed high.

The price was at $0.286194, and the exchanging volume is at $1,817 billion. The amount of XRP went up by 0.4% in the previous 24 hours. It has a mingling supply of altcoins worth 45 billion, and the supply has a maximum of 100 billion. The information was as per Coingecko.

Like the rest of the digital assets, XRP has a long way before it climbs to its 2018 highs. Now, it fights to remain over the price of $0.30.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: BitcoinBTCcandlecrypto assetcryptocurrencydigital assetdigital walletdropexchanginginvestmentinvestorprice dropprice levelresistance levelsupport leveltradersUSDusers
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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