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XRP Drops by 10% After a 32.73%-gain – Drop Affects Market Cap

Gaurav Roy by Gaurav Roy
August 13, 2021
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San Francisco, CALIFORNIA – XRP drops at $0.96299 after hitting past $1 in the past 24 hours. The trade range was $0.92538 to $1.04384, and the decrease pushed the market capitalization of XRP down to $8.82939B.

Ripple’s XRP has been doing well in the past seven days after having a total gain of 32.73%, leading the trading price to over $1. However, this crypto fell short (https://www.investing.com/news/cryptocurrency-news/xrp-falls-10-in-bearish-trade-2588624) in the past 24 hours after dropping to $0.96299. The 10%-drop was recorded as the biggest percentage loss in a day.

The drop led the market capitalization or cap to a decrease, 2.43% of the market capitalization of $44.92185B. It may have traded in a range of $0.92538 to $1.04384, but it didn’t make it over $1, which many crypto enthusiasts anticipate.

There was a surge in the price of XRP after Ripple announced the partnership with GME Remittance, breaking the $1 target. The price even went up to $1.10, yet the price rebounded today, decreasing $1.10 to $0.97 despite the performance last week. If buyers break over $1, the first resistance should be $1.10, which was yesterday’s high. Aside from that, the resistance can also increase to $1.21, $1.27, and $1.36. However, if the first support is $0.932, the following prices are $0.88, $0.8282, and $.80.

XRP Drops by 10 After a 32.73 gain Drop Affects Market Cap
XRP drops its trading price along with BTC and ETH in the past 24 hours.

 

XRP has been trading under a long-term drop against BTC or Bitcoin. XRP broke over the descending line, going to the 50-day MA. As it continues to go further 50-day MA, it passed above 2000 SAT.

With the XRP/BTC short-term prediction, the first resistance sits at 2200 SAT in a 100-day MA. 2420 SAT, 2515 SAT, 2670 SAT, and 2800 SAT followed this resistance. On the other hand, if the support is at 2100 SAT, 2000 SAR, 1900 SAT, and 1800 SAT follows it.

Bitcoin traded at $44,419.9, which was down by 4.39%, while Ethereum traded at $3,055.83, having a loss of 6.02%. The market capitalization of Bitcoin was $834.37121B, while Ethereum is $357.52135B.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: altcoinsBitcoincryptocrypto marketcryptocurrencydigital assetEthereumlossmarket capitalizationprice dropresistancestablecoinssupporttrading price
Gaurav Roy

Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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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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