Ripple

XRP Fails to Retain at $1.20 – Gets Involved in Hacking Incident

California, USA – XRP didn’t succeed in retaining the price at $1.20 and analysts anticipate a retracement despite the 140%-boost this month. This crypto gets involved in a hacking incident with BTC.

XRP price got stuck on the previous day after the four-month downtrend line. It had a bullish push close to the trading price of $1.35 in the past week, yet it didn’t hit the breakout corner. The performance of this crypto still struggled even though BTC experienced a steady performance. On another note, it might catch up beyond $1.30, and with the ongoing case between Ripple and US SEC or Securities and Exchange Commission, the price didn’t decrease further below $0.50.

XRP has been boosting since it reached the trading price of $0.50, and the trend lines in the previous month supported this crypto. Now, it attempts to break out of the four-month downtrend performance.

There’s a big resistance zone and the trend where it found its place between $1.28 and $1.37. The price should break to have a boost past the price of $.140. Traders might witness this crypto in between $1.50 and $1.70 if the bulls manage the breakout.

This crypto has been over its minor support of $1.19 in the past 48 hours. Traders can expect a short-term downtrend if the bears push the XRP price over the mark. The next bounce for this crypto is at the bottom of the channel unless it succeeds in staying in its place. The price then will be between $1.00 and $1.10.

XRP Fails to Retain at 1.20 Gets Involved in Hacking Incident
Hackers stole 11.5 million XRP and transferred it to a centralized exchange.

On another note, XRP has been involved in hacking incident. Hackers stole a portion of TRON worth 3.5 million TRX, where instead of being transferred to Huobi, the transferred TRX amounting to $ 321,000 went to another wallet. After that, hackers transferred another 11.5 million XRP worth $14.5 million to Huobi and Poloniex, which are centralized exchanges. Binance confirmed that the stolen XRP ended up on the hacker’s wallet from Liquid, and they are currently investigating the issue.

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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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