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XRP Forms a Bullish Flag and Jumps Over a $40 Billion Market Cap

Gaurav Roy by Gaurav Roy
August 12, 2021
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San Francisco, CALIFORNIA – Ripple’s XRP forms a bullish flag, and the flag pattern’s breakout happened during the weekend, having a resistance over $0.781.

After retracing from a 200-day resistance over the weekend, Ripple’s XRP breaks bullish. The breakout let it move over the resistance of $0.781, which climbs over the all-time high price of July.

Aside from that, it targets to go over $0.8282, and if it closes over $0.8282, analysts expect the resistance to go over $0.89. After hitting this target resistance price, the following price is $1, $1.12, and $1.25. On the other hand, the first support is at $0.80, followed by $0.78, $0.70, and $0.65.

On another note, XRP had some challenges breaking a long-term increasing trend line against BTC or Bitcoin in the past fortnight. Today, this digital asset moved over the long-term decreasing trend line.

With XRP’s performance in the past few weeks, the market capitalization jumped over $40 billion as per Coinmarketcap. Ripple’s partnerships with various institutions or companies continue to build its brand despite having a lawsuit from US SEC or Security Exchange Commission.

On Wednesday, August 11, GME Remittance or Global Money Express declared that it’s joining RippleNet, a global funding network of Ripple. Ripple stated that this partnership would boost the adoption of the platform in Asia.

XRP Forms a Bullish Flag and Jumps Over a 40 Billion Market Cap
Ripple became partners with GME Remittance this week for RippleNet.

As per the Director and COO at GME, Subash Chandra Poudel, the company chose Ripple because of the possibility of RippleNet being introduced to new countries in one to two weeks. This platform will lessen the time to market the product, giving them an edge against their competitors.

Aside from this partnership, Ripple and SBI Remit also collaborated, along with Coins.ph, where RippleNet will introduce its first live ODL or On-Demand Liquidity service. These partnerships will boost the adoption of RippleNet and XRP. Also, according to the XRP Report, there was a surge of demand in XRP in its first three months of 2021.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: Asiabullscryptocurrencydigital assetincreaseJapanmarketmarket capitalizationpartnershipremittancesresistance pricetarget
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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