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XRP Trades $1.36 After Surging by 11% From an 18%-Drop Last Week

Gaurav Roy by Gaurav Roy
August 20, 2021
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California, USA – XRP price finally increased by 11% at a trading price of $1.36. The resistance trades at an ascending price while the support targets a lower angle.

XRP might have experienced a drop of 18% in the past weekend under the Fib Extension of 1.618. Even though there was a retracement, this crypto is still up by 11% after increasing from $1.00. Now, it trades inside an increasing price channel, attempting the support at a lower range. If there’s a break under the price channel, the price might head back to $1.

As for the XRP/USD pair, if the price breaks $1.10, the first support is at $1.00, and it’s followed by $0.928, $0.8282 and $0.75. On the other hand, the resistance is at $1.25, and it’s followed by $1.36, $1.40, and $1.50. Moreover, the daily RSI or Relative Strength Index dropped from overbought conditions, recording the fade of strong momentum. On the other hand, the bears can still control the moment if it’s over the midline.

XRP Trades 1.36 After Surging by 11 From an 18 Drop Last Week
XRP trades over $1, and it continues to climb back to its all-time high.

XRP retraced against Bitcoin (BTC) after having a resistance level of 2730 SAT under the 1.618 Fib Extension. XRP dropped below 2600 SAT, and it continued to drop until the support was at 2780 SAT. Now, it attempts to climb over 2600 SAT.

The prediction for XRP/BTC is that the first support sits at 2380 SAT, followed by 2200 SAT, 2100 SAT and 2000 SAT. The first resistance lies at 2600 SAT, 2730 SAT, 2915 SAT, and 3000 SAT. As for the daily RSI, it’s dropping, and it’s showing that the bullish momentum is fading.

On another note, analysts anticipate the happenings on August 31 and October 15 as this crypto might reach its turning points.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: altcoinBTCcrypto marketcrypto tradercrypto tradingcryptocurrencydigital assetmarket capitalizationprice channelresistance levelsupport level
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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