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XRP Trades at $1.15 – Ripple’s Case Holds the Price for BITSTAMP

Gaurav Roy by Gaurav Roy
August 29, 2021
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California, USA – XRP trades at $1.15 in the past 24 hours. Analysts state it could’ve done better with its development this year. Moreover, the ongoing case of Ripple and SEC holds the price for BITSTAMP:XRP/USD.

The trading price of XRP is at $1.15, but many experts think the price should’ve done better since Ripple has been busy with the company’s development through a new partnership. The reason why it’s not performing well enough is because of the legal battle that the company faces with SEC or Securities and Exchange Commission. This case lacked ample coverage from the media regarding the development of the project of the company.

Another reason why XRP didn’t perform well is because of the ongoing sales of Jed McCaleb. He’s been selling his XRP coins, which affects the performance of the crypto in the market. McCaleb was the previous CTO of Ripple, and he got $20 billion worth of XRP.

According to an analysis of an expert, if XRP is trading at around $1.15, the bears appear to push the price down until it reaches the support line at 1.09812. This first scenario was when bulls win the fight against the bears to push the price up. It’s able to push the price up, and it lies at the resistance level of 1.23804.

The second scenario of the analysis is when the bulls take control over the market. The price will move to the resistance level, which is at $1.23804. This part is where the bears test bulls’ power, and they will take over the market to let it go down to the support zone between 1.00484 and 0.95820.

XRP Trades at 1.15 Ripple s Case Holds the Price for BITSTAMP
XRP continues to climb back to a higher trading price as Ripple focuses on developments.

The technical indicators display that the market is under the 5 and 10 EMA under the Bearish short-term movement. However, it moves over the 20, 50, 100, and 200 MA and EMA. The RSI or Relative Strength Index is at 55.84, which gives us a purchasing signal, and it might go further into the overbought zone.

On another note, Ripple announced its plan to include a small contract option to XRPL.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: altcoinanalystscoveragecrypto marketcrypto tradercrypto tradingcryptocurrencydigital assetpartnershipperformanceresistanceSECsupport
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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