https://www.forex-news.com/
Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
, The price of XRP starts the week with a strong rise, what happened to Ripple?, Forex-News, Forex-News
Bitcoin
$56,888.26
+1037.78
Ethereum
$2,245.37
+53.01
Litecoin
$275.86
+13.58
DigitalCash
$321.26
+14.75
Monero
$342.92
+17.02
Nxt
$0.08
+0.01
Ethereum Classic
$37.67
-1.95
Dogecoin
$0.34
+0.07

The price of XRP starts the week with a strong rise, what happened to Ripple?

5
, The price of XRP starts the week with a strong rise, what happened to Ripple?, Forex-News, Forex-News


, The price of XRP starts the week with a strong rise, what happened to Ripple?, Forex-News, Forex-News

Ripple (XRP) has just climbed back to No. 4 on the top of the crypto market, after its price increased volatility during the last hours.

At the time of this writing XRP is trading at $ 0.9416, accumulating a gain of 31.35% in the last 24 hours and 60.62% in the last 7 days.

Without a doubt, it is one of the cryptocurrencies that has been performing the best, but how is this possible? Here’s a situational analysis to find out.

Adoption removes negativism around Ripple

XRP took a really worrying drop in December last year, after the United States Securities Commission filed a lawsuit against Ripple Labs and its board of directors.

Despite this, after the rapid crash, the price has been continuously recovering; and by the time of this writing all those losses have been eliminated.

It seems that the financial services offered by Ripple have managed to remove the pessimistic force around the project. The services it offers have been used by relevant financial institutions such as Banco Santander.

There are now rumors that the network is being scrutinized by the central banks of France and Australia, in what may be an attempt to develop CBDCs with the service that Ripple hopes to offer very soon.

XRP price technical analysis after sharp rise

From the daily chart we can see how even though the short-term trend was bullish, it wasn’t until yesterday that the bulls really made their mark.

Now this direction was reaffirmed. For this reason we should expect the price to continue to set higher and higher lows and highs in the near future.

We are currently seeing fairly developed short-term momentum. The developing candle is already showing some bullish exhaustion. This may be making way for a small correction before moving up further.

, The price of XRP starts the week with a strong rise, what happened to Ripple?, Forex-News, Forex-News
The daily chart of the price of XRP shows a sharp rise. Source: TradingView.

Long-term trend could drive price much higher

Despite the fact that we saw this cryptocurrency in serious trouble at the end of last year, the price never gave too negative signals, and the historical uptrend remained intact.

Now with the recent jump we are seeing a resumption of that big trend, thanks to the break of immediate resistance at $ 0.66472.

If nothing out of the ordinary happens, the price of XRP should continue to climb in the near future, probably looking to challenge the neighboring all-time high of $ 1.99.

, The price of XRP starts the week with a strong rise, what happened to Ripple?, Forex-News, Forex-News
Monthly chart of Ripple vs US Dollar. Source: TradingView.

All our publications are informative in nature, so in no case should they be followed as investment advice.



, The price of XRP starts the week with a strong rise, what happened to Ripple?, Forex-News, Forex-News

Get real time updates directly on you device, subscribe now.

, The price of XRP starts the week with a strong rise, what happened to Ripple?, Forex-News, Forex-News

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More