- Ripple has had several activities, SEC case affecting the movements by the global funds transfer blockchain solution.
- Most people know Ripple due to its innovative cryptocurrency approach.
- The blockchain network plans to unveil ‘smart contracts.’
- XRP has received massive support from its community.
XRP joined the crypto space in 2012 as a blockchain project designed to enhance and facilitate cross-border payments. As much as the traditional system helped economic advancements, the payment system had limitations, thus an innovative transaction solution, XRP.
Ripple is the firm behind the marketing and development of XRP. The company creates a solution for international money transfers. That would improve the ability of the financial institutions to expand their global reach.
What Affects XRP Price?
Ripple developers aimed to launch a Bitcoin alternative. XRP somehow achieved the dream, challenging ETH for the 2nd rank in 2017-2018. The increased interest in international payments solutions has promoted XRP upticks.
While writing this, XRP trades at $1.15. However, the asset had the potential to climb at higher price levels. Two factors contribute to the token’s ‘slowed’ growth. Firstly, it is the SEC lawsuit that reduced Ripple’s media coverage. Another thing is the Jed McCaleb continuous XRP sale.
Recent and Future Events
Ripple Company has ensured innovativeness since launching XRP. For instance, the MoneyGram partnership. MoneyGram uses XRP financial solutions in decision-making. In 2021, Ripple has targeted the Asian region – the remittance deal in Japan. For now, the crypto network plans to integrate XRPL, a smart contract functionality.
Ripple Technical Analysis
XRP experienced price corrections in July. The ugly moves saw the coin dipping to the $0.5179 lows on 20 July. However, the asset revived its momentum, rising by a whopping 160% in the following 26 days. On 15 August, the crypto managed to attain $1.35 peaks.
XRP 4-H Chart
According to the XRP 4H hour chart, the token prints mixed actions. After multiple trials to overcome $1.200, success will see XRP retesting $1.3 high. Such developments will have the crypto rising to $1.3950 before plunging.
However, closing beneath $1.1000 might see XRP heading to the 200-d MA at $0.8080. XRP trades at $1.15, ranking six (Coinmarketcap) as its market cap stands at 52,190,220,192.
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