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Ripple

Ripple : Don’t Miss the Opportunity to Buy Ripple … Here’s Why!

The crypto market has finally started an upward movement. Many cryptocurrencies have already gained 50%. But Ripple has not yet exploded, its price is below the strong resistance of 40 cents. We’ll talk about the potential of Ripple in this article.

What is Ripple XRP?

The digital currency known as XRP on the XRP ledger gives financial service providers instant liquidity. It also functions as a “bridge money,” making cross-border transactions simpler.  At the current price, the transaction fee for XRP is 0.00001 XRP, or 10 drops, or less than a cent. Payment businesses may utilize XRP to get into niche markets, get payments settled more quickly, and save money on currency exchange. An international, independent community oversees the open-source XRP ledger, which Ripple is a part of.

Is XRP Ending its previous Consolidation?

The XRP price crashed hard with the crypto market. Its prices consolidated around important price areas during its downtrend. The last 2 consolidations were first between $0.38 and $0.40 while the second was wider, between $0.30 and $0.38.  In figure 1 below, we can clearly see how prices started the lat consolidation phase when they broke the $0.38 price mark.

Now that the market is picking up again, XRP prices increased from $0.30 and reached a current price of $0.36. This made more than 20% in the past 2 weeks. However, there is plenty of room for growth as other alts saw more than 50% increases such as MATIC.

Ripple
XRP 4H CHART (FROM COINMARKETCAP)

The future of XRP Price

Now that the market is going higher, XRP should be able to break the resistance price of $0.38. Once done, and if prices continue to breach the $0.40 price, XRP is expected to grow to reach the first target of $0.60. This target is important as back in February 2022, this area represented a strong support.

RELATED: Cryptocurrencies Continues to Spread In LATAM and EMEA countries

The other case scenario would be that XRP fails to break the $0.40 price mark. In this case, we might see prices fall back towards the $0.34 price mark. However, with the current crypto market dynamics, this case scenario is not likely.

Ripple

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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