Ripplen’s XRP started 2021 with a negative note as it dropped to a low of $ 0.21 in January. However, the ID successfully retrieved the rest of the encryption and restored $ 1 levels. However, it collapsed again in May and rose in June.
At the time of writing, XRP is trading at $ 0.661 on major exchanges. This is a 2.7% decrease in 24 hours.
XRP price analysis
XRP is currently in the consolidation phase after accumulating significant gains last week. The ID was rejected at a price of $ 0.70, causing a withdrawal to its current level. The withdrawal was due to Bitcoin losses as encryption returned to $ 33,000 and altcoins mimicked the trend.
XRP had retested $ 0.650 resistance levels in the past and managed to rise close to $ 0.67. The symbol’s future resistance is $ 0.685, which it can achieve if the market reverses its current trend. The maximum discharge resistance level of the token is $ 0.70, and above this level the token can prove a falling rally that can advance to an even higher level.
If the downtrend continues at current levels, XRP may retest $ 0.50. Retesting and underestimation of this level may fall more sharply if buyers decide to dispose of their holdings and avoid future losses.
One of the most important things Ripple boasts is its technology. Ripple brings blockchain to payment platforms by enabling cross-border payments. Its technology has recently gained widespread acceptance, bringing the logo closer to achieving low-cost cross-border payments.
The Japanese banking giant recently collaborated with another leading Japanese bank, Hamamatsu Iwata. SBI has been collaborating with Ripple since 2016, and now this partnership is expanding to include Hamamatsu Iwata, who has access to RippleNet low cost transactions.
Another significant development that XRP holders expect is a solution with the SEC. There is no certainty as to whether this will happen or not. However, if that happens, the XRP may be going into a big rebound, and we may be witnessing a big price rally.
Where to buy Ripple
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