Ripple (XRP) Continues Positive Moves, Added Over 12% In A Week

2022-10-6 03:51

Ripple (XRP) has been steadily climbing, adding over 12.50% in the past seven days. This is despite its ongoing case with the SEC coupled with the overall bearish market sentiments. 

The bulls have managed to keep the XRP token flying high above $0.48 and are edging to break through its $0.50 resistance. XRP experienced a rocky start last week Wednesday, falling below its $0.44 floor price. However, the coin quickly gained momentum the next day, adding over 13% gains before the end of the trading day.

Related Reading: Low Volatility Crypto Market Supplies Surprisingly Stable State Of Fear

Ripple Closed Its Best Month In 2022

September was a good month for Ripple as it closed out the best month since the beginning of the year. In the previous week, XRP’s price on the weekly chart approached a significant resistance level at $0.56. However, it was unsuccessful in breaking through that level. 

This resistance is a combination of the yellow rising line and the horizontal barrier seen in red. By the way, a weekly red candle following several consecutive green candles is not uncommon by any means. 

XRP retested the $0.56 level again on the 29th but couldn’t sustain it. It finally closed the month with a $0.49 high. Upward momentum is anticipated once the price of the asset breaks and sustains a closing above $0.56.  We might see this soon enough unless it drops below the $0.4 support level. 

XRP’s price is currently trading at $0.4929. | Source: XRPUSD price chart from TradingView.com XRP Holds Its End Against BTC

XRP’s over 12% weekly gain isn’t the only thing that caught our attention. The asset also held its end against Bitcoin (BTC). Although the XRP/USD exchange rate is down 0.5%, it is up 1.5% to 3% against BTC. In comparison to Bitcoin, the XRP price has increased by more than 50% over the previous three weeks. This puts XRP at levels not seen since the summer of 2021.

XRP price movement might have several causes. Of course, the primary driver is the SEC’s legal battle with Ripple, which seeks to recognize XRP as a security. Recent events seem to favor XRP and Ripple, but the final verdict is not yet out.

The second, less obvious explanation may be today’s announcement about SWIFT and CBDC tests. SWIFT successfully tested several technologies with CBDC. Financial institutions from France and Germany, including their central banks and commercial counterparts, participated in the experiments. They explored using CBDC worldwide and converting it to fiat if needed.

What Next For Ripple

Ripple is currently trading at $0.4928 and is set to retest the $0.50 resistance floor. As long as buyers outnumber sellers, this uptrend is likely to continue. However, if the price reaches a critical level of $0.44, bears may come in as they did on September 23.

Related Reading: XRP Price Could Get A 23% Boost From This Bullish Formation Breakout

The 12% weekly gain demonstrates that buyers are dedicated to taking XRP over $0.50 and $0.55. Achieving this goal will pave the way for the token to go to $0.70 soon.

Featured image from Pixabay and chart from TradingView.com

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Ripple (XRP) на Currencies.ru

$ 2.2158 (-0.21%)
Объем 24H $11.678b
Изменеия 24h: -1.81 %, 7d: -8.42 %
Cегодня L: $2.1858 - H: $2.2889
Капитализация $126.862b Rank 4
Цена в час новости $ 0.4943 (348.27%)

xrp ripple case market bearish coupled sec

Источник: newsbtc.com

xrp ripple → Результатов: 126


Фото:

Ripple предупредила о росте числа криптомошенничеств на фоне бычьего ралли XRP

Компания Ripple предупредила подписчиков в соцсети Х о массовых случаях фишинга и мошенничества на фоне роста крипторынка, в частности, криптоактива XRP.

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XRP выросла на 20% после встречи гендиректора Ripple с Трампом

Американское издание FOX Business сообщило, что генеральный директор Ripple Брэд Гарлингхаус встретился с избранным президентом США Дональдом Трампом. На фоне этой новости криптовалюта XRP выросла на 20% — до $0,9842.

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Сколько XRP у Ripple? Компания раскрыла свои резервы

Недавно Ripple опубликовала отчет по XRP за четвертый квартал 2024 года, в котором поделилась, сколько именно XRP у нее на счетах. Судя по отчету, Ripple держит запасы в двух «карманах»: Свободный XRP — токены, которые у компании прямо в кошельке.

2024-11-3 12:03


Фото:

Ripple at crossroads as co-founder moves 30 million tokens amid reserve surge

Ripple (XRP), one of the most prominent cryptocurrencies, has garnered attention due to a series of significant market and on-chain events that have left the XRP community uneasy. With developments around large token transfers and increasing exchange reserves, questions have arisen about the future direction of XRP’s price. In this article, we explore these key […]

2024-9-27 21:56


Why Ripple’s XRP Has an Edge Over Bitcoin and Ethereum in the Race for Practical Cryptocurrency Adoption

A crypto analyst from the YouTube channel AllinCrypto presented a video to prove that Ripple’s XRP has the best chance of being used as a currency compared to other cryptos. His argument is that the strength of XRP is not that it uses a currency but that it can enable the existing fiat currencies’ capabilities […] The post Why Ripple’s XRP Has an Edge Over Bitcoin and Ethereum in the Race for Practical Cryptocurrency Adoption appeared first on CaptainAltcoin.

2024-8-29 23:45


Ripple начинает тестирование своего стейблкоина на Леджере Ethereum и XRP

Компания Ripple, ориентированная на предприятия блокчейн-сервис и создатель XRP Ledger (XRP), сообщила в пятницу, что начала тестирование своего стейблкоина в сети Ethereum (ETH) и XRP Ledger. “В настоящее время Ripple USD находится на стадии бета-тестирования и проходит тщательную проверку нашими корпоративными партнерами”, – говорится в сообщении компании в блоге.

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