Should you buy the correction in XRP as price pumps?

Should you buy the correction in XRP as price pumps?
фото показано с : coinjournal.net

2022-9-27 21:08

XRP has jumped by double digits in the last one week

The gains have been fueled by positive expectations of the case with the SEC

The cryptocurrency is undergoing a correction after topping $0.55

In the past week, the price of Ripple’s XRP/USD has pumped by more than 36%. That happened after Ripple and SEC filed summary judgment motions for the long-standing case. In the filing, Ripple asked the judge to dismiss the case. Investors have been reading between the lines, expecting Ripple to win against the regulator.

Amid the positive expectations, whales have been accumulating XRP. Santiment data indicates that active addresses holding 1-10 million XRP have been on an uptrend since late 2020. The accumulation reflected expectations that Ripple would win the case against the SEC. Thus, filing the summary judgment reawakened hopes that the case could conclude soon. 

XRP slows after weekly gains take the token to $0.55

eToro

eToro is one of the world's leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It's social copy trading features make it a great choice for those getting started.

Buy XRP with eToro today Disclaimer

Bitpanda

Bitpanda is a digital assets brokerage company. It has grown to become one of the most popular crypto exchanges in the world, as it offers a user-friendly interface, it has developed a bunch of great features and it offers a variety of coins to invest in. Bitpanda has also built a reputation for security, and it has never experienced a hack of its data before.

Buy XRP with Bitpanda today

The daily chart below shows XRP trading at $0.47. The token touched a high of $0.55 on September 23 amid a strong bullish surge. We consider XRP to be in a correction phase that will last a few days.

Source – TradingView

Technically, XRP is overbought. The latest correction suggests profit-taking activities after the price touched $0.55. Since speculations of the SEC case are far from over, XRP could still move higher. However, the current high price could force further corrections. We recommend buying on a retracement. The potential support is $0.45, $0.40, and $0.38. 

Summary

XRP faces correction as the token is currently overbought. Investors should wait to buy at a suitable support if the current correction continues. However, the price could still maintain the uptrend if positive speculations continue to emerge. We recommend buying lower for a higher return and lower risk.

The post Should you buy the correction in XRP as price pumps? appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 0.5118 (+0.67%)
Объем 24H $1.102b
Изменеия 24h: 0.52 %, 7d: -2.39 %
Cегодня L: $0.4973 - H: $0.5173
Капитализация $29.103b Rank 7
Цена в час новости $ 0.4714 (8.57%)

xrp pumps should price correction buy gains

xrp pumps → Результатов: 33


Фото:

Ripple Pumps $260M Worth of XRP into Coil to Boost Content Monetization 

Xpring, an innovative initiative from the stables of Ripple that claims to be focused on building the internet of value by incubating, acquiring and providing grants to blockchain projects and credible entrepreneurs, has made a grant of 1 billion (about $260 million) XRP in Coil, an alternative content monetization platform powered by distributed ledger technology (DLT).

2019-8-16 13:30


Bitcoin Bullish Despite $1,600 Dump, ETH Locks in CDPs Plummet & FXCM Group Launches XRP & BCH CFDs

Bitcoin is just getting started for its next parabolic cycle Ether locked in CDP slides down to 1.71% XRP “rarely consolidates” after its “face melting pumps” On May 17th, Bitcoin was hovering near $8,000 when it took a tumble down to $6,178 level, losing more than $1,600 in the process. At the time of writing, […]

2019-5-17 19:15