Ripple's XRP is the only coin that shows double-digit gains among the major cryptocurrencies today. The currency has held the ground and is showing an 18% increase against the dollar in the last 24 hours. The XRP has risen 26% in the last seven trading days.
The increase in XRP prices was unexpected since the Ripple foundations were the city's speeches for a while. The first news was from Sagar Sarbhai, who served as head of regulatory relations at Ripple in the Middle East and the Asia-Pacific region. He said the company is progressing rapidly with its xRapid product launch plan. The second speculation derives from the false post of a redditor who mentions that XRP will be listed on Coinbase.
XRP Technical Analysis
XRP is currently experiencing a sudden surge in the market. Prices have increased from key support levels and have started trading above $ 0.31. The 100 EMA line traded at $ 0.2786 shows an uptrend. The MACD indicates a bullish momentum for prices. The current resistance level is set at $ 0.32. The XRP is currently trading at $ 0.31. This marks the start of a new bull run for XRP and also a recovery from an eight-month bear run of the cryptocurrency.
surrounding Ripple's engagement with the SEC. Ripple explained to the SEC that the use cases of XRP are independent of Ripple's influence. If they can convince the independent nature of SEC of XRP, it may prove to be a crucial moment for Ripple as it could only win the US SEC which will imply a quote on Coinbase.
See also: Switzerland and Israel agree to share the notes on the blockchain regulations
25% of the Bitcoin offer controlled by long-term investors; research
Image via Shutterstock
Join our group Telegram