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Ripple’s XRP token is currently trading at $ 0.241 after bouncing 5.92% from the $ 0.227 support level this morning.
As noted in last week’s XRP analysis, the fourth largest cryptocurrency in the world by market capitalization remains confined to a relatively narrow trading range, with $ 0.26 providing a stubborn level of resistance.
XRP is now trading within the range since early September following a drop in price from a local high of $ 0.33.
It is also worth pointing out that the 200 daily exponential moving average (EMA) appears to be another support level despite being resistance from the bear market reversal in early 2018.
TradingView XRPUSD chart
Moving forward, volatility is expected this week in light of the US presidential election and Bitcoin’s impending push above $ 14,000.
While altcoins like XRP will initially sell off in the event of a Bitcoin breakout, they will most likely rally into a new bullish phase as Bitcoin begins to consolidate at a higher price.
In terms of XRP, its price action will not only depend on retail participation, but also on investment by institutional clients, many of whom typically purchase over-the-counter XRP tokens from the Ripple Foundation.
Although token sales have been complained by XRP supporters, Ripple CEO Brad Garlinghouse revealed that token sales are “vital” to the company’s survival.
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Ripple’s latest price
Current real-time XRP pricing information and interactive charts are available on our site 24 hours a day. The scroll bar at the bottom of every page on our site has the latest Ripple price. Prices are also available in a range of different currency equivalents:
US Dollar – XRPtoUSD
British pound – XRPtoGBP
JPY – XRPtoJPY
EUR – XRPtoEUR
Australian dollar – XRPtoAUD
Russian ruble – XRPtoRUB
Bitcoin – XRPtoBTC
About Ripple (XRP)
Ripple is a real-time gross settlement system (RTGS) developed by the Ripple company. It is also referred to as Ripple Transaction Protocol (RTXP) or Ripple protocol. It can trace its roots back to 2004 when a web developer named Ryan Fugger came up with the idea of creating a decentralized monetary system that could actually allow people to make their own money.
Ripple is one of the largest cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalization.
More news and information about Ripple
If you want to find more information about Ripple or cryptocurrencies in general, use the search box at the top of this page. Here is a recent article to get you started:
As with any investment, homework is worth doing before parting with the money. Cryptocurrency prices are volatile and rise and fall rapidly. This page does not recommend a particular currency or whether you should invest or not.
