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Ripple's XRP is showing remarkable growth as it is the third day in which it has recorded continuous double-digit gains in the cryptographic market. XRP is in a winning streak in the market. The currency has increased by 36% in the last 48 hours and is currently the cryptic market leader with gains of 13.32%. Its market capitalization has increased by over $ 2 billion.
XRP Technical Analysis
The XRP exceeded the resistance level of $ 0.32 and increased by $ 0.35, the next resistance level. Prices appear to have found support at $ 0.32 and are currently trading at $ 0.37. The coin found a second support at $ 0.35. The MACD shows a bullish momentum for prices and the 100 EMA line at $ .3103 shows an uptrend.
Why a Surge? [19659006] XRP has experienced strong pressure from sellers since the end of June. The price of the currency was around $ 0.54 in the currency, which was traded around $ 0.54 with a fall of 46% and began trading at $ 0.29. Looking at the price trajectory of this month, XRP, which was beginning to lose on the market, has recovered quite well and is leading the market, recording solid gains. The imminent launch of xRapid was a speech around the city while Ripple's Sagar Sarbhai claimed that Ripple is progressing rapidly with the product launch plan. Some say this has resulted in a price increase.
Marcus Treacher, Ripple's global strategic accounts manager, recently said that RippleNet has extended its operations to over 40 countries by promoting a faster cross-border payment system.
"The new RippleNet corridors have a potential combined market that amounts to over $ 2 billion in inflows in the last year: InstaReM and RationalFX have opened new corridors from the UK to Malaysia, to Vietnam, Indonesia, Sri Lanka and Bangladesh Remitr and FlutterWave established a RippleNet Corridor in Nigeria from Canada, the first connection to RippleNet in Africa BeeTech and InstaReM created corridors from Brazil to Spain, Italy, Germany, France and Portugal, " Treacher said, according to a report CCN .
Ripple's strategic partnerships, an imminent product release and the expansion of RippleNet have pushed prices towards a trend reversal. A strong recovery in the XRP market may be able to show positive gains this month
See also: Coinbase denies trading to increase profits for itself rather than its customers
[19659003] Citigroup, ConsenSys high profile that come together to digitize the trade in goods with blockchain
Image via Shutterstock
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