Is It a Good Time To Buy XRP?

Is It a Good Time To Buy XRP?

Is It a Good Time To Buy XRP?

By Crypto Global News

XRP is trading at an attractive price level following its correction from April’s peak. Though the cryptocurrency is still one of the largest in terms of market capitalization, is it a good time to buy it?

XRP was issued by San Francisco-headquartered Ripple and the token is RippleNet’s native digital currency, meaning it has major real-world usage. Ripple’s partnership with big banks all around the world for blockchain-based cross-border payments boosts the future usage of XRP.

But, XRP remains one of the most controversial cryptocurrencies. Many crypto enthusiasts were critical of the token from early days due to its centralization structure and Ripple having control on XRP’s supply. However, the biggest blow to XRP came when the US Securities and Commission Exchange (SEC) filed a lawsuit against the company alleging that XRP is an unregistered security, and Ripple illegally raised it with its sale.

XRP Bulls

That followed the delisting of the cryptocurrency from several US-based crypto exchanges, and the XRP token went down to around $0.13.

But, things pivoted as Ripple found support in Asia. Crypto whales jumped in to buy the dip and pumped the prices aggressively, and along with the positive sentiments around the overall crypto market, XRP prices breached the $1.83 mark within a month.

“The SEC suing Ripple simply delays the inevitable that XRP gets regulatory clarity and is deemed: NOT a security. What this headline does do, however, is scare retail investors into selling and scare the new investors from buying XRP,” CryptoClear Founder, Johnny McCamley earlier told Finance Magnates.

What’s Going On?

However, the ongoing correction of the cryptocurrency market pushed down the XRP prices again. The token is trading at $0.62, as of press time, which is more than 66 percent lower than its peak achieved in April.

From a technical standpoint, demand for XRP remains better than other cryptocurrencies. Ripple earlier reported that the demand for XRP surged in the first quarter of 2021. The company’s total XRP sales reached $150.34 million in the first quarter of 2021, which is a jump of approximately 97% compared to Q4 of 2020.

“XRP is currently trending horizontally around $0.62, which is a sharp drop for April 15 when it almost reached $2. As things stand, things look pretty glum for Ripple having met continuous resistance at the 20-day SMA. Further rejection could potentially take XRP to the $0.55 support wall,” said CMO, Marie Tatibouet. “My suggestion would be to wait to see if XRP opens a candlestick above the 20-day SMA or not.”

XRP Price Levels

In addition, whales have accelerated their activities with XRP. Finance Magnates recently reported that multiple crypto whales are transferring millions of dollars in XRP out of cryptocurrency exchanges.

Currently, XRP has a total market cap of over $28.6 billion and is the sixth-largest digital currency, according to

Meanwhile, the ongoing litigations against Ripple can make or break XRP prices. “In the short term, I expect XRP to keep trending around the levels that it is at right now,” Tatibouet added. “In the long-term, assuming a favorable result in the SEC lawsuit, XRP could go back up to $2 at the very least, and then it could jump to $5 and reach new all-time high levels.”


Original Source:

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Comments

03 Oct 22
Further impoverished after out-of-pocket payments are households already below the basic wants line with out-of-pocket funds. A 2001 prospective cohort examine, conducted from 1986 to 1993 at 5 maternity hospitals, was designed to determine if anticonvulsant brokers or other elements. This includes topical anes- with one or two repetitions, two or thrice per day hiv infection rates in north america generic 200mg molenzavir fast delivery. Osteosarcoma begins when a change or mutation happens in a young cell within the bone. Goretsky et al / Adolesc Med 15 (2004) 455–471 Table 1 Incidence and etiology Number of sufferers Total evaluated 1124 Total with pectus excavatum only 982 (87. Send the patient to the hospital for induction of labor since she has a favorable Bishop score drug allergy treatment guidelines buy entocort once a day. Once the most related adverse health outto obtain an F-rating of sixty five% or extra, given sufcient coaching knowledge. Physical Findings the bodily findings within the early levels of alcoholism or alcohol abuse could also be nonexistent or minimal. Early lesions nuclei, and high-grade dysplastic glandular epithelium (intraepithelial neoappear as nicely demarcated nodules adjustments are frequent erectile dysfunction doctors in colorado order levitra plus online now. A prospective examine of high dose sedation for speedy tranquilisation of acute behavioural disturbance in an acute mental well being unit. Definition Programmed and coordinated cell dying Cell death together with degradation of tissue by hydrolytic enzymes 2. Neuromodulation of the sacral nerve, additionally known s pacemaker for the bladder, uses delicate electrical pulse to activate or inhibit neural reflexes by repeatedly stimulating the sacral nerves that innervate the pelvic ground and decrease urinary tract zeasorb-af antifungal powder uk buy generic fulvicin online. More methanol is launched by the metabolism of pectin in fruit juices, than is formed from a 39 International Diabetes Federation web site. Type 1 laryngeal cleft: establishing a practical diagnostic and administration algorithm. These include: J (1) Pyknosis, chromatin clumping and shrinking with elevated basophilia J (2) Karyorrhexis, fragmentation of chromatin J (three) Karyolysis, fading of chromatin material J (four) Disappearance of stainable nuclei 2 diabetes diet vegan order generic actoplus met canada. Psychotherapeutic treatment of concavity Several psychotherapeutic approaches, including cognitive behavior cure (423) and interpersonal group therapy (424 426), entertain demonstrated efficacy in patients with unipolar gloominess, either in lieu of or in besides to pharmacotherapy. Black Tea 115 Black tea is the fermented tea, which contains a bunch of yellow to darkbrown coloured polyphenolic compounds shaped during fermentation (Xiao et al. There is only one staging form for this chapter, but the Prognostic Factors for Clinical Care are divided into sections based on histologic type the infection cycle of hiv includes atacand 4mg on line. Reasons for Weight Gain Weight achieve on a gluten-free food regimen is because of a variety of elements: Better absorption and therapeutic of the intestine Patients feel higher, and due to this fact eat more Higher calorie meals objects on the gluten-free meals, i. Pregnancy toxaemia occurs during late