Crypto Pirates

Many believe that using Bitcoin for everyday purchases is impossible, yet a lot has changed in the previous few years...

Support us!

MetaMask is currently developing a "compelling use case" for a native token...

Support us!

More Asian singles are apparently being duped out of their hard-earned money – and digital assets such as bitcoin (BTC) and tether (USDT) — by an increasing number of scammers preying on naïve users of dating apps...

Support us!

The bitcoin sector has exploded in recent years. While Bitcoin remains the most popular cryptocurrency, the market is seeing the emergence of other new coins. There is considerable optimism that these cryptocurrencies will soon become widespread and will eventually supplant traditional payment methods...

Support us!

"Crypto Kombat" has been operating for a while, but it only recently announced its own play-to-earn concept for its card game...

Support us!

Ripple utilised a viral tweet to reference an email from the US Securities and Exchange Commission (SEC) on the XRP token's status. The email was issued to a user who questioned if the token was a security...

Support us!

Avalanche is onboarding high-profile DeFi protocols, and its token continues to surge even as other coins retrace their losses...

Support us!

Cryptocurrencies have exhibited the industry's volatility in recent months, surging to a new all-time high before plummeting more than 50%...

Support us!

When Vincent Gallarte was fired off in July, the Manila IT analyst discovered an odd financial lifeline: a cryptocurrency-based online game. Gallarte earned more than 37,000 pesos ($732) in his first two weeks of Pokémon-like questing and battling, three times what he would have earned at his "real job."...

Support us!

XRP is one of the most popular cryptocurrencies, but it has encountered stiff resistance from the Securities and Exchange Commission, which requires it to be classified as a security. While the problem caused by this litigation appears to have subsided, a later rally coincided with the broader crypto market.

Ripple is not merely a banker's joint venture; it is rapidly advancing towards smart contracts with a fresh upgrade plan for its XRPL. As you might have predicted, XRP is joining the smart contract space with XRPL, but the process is as straightforward as it sounds.

The inclusion of XRPL in smart ledger contracts will pose a challenge to Ethereum and other cryptos that enable smart contracts, eroding their market dominance. Over the previous year, the growth of decentralised finance (DeFi) and smart contracts has piqued XRP's interest in the sector, leading to the creation of the Federated Sidechains within XRPL.

Analysis of the XRP Price

XRP has climbed more over 160 percent since the July 21, 2021 lows, raising eyebrows as it gained more than expected in light of the ongoing SEC case. While the highs were not unprecedented, the rally was noteworthy. Interestingly, the rise of the RSI from oversold to overbought zones within a month signals a significant transformation taking place in this crypto industry especially with XRP.

XRP was able to reclaim support from the level on August 18th and achieved a 23 percent rise over the next three days. However, these consolidation zones will be dismantled as a result of profit booking. One must be prepared to profit from any sell-off and re-enter the XRP area.

The 200 Day Moving Average, which serves as a solid benchmark for evaluating the price of any asset, is currently 35% below the current price of $1.161, which XRP is trading at following a 9 percent drop yesterday on August 24th 2021. One should anticipate profit booking in XRP as long as immediate support remains active around the $1 physiological level.

XRP has reached a bottleneck level following a big breakout at the $1.05 levels. At the moment, we have good support at $0.80 and resistance at $1.30. There is a high possibility of a correction below $1.00, followed by a bounce to $2.

This price analysis is based on a decline in buying mood over the last 10 days, which was accompanied by a decline in volume. As long as the RSI remains above the 50 level on a histogram, XRP should recover. The combination of support levels and the RSI would indicate the ideal time to add further XRP coins.

On hourly charts, there has been no change in either direction as XRP consolidates in a narrow range. While the RSI suggests an oversold condition with histogram values below 40, the MACD indicates a bullish divergence, signalling an imminent upward trend. According to our Ripple price prediction, if XRP overcomes the resistance level of $1.32, it should enter a consolidation phase with a significant bias towards profit booking.

Support us!