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XRP hikes again: 11% growth on the back of Ripple’s announcements

Anirudh VK

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XRP hikes again: 11% growth on the back of Ripple's announcements
Source: Unsplash

In the latest series of hikes this month, XRP observed a growth of 11% in just under 10 minutes. This comes after the coin doubled its value earlier this month, hiking from its yearly low of $0.25 to almost $0.80 before correcting to around the $0.50 mark.

In its most recent hike, it broke one of the crucial levels that it has been struggling to break since the beginning of the month. This is the $0.57 mark, where the coin has bounced back multiple times.

It was trading at around the same mark over the last week on 22nd September and dropped to $0.55 the very same day. It then saw a sharp drop to $0.44 on September 25th, only to see a sharp upwards movement to $0.54 the very same day.

Proceeding this, it went up to the $0.56 mark, yet again bouncing off the resistance to fall. It bounced between the $0.56 and $0.50 limits for the rest of the week, finding stability at the $0.53 to $0.54.

The technical charts find that XRP has major supports at $0.567, $0.561, $0.55 and $0.54. The trend lines at $0.596 – $0.576, are set to intersect with the uptrend from before the hike at $0.54 – $0.572.

The crypto-space has been filled with bullish news for XRP lately, seeing as how xRapid was confirmed to be close to launch. Ripple is also adding more customers to their network of banks and financial institutions, thus allowing for XRP to be used for cross-border transactions through their product.





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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.

XRP

XRP interest on the rise as analysis shows formation of a ‘quadruple bottom’

Akash Anand

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on

Source: Pixabay

The cryptocurrency market has been subject to a significant bull run that has not only catapulted the prices of digital assets, but also their corresponding market caps. XRP, the third largest cryptocurrency, had more of a rollercoaster ride rather than the sudden surge enjoyed by Bitcoin, with the coin trading at a 6-month high, at press time.

A recent analysis conducted by DonAlt, the popular cryptocurrency enthusiast, pointed out the dips in the one-day chart of XRP. His tweet read,

“$XRP update:
A lot of interest in XRP. Kind of looks like a quadruple bottom / head and shoulders.
Not the biggest fan of longing those. If there is one lesson 2018 taught everyone is support is only support for so long.
I’ll be watching this one from the sidelines.”

Source: Twitter

Source: Twitter

There was also speculation that it was a good time to buy into XRP when there is a violent reaction at the lows, while going long previously was a risky decision. Previous readings of the XRP graph have shown that any squeeze in the XRP graph will result in a full retracement. Since May 2019, the cryptocurrency grew from $0.28 to the current trading price, which was more than a 100 percent increase.

At the time of writing, XRP was trading at $0.467, with a total market cap of $19.89 billion. The cryptocurrency was growing at a rate of 1.13 percent, with a 24-hour market volume of $42.57 billion.

XRP was in the news recently after its related application, XRP TipBot, came back online after a small downtime. Wietse Wind, creator of XRP TipBot, had tweeted,

“Oops! Sorry! Infrastructure blip. Really easy fix but I enjoyed an offline afternoon with my girls 😇 So I only found out after some time, when I checked my phone. Monitoring, messages, calls 😇 Social media tips went through during the downtime. Sorry!”





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