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Ripple (XRP) Price Predicted to Push Higher After Bouncing Back from Below $0.30

  • Alex Dovbnya
    🤷 Opinions

    While XRP has been gripped in a bearish trend, the bulls took a bit of control as the token bounced back from below the $0.30 mark. The Ripple token tested the grounds of the $0.2920 mark but bounced back and looks like it could be set to rise up towards $0.31

Ripple (XRP) Price Predicted to Push Higher After Bouncing Back from Below $0.30
Cover image via u.today
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It has been an up and down time for XRP and the company Ripple under which it falls in the cryptocurrency market. The coin looked to be caught in a bearish rut and was heading down below a key resistance point of $0.30, but it has managed to bounce back above that market and is destined to go higher.

XRP is up about three percent today, a day which is seeing gains almost totally across the board. That jump, which is being echoed across the market, has helped the coin get back into a slightly bullish mood.

The price tested the next key support near $0.2920 before the bounce back happened. Bulls took control and pushed the price above the $0.2980 and $0.3000 resistance levels in quick succession. The coin is now poised to break the $0.31 mark

A change in fortune

While XRP was looking decidedly bearish yesterday with the $0.30 mark hanging precariously close to being breached, the market boost has come at just the right time for Ripple. Bitcoin, Ethereum, and Litecoin also gained about 3 percent, while others, such as EOS and Cardano, are up over 10 percent.

Ripple would have been in a dangerous place had it continued to fall below the key support of $0.30, but now, with the bullis trend permeating through the market, the price of the token has pushed up to the upper reaches of $0.30 with $0.31 soon to be breached.

However, it does not look like there is any reason for XRP to explode further, and certainly no reason for it to break the $0.33 mark, where it has been keeping under for some time now.

In the short term, there could be a downside correction towards the $0.3030 or $0.3010 support levels. The next key resistance is near $0.3100.

Long-term future?

While XRP is stuck in a small range and struggling to break out, more often breaking down, the long-term future of the coin is still rather positive. Ripple has been doing good work to push the advancement of its cryptocurrency and there is a lot of potential circulating the company.

What affects the general market will also help XRP rise, as has been seen in this latest small spike of three percent for XRP. If the crypto spring can continue to bloom, then there is every chance that Ripple will be able to ride the wave.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange

  • Yuri Molchan
    📰 News

    A major XRP community member shares data that XRP is generating 80% of volume on Bitso exchange that is Ripple’s partner at introducing On-Demand Liquidity in Mexico

 XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange
Cover image via www.123rf.com
Contents

After Ripple had rebranded its xRapid product as On-Demand Liquidity (ODL) and partnered with the largest Mexican exchange Bitso, the introduction of ODL in cooperation with MoneyGram starts bringing its first fruits. As part of the collaboration, Ripple has invested in Bitso and got them to add one of its top executives to the board of directors.

 

On-Demand Liquidity successfully integrated on Bitso

A member of the XRP community @XrpCenter reports that things are looking good for XRP on the largest Mexican exchange Bitso and for Ripple’s ODL product. ODL was introduced there after the crypto giant invested an undisclosed amount in the trading platform.

The chart in the tweet shows that the XRP/MXN pair now accounts for 80 percent of the overall trading volume of Bitso.

Bitso became the key partner of Ripple and MoneyGram at introducing On-Demand Liquidity to the Mexican market. So far, the implementation has been going successfully.

This has not impacted the XRP price much though, since over the last 24 hours it rose merely by 0.54 percent. Unlike it, BTC and its forks – BCH and BSV – have posted much higher gains, as reported by U.Today earlier.

XRP price
Image via Coinmarketcap

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Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple releases its Q3 report

At the end of last week, Friday, Ripple issued its regular report on the results of Q3. In the document, Ripple covered several major issues, such as movements of XRP from escrow and back to it, recent Ripple’s partnerships with Logos, Algrim and other startups, Coinme crypto ATM network.

Ripple also addressed the issues of FUD (fear, uncertainty, doubt) that has been recently actively spreading around the company and its XRP asset.

Ripple Q3 report
Image via www.ripple.com

What are your thoughts on the Ripple expanding XRP use in Mexico? Share them in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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