Ripple’s XRP, sole coin with double digit gains among major cryptos
Ripple’s XRP is the sole coin to exhibit double-digit gains among the major cryptocurrencies today. The coin has held ground and is showing an 18% hike against USD in the past 24 hours. XRP has increased by 26% in the past seven trading days.
XRP price rise was unexpected as the Ripple fundamentals have been the talk of the town for quite some time. The first news was from Sagar Sarbhai working as the regulatory relations’ head at Ripple in the Middle East and Asia Pacific region. He asserted that the company is rapidly progressing with its plan of launching the xRapid product. The second speculation arises from a redditor’s fake post mentioning that XRP is going to be listed on Coinbase.
XRP Technical Analysis
XRP is currently experiencing a sudden hike in the market. The prices hiked from key support levels and have started trading above $0.31. The 100 EMA line trading at $0.2786 is showcasing an uptrend. The MACD signifies a bullish momentum for the prices. The current resistance level is set at $0.32. XRP is currently trading at $0.31. This marks the onset of a new bull run for XRP and also a recovery from an eight-month-long bear run of the cryptocurrency.
Speculations also surround Ripple’s engagement with the SEC. Ripple has been explaining to the SEC that XRP’s use cases being independent of Ripple’s influence. If they can convince the SEC of XRP’s independent nature it can prove to be a pivotal moment for Ripple as it might just win over the US SEC which will imply a listing on Coinbase.
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