We’ll come back to make money online. Recently, XRP is at its most bearish, having hit an extensive long trend of ill-luck, the year 2020 started with a lull as it took quite the hit with the pandemic causing a major turndown in the price of all cryptocurrencies.
But their fortunes have turned around somewhat at the turn of the year as more people have found more use for crypto. This was attributed to the increase in the number of companies and businesses that accept cryptocurrency as payment for goods and services.
Bitcoin, Ethereum and other altcoins lead the charge as the cryptos that fit this need, and it is reflected in their current value bitcoin particularly standing at a staggering height of about twenty-two thousand dollars after a slight fall from a new all-time high of about twenty-four thousand dollars. This far exceeded its all-time high of twenty thousand dollars set in twenty eighteen, a height which has taken quite a while for it to retain.
It fell to its lowest five thousand dollars coming into twenty, slightly rising to six thousand dollars as the year progressed, and it ultimately leads back to about ten thousand dollars and it kept rising until its current state.
Other altcoins also took a cue from this as the cryptos experienced a surge of their own, Ethereum started a steady rise after it settled above the four hundred and fifty dollar resistance is up over two percent and it’s now trading well above one hundred and fifty-five dollars.
A successful close above the 460 dollar resistance level may perhaps increase the chances of a break above the four hundred and sixty-eight and four hundred and seventy dollars resistance levels. If there is a downside correction, the four hundred and fifty-five dollar level may provide support. The main support now is forming near the four hundred and fifty dollar level.
Bitcoin cash price is down three percent and it’s now trading below. The two hundred and sixty dollar support level is holding the two hundred and twenty-five dollar support. If there are more losses, the next stop for the bears could be two hundred and fifty dollars. On the upside, the two hundred and sixty dollar level is short term resistance. The main resistance is now near two hundred and sixty-five dollars.
Chainlink climb steadily and it’s settled above the twelve points eight dollars and thirteen dollar resistance levels. The price is now trading above the thirteen points one dollars level and facing a minor hurdle near the thirteen points thirty-five dollars. The next major resistance for the bulls is near thirteen point five dollars above which they could target a test of fourteen dollars.
The price is somewhat short of its all-time high of about a thousand dollars set in twenty eighteen, Bitcoin and Bitcoin cash as well as chainlink, have all risen considerably and have stabilized at their current price, fluctuating back and forth, but not necessarily dipping based on the market index. XRP is ranked as the third most valuable crypto asset in dollar terms based on market cap. The digital asset is capped at one hundred billion XRP with just under forty-three billion circulating supply.
Ripple XRP is one of the world’s major cryptocurrencies, not because it has a majorly high price. It had an all-time high of three-point eighty-four dollars in January, twenty eighteen in a year that favoured cryptocurrencies.
It would later fall to a lower depth as it could not maintain the streak it dropped beyond a dollar to as low as O point two dollars. However, it’s one of the fastest-growing cryptocurrencies and thus it’s ranked among the top five cryptos who all seem to have even more price value.
Analysts were not so optimistic about its chances in twenty as the pandemic set in, and for a while, they were proven right as it fell alongside another cryptocurrency.
However, it didn’t necessarily rise in tandem with the other cryptocurrencies. Its rise was credited with the adoption of its operational medium. Rypple, which served as a payment system for banks and financial institutions and not necessarily as a medium of buying goods and services. Its alignment with financial institutions, though favourable in the long run, has led to slow development in its value.
It grows faster than another crypto, and it stabilizes at its price more than other cryptocurrencies. SRP managed to clear the point two five five-dollar resistance, but it failed to gain strength. It’s currently consolidating just below a point two five five dollars with strong support near-zero point two five two dollars. The next major support for the bulls is senior, the low point to five-level.
On the upside, the price must gain strength above zero points to fifty-five dollars, an opening to five-eight dollars for a strong increase. The highest it has risen this year is O point fifty-five dollars, which is only about fourteen point thirty-two percent of its all-time high.
This was its price in the second week of December, but it’s fallen to a point forty-three dollars and back down. Following a series of events, the exposed pair is increasing its losses and it even tested the US d.o. Point three zero zero support zone. While some small exchanges have already started delisting the XRP the Spark airdrop had a positive effect on the price of XRP as it boosted it slightly and it was met with support by large cryptocurrency exchanges, Coinbase and finance.
The crypto facilitated an airdrop to all Sarpy holders of the Spark token on twelfth of December. Twenty-twenty. A token is courtesy of Verbals Flare Network and is due to be issued to our beholders based on the amount of XRP they hold. As at the time of the snapshot, a single XRP will give one spark token which will be available for withdrawal in the first half of twenty twenty-one.
So far, investors and S&P have been reported to earn close to a thousand percent increases in their investment because of this, ZAPU retains the potential prospect of being a huge success given its alternative approach to other forms of crypto with the acceptance of its system by a larger number of financial institutions across all the countries in the world, they will deploy it to enable their users to make cross-border transactions from their home country.
XRP is bound to gradually rise in stock over the years and later rake in millions. However, for now, the crypto has to rise above a challenge of its identity as posed by the Securities and Exchange Commission. The case has been on the books as twenty eighteen, questioning the operation of Rupel as a security or a cryptocurrency. What led to this was the observed nature of Sarpy sales and transactions. The price of Xabi fell about twenty-five percent, leaving its price at zero point thirty-five dollars.
Since the lawsuit was filed, it was filed on the charge that REPL was operating as illegal security. The cases charge that Rypple, which is popularly renowned for its trademark payment system, the crypto itself is not under fire, but the charge is launched against REPL and its founders are bound to affect the cryptocurrency. Ripple has done its best to distance itself from the cryptocurrency.
Misreports of the company is still holding a huge stake in the crypto, with its executives holding a large percentage of the total volume to themselves. To small exchanges have already delisted XRP as one of the cryptocurrency is that their users can trade on the platform trading a company charged with being illegal security draws them in on the alleged crime, and they can get sued for that. Technically, a threat to Ripple is a major threat to XRP itself.
And while the threat remains, the cryptocurrency is going to experience a dip as it has now. Either way, the cryptocurrency is expected to come out even better after its ordeal. Question is, will you be there to see it pull through? Good news, there is indeed light at the end of the tunnel for long term investors of XRP and the subsequent dips arising from the recent events and the ones that may surface from the lawsuit. The timely issues raised in the hearings will also contribute to the development of the cryptocurrency. The smartest thing anyone can do is to adopt a buy and hold a principle.
When dips like this happen, it offers a great opportunity to buy as many bitcoins as possible. If you’re intent on doing this, you must be prepped to go the long term. The projected predictions of XRP for the next three to four years show promise. Looking beyond the events happening today, we can count on the experience of the people who champion Bitcoin’s rise right from when it started in 2009.
Till today, it all looked bleak as Bitcoin battled against many challenges posed by regulators. It was charged with being a Ponzi scheme and the arousal of some cryptocurrency schemes that scammed lots of investors.
Yet Bitcoin came out of the rubble, paving the way for other cryptocurrencies to make their way into the rapidly changing financial world and evolution spearheaded by cryptocurrencies. It’s amazing what roles the solutions offered by cryptocurrency have to offer the global population a legal way out of poverty, a major reduction in the rate of unemployment, improvement in the standard of living of individuals.
It also offers small and medium enterprises a chance to upscale their businesses with cryptocurrencies. They can easily receive fast and secure payments for their products and services from any part of the world. The blockchain acting as a conduit between both ends of a transaction. Its role as an independent body, not subject to any individual or corporate body, will further facilitate the growth of cryptocurrency.
XRP as a cryptocurrency has come to stay and a legion of benefits will continue to benefit the world at large. It’s already making waves as the fastest and cheapest payment medium in the world, with hundreds of banks across the world ascribing to the system for making international payments.
Ripple XRP is working to replace SWIFT as the leading platform by offering its services on an even larger scale faster yet cheaper. It also claims to replace the dollar as a medium of exchange for sending money from one international currency to another. This will help people to evade the expense of dollar by offering XRP at a much cheaper rate. And there’s also the benefit of fast payment.
It takes barely seconds for a transaction to be completed, and it’s deemed about a thousand times faster than transactions with other cryptocurrencies. It’s also relatively cheaper. Investing in ERP now may mean that you become a long term investor.
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