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XRP Community Is Optimistic About Its Price Reaching The Three-Figure Mark

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We have seen XRP, the native cryptocurrency of Ripple, in the news in recent months more than any other digital currency in the cryptocurrency market. The reason behind this is the ongoing lawsuit war between its parent company and the United States’ independent agency, Securities and Exchange Commission (SEC). This battle started in the last month of the year 2020, and it is still going on, and there are no signs of the end of this lawsuit till now.

When the US SEC filed a lawsuit against Ripple and its executives, the price value of the company’s native crypto fell down drastically, dropping from the figure of $0.7 to the $0.2 price level. However, every development in the case that favored Ripple also helped the price of the coin go higher as well.

If we look at the current price performance of XRP, the seventh-ranked digital currency is holding at around $0.83 with a negative change rate of -4.68 percent in the last 24 hours at the time of writing this article. It is standing right near to breaking above the figure of $1 to get close to its June high, which is standing at around $1.07. In order to retest its June high, the coin needs to break the resistance level of $0.90 and turn it into its support level.

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Source: CoinMarketCap

There are chances that the coin might be able to get its price value into the three-figures in the long-term case scenario, but in order for the coin to do so, it needs to be completed in the bullish momentum, which should be kept maintained for a longer period of time.

While talking about the future prospects of the price value of XRP, the famous cryptocurrency analyst known as CryptoSerpent stated in a video:

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We are heading into this bullish, ferocious momentum for XRP, and it’s going to be legendary.”

Furthermore, the analyst said that last time the price of XRP surged high was in the year 2017-2018 and it occurred right after the cryptocurrency faced a price drop. The analyst is a similar kind of move by XRP again:

Coming to the present, we did have a massive drop and now we’re trading sideways. We can expect 3 hard-hitting moves now.”

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Out of the three big moves, the first one as expected by the analyst will take place when XRP will enter the $0.9-2.6 price range. While talking about the next two big moves of XRP, the crypto analyst stated:

We’ll go one more time for the major move which will see us going into the tens. $10-$11 and maybe even touch $15 for a little bit. We’re going to go sideways then one final push will get the crypto’s price to the $123 range.”

At the end, the analyst said that all of this is not going to occur within a short period of time. It will take time as a lot of things are likely to get right before all of this happens. He asserted:

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It’s definitely not going to happen overnight. A lot of things have to go right for this to occur, but it is coming. It is just a matter of when, not if.

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Former U.S. Treasurer Praises XRP While Dismissing Other Cryptocurrencies

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Rosie Rios chooses XRP over other cryptocurrencies, but there’s a catch

Former U.S. Treasurer Rosie Rios recently typed out some words of praise for XRP’s utility.

In her tweet, Rios claims that the Ripple-affiliated digital currency is used for cross-border payments, which she believes sets it apart from other coins that are mainly useful for speculation.

The ex-treasurer, whose name was printed on billions of U.S. dollar banknotes, believes that China’s most severe cryptocurrency ban to date is somehow supposed to highlight the difference.

“Rios’s words, of course, have to be taken with a significant pinch of salt given that she’s currently on Ripple’s payroll.

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As reported by U.Today, the San Francisco-based company added her to its Board of Directors in early May.

Kraken CEO Jesse Powell took a veiled swipe at Rios and Ripple in response to the recent effort to promote XRP:  

If you were wondering where some of these politicians get their ideas. We aren’t all on the same team, and we don’t all have the same goals. Don’t forget that.

In March, Powell opined that XRP started posing a “huge asymmetrical risk” to exchanges after Ripple was sued by the U.S. Securities and Exchange Commission last December.

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Ripple Price Analysis: XRP bounces from $0.90, ready for further upside today?

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  • Ripple price analysis is bullish for today.
  • XRP/USD found support above $0.90 again.
  • XRP is set to rally high today.

Ripple price analysis is bullish today as another retest of the further downside was met with rejection, indicating an upcoming reversal. Since XRP/USD saw a bullish momentum return this morning, we expect this to continue later today, with the $1 mark likely to be broken again.

Ripple Price Analysis: XRP bounces from $0.90, ready for further upside today? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded mostly in the green over the last 24 hours. The market leader, Bitcoin is up by 6.59 percent, while Ethereum has spiked by 11.6 percent. The rest of the top altcoin follow, with a gain of around 7-9 percent.

Ripple price movement in the last 24 hours: Ripple rallies from $0.90 support again

XRP/USD traded in a range of $0.8948 – $0.9815, indicating a substantial amount of volatility over the last 24 hours. Trading volume has increased by 7.76 percent and totals $3.342 billion, while the total market capitalization trades around $45.13 billion, ranking the coin in 6th place overall.

XRP/USD 4-hour chart: XRP starts to move higher

On the 4-hour chart, we can see the Ripple price action gaining strength this morning, indicating further upside will follow today.

Ripple Price Analysis: XRP bounces from $0.90, ready for further upside today?
XRP/USD 4-hour chart. Source: TradingView

The overall market price action has traded within a strong bearish momentum over the past weeks. After an initial spike lower on the 7th of September, support was found around the $1.05 mark.

Above the support, XRP/USD consolidated for several days until another spike lower was seen on the 20th of September. This time, support was found above $0.85, with some consolidation above $0.90.

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Later last week, the support was retested several times, with the last one, seen yesterday, quickly rejecting any further downside, indicating exhaustion for bears. Overall, this Ripple price action development should lead towards further upside later this week.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bullish today as a further downside was rejected again yesterday, and bulls have gathered strengths for a small rally this morning. Therefore, we expect to see XRP/USD reach further upside over the next 24 hours.

While waiting for Ripple to move further, read our guides on NFT Games, CoinJar, as well as Bitcoin Memes.

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Ripple’s Use Case Stand Out While Others Remain Speculative

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  • Ripple and SEC legal talks continue.
  • XRP provides great cross border payments.

The Securities and Exchange Commission (SEC) and Ripple (XRP) legal talks in the US continue to heat up. As a result, these issues have become one of the most talked-about topics in the crypto world. Recently, the CEO of Ripple, Brad Garlinghouse, insisted that the SEC has provided no clarity in crypto regulation and has lost sight of its mission to protect investors.

Despite this ongoing heated debate between SEC and Ripple, XRP continues to provide global service to all its users. This made Rosie Rios, the 43rd Treasurer of the United States, react in a tweet she posted:

This tweet posted by Rose Rios on Twitter speaks about the clear use case of XRP. In detail, XRP is one of the digital assets in the crypto world that provides a good use case for cross-border payments. The fast, secured, and low transaction fee is one of the highlights of XRP’s blockchain.

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However, not all digital assets are like Ripple. Other cryptos use cases remain in speculation. As a result, authorities in other countries can’t help but tighten their security against these crypto assets. For instance, China, in the past days, released a statement about its continued crypto ban.

Today, Ripple trades a decent price of $.97 per crypto with a market cap of over $45 billion. In terms of market position, Ripple remains one of the top ten digital assets in the crypto market.

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