XRP/USD end the trading week at 0.9653 and continue to move as part of the correction and the formation of the “Wedge” reversal pattern. Moving averages indicate a bullish trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers and a potential continuation of the growth of the cryptocurrency from the current levels. At the moment, we should expect an attempt to develop a correction and a test of the support area near 0.7205. Where can we expect a rebound again and a continuation of the rise of the cryptocurrency to the area above the level of 1.6505.
Cryptocurrency XRP Forecast October 4 — 8, 2021
An additional signal in favor of the growth of XRP quotes in the current trading week October 4 — 8, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the “Wedge” pattern. Cancellation of the growth option for the Ripple cryptocurrency will be a fall in prices and a breakdown of the 0.6505 area. This will indicate a breakdown of the support area and a continued fall in XRP/USD quotes with a target below the level of 0.5005. Confirmation of the growth of the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the 1.1665 area.
Cryptocurrency XRP Forecast October 4 — 8, 2021 suggests an attempt to test the support level near the 0.7205 area. Where can we expect the continued growth of quotations with a potential target at the level of 1.6505. An additional signal in favor of a rise in XRP value will be a test of the trend line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be the breakdown of the 0.6505 area. This will indicate a continued decline with a target below 0.5005.
Solana Climbing Ranks — Finally Flipped XRP
- Altcoin Daily tweeted some good news for the Solana community last night.
- According to the tweet, SOL has flipped XRP.
- At the time of writing, SOL is now at rank 6 while XRP is at 7th in CoinMarketCap.
It is indeed a good morning for the Solana community. Altcoin Daily, one of the most followed accounts regarding crypto news, sparked a conversation on Twitter last night. In the tweet, Altcoin Daily announced that Solana has flipped XRP.
The Twitter crypto space shared varied opinions on the matter. Most are glad to hear the news and some even speculate that Solana (SOL) will continue to grow. There is one user (@ishcoindaytrade), who seems to be a big SOL enthusiast who said: It’s coming for #Cardano next! Wouldn’t surprise me if $SOL flips $ADA by the end of the month. Next target — $BNB.
This image above clearly shows SOL has now flipped XRP. Evidently, it is now at the 6th spot in the Top 10 Today’s Cryptocurrency Prices by market cap in CoinMarketCap. Similarly, Solana bullish with a 2.28% increase for the past 24 hours and now trades at $207.76.
On the other hand, Ripple (XRP) also shows green signs that indicate its growth as well. As seen in the image above, it increased by 2.53% in the past 24 hours and now trades at $1.12. This remarkable feat of Solana has surely given a more solid reason for its community to remain faithful to the digital asset. As one of the fastest-growing blockchain networks today, the public can only wait and see how Solana will reach greater heights in the future
XRP Price Hovers Around $1! Here’s When XRP Might break The $1.5 Level ?
Bitcoin price is aiming for an upside break above $63,000. While Ethereum surpassed the $4,200 resistance, major altcoins are showing positive signs.
For quite some time, the price of XRP has been consolidating around $1. The range appears to be narrowing, and a breakthrough appears to be approaching.
XRP Price Action
After plunging below $1.10 XRP/USD is currently moving sideways to test support at the $1.04 level. At present, the support near $1 is holding well, and altcoin is testing the resistance at the $1.2 pivot level.
Meanwhile, a break above the pivot level may most likely take XRP/USDT price above the potential $1.25 followed by $1.30, and $1.35 resistance levels in case of an extended rally.
XRP to test resistance at $1.24, but clearing this will open the path to $1.43. In an extremely bullish market sentiment, the crypto could extend gains and retest $1.67 or $1.84, with a nearly 67% gain.
On the Downside, if the XRP price fails to hold above $1.2, the altcoin might drop to a $0.95 support level.
Sec Vs Ripple Deadlock
The current legal dispute that Ripple is engaging in with the US regulator continues to stymie the company’s favorable correlation with Bitcoin pricing. The matter is still pending since the court recently granted the SEC’s request for an expert discovery extension. This is a two-month extension.
The Ripple team isn’t happy with the decision, claiming that the extension will cause Ripple markets in the US to become even more frozen. Ripple alleges that practically all digital exchanges in the United States have stopped trading Ripple pairs, causing the token’s company to suffer “severely” and allowing Ethereum to overtake it as the second most valued cryptocurrency.
Investors are currently focusing their attention on other combinations that have the potential to deliver gains. Holders of the XRP token will now be looking for returns based on the pattern.
XRP Now Accepted by FRIETSHOP Wetteren Restaurant in Belgium
Ripple-affiliated XRP cryptocurrency is now accepted as payment in Belgian restaurant FRIETSHOP Wetteren as crypto adoption spreads wider
According to a tweet posted on the Twitter handle of the Belgian restaurant FRIETSHOP Wetteren, it started to take XRP as payment for meals on Monday.
XRP adoption slowed down by SEC’s legal suit
The tweet was shared by prominent XRP community member @MackAttackXRP. Thus, the adoption of XRP continues. This past summer, CoinDesk reported that XRP, as well as the two biggest cryptos – Bitcoin and Ethereum – would be accepted by Paraguay’s Universidad Americana as payment for educational courses and scientific degrees.
XRP adoption seems to be slowed down due to the legal suit brought by the U.S. Securities and Exchange Commission against Ripple Labs, as well as two of its highest ranking executives – the CEO and the co-founder – in December of last year.
In January, multiple crypto exchanges turned their backs on this cryptocurrency, suspending XRP trading. Among these exchanges are Coinbase, Binance U.S., Bittrex and Bitstamp.
The XRP community has been posting frequent tweets addressing Coinbase with requests to resume XRP trading, but the coin has not been reinstated on this platform yet.
Brian Armstrong supports Ripple and XRP
However, as reported by U.Today earlier, Coinbase CEO and co-founder Brian Armstrong has posted a series of tweets. In them, he expressed support for Ripple and XRP in the legal war against the SEC.
In August, the U.S. securities and exchange regulator threatened to take Coinbase to court as well, over the lending product the crypto exchange was readying to launch to the market.
The new app was meant to offer users a chance to lend their USDC to other users and earn interest on that. However, the SEC contacted Coinbase, stating that the new LEND app was an unregistered security (the same accusation leveled at Ripple over XRP) and threatened to sue the platform.
Armstrong then tweeted that the regulator had allowed multiple other crypto players to launch a similar product but threatened to sue only Coinbase. According to him, Coinbase is happy to comply with any clear law or set of rules in this sphere. However, the SEC has offered none and is ignoring Coinbase’s questions as to why the new crypto lending feature may happen to be an unregistered security.