{"id":545813,"date":"2023-08-04T18:05:29","date_gmt":"2023-08-04T18:05:29","guid":{"rendered":"https:\/\/wncen.com\/?p=545813"},"modified":"2024-06-12T09:27:20","modified_gmt":"2024-06-12T09:27:20","slug":"xrp-performance-woes-how-might-its-price-respond-to-current-market-realities","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/xrp-performance-woes-how-might-its-price-respond-to-current-market-realities\/","title":{"rendered":"XRP Performance Woes: How Might Its Price Respond To Current Market Realities?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">XRP experienced a surge after Ripple Labs&#8217; recent legal win against the US Securities and Exchange Commission, marking a partial victory. Nonetheless, the pace of this upswing has moderated in recent weeks, encountering notable resistance and initiating a downward trajectory.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">With the latest data from\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.coingecko.com\/en\/coins\/xrp\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">CoinGecko<\/span><\/a><span data-preserver-spaces=\"true\">, the XRP value registers at $0.658512. This shows a 1.1% contraction over the preceding 24 hours and a notable seven-day decline of 7.4%.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/all\/all-hype-bald-meme-coins-volume-shaved-by-96\/\" target=\"_blank\" rel=\"noopener \">All Hype? BALD Meme Coin\u2019s Volume Shaved By 96%<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">During the height of its price surge after Ripple Labs&#8217; legal breakthrough, its coin encountered a rejection near the $0.95 threshold. This particular zone mirrors the level it reached back in March 2022 during its bearish decline. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This prompts the question of whether XRP is retracing its steps into a former range or if this constitutes a mere temporary retreat within an ongoing upward trend.<\/span><\/p>\n<h2><strong>XRP Dampening Sentiment<\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">Further impacting the prevailing sentiment around XRP, US District Judge Jed Rakoff has invalidated the approach taken in last month&#8217;s ruling concerning the SEC&#8217;s lawsuit against Ripple Labs.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to an\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/finbold.com\/xrp-price-prediction-as-crypto-prices-tank-will-it-drop-to-0-5-traders-are-turning-to-xrp20-instead\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">XRP price analysis<\/span><\/a><span data-preserver-spaces=\"true\">, the cryptocurrency has reached its zenith and is now poised to revisit its previous resistance level. Nonetheless, several crucial factors necessitate consideration beforehand.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">XRP is currently trading at the upper threshold of the expansive Bollinger Bands. While this signifies the potential for a retracement, it also signifies amplified volatility, indicating that any forthcoming pullback might manifest as notably severe.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/8lkPwSGB\/\" width=\"1835\" height=\"893\"><\/p>\n<pre style=\"text-align: center\">XRP price at $0.65 on the daily chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p><span data-preserver-spaces=\"true\">Furthermore, the Stochastic RSI illustrates that XRP has surged to the overbought threshold at 80. This suggests a corrective pullback is probable, given that the market&#8217;s buying strength is waning.<\/span><\/p>\n<h2><strong>Traders Turn To New Coin As Alternative<\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">Amid the recent challenges faced by XRP, numerous traders have shifted their focus toward an emerging alternative &#8211; XRP20. This new option has garnered attention due to its modest market capitalization and unique advantages that set it apart from the original XRP coin.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.youtube.com\/watch?v=r4A-L0V3sxU\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">insights shared by analyst Jacob Bury<\/span><\/a><span data-preserver-spaces=\"true\">, XRP20 holds significant potential for a price surge, leveraging the ongoing situation with XRP. The conventional XRP project has faced criticism for its centralized nature and the over-the-counter sales of XRP conducted by its founders.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/all\/shiba-inu-price-poised-to-reach-0-01\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Price Poised To Reach $0.01 With Shibarium Upgrade, These CEOs Say<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">In contrast, XRP20 stands out as a fully community-owned venture. It has allotted 40% of its tokens for presale, another 40% for staking rewards, earmarked 10% for DEX liquidity and plans to burn the remaining 10%. The coin is not affiliated with Ripple, XRP or their ecosystem, its website says.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">One of the distinctive features of XRP20 lies in its extensive marketing achievements. The project has gained notable coverage from various prominent media outlets, contributing to a successful presale round that raised a substantial $300K in two days. <\/span>This rapid fundraising underscores the growing interest and enthusiasm surrounding the coin within the trading community.<\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em>Featured image from iStock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>XRP experienced a surge after Ripple Labs&#8217; recent legal win against the US Securities and Exchange Commission, marking a partial victory. Nonetheless, the pace of this upswing has moderated in recent weeks, encountering notable resistance and initiating a downward trajectory. With the latest data from\u00a0CoinGecko, the XRP value registers at $0.658512. This shows a 1.1% contraction over the preceding 24 hours and a notable seven-day decline of 7.4%. Related Reading: All Hype? BALD Meme Coin\u2019s Volume Shaved By 96% During the height of its price surge after Ripple Labs&#8217; legal breakthrough, its coin encountered a rejection near the $0.95 threshold. This particular zone mirrors the level it reached back in March 2022 during its bearish decline. This prompts the question of whether XRP is retracing its steps into a former range or if this constitutes a mere temporary retreat within an ongoing upward trend. XRP Dampening Sentiment Further impacting the prevailing sentiment around XRP, US District Judge Jed Rakoff has invalidated the approach taken in last month&#8217;s ruling concerning the SEC&#8217;s lawsuit against Ripple Labs. According to an\u00a0XRP price analysis, the cryptocurrency has reached its zenith and is now poised to revisit its previous resistance level. Nonetheless, several crucial factors necessitate consideration beforehand. XRP is currently trading at the upper threshold of the expansive Bollinger Bands. While this signifies the potential for a retracement, it also signifies amplified volatility, indicating that any forthcoming pullback might manifest as notably severe. XRP price at $0.65 on the daily chart: TradingView.com Furthermore, the Stochastic RSI illustrates that XRP has surged to the overbought threshold at 80. This suggests a corrective pullback is probable, given that the market&#8217;s buying strength is waning. Traders Turn To New Coin As Alternative Amid the recent challenges faced by XRP, numerous traders have shifted their focus toward an emerging alternative &#8211; XRP20. This new option has garnered attention due to its modest market capitalization and unique advantages that set it apart from the original XRP coin. According to\u00a0insights shared by analyst Jacob Bury, XRP20 holds significant potential for a price surge, leveraging the ongoing situation with XRP. The conventional XRP project has faced criticism for its centralized nature and the over-the-counter sales of XRP conducted by its founders. Related Reading: Shiba Inu Price Poised To Reach $0.01 With Shibarium Upgrade, These CEOs Say In contrast, XRP20 stands out as a fully community-owned venture. It has allotted 40% of its tokens for presale, another 40% for staking rewards, earmarked 10% for DEX liquidity and plans to burn the remaining 10%. The coin is not affiliated with Ripple, XRP or their ecosystem, its website says. One of the distinctive features of XRP20 lies in its extensive marketing achievements. The project has gained notable coverage from various prominent media outlets, contributing to a successful presale round that raised a substantial $300K in two days. This rapid fundraising underscores the growing interest and enthusiasm surrounding the coin within the trading community. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from iStock<\/p>\n","protected":false},"author":557,"featured_media":545820,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,3,4],"tags":[142,1144,8686,4735,3680,13172],"class_list":["post-545813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","category-news","category-analysis","tag-altcoins","tag-btcusd","tag-ethusd","tag-price-action","tag-ripple","tag-xrp-price"],"acf":[],"yoast_head":"\n<title>XRP Woes: How Might Its Price Respond to Current Realities?<\/title>\n<meta name=\"description\" content=\"XRP experienced a surge after Ripple Labs&#039; recent legal win against the US Securities and Exchange Commission, marking a partial victory. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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