{"id":554571,"date":"2023-10-09T06:33:27","date_gmt":"2023-10-09T06:33:27","guid":{"rendered":"https:\/\/wncen.com\/?p=554571"},"modified":"2023-10-09T06:33:27","modified_gmt":"2023-10-09T06:33:27","slug":"xrp-journey-to-0-55-is-a-breakthrough-imminent-in-the-coming-days","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/xrp-journey-to-0-55-is-a-breakthrough-imminent-in-the-coming-days\/","title":{"rendered":"XRP Journey To $0.55: Is A Breakthrough Imminent In The Coming Days?"},"content":{"rendered":"

XRP has been in the spotlight recently as it exhibits intriguing price dynamics. Amidst the turbulent waters of the crypto market, XRP seems to be carving out a path towards a significant upswing. Early last week, it faced yet another pullback from the stubborn resistance level at $0.55, a steadfast battlement that has thwarted crypto buyers repeatedly in the past two months.<\/span><\/p>\n

The $0.55 resistance level has proven to be a tough barrier for XRP enthusiasts, with four unsuccessful attempts to breach this significant threshold. Each time, rejection candles have punctuated the charts, underscoring the determination of sellers to maintain their defensive stance.\u00a0<\/span><\/p>\n

However, amidst this persistent standoff, there is a glimmer of hope in the form of a steadily ascending support trendline, acting as a protective barrier against deeper price plunges. This intriguing interplay between resistance and support is indicative of the formation of an ascending triangle pattern, a <\/span>potential sign of bullish continuation<\/span><\/a>.<\/span><\/p>\n

Related Reading: Trillions In Shiba Inu On The Move: What Lies Ahead For The Meme Coin?<\/a><\/div>\n

XRP\u2019s Rejection Candles: The Formation of an Ascending Triangle<\/strong><\/h2>\n

An ascending triangle is a technical chart pattern characterized by a rising support trendline and a horizontal resistance level. It suggests that as the price nears the apex of the triangle, buyers could regain their enthusiasm, potentially propelling the coin upwards and maintaining its lateral movement.<\/span><\/p>\n

Currently, XRP is trading at approximately $0.517198 on <\/span>CoinGecko<\/span><\/a>, with a minor 24-hour decline of 1.0% and a seven-day loss of 1.2%. These fluctuations are part and parcel of the cryptocurrency market’s inherent volatility, and the formation of the ascending triangle adds an intriguing dimension to XRP’s price action.<\/span><\/p>\n

\n

1\/ Extensive performance testing of the XLS-30 #AMM<\/a> has now been completed.<\/p>\n

XLS-30 is a proposed amendment as part of the rippled 1.12.0 upgrade. If adopted, it will bring automated swap, trading, and liquidity provisioning capabilities to the #XRPLedger<\/a>.https:\/\/t.co\/Cz1w76uc8c<\/a><\/p>\n

\u2014 RippleX (@RippleXDev) October 6, 2023<\/a><\/p><\/blockquote>\n

In addition to the technical aspects, recent data from an <\/span>XRP report<\/span><\/a> has revealed a noteworthy surge in XRP’s active addresses. On October 8, active addresses surged to 24,400, a significant increase from the previous day’s figure of just 13,100. This surge indicates that over 10,000 additional users decided to engage with the XRP blockchain, a development that has caught the attention of market observers.<\/span><\/p>\n

<\/p>\n

XRP market cap currently at $27.4 billion on the daily chart: TradingView.com<\/a><\/pre>\n
XRP’s Potential Evolution<\/strong><\/h2>\n
The surge in active addresses may be linked to RippleX’s recent announcement. On October 6, RippleX, the developer arm of the Ripple network and the XRP Ledger (XRPL), <\/span>confirmed<\/span><\/a> the successful completion of performance testing for XLS-30 AMM (Automated Market Maker).<\/span><\/p>\n
Related Reading: Assessing Cardano\u2019s Struggles: Will Key Support Levels Halt The Decline Above $0.27?<\/a><\/div>\n
The journey of XLS-30 began around July, with the blockchain community proposing to enhance the XRP Ledger by introducing features to facilitate liquidity provision, trading, and automated swaps on XRPL.<\/span><\/p>\n
For some industry participants, this development signifies that XRPL is evolving into a full-fledged decentralized finance protocol, potentially unlocking new possibilities for XRP and its community. XRP enthusiasts will undoubtedly be watching closely to see how these dynamics unfold.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from 9P Online<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
XRP has been in the spotlight recently as it exhibits intriguing price dynamics. Amidst the turbulent waters of the crypto market, XRP seems to be carving out a path towards a significant upswing. Early last week, it faced yet another pullback from the stubborn resistance level at $0.55, a steadfast battlement that has thwarted crypto buyers repeatedly in the past two months. The $0.55 resistance level has proven to be a tough barrier for XRP enthusiasts, with four unsuccessful attempts to breach this significant threshold. Each time, rejection candles have punctuated the charts, underscoring the determination of sellers to maintain their defensive stance.\u00a0 However, amidst this persistent standoff, there is a glimmer of hope in the form of a steadily ascending support trendline, acting as a protective barrier against deeper price plunges. This intriguing interplay between resistance and support is indicative of the formation of an ascending triangle pattern, a potential sign of bullish continuation. Related Reading: Trillions In Shiba Inu On The Move: What Lies Ahead For The Meme Coin? XRP\u2019s Rejection Candles: The Formation of an Ascending Triangle An ascending triangle is a technical chart pattern characterized by a rising support trendline and a horizontal resistance level. It suggests that as the price nears the apex of the triangle, buyers could regain their enthusiasm, potentially propelling the coin upwards and maintaining its lateral movement. Currently, XRP is trading at approximately $0.517198 on CoinGecko, with a minor 24-hour decline of 1.0% and a seven-day loss of 1.2%. These fluctuations are part and parcel of the cryptocurrency market’s inherent volatility, and the formation of the ascending triangle adds an intriguing dimension to XRP’s price action. 1\/ Extensive performance testing of the XLS-30 #AMM has now been completed. XLS-30 is a proposed amendment as part of the rippled 1.12.0 upgrade. If adopted, it will bring automated swap, trading, and liquidity provisioning capabilities to the #XRPLedger.https:\/\/t.co\/Cz1w76uc8c \u2014 RippleX (@RippleXDev) October 6, 2023 In addition to the technical aspects, recent data from an XRP report has revealed a noteworthy surge in XRP’s active addresses. On October 8, active addresses surged to 24,400, a significant increase from the previous day’s figure of just 13,100. This surge indicates that over 10,000 additional users decided to engage with the XRP blockchain, a development that has caught the attention of market observers. XRP market cap currently at $27.4 billion on the daily chart: TradingView.com XRP’s Potential Evolution The surge in active addresses may be linked to RippleX’s recent announcement. On October 6, RippleX, the developer arm of the Ripple network and the XRP Ledger (XRPL), confirmed the successful completion of performance testing for XLS-30 AMM (Automated Market Maker). Related Reading: Assessing Cardano\u2019s Struggles: Will Key Support Levels Halt The Decline Above $0.27? The journey of XLS-30 began around July, with the blockchain community proposing to enhance the XRP Ledger by introducing features to facilitate liquidity provision, trading, and automated swaps on XRPL. For some industry participants, this development signifies that XRPL is evolving into a full-fledged decentralized finance protocol, potentially unlocking new possibilities for XRP and its community. XRP enthusiasts will undoubtedly be watching closely to see how these dynamics unfold. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from 9P Online<\/p>\n","protected":false},"author":557,"featured_media":554574,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1144,8686,4735,3680,4531],"class_list":["post-554571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-btcusd","tag-ethusd","tag-price-action","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\nXRP Journey to $0.55: Is a Breakthrough Imminent?<\/title>\n<meta name=\"description\" content=\"XRP has been in the spotlight recently as it exhibits intriguing price dynamics. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. 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. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Journey To $0.55: Is A Breakthrough Imminent In The Coming Days?","url":"http:\/\/wncen.com\/news\/xrp-journey-to-0-55-is-a-breakthrough-imminent-in-the-coming-days\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/xrp-journey-to-0-55-is-a-breakthrough-imminent-in-the-coming-days\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/a-30.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/a-30.png?fit=683%2C288"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","btcusd","ethusd","price action","ripple","xrp"],"dateCreated":"2023-10-09T06:33:27Z","datePublished":"2023-10-09T06:33:27Z","dateModified":"2023-10-09T06:33:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Journey To $0.55: Is A Breakthrough Imminent In The Coming Days?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-journey-to-0-55-is-a-breakthrough-imminent-in-the-coming-days\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-journey-to-0-55-is-a-breakthrough-imminent-in-the-coming-days\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/a-30.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/a-30.png?fit=683%2C288\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"btcusd\",\"ethusd\",\"price action\",\"ripple\",\"xrp\"],\"dateCreated\":\"2023-10-09T06:33:27Z\",\"datePublished\":\"2023-10-09T06:33:27Z\",\"dateModified\":\"2023-10-09T06:33:27Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/a-30.png?fit=683%2C288","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/554571"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=554571"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/554571\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/554574"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=554571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=554571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=554571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}