Four reasons why XRP price could set new-all time high above $5

0.1% of every XRP20 transaction will be sent to a burn address, and an additional 10% off the token supply has been allocated to be burned. The token has already raised $682K in the presale in just 4 days and is well on its way to hitting the $700K mark. In light of Ripple’s latest struggles, investors are now looking at alternate opportunities for superior returns, with the new XRP20 token stealing why is xrp price so low the spotlight. The Ripple CTO David Schwartz has recently debunked claims that Ripple would prefer to see the price of XRP low for its payment offerings, branding it nonsensical. A watchful eye must be cast on the XRP 4-hour price chart, which currently hints at a potential floor of around $0.58. If this critical support crumbles, XRP could witness a deeper correction, plunging to $0.51, a 15% drop.

At the same time, of course, Bitcoin was cruising to an all-time high of $69,000. However, investing in digital currencies is always uncertain as the crypto https://www.tokenexus.com/ market is unpredictable. Despite this, forecasts for Ripple’s value are largely positive, and shows that we may see an uptrend in value in the future.

Technical analysis: XRP price could sweep liquidity at $0.56 and begin recovery

First and most importantly, Ripple needs to wind up its court case with the SEC. Until there is a final settlement of some sort with the SEC, regulatory risk will continue to hang over the company. That will make it very difficult for it to move forward with new strategic initiatives related to its Ripple payment platform.

According to Ripple escrow wallet tracker XRPArcade, Ripple unlocked a total of 5 billion XRP so far in 2020—equivalent to five percent of the total supply. But, it’s still not clear exactly how much of this made its way onto third-party exchanges. (After publishing, Ripple contacted us to say that the firm only made $1.75 million in direct institutional sales and the rest went back into its own escrow accounts). Increased adoption of cryptocurrency is good news for the crypto industry indeed. The more the market grows, the more likely it is to be viewed as a good investment. As fiat money declines in power, the crypto market is expected to rise, creating an opportunity for many traders to profit from it.

Jito price confirms 55% breakout rally after recent JTO dip

Consequently, XRP’s performance in October reflects a 2.68% decrease, erasing earlier gains. Considering this decline in the context of XRP’s recent price action is important. Between February 23 and March 11, XRP price significantly surged, climbing from $0.53 to $0.73 – a remarkable 37% increase in less than three weeks. This rapid price appreciation might have triggered profit-taking from investors who capitalized on the market momentum. A 4-hour candlestick close above the psychologically important $0.60 level could invalidate the thesis of an initial decline in XRP. The altcoin could rally towards the FVGs and fill the inefficiencies on both the 4-hour and daily timeframes.