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Ripple Price Analysis: What to Expect in the Next 48 Hours

Published Jan 29, 2023 03:50 Updated Jan 29, 2023 04:15
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© Reuters. Ripple Price Analysis: What to Expect in the Next 48 Hours
 
XRP/EUR
+3.03%
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XRP/USD
+2.96%
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XRP/JPY
+3.13%
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XRP/EUR
+3.03%
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XRP/JPY
+3.13%
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XRP/GBP
+3.34%
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Coin Edition -

  • XRP’s price has dropped slightly in the last 24 hours.
  • The remittance token’s price is being squeezed by the 9-day EMA and a resistance level.
  • Technical indicators show that XRP’s price is at a decisive point.

Ripple is a technology that acts as both a cryptocurrency and a digital payment network for financial transactions. It was first released in 2012 and was co-founded by Chris Larsen and Jed McCaleb.

Ripple’s main process is a payment settlement asset exchange and remittance system, similar to the SWIFT system for international money and security transfers, which is used by banks and financial middlemen dealing across currencies.

The token used for the cryptocurrency is premined and utilizes the ticker symbol XRP. Ripple is the name of the company and the network, and XRP is the cryptocurrency token. The purpose of XRP is to serve as an intermediate mechanism of exchange between two currencies or networks – as a sort of temporary settlement layer.

Current Market Standing

Ripple (XRP) is ranked as the 6th biggest crypto by market cap, according to CoinMarketCap, and experienced a 24-hour drop in price of 0.60% to take its price down to $0.4104. This also puts its total market cap at approximately $20.85 billion at press time.

Despite the negative 24-hour performance of XR ...

The post Ripple Price Analysis: What to Expect in the Next 48 Hours appeared first on Coin Edition.

Ripple Price Analysis: What to Expect in the Next 48 Hours
 

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