The current cryptocurrency exchange rate may differ slightly between cryptocurrency exchanges. This difference is due to the individual characteristics of each exchange, and the most important of the factors are the users and the amount of trading volume they produce.
Ripple (XRP) Price
The current exchange rate of the Ripple (XRP USD) today is 0.99 USD which means that in the last 24 hours, the XRP exchange rate has changed its value by 2.96%.
Price XRP PLN in 24 hours
In the Polish market – Ripple (XRP PLN) – is valued at 4.03 PLN, which means that XRP PLN has changed by 2.91%.
XRP Price Prediction
The price of the Ripple could rise from the serial triangle to $1.029. The Ripple price is currently showing an increasing trading volume, as shown in the four-hour chart.
Even so, its price has been pushed below the simple 100-day moving average (SMA) by limiting recent price-pushing efforts.
However, the bulls seem to be back on the scene, and now an expected increase in buying pressure behind the international remittance badge will probably allow the bulls to crack above the general resistance around $0.9236, which embraces the 200 SMA.
This will confirm a strong uptrend, after which Ripple could reach 18% to note the high range of November 30 around $1.029.
The exact time frame highlights the potential uptrend with a market signal from the SuperTrend. The SuperTrend follows the trend of an asset, such as moving averages, but as it overlaps the chart, it calculates volatility, sending out buy and sell signals.
Note that a daily closing below the price allows SuperTrend to change from red to green and return below the price, thus sending an upward signal.
A flying signal will appear when SuperTrend moves above the value and turns red. The upward trend will continue as long as the market signal is maintained in the Ripple chart.
In addition, the Moving Average Convergence Index (MACD) sent a ripple signal indicating the possibility of an upward price action to take root in the short term.
This happened earlier during the Asian session on Monday, when the 12-period Exponential Moving Average (EMA) crossed the 26-day EMA, adding credibility to the XRP’s uptrend.
The Relative Strength Index (RSI) brings the possibility of a price correction to take root in the short term. This comes with the RSI moving sharply away from the overbought area. This suggests that bears are stronger than bulls at the moment, and the price of Ripple could continue to fall in the short term.
What is Ripple’s offer?
The XRP offer was set from top to bottom at 100,000,000,000. All the tokens have been excavated and put into circulation proportionally by Ripple. Currently, the data source shows 46,244,517,593 XRPs in circulation, which is not even half of the maximum bid (46%).
The amount of XRP will be reduced
XRP is a deflationary currency – every transaction burns a certain, very small amount of digital money. The deflationary nature of XRP affects its exchange rate, and certainly, the highest value of the currency ATH will multiply over time.
So far, almost 10,000,000 XRPs have been burned through transfers in this cryptocurrency.
Factors affecting the XRP Exchange rate
The XRP exchange rate is vulnerable to falls, but as is the case with cryptocurrencies – volatility is no stranger to this.
The graph depicts the continuous increase in value since the introduction of this cryptocurrency in the stock exchanges. In 2017 the price of XRP surprised users and increased by 36,000%!
What factors affect the exchange rate fluctuations of this currency?
Collision with the Securities and Exchange Commission: At the end of 2020, Ripple’s ongoing battle with the US Securities and Exchange Commission (SEC) began.
The case concerns the SEC’s perception of XRP, as the Commission insists that XRP is a security and should be registered as an investment contract.
The community has taken the XRP lawsuit as an attack on cryptocurrencies and sided with them. However, skeptics have argued that XRP denies the free ideas behind cryptocurrencies.
Opinion of the cryptography community: Pivotal XRP counter BTC’s free idea, which worries many cryptographers. Exchange customers are often not bothered by the ideas and philosophies behind cryptocurrencies.
Which translates into high trading volumes despite the meager value of a particular cryptocurrency. The XRP market liquidity is strong, which makes you notice the number of cryptocurrency enthusiasts.