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XRP Price Could Extend Correction Before Fresh Rise!


Despite a minor drop in the last 24 hours, the cryptocurrency market saw significant gains over the weekend. The XRP coin is currently trading in the green, with a strong bullish trend emerging from the lower levels. XRP price increased in value from 96 cents to $1 on Friday. It is currently trading at $1.03.


XRP Price Action:

Ripple’s XRP plummeted to an intraday low of $1.02 this morning before making a rise, tracking the overall market. The altcoin soared to a late intraday high of $1.09 after staying clear of the first key support level around $1.0074. 

XRP/USD trading pair surpassed the $1.05 level, but it failed to break the $1.08 resistance and the price is now correcting lower.

There was a break below the $1.05 level. On the downside, initial support is near the $1.020 followed by the $0.9800 level.

XRP price prediction
trading view

The 7th largest crypto might hit resistance at $1.15 before any reversal if the coin continues to climb. The $1.1224 level is the second significant resistance level. 

In case, XRP price rebounds and breaks the initial hurdle is near the $1.05 level, The next key resistance is near the $1.08 level. A close above the $1.08 could set the pace for more gains.

However, XRP/USD should avoid falling below $0.95 unless there is a prolonged sell-off. The downside should be limited by the second major support level at $0.9889. 

Also Read : Green Cardano Could Rise ADA Price As High As $10, But When?

XRP Network Activity:

There is a spike in XRP network activity due to huge whale transfers. On October 2 XRP accounts began transferring the world’s 7th most valuable digital asset from crypto wallets to exchanges. Whale Alert, a well-known blockchain tracking service, has revealed a $41 million transaction involving the transfer of 40 million XRP coins. 

In a different transaction 15 million XRP we’re transferred from an unknown wallet to Binance.

On October 3, 2021, the XRP millionaire wallet completed a transaction for $20.9 million in a separate transaction. The crypto whale sent 20 million coins from an undisclosed wallet to Coinsph.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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