Ripple Price Gains 1.8% to $0.734 – Where to Buy XRP
XRP is currently mimicking the trend of bitcoin and ethereum, and it has made significant gains this week. Even though some altcoins have registered higher gains, XRP’s steady growth has enabled it to move past critical resistance levels. The token is now headed towards recovering the levels lost in May’s crash.
XRP is trading at $0.734 at the time of writing after a 1.8% gain.
XRP Price Analysis
Ripple is fighting to reach the $0.75 resistance level and maintain at this level. Despite several attempts, XRP has failed to hold this level and has retreated to $0.73. $0.75 is crucial for XRP because it will gear up the token for strong bullish gains.
XRP bulls are pushing the token to reach $1. However, after facing rejection severally in the journey towards $0.80, the uptrend to $1 seems less likely, especially if market support remains low. BTC was once again rejected at $42K, while ETH is yet to reach $3K. Bitcoin and ethereum have to make massive upswings for XRP to reach $1.
XRP could drop to $0.70 to retest this support before gearing up for a bull run. However, if buying support fails to kick in at $0.70, XRP could return to trading at around $0.68 in the coming days.
GlobaliD Company and Uphold crypto exchange have partnered to develop an XRP card that MasterCard will service. The XRP card will allow users to spend various cryptocurrencies and receive a 5% XRP cashback, pushing for the adoption and popularity of the Ripple-affiliated crypto.
Ripple Labs also received another win in the ongoing case with the Securities and Exchange Commission. A judge granted the company access to Binance records. The records are intended to show that most XRP sales were outside the US; hence the SEC lacks jurisdiction in the matter.
The SEC is also in conflict with the Commodity Futures and Trading Commission (CFTC), where the latter believes that the SEC lacks the authority to regulate cryptocurrencies. In a tweet, CFTC Commissioner Brian Quintenz stated that the CFTC should regulate cryptocurrencies, a sentiment supported by the US House Committee of Agriculture through their official Twitter account.
.@CFTCquintenz is right, #crypto is bigger than the SEC.
Congress needs to write the rules of the road to protect investors AND innovation in the digital economy. https://t.co/vIzND3KY28
— House Ag GOP (@HouseAgGOP) August 4, 2021
Where to Buy Ripple
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