Today, $XRP broke the highest historical peak recorded before, which is at a price of 3.4 dollars. Despite the rise in all positive indicators, it suggests increases at this stage that could reach 5 - 7 dollars or more โค๏ธ #xrp #Ripple
Officially The legal battle between the SEC and Ripple has ended!
After years of dispute, the U.S. Securities and Exchange Commission has finally backed down and withdrawn its appeal against Ripple unconditionally, and Ripple, in turn, has withdrawn its counter-appeal.
#Technical_Analysis of#Ripple(XRP) ๐ฅ๐ฐ ๐น General Trend: Ripple (#XRP) is showing strong bullish momentum as it trades within a clear bullish price channel.
๐น Fibonacci Levels:
The critical support at 1.618#Fibonacci= $2.03 represents a strong retracement area.
The next resistance at 2.618 Fibonacci = $2.65 is the first target if the rise continues.
The Fibonacci extension at $3.70 indicates a potential bullish target in the medium term.
๐น#Supportsand #Resistances: โ First support: $2.03 (potential retracement area). โ Second support: $1.63 (bottom of the price channel). ๐ First resistance: $2.65 (breaking it confirms the continuation of the rise). ๐ Second resistance: $3.70 (next target in the uptrend).
๐น Price channel:
Ripple is moving within a clear ascending channel that supports the continuation of the positive trend, provided that trading is maintained above the main support of $2.03. ๐น Expectations:
If trading continues above $2.42, the price may target the resistance of $2.65 in the short term.
Breaking the support at $2.03 may lead to a deeper correction towards $1.63.
๐ Note: Positive momentum supports the continuation of the uptrend, but caution is required in overbought areas or corrections.
Ripple (#Ripple) is a financial technology company founded in 2012 by Chris Larsen and Jed McCaleb, aiming to facilitate cross-border money transfers quickly and efficiently. The company has developed a protocol known as the Ripple Transaction Protocol (RTXP), which is an open source system based on a distributed ledger. The digital currency XRP is used as an intermediary to facilitate the transfer of different currencies and reduce transfer costs.
The project aims to speed up international money transfers: reducing the transfer time from several days to a few seconds.
The project also aims to reduce the fees associated with traditional money transfers.
The Ripple network operates on a system called the Ripple Distributed Transfer Ledger, where transactions are secured by a group of auditors.