Azeez Mustapha is a specialist in Computer Studies (including DTP), Forex and Crypto trading professional. Being expert technical and currency analyst, as well as experienced fund manager and author of several books, Azeez places strong focus on crypto market studies conducting comprehensive price analyses and sharing forecasts of presumptive market trends.
With all of the developments evolving around Ripple and its RippleNet, XRP has become a preferred crypto asset to complement the global economy. Check out what’s most likely to lie ahead of the coin.
Ripple co-founder Chris Larsen said he thought digital assets such as XRP would play a major role in the movement of money around the world. Recently, Larsen discussed the role of digital assets in the economy and the regulatory environment that must exist to advance blockchain and crypto.
Ripple is the blockchain that has the highest number of transactions recorded on its blockchain in recent days. Having 1,151,101 more transfers which were almost 54% higher than the transactions executed on Ethereum, the finalist of transactions recorded on its chain in the last 24 hours. Ripple’s transaction fees were also lower than those of Ethereum, suggesting that its fees could be one of the main reasons why users prefer XRP.
CEO of Crypto Exchange CoinField says XRP is the best choice for the company’s new tokenized trading platform, Sologenic. Ras stated that the company has considered several distributed ledger platforms, including Ethereum and Stellar, and has decided that XRP possesses the best combination of speed and utility. Without been biased, XRP has one of the blockchain networks that’s very fast. It can transfer funds from one point to another in seconds. And it’s very, very inexpensive.
Meanwhile, the XRP Ledger provides you with all the tools that are required to build your personalized financial ecosystem.
With this positive outlook, XRP has become a digital asset that makes it easy to move from one valuable asset to another. The XRP has, therefore, become a preferred crypto asset to complement the global economy critically, to facilitate the movement of funds between economies, which in turn strengthens its adoption and increases the price of the coin in the long run.
Selling is Gaining Ground as XRP/USD Discovers Support at the Key Zone
Supply Levels: 0.2636, 0.2501, 0.2126;
Demand Levels: 0.4934, 0.4082, 0.3273
After trending to the 0.2495 level during the day, XRP is expected to rebound above the key technical support area on the 0.2501 level. Not exceeding the support level could increase the importance of the level as support progresses.
Earlier in the day, the digital currency had attempted to climb while trading at the level of 0.2593, the price of XRP was trading in the range of the previous day, unable to keep its gain above the previous day’s high or below the minimum of the previous day while maintaining its daily bias.
The bids may accelerate if its price was above the resistance near the level of 0.2636, where other orders may be activated. The trend of XRP/USD is bearish, maintaining an intact downtrend in the short, medium and long term.