XRP Price Analysis August 2022

XRP is a token of platform XRP LEDGER. Its current price is around $0.3733 by the time of writing, with a low of $0.2906, and has a market cap of 18.3 billion dollars.

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What is XRP LEDGER?

XRP is a type of cryptocurrency designed to make transactions on the network faster and cheaper than possible. These transactions are also trustworthy and await confirmation for a few seconds without requiring excessive trust from someone you’re dealing with.

XRP LEDGER’s main service is a payment settlement platform and remittance solution, like SWIFT, for international money transfers. In addition, it lets banks and other financial organizations deal with cryptocurrency without worrying about currency exchange rates.

What is XRP?

XRP is the coin of the XRP LEDGER platform, which is around $0.3733 by the time of writing, with a low of $0.2906. It reached a high of $1.41, and its current ranking is #7 according to CoinMarketCap, with a market cap of 18.3 billion dollars.

XRP is the ‘native cryptocurrency’ used within XRP LEDGER’s setups, designed to work in payment settlement, remittance, and asset exchange methods which are experienced much more like SWIFT.

XRP Coin Market Analysis 

XRP has a total supply of 99,989,371,889 coins worth around $0.3733 with a market volume of 934 million dollars, whereas the market capitalization is 18.3 billion dollars at writing. However, you may wait a few months before investing in XRP because the final SEC judgment may affect the coin’s value.

XRP Price Prediction

XRP LEDGER is trapped in the $0.3-$0.39 range. It’s been there for a while, and the price doesn’t seem to be able to break out of this range. Clearing this resistance level would help things get back on track and likely result in an upswing.

On the 1D timeframe, the price action of $XRP/USDT consolidates inside the flag. We have to wait for a successful breakout or breakdown.

On-demand analysis on $XRP or any other coin can join our Telegram channel anytime.

Xrp Price Chart August 2022Xrp Price Chart August 2022
XRP Price Chart August 2022

Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

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