Ripple (XRP) News – Ripple (XRP) breaks below $ .39 amidst xCurrent update

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Ripple (XRP) is often in the news due to the fundamental developments. Recently as well, it launched an xCurrent update. However, it is not been able to isolate itself from the recent correction as well. This is actually a problem. It has fallen below a crucial level as well.

Ripple (XRP) breaks below $ .39 amidst xCurrent update:

In the last couple of months, when Bitcoin (BTC) was stable, Ripple (XRP) had fallen to $ .39 in the interim. However, after that, it had risen swiftly as well and it has risen all the way up to $ .54 as well. In the current correction, however, it has broken those levels. Thus, when you look at it on a two-month basis, you will realize that it has been trading at the lowest levels. This is one of the main technical problems which ripple (XRP) is facing currently.

Normally, Ripple (XRP) has been able to avoid a correction by and large due to the fundamental news which it releases often. However, this time around it has not benefited ripple. Recently, it announced that it has updated the xCurrent protocol. However, even after the update, it seems like the traders are not looking to buy Ripple (XRP).

Another aspect of the update is that in spite of its release, it is not being used by the current xCurrent customers. That is why; the traction has been pretty limited as well. It remains to be seen whether the customers start using it sooner than later or whether the update receives the same traction as the main xCurrent product.

The problem is that since it is trading at a two-month low and the cryptocurrencies are still trading in the red, it can easily lose value as well. Owing to this very reason, it can head down even lower to $ .27. Currently, it is trading around $ .34. Thus, if it falls to $ .24, it will lose another 30% from these levels. This will again be a significant amount of erosion.

Thus, this time around, the fundamental developments in ripple (XRP) are actually not helping it stay in the green. In fact, it has already fallen significantly and since it has broken the support level as well, there are chances that it might end up falling even more in the future. It remains to be seen where does the current correction finally stops. For now, it surely seems to be in choppy waters.

About Priya 131 Articles
I am an IT engineer by qualification and like to explore the crypto and blockchain space in my free time.

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