What is ripple?analysis on Ripple (XRP)

Ripple is the name of a payment network and the payment protocol which powers it. It was developed and released in 2012 by a company of the same name, in order to enable "secure, instant and nearly free global financial transactions". It is built on principles similar to those of Bitcoin, so many people consider it a cryptocurrency. However, unlike Bitcoin, the source code of Ripple's technology is owned privately by the company, which means that it cannot be verified by any outsider. Ripple is a very popular network: many banks across the world use it as the basis for their own settlement infrastructure, and its native currency XRP (ripples) has been consistently present in the top 5 cryptocurrencies by market capitalization for the past several years.

XRP/USD
Ripple has taken the current fall on the chin. At the day’s intraday low of $0.61, it had declined 81.5 percent from lifetime highs of $3.317.

The XRP/USD pair fell close to the next support level of $0.61, which is the final support, below which, a fall to $0.24 is likely.
The current pullback should reach the downtrend line which should offer a strong resistance. The risk to reward ratio is not attractive, so we don’t suggest any trade on it.

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