{"id":548193,"date":"2023-08-21T10:55:40","date_gmt":"2023-08-21T10:55:40","guid":{"rendered":"https:\/\/uniquehot.com\/?p=548193"},"modified":"2023-08-21T10:23:02","modified_gmt":"2023-08-21T10:23:02","slug":"xrp-price-at-a-crossroad-will-0-5-support-trigger-a-correction-shift","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/xrp-price-at-a-crossroad-will-0-5-support-trigger-a-correction-shift\/","title":{"rendered":"XRP Price At A Crossroad: Will $0.5 Support Trigger A Correction Shift?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">XRP, the cryptocurrency associated with Ripple, faced a tumultuous ride in recent weeks as its price witnessed a significant downturn. However, an interesting turn of events has unfolded as the coin found solace at a crucial support trendline coinciding with the psychological level of $0.5.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This fortuitous alignment has offered XRP bulls a potential launching pad for a counteroffensive, raising questions about the possibility of a recovery.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The value of XRP soared after a groundbreaking legal verdict that classified the token as not being a security in the protracted legal feud involving Ripple and the US Securities and Exchange Commission. This decision initially propelled XRP to higher valuation grounds, signaling optimism among investors.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/ordinals-sales-in-freefall-97-decrease-sparks-worries-about-bitcoin-nfts-extinction\/\" target=\"_blank\" rel=\"noopener \">Ordinals Sales In Freefall: 97% Decrease Sparks Worries About Bitcoin NFT\u2019s Extinction<\/a><\/div>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-548198\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-120.png?resize=942%2C66\" alt=\"\" width=\"942\" height=\"66\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-120.png?w=942 942w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-120.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-120.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-120.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-120.png?w=750 750w\" sizes=\"(max-width: 942px) 100vw, 942px\"><\/p>\n<pre style=\"text-align: center\">XRP price action today. Source: <a href=\"https:\/\/www.coingecko.com\/\" rel=\"nofollow\">Coingecko<\/a><\/pre>\n<p><span style=\"font-weight: 400\">However, the enthusiasm proved to be short-lived as the cryptocurrency faced a noticeable drainage of capital. As of the <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/xrp\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">latest available data<\/span><\/a><span style=\"font-weight: 400\">, XRP&#8217;s market capitalization stands at $28.26 billion, witnessing a decline of $14.63 billion since the post-SEC ruling peak of $42.89 billion on July 14.<\/span><\/p>\n<h2><strong>Boosted By Legal Victory, Subdued By Capital Outflow<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">The <\/span><a href=\"https:\/\/finbold.com\/xrp-wiped-18-billion-since-positive-sec-case-ruling-what-next\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">decline in XRP&#8217;s market capitalization<\/span><\/a><span style=\"font-weight: 400\"> can be attributed to an amalgamation of influences. Notably, traders who benefited from the initial surge in prices opted to take profits, inducing a downward pressure on the coin&#8217;s value.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The inherent volatility of the cryptocurrency market also played a role in amplifying these fluctuations. Additionally, lingering apprehensions surrounding the regulatory outlook of XRP&#8217;s long-term status added to the uncertainty, potentially dissuading potential buyers from committing to the coin.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/v01pQUJ3\/\" width=\"2475\" height=\"1179\"><\/p>\n<pre style=\"text-align: center\">XRP reached a market cap of $27.6 billion today. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<h2><strong>XRP: Path To Recovery<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">As the market assesses the course ahead for XRP, <\/span><a href=\"https:\/\/coingape.com\/markets\/xrp-price-analysis-can-0-5-support-a-turning-point\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">technical analysis<\/span><\/a><span style=\"font-weight: 400\"> offers insights into potential inflection points. To dismantle the impact of the previous price breakdown, buyers are looking to breach the $0.5948 high achieved on August 17. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Such a breakthrough would disarm sellers and could provide the momentum needed to drive the price toward recovery. <\/span><span style=\"font-weight: 400\">In this scenario, with the current price of XRP at $0.534, XRP&#8217;s journey could see a resurgence towards $0.667, followed by aspirational targets of $0.854 and $0.933.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-548203 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-122.png?w=860&#038;resize=860%2C276\" alt=\"\" width=\"860\" height=\"276\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-122.png?w=1121 1121w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-122.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-122.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-122.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-122.png?w=750 750w\" sizes=\"(max-width: 860px) 100vw, 860px\"><\/p>\n<pre style=\"text-align: center\">XRP seven-day price action. Source: CoinMarketCap<\/pre>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/hedera-hbar-rises-as-weekends-top-50-sole-gainer-with-14-rally\/\" target=\"_blank\" rel=\"noopener \">Hedera (HBAR) Rises As Weekend\u2019s Top 50 Sole Gainer With 14% Rally<\/a><\/div>\n<p><span style=\"font-weight: 400\">XRP&#8217;s recent price trajectory has been marked by oscillating sentiments, ranging from elation due to a favorable legal outcome to a subsequent exodus of investment capital. <\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the cryptocurrency appears to have found a stabilizing foothold as it aligns with a crucial support trendline at the $0.5 psychological level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The market&#8217;s focus now shifts to the battle between buyers and sellers, as investors watch for a potential rebound from the recent dip.\u00a0<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Featured image from CryptoTicker<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>XRP, the cryptocurrency associated with Ripple, faced a tumultuous ride in recent weeks as its price witnessed a significant downturn. However, an interesting turn of events has unfolded as the coin found solace at a crucial support trendline coinciding with the psychological level of $0.5.\u00a0 This fortuitous alignment has offered XRP bulls a potential launching pad for a counteroffensive, raising questions about the possibility of a recovery. The value of XRP soared after a groundbreaking legal verdict that classified the token as not being a security in the protracted legal feud involving Ripple and the US Securities and Exchange Commission. This decision initially propelled XRP to higher valuation grounds, signaling optimism among investors.\u00a0 Related Reading: Ordinals Sales In Freefall: 97% Decrease Sparks Worries About Bitcoin NFT\u2019s Extinction XRP price action today. Source: Coingecko However, the enthusiasm proved to be short-lived as the cryptocurrency faced a noticeable drainage of capital. As of the latest available data, XRP&#8217;s market capitalization stands at $28.26 billion, witnessing a decline of $14.63 billion since the post-SEC ruling peak of $42.89 billion on July 14. Boosted By Legal Victory, Subdued By Capital Outflow The decline in XRP&#8217;s market capitalization can be attributed to an amalgamation of influences. Notably, traders who benefited from the initial surge in prices opted to take profits, inducing a downward pressure on the coin&#8217;s value.\u00a0 The inherent volatility of the cryptocurrency market also played a role in amplifying these fluctuations. Additionally, lingering apprehensions surrounding the regulatory outlook of XRP&#8217;s long-term status added to the uncertainty, potentially dissuading potential buyers from committing to the coin. XRP reached a market cap of $27.6 billion today. Chart: TradingView.com XRP: Path To Recovery As the market assesses the course ahead for XRP, technical analysis offers insights into potential inflection points. To dismantle the impact of the previous price breakdown, buyers are looking to breach the $0.5948 high achieved on August 17. Such a breakthrough would disarm sellers and could provide the momentum needed to drive the price toward recovery. In this scenario, with the current price of XRP at $0.534, XRP&#8217;s journey could see a resurgence towards $0.667, followed by aspirational targets of $0.854 and $0.933. XRP seven-day price action. Source: CoinMarketCap Related Reading: Hedera (HBAR) Rises As Weekend\u2019s Top 50 Sole Gainer With 14% Rally XRP&#8217;s recent price trajectory has been marked by oscillating sentiments, ranging from elation due to a favorable legal outcome to a subsequent exodus of investment capital. However, the cryptocurrency appears to have found a stabilizing foothold as it aligns with a crucial support trendline at the $0.5 psychological level.\u00a0 The market&#8217;s focus now shifts to the battle between buyers and sellers, as investors watch for a potential rebound from the recent dip.\u00a0 (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from CryptoTicker<\/p>\n","protected":false},"author":557,"featured_media":548195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1144,8686,4735,89164,3799,4531],"class_list":["post-548193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-btcusd","tag-ethusd","tag-price-action","tag-ripple-vs","tag-sec","tag-xrp"],"acf":[],"yoast_head":"\n<title>XRP At A Crossroad: Will $0.5 Support Trigger a Correction Shift?<\/title>\n<meta name=\"description\" content=\"XRP, the cryptocurrency associated with Ripple, faced a tumultuous ride in recent weeks as its price witnessed a significant downturn. 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