Ripple XRP Price Today Technical Analysis – Ripple XRP Price Now

By | April 1, 2023

Ripple XRP Price Today: It would be great to see that Wave 4 come back to the 38.2 Fibonacci retracement which is the 50.3 cent level.

Ripple XRP Price Today

It would be great to see that Wave 4 come back to the 38.2 Fibonacci retracement which is the 50.3 cent level. That would give it a lot of reliability and it would also be the lower boundary of the trend channel that you can see there – basically a test before we eventually move up in a fifth wave of again a higher degree third and then it would just cascade higher.

As for whether this move up is already finished, it could be. Currently, I have no indication. I will start to believe that as soon as we break out of the trend channel and also break below 47.7 cents.

Taking the bigger picture into account, I’m counting this as an ABC wave. Wave A and B have already occurred, but we haven’t completed wave C yet because we still only have wave 1.

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  • Wave 4 should come back to 38.2 Fibonacci retracement for reliability
  • Lower boundary of trend channel should act as a test before moving up in fifth wave
  • Move could already be finished, but no indication yet
  • Breakout of trend channel and drop below 47.7 cents indicates move is finished
  • Counting as an ABC wave with wave A and B completed, but C wave still needs to happen

What Is XRP / XRP Ledger?

The XRP Ledger (XRPL), which was launched in 2021, is an open-source, permissionless, and decentralised system. The XRP Ledger’s advantages include its cheap transaction cost ($0.0002 per transaction), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second), and inherently green characteristics. (carbon-neutral and energy-efficient). The XRP Ledger protocol also includes the first decentralised exchange (DEX) and custom tokenization powers. The XRP Ledger has been running consistently since 2012, having ended 70 million ledgers.

Who Are the Founders of the XRP Ledger?

David Schwartz, Jed McCaleb, and Arthur Britto founded the XRP Ledger in 2012 as a faster, more energy-efficient alternative to the Bitcoin network. They established the company that is now known as Ripple in September of that year, along with Chris Larsen.

How Many XRP Coins Are There in Circulation?

The XRP currency Ripple received 80 billion XRP from Ledger architects in order for the company to create use cases around the digital asset, including its global payments network, RippleNet.

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