The Ripple price has risen by over 150% since July 20th and is doing better than many other Altcoins despite the ongoing correction. One of the reasons Ripple is so strong is the growing interest of investors. According to recent data, the number of users interacting with the XRP ledger is growing steadily and indicates a potential inflow of capital.
The number of daily active addresses rose from 9,233 on July 25 to 23,537 on August 24, an increase of 176%. Source: Santiment
Ripple has pulled back from recent highs and is currently testing the lower bound of the triangle formation. Should there be a break to the downside, the downtrend could extend to $ 1.01, which coincides with the 38.2% Fibonacci retracement of the last upswing. On the other hand, if buyers manage to regain control, another upward momentum towards the recent highs at $ 1.33 could kick in. Source: xStation 5
0% commission on real stocks and ETFs at XTB
More than 2,000 shares from all over the world with 0% commission and monthly sales of up to 100,000 EUR. Free access to real-time prices, an intuitive trading platform, an advanced stock scanner, a personal advisor, various training materials and more. Start today or try out stock trading at XTB for free. More information is available here.
Disclosure in accordance with 80 WpHG for the purpose of possible conflicts of interest
The author is currently not invested in the discussed securities or underlyings.
The authors of the publications compose this information at their own risk. Analysis and assessments are not provided in relation to the specific investment objectives or needs of any particular person. Publications by XTB commenting on specific situations in the financial markets and general oral statements made by XTB employees regarding the Financial markets, do not constitute advice to the customer by XTB and cannot be interpreted as such. XTB is not liable for losses that arise directly or indirectly as a result of decisions made with regard to the content of the publications.
CFDs are complex instruments and carry a high risk of losing money quickly due to the leverage effect. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Investment successes and profits from the past do not guarantee success in the future. Contents, newsletters and messages from XTB do not represent any action taken by XTB.