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Ripple Price Analysis: What to Expect in the Next 48 Hours

Published 02/06/2023, 02:58 AM
Updated 02/06/2023, 03:00 AM
Ripple Price Analysis: What to Expect in the Next 48 Hours
XRP/USD
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  • XRP’s price has dropped 2.68% in the last 24 hours according to CoinMarketCap.

  • A short-term bearish cycle has started for the remittance token’s price.

  • Technical indicators suggest that XRP’s price may continue to drop in the next 24-48 hours.

Ripple is a technology that acts as both a cryptocurrency and a digital payment network for financial transactions. It was first released in 2012 and was co-founded by Chris Larsen and Jed McCaleb.

Ripple’s main process is a payment settlement asset exchange and remittance system, similar to the SWIFT system for international money and security transfers, which is used by banks and financial middlemen dealing across currencies.

The token used for the cryptocurrency is premined and utilizes the ticker symbol XRP. Ripple is the name of the company and the network, and XRP is the cryptocurrency token. The purpose of XRP is to serve as an intermediate mechanism of exchange between two currencies or networks – as a sort of temporary settlement layer.

Current Market Standing

Ripple (XRP) is ranked as the 6th biggest crypto by market cap, according to CoinMarketCap, and experienced a drop in price of 2.68% to ta…

The post Ripple Price Analysis: What to Expect in the Next 48 Hours appeared first on Coin Edition.

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