Ron Hammond is recently hired as the new Manager of Government Relations for Ripple. It is expected that he might introduce Token Taxonomy Act which might change the entire picture of Cryptocurrency industry. Well, with that happening, we might be able to see sudden gaps and dives in many altcoins and their network.
XRP Faces Bearish Pressure
The value of XRP is seen trading at $0.26008 at 11:25 UTC on 4th September 2019. Considering the XRP data from yesterday, the fluctuations were quite noticeable. The lowest value was initially seen yesterday at 10:01 UTC when the value was trading at $0.25863. The value then increased by 3.32% at 13:39 UCT time when the value changed to $0.26722. The value then saw a slight drop by 1.95% at 18:48 UTC yesterday, when the trade value changed to $0.26199. By evening, at 22:12 UTC, the value escalated by 1.49% trading at $0.26589 value which is dropped by 2.20% as of now.
Ripple might be showing the bearish trend right now. But considering the vision of XRP to associate with the government bodies directly and change the taxation process including the Cryptocurrency industry, XRP might become one of the great leaders in this field.
The short term investment might be an ideal decision as the daily fluctuations can result in little incentives. Long term investment, however, might be showing constant drop for some time. So you might have to struggle to analyze the trade as of now. If you are not certain about the coin’s future prospects, you can checkout XRP predictions for upcoming years.
The resistance and support levels are calculated below that might help the traders to avoid redundant speed breaks in the trade.
Resistance Levels:
R3: 0.27334
R2: 0.26931
R1: 0.266224
Support Levels:
S1: 0.259108
S2: 0.255078
S3: 0.251992
