Ripple (XRP) is all About Supporting Local Communities Price Consolidation Ideal in the Short TermAugust 1, 2020
It already well known that Ripple are contributing towards greater environmental sustainability when compared to several other digital assets. Particularly in terms of consensus, cryptocurrency mining and environmental impact.
Ripple insights have looked in to how the sustainability of money is a trending topic now. The digital design of cryptocurrencies help in avoiding the environmental consequences because they are digital in design. However, there are differences in digital currencies based on the kind of energy source used to produce them.
With the numbers of cryptocurrency users increasing, the industry leaders should be looking to make use of best practices and technology, which will bring down energy consumption in a way to provide for a sustainable cryptocurrency.
The goodness of ripple has gained recognition per a Ripple tweet: “Supporting the local communities in which we work is an important part of what @Ripple is all about. Thanks @SFBusinessTimes for recognizing those leading the way in the Bay!”
Sydney Ifergan, the crypto expert tweeted: “Ripple (XRP) have been keen about increasing the quality of their services. They are about financial inclusion and making cross border payments with ODL. It would be nice if the price gains some recognition.”
Ripple (XRP) Technical Trends and Outlook
Though the price of XRP did not show any kind of day to day changes, it might gain traction as the cryptocurrency sentiments in the market are getting better.
The Bitcoin spike to $11,500 is motivating and it just looks like XRP is drawing closer to $0.30. The $0.23 was a very difficult resistance zone. The break beyond $0.26 touching as high as $0.2693 is encouraging.
The price was trending at $0.266553 1 Aug, 2:29 pm UTC. Though there is a positive sentiment, the energy is not seemingly good enough to prove the $0.30 target. Several investors think that $0.30 might not become a reality; however, with the sentiments for Bitcoin brewing and new investor outlook we cannot be sure if there is truly a shocking rise for XRP. We need to see if expectation will meet reality.
The good news from the Ripple Technical analysis is that it has broken the descending trend line and the price is in the bullish trend now. The reaction of whales is a point to take note of because there are nearly 29 new whales who are reportedly holding nearly 1 million coins. The support levels are yet to stabilize, and therefore a consolidation is considered to be ideal in the short term.