- The price spiked all the way till $0.50 level post the recent false news incident.
- If the price breaks above $0.50, then it will likely rally all the way till the $0.52 resistance area.
On October 16th, Ripple posted a new job listing for a senior manager of shareholder communications in numerous locations throughout the world. Many cryptocurrency investors saw the job listing as a sign that the business was preparing to go public.
Moreover, the market activity on Tuesday shook up holders of XRP. A large holder of XRP (a “whale”) moved over 410 million XRP (worth around $201 million) to a different wallet. The impact of traders and investors reacting to the significant fake ETF approval announcement resulted in sales that might set off this action.
BitPay, a well-known cryptocurrency payment service, has introduced a new connection that will let Xsolla players utilize XRP. The introduction of this update is a major step forward for the broad use of digital currencies, especially XRP in the gaming industry. Addition of XRP brings forth a significant push in already proactive use cases for the token.
Bears in Control
At the time of writing, XRP is trading at $0.4917, down 0.58% in the last 24 hours as per data from CMC. Moreover, the trading volume is up 55.23%. The price spiked all the way till $0.50 post the recent false ETF news incident. However, the price could not maintain the momentum and dropped drastically.
The price will likely test $0.489 support level. Breaching below this level will likely take the price all the way till $0.476 mark. However, if the price breaks above $0.50 resistance level, then it will likely rally all the way till $0.52 resistance area.
