Home Alt coins XRP Price Faces Resistance at $1.2 Level, a Critical Level for Momentum

XRP Price Faces Resistance at $1.2 Level, a Critical Level for Momentum

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  • Ripple acquired a 30% share in MoneyGram International.
  • Ripple initially peaked at $1.10 before rallying on October 9th.

XRP is the sixth-largest cryptocurrency by market valuation as per CoinMarketCap. The token has gained approximately 410 percent this year and 349 percent in the last year. Ripple uses XRP to power its RippleNet platform for currency conversion and cross-border transactions.

In 2019, Ripple acquired a 30% share in MoneyGram International, a two-year collaboration. Ripple would be MoneyGram’s digital asset partner for cross-border payments and exchange settlement.

XRP Price approaches critical levels as it hits a new low of $1.10, pushing XRP higher. As a consequence, XRP is expected to rise during the next 24 hours, reaching $1.20. A positive trend is continuing, leading to a $1.20 barrier late today.

So far in October, Ripple’s price has recovered positive momentum. It rose on October 1st following many unsuccessful efforts to go below $0.90 in late September. Ripple initially peaked at $1.10 before rallying on October 9th. XRP retraced below $1.10, following a new high at $1.235.

Anticipation of XRP to Skyrocket

Since then, XRP has been steadily rising. Yesterday, ripple price refused any dip below $1.10, indicating a rise later today. Analysts anticipate XRP to skyrocket, and they welcome the new partnerships. According to eToro, XRP was the top cryptocurrency in the UK in the third quarter of 2021. Holders of XRP are hopeful about the SEC v. Ripple result.

The most popular cryptocurrency in the UK, according to eToro, is XRP, followed by Cardano (ADA). Traders in the UK preferred XRP over other cryptocurrencies in Q3 2021.

Intriguingly, XRP has witnessed a rise in retail and institutional usage in recent months. Ripple joined the Digital Pound Foundation and prepared to help solve CBDC development issues. According to CoinMarketCap, the XRP price today is $1.12 USD with a 24-hour trading volume of $2,575,824,554 USD.




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