Garlinghouse: Ripple Network is stronger than ever
After a quick attempt over its strong resistance level at 0, earlier this week to climb, XRP faced a strong and quick rejection and is now moving toward its monthly low, currently at 0, 28 $ is.
This slump came in the midst of Ripples eagerly awaited Swell event, and although the ripple CEO announced new deals with XRP, which he believes have made the XRP network “stronger than ever.”
XRP drops 6% as bears take control
At the time of writing, XRP trades at its current price of 0, 34 $, which means a significant drop from its daily highs of about 0, 25 $. Earlier this week, the XRP bulls tried to drive the cryptocurrency above 0, 28 $
XRP is not the only one faced with increasing selling pressure as Bitcoin was also exposed to a strong sell-off that hit it from the bottom 9. drive.
It is important for XRP that this bear market came about shortly after it attempted to confirm long-term bottoming, which means that the move could override this bullish possibility and cause difficulties for its near term price movement. Peter Brandt, a highly respected analyst, recently pointed to this formation and said:
Pending a close above. $ XRP pic.twitter.com/zQdus7xtp6
– Peter Brandt (@PeterLBrandt) 25. October 2019
Ripple extends network, but investors are not impressed
The continued decline in XRP coincided with Ripple’s swell event, where the company announced that it already had has customers, of which over two dozen use XRP-related products. Brad Garlinghouse – CEO of Ripple – spoke about this in a recent tweet explaining that the network is “stronger than ever” and continues to grow.
Good things come in 3s – at our 3rd annual Swell event we announced @Ripple has more than 300 customers, more than 2 dozen of which are #XRP through on-demand liquidity. The network is stronger than ever, and momentum behind ODL is only beginning. https://t.co/NQGEoH8hJI
– Brad Garlinghouse (@bgarlinghouse) November 7 2019
Obviously, investors are not impressed by Ripple’s progress in building XRP as it – Altcoins was.
Text Proof: newsbtc
Last update: Sunday, . November 2019