Search Inside Bitcoins

Ripple Price Dips 8.7% to $1.18 – Where to Buy XRP Dip


Join Our Telegram channel to stay up to date on breaking news coverage

Ripple has managed to make incredible gains this month following the ongoing crypto market rebound. However, it currently seems that XRP is no longer heading the charts in crypto gains, as it is currently retreating to lower levels. The recent dip could be attributed to bitcoin, which has retreated to around $45K.

XRP is trading at $1.18 at the time of writing after an 8.7% dip in 24 hours.

XRP Price Analysis

Ripple Price Analysis Aug 17
Source: Tradingview

Ripple’s price has lost some of the gains made at the beginning of the week. The coin managed to reach a monthly high of $1.35 last week, which increased trader buzz surrounding the Ripple coin. The massive gains in the past week also raised speculation that XRP could rally to $2.

However, contrary to the expected uptrend, XROP has gone back to retest the $1.10 support. If the coin intends to rally to $2 and beyond, it needs strong support at the $1.60 resistance level. The market is still bullish, which indicates that XRP’s uptrend has not been erased. On the other hand, volatility is expanding.

If market and buyer support fails and XRP is forced to another strong dip below $1.10, the lower support for the coin will be at around $1.02. If it retreats below $1, XRP will enter another bearish trend that could trigger selloffs, and the coin could go back to the July 20 lows.

Details of the ongoing case between Ripple and the US Securities and Exchange Commission (SEC) continue to emerge. Recently, Ripple filed a motion letter to block the SEC’s request for a million slack messages. Ripple stated that obtaining these messages was a burdensome and disproportionate process. Ripple’s legal team also pointed to how other courts have rejected similar discovery cases in the past.

Where to Buy Ripple

If you want to buy XRP during the current dip, you can create a cryptocurrency exchange account on a renowned platform such as eToro. eToro is one of the leading exchange platforms. It supports a wide range of features, with the most prevalent being copy trading. Through copy trading, new traders can copy the trading strategies of expert traders, hence increasing their chances of making profits.

Looking to buy or trade Ripple (XRP) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provider

Join Our Telegram channel to stay up to date on breaking news coverage

Read next