Search Inside Bitcoins

Ripple Price Drops 6.5% to $0.626 – Where to Buy XRP Dip

Ripple Slapped With a $1.3 Billion Lawsuit by SEC
Ripple Slapped With a $1.3 Billion Lawsuit by SEC

Ripple’s progress in the crypto market has been phenomenal, given that the popularity of the token around the globe is increasing. While the lawsuit against Ripple is a threat against XRP’s prices, it has boosted the popularity of the token and that of Ripple.

XRP is trading at $0.626 on major exchanges at the time of writing after a 6.5% decline.

XRP Price Analysis

XRP Price Analysis July 7
Source: TradingView

XRP’s price analysis shows that the market is currently bearish as the token set a new low this week. Currently, the price of XRP is moving downwards towards the $0.60 level. With the market currently looking bearish, a downtrend from this position might happen.

The current bears could be attributed to the lack of general market support. Bitcoin and ethereum are also losing big, and altcoins have mimicked this downward trend, hence the dip by XRP.

The current price of XRP shows there is substantial volatility, given that the price of the coin dropped from $0.67. An upsurge will only happen if the market support from bitcoin and the broader market rises again. On the other hand, going below these levels might boost support for XRP as buyers jump in to leverage the dip.

Recently, the Ripple director stated that XREP has the same use cases as bitcoin and ethereum. Matt Hamilton was responding to a tweet, stating that XRP is as decentralized as bitcoin because XRPL is a public blockchain. He also added that XRP was created to improve on bitcoin in terms of energy consumption.

Ripple and the SEC have not released any recent details on the ongoing case. Some crypto community members believe that the case has become “a bit cold”, and any future proceedings could be done behind closed doors.

XRP has been fluctuating with news of the ongoing lawsuit. If the case’s proceedings are not made public, then XRP will only have market support to lean on for future price appreciation.

Where to Buy Ripple (XRP)

Those who want to buy XRP can do so from a reliable and secure cryptocurrency exchange such as eToro. eToro offers various user-friendly features such as copy trading and a demo trading account that traders can use to learn. eToro also supports many cryptocurrencies and crypto trading pairs.

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

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

Read next

InsideBitcoins uses cookies to improve and customize your user experience. Learn more

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.