If the price manages to break above $0.52 then it will likely test the $0.54 resistance level.
The current market cycle is very similar to the one that occurred in 2015 as per analysts.
Former Obama administration employee Lauren Belive has been recruited by Ripple to lead the company’s public policy and government operations in the United States. Belive will take charge of the company’s efforts in Washington and elsewhere to promote crypto-friendly regulations for both consumers and companies. Before joining SoftBank Group International as director of government affairs, Belive led U.S. government relations at Zoom.
A substantial update to the XRP Ledger (XRPL) infrastructure was recently revealed by XRPL Labs in a blog post titled “Building a Sustainable Ecosystem.”
By making it simpler and more financially rewarding to run validator nodes, this update will help decentralize and grow the XRPL network. XRPL Labs considers these updates to be a watershed point in the development of a stronger, more resilient XRP Ledger network. This is fantastic news for the XRP community.
Bears Continue to Dominate
Several market watchers have noted that the current market cycle is very similar to the one that occurred in 2015, just before a huge rally that began in 2016 and continued through early 2018.
At the time of writing, XRP is trading at $ $0.5042, down 0.26% in the last 24 hours as per data from CMC. Moreover, the trading volume is down 7.97%. The price has been witnessing severe bear dominance after facing resistance at $0.52 level a few days back.
Source: CoinMarketCap
If the price manages to break above the $0.52 resistance level then it will likely test the $0.54 level. On the other hand if the price breaks below $0.49 support level then it will likely head towards $0.47 key support level.
