Ripple Suffers 5% Dip Amid Widespread Market Correction

Azeez Mustapha



Select a Plan


 1-month subscription



 3-month subscription



 6-month subscription



 lifetime subscription



 Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored


Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

Wednesday began on a quiet note for Ripple (XRP) as the cryptocurrency claws its way back above the $1.1500 level, following yesterday’s 5% dip. At press time, the sixth-largest cryptocurrency trades at $1.1560 (+1.81%).

The correction in XRP came after a sharp rejection in Bitcoin from the $50,000 mark, which triggered a market-wide sell-off.

Meanwhile, the legal battle between Ripple and the United States Securities and Exchange Commission continues to blow hot, as senior Ripple executives call out the watchdog on its use of “deliberative process privilege (DPP).”

Ripple’s team of lawyers argue that the deposition is former SEC executive William Hinman and the document held back by the agency could “fatally undermine the SEC’s allegations that the Individual Defendants acted recklessly in failing to recognize Ripple’s sales of XRP as an unregistered securities offering as at that time, securities law experts of Mr. Hinman’s stature (to say nothing of the full Commission) had not reached that conclusion themselves, despite looking into the issue.”

Nonetheless, many analysts maintain a bullish stance on the long-term outlook of XRP. Prominent crypto traders and influence Credible Crypto recently noted that XRP could rally to the $20 – $30 area soon, which stands for a gain of over $2,300%.

Key Ripple Levels to Watch — August 25

XRP has finally broken beneath the persevering trendline and now struggles to remain above the $1.1500 level. While this could be a necessary correction to help the cryptocurrency rebound over the $1.2700 – $1.3250 area, it could also be the beginning of a significant price correction towards the $1.000 area.

XRPUSD – 4-Hour Chart

That said, XRP needs to stay above $1.1000 to keep the overall bullish bias intact, as bears plot to push prices across the crypto market lower.

Meanwhile, our resistance levels are $1.2000, $1.2700, and 1.3250, and our support levels are $1.1100, $1.0500, and $1.0000.

Total Market Capitalization: $2.05 trillion

Ripple Market Capitalization: $53.1 billion

Ripple Dominance: 2.59%

Market Rank: #6


You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *