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Is Burning XRP Coins a Better Option Right Now? | XRP price

Ripple can burn 50 billion XRP tokens which it has stored in its Escrow storage. This will automatically bring down the maximum…

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Will XRP Price go to Zero or Bounce Back

Ripple is currently in dire straits nowadays as the SEC and the crypto market both are going negative for XRP. The SEC had sued Ripple for illegally selling 1.3 billion XRP tokens and with this news outspread in the crypto space, XRP price also touched the lowest level with the biggest red candle of the year.

There was a massive selling pressure mounted which pulled back the price from $0.3 to less than $0.21 within a matter of a few hours. However, the XRP price is now rebounding with a tiny green candle, but it is still not sufficient to recover yesterday’s losses.

Apart from the SEC and the negative market sentiments, the delisting of XRP from some of the platforms also fueled the XRP price plunge. The price no matter is attempting very hard to touch the surface of the water and save from drawing, but the XRP community still believes the Ripple will overcome the negativity and XRP price will touch $5 soon.

Are Burning Escrow‘s XRP coins imminent?

Ripple needs to analyse the need of the hour and act likewise to save XRP going to the rock bottom levels. XRP price had struggled to get pushed to the highest levels after maintaining within the same levels from past one year.

But what can Ripple do to regain the lost momentum so that the XRP price will revisit the highest levels?

A crypto analyst named JOKER(ALL IN CRYPTO) suggested a total of three options to the Ripple CEO Brad Garlinghouse.

  • Fight with SEC and come out victoriously
  • Move Ripple base to some other country
  • Burn the 50 billion XRP tokens present in Ripple’s escrow.
  • @bgarlinghouse has three options here:

    1- Fight the SEC. It is costly and it takes time, maybe 2 – 3 years.
    2- Move to Japan
    3- Burn all the $xrp tokens in the escrow and get done with it.

    All of the options above supports my investments#XRPCommunity #XRP

    — JOKER (ALL IN CRYPTO) (@KiaCrypto) December 23, 2020

    Fighting with the SEC could be a good option but as mentioned by the analyst, it will take 2 to 3 years. The company, however, has the option of relocating to another country as it was thinking about it from well before.

    Or else, the Ripple can burn 50 billion XRP tokens which it has stored in its Escrow storage. This will automatically bring down the maximum supply and hence pump the XRP price.

    It would be interesting to know the future moves of Ripple to save XRP from drawing in the ocean of cryptocurrencies.

    A crypto analyst named JOKER(ALL IN CRYPTO) suggested a total of three options to the Ripple CEO Brad Garlinghouse.

    Source: https://coinpedia.org/news/burning-xrp-coins-a-better-option/

    is-burning-xrp-coins-a-better-option-right-now?-|-xrp-price

    Coinpedia

    Solana Price in Discovery Mode, SOL Price to Hit $150 Soon!!

    Solana has pulled off an incredible comeback. The new ATH this week fueled its ascension into the top ten. The altcoin on the other hand, has reached huge

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    Solana has pulled off an incredible comeback. The new ATH this week fueled its ascension into the top ten. The altcoin on the other hand, has reached huge milestones in a short period of time and has developed tremendously.

    SOL price has risen dramatically in the last seven days, reaching an all-time high of over $80 on August 18th. The total market capitalization is at around $21 billion.

    SOL Price Analysis

    The Solana coin is creating divergence with price movement and technical characteristics on the weekly chart. The coin is rising in value as it forms greater highs and lower lows patterns. The current Solana price prediction mood is bullish.

    The coin’s price has been fluctuating between $68 and $75.90 on a daily basis. Meanwhile, the token remains barely over $71 as bulls aim for a return to $80.

    The SOL bulls may be taking a break. A short-term slump does not always imply that the asset has reached its peak. This is why. To begin with, the general mood remained upbeat. Awesome Oscillators green final bars mimicked a similar phase.

    The MACD, which was slanted upwards, was also quite positive. The Relative Strength Index [RSI] has slowed towards the extreme overbought zone but has not yet turned down, indicating that the SOL market is still dominated by buyers.

    $150 for Solana?

    Smart Contracter, a well-known crypto trader, is forecasting fresh all-time highs for Ethereum competitor Solana.

    A 130 percent gain for Solana from its current price of $65.15 isn’t outlandish, according to the crypto analyst. The Analyst estimates a $150 price tag for Solana after five waves, using Elliott Wave, which predicts price swings based on crowd psychology that tends to emerge in waves.

    “This SOL ath [all-time high] breakout is looking like a monster wave three in the making. $150 is not unreasonable in my opinion.”

    The MACD, which was slanted upwards, was also quite positive. The Relative Strength Index [RSI] has slowed towards the extreme overbought zone but has not yet turned down, indicating that the SOL market is still dominated by buyers.

    Source: https://coinpedia.org/price-analysis/solana-price-in-discovery-mode-sol-price-to-hit-150-soon/

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    Coinpedia

    Bitcoin Price Facing Vital Resistance As Golden Cross Expected On 13th August!

    Bitcoin(BTC) price after rallying above $46500, it consolidation again around the strong support levels in order to head close to $50,000

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    Bitcoin price rallied remarkably and successfully added yet another $2000 with a nearly 6.1% jump. Moreover, the price also achieved the important resistance levels around the 200-day MA at $44,864. The rally marked a bullish re-establishment but with the beginning of the fresh day trade, BTC price initiated with consolidation. Whereas most of the altcoins appear extremely bullish.

    The past weekend turns out to be a pivotal period that dragged the crypto space out of the reach of the bears. BTC price currently is reattempting to surge above $46000, keeping the bullish momentum well in place. On the other hand, the ETH price comfortably resides above $3100 after the occurrence of the Golden Cross.

    Also Read: Bitcoin Price Analysis: Is Short Term Correction Evident Before the Golden Cross? Popular Analyst Says YES!

    However, the Golden Cross on Bitcoin is expected to occur in a coming couple of days on 13th August 2021 as predicted by analysts.

    Currently, the exchange outflow ratio has fallen to the lowest point since June 2019. Therefore a sense of confidence among the holders is withnessed as large exchange sell-offs are less common when less supply is at risk on exchanges.

    Despite Bitcoin price closed above the important daily 200-MA, buyers appear to be exhausted in fueling the bull run. However, if the consolidation drags the price down, a higher low between $44,000 to $44,300 could preserve its uptrend. And hence, the BTC price could ultimately coil up towards $50,000, $48,000 could be the initial stop.

    Also Read: Ethereum Price Flips Before Hitting Crucial Support Zones, Bull Market Resumes!

    Despite Bitcoin price closed above the important daily 200-MA, buyers appear to be exhausted in fueling the bull run. However, if the consolidation drags the price down, a higher low between $44,000 to $44,300 could preserve its uptrend. And hence, the BTC price could ultimately coil up towards $50,000, $48,000 could be the initial stop.

    Source: https://coinpedia.org/bitcoin/bitcoin-price-facing-vital-resistance-as-golden-cross-expected-on-13-august/

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    Polygon (MATIC) Price Retraces Well, Is It A Dead Cat Bounce Or A Recovery?

    The Polygon price struggling to sustain the uptrend, the possibility of a fake breakout haunts the Matic Price Rally

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    Matic Netwrok gained immense popularity and recognition with the rebranding to Polygon, earlier this year. Additionally, the Matic price rally also gained mainstream attention and adoption of-let. However, surrounding the immense market uncertainty, Polygon price slumps to its lowest levels.

    The price has tanked more than a couple of time in a months time. Therefore healing is much delayed than expected. No doubt the price initiated with recovery within a short time frame, yet the multiple plunges have impacted the momentum of the uptrend. And hence, the probability of forming higher highs has fallen down to lower highs.

    matic deadcat

    As mentioned in the chart, the MATIC price experiences an extreme squeeze as the resistance levels are lower after each slump. The recovery rate has also gone down which clearly indicates the loss of bullish momentum. With the price attempting to uplift again, it would be mandatory to raise a huge leg up. Else, if the price follows the previous pattern, the dead cat bounce may lead the price to revisit the levels below $1.

    AlsoRead: MATIC Price Targets $2.40 Level! Polygon Flashes Buying Signals!

    Is It Safe To Enter The Matic Price Trade?

    The short-term price analysis for the Polygon price, however, does not give a fully green signal to enter the trade. As the instability prevailing the crypto space does point out to observe the price movements closely and enter at the right time.

    However, the recent dip may have opened the doors to initiate a ‘buy’ trade. As the price is expected to jump high soon. As per the analyst, Altcoin Sherpa, there was a nice dip towards the demand zone. Moreover, the analyst believes the price may reach the weakly highs around $1.7.

    $MATIC: Nice dip to the demand zone again w. a good reaction. Would like to see it flip this current level before buying. Decent buy volume from yesterday; we’ll see if this can test higher. #MATIC pic.twitter.com/LDCPEowSh8

    — Altcoin Sherpa (@AltcoinSherpa) June 23, 2021

    Interestingly, the analyst also predicts a dip after the price attains the upper resistance levels. And hence, the $2 target still remains still misty. As the bulls remain still calm and maybe waiting for the right time to uplift the Matic price.

    The short-term price analysis for the Polygon price, however, does not give a fully green signal to enter the trade. As the instability prevailing the crypto space does point out to observe the price movements closely and enter at the right time.

    Source: https://coinpedia.org/price-analysis/polygon-matic-price-recovers-well/

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