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<ul> 
 <li>XRP currently hovers around $0.50.</li> 
 <li>Speculation mounts as crypto enthusiasts debate whether XRP will experience a potential dip to $0.35 or an ascent to $0.60 and beyond.</li> 
 <li>Heavy offshore exchange selling pressure drives XRP’s decline, with Upbit and OKX leading the sell-off in August.</li> 
</ul> 
<p>After a period of euphoria driven by a landmark legal ruling in July, XRP has been on a rollercoaster ride, leaving investors to wonder whether it will plunge to $0.35 or soar to new heights beyond $0.60.</p> 
<p>As XRP hovers around the $0.50 mark, crypto analyst Egrag posted on X (formerly Twitter) the crucial support and resistance levels that traders and investors should closely monitor. If market conditions remain bearish in the coming days, the $0.43 and $0.35 levels are critical points of interest.&nbsp;</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> Short Term Analysis-Daily TF (UPDATE):<br><br>What's on the horizon? Share your thoughts!<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f914.png" alt="🤔" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>A) Are we looking at a potential dip to 0.43c or even 0.35c? Could this be the ultimate shakeout before a rebound? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92f.png" alt="🤯" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>B) Or is <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> gearing up for a spectacular ascent, possibly… <a href="https://t.co/GyNXNcyQb1" rel="noopener noreferrer nofollow">https://t.co/GyNXNcyQb1</a> <a href="https://t.co/tRYf6Qxn0L" rel="noopener noreferrer nofollow">pic.twitter.com/tRYf6Qxn0L</a></p>— EGRAG CRYPTO (@egragcrypto) <a href="https://twitter.com/egragcrypto/status/1698592725094826228?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 4, 2023</a> 
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<p>These levels could serve as significant milestones, marking a dip or stabilization point for XRP. Conversely, should the tides favor XRP, a move above $0.60 would be pivotal. It could signify a resurgence in bullish sentiment, potentially propelling XRP to reach new heights.</p> 
<p>To understand XRP’s recent decline, one must look at the heavy selling pressure originating from offshore exchanges. XRP’s trading volume surged to an impressive $462.8 million in August. Surprisingly, this surge did not translate into a corresponding price increase. Instead, XRP succumbed to substantial selling pressure, initiated mainly by investors on offshore exchanges such as OKX and Upbit.</p> 
<p>Upbit and OKX recorded 55% and 54% sell-order shares, respectively. Of note is that Upbit, a South Korea-based exchange, wields significant influence over global XRP trading volume. This data suggests that South Korean investors, who were pivotal in driving XRP’s uptrend in July, have chosen to secure profits and reassess their exposure to the asset.</p> 
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</ul> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/xrps-future-brace-for-a-dive-to-0-35-or-a-skyrocket-to-valhalla/">XRP’s Future: Brace for a Dive to $0.35 or a Skyrocket to Valhalla?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

XRP’s Future: Brace for a Dive to $0.35 or a Skyrocket to Valhalla?

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