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 <p>The 50-day Exponential Moving Average (EMA) (red) caps the price at $0.5027, with another seller congestion at $0.505 suggesting that this sideways trading is bound to stay put until XRP encounters a market-moving event like the upcoming update on the XRP Ledger.</p>  
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 <h2 id="xrp-developers-announce-protocol-upgrade">XRP Developers Announce Protocol Upgrade</h2> 
 <p>The developers of crypto’s most prominent international money remittance token are working on the <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> Ledger’s next update to usher in two new <a rel="noopener noreferrer nofollow" title="Category Features" href="https://thebittimes.com/features.html">Features</a>. According to a post on X (formerly Twitter), the update 1.12.0 merges the XLS-30&nbsp;Automated Market Maker (AMM)&nbsp;and the XLS-39 Clawback spec to the protocol.</p> 
 <p>Introduced by Ripple’s CTO David Schwartz and Aanchal Malhotra, RippleX’s Head of Research, the proposal now dubbed XLS-30 “in a way provides increased returns to those who provide liquidity for the AMM and minimizes the risk of losses due to volatility.”</p> 
 <p>“XLS-30 will bring a native Automated Market Maker to the XRPL that integrates with the existing order book DEX to enable trading of digital assets in automated liquidity pools and enable developers to address a wider audience of DeFi stakeholders,” the statement reads in part.</p>  
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 <p>The Clawback feature, on the other hand, refers to a “lightweight addition to the <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a>d 1.12.0 codebase,” where newly issued assets can be clawed back via the trustline.</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">3/ XLS- 39 will enable the Clawback feature, a new, lightweight addition to the <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a>d 1.12.0 codebase. If adopted to the #<a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a>L Mainnet, Clawback will provide an opt-in capability for newly issued assets to be “clawed back” via a trustline.</p> 
  <p>— RippleX (@RippleXDev) September 6, 2023</p> 
 </blockquote> 
 <p></p> 
 <h2 id="xrp-price-bulls-ready-to-defend-key-support">XRP Price Bulls Ready To Defend Key Support</h2>  
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 <p>XRP’s range support at $0.5 must hold for bulls to push for a trend reversal and is of great importance now that the Bollinger bands indicator is squeezing in the wake of the sell-off at the end of August.</p> 
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  <img decoding="async" class="size-full wp-image-158712" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201233%20554'%3E%3C/svg%3E" alt="xrp price chart" width="1233" height="554" data-lazy-srcset="https://cdn.thebittimes.com/images/2023/09/07/5bd3f183b8cbed131e0ec8a71af2cd6a.webp 1233w, https://cdn.thebittimes.com/images/2023/09/07/5bd3f183b8cbed131e0ec8a71af2cd6a.webp 300w, https://cdn.thebittimes.com/images/2023/09/07/5bd3f183b8cbed131e0ec8a71af2cd6a.webp 1224w, https://cdn.thebittimes.com/images/2023/09/07/5bd3f183b8cbed131e0ec8a71af2cd6a.webp 768w, https://cdn.thebittimes.com/images/2023/09/07/5bd3f183b8cbed131e0ec8a71af2cd6a.webp 150w" data-lazy-sizes="(max-width: 1233px) 100vw, 1233px" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/07/5bd3f183b8cbed131e0ec8a71af2cd6a.webp"> 
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   <img decoding="async" class="size-full wp-image-158712" src="https://cdn.thebittimes.com/images/2023/09/07/5bd3f183b8cbed131e0ec8a71af2cd6a.webp" alt="xrp price chart" width="1233" height="554" srcset="https://cdn.thebittimes.com/images/2023/09/07/5bd3f183b8cbed131e0ec8a71af2cd6a.webp 1233w, https://cdn.thebittimes.com/images/2023/09/07/5bd3f183b8cbed131e0ec8a71af2cd6a.webp 300w, https://cdn.thebittimes.com/images/2023/09/07/5bd3f183b8cbed131e0ec8a71af2cd6a.webp 1224w, https://cdn.thebittimes.com/images/2023/09/07/5bd3f183b8cbed131e0ec8a71af2cd6a.webp 768w, https://cdn.thebittimes.com/images/2023/09/07/5bd3f183b8cbed131e0ec8a71af2cd6a.webp 150w" sizes="(max-width: 1233px) 100vw, 1233px"> 
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  <figcaption id="caption-attachment-158712" class="wp-caption-text">
    XRP/USD four-hour chart | Tradingview 
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 <p>An immediate recovery is likely, especially with the XRP price testing the lower boundary of the Bollinger bands. The price tends to roll back to the middle of the indicator, implying that bulls are ready to take control.</p> 
 <p>The stability around $0.5 means that investors are holding their existing positions while considering adding more if they get a bullish signal. For instance, a break above the 50-day EMA (red) and subsequently the resistance at $0.505 would trigger an influx of funds, allowing the On-Balance-Volume (OBV) to ascend toward the overbought region from recently near oversold conditions.</p> 
 <p>In that case, the path with the least resistance would be to the upside as <a rel="noopener noreferrer nofollow" title="XRP price" href="https://thebittimes.com/tag/xrp-price.html">XRP price</a> reaches out for a breakout above the descending trendline, the 100-day EMA (blue), and the range limit at $0.55 – highlighted by the 200-day EMA (purple).</p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/xrp-price-prepares-for-the-next-breakout-0-5-support-holds-tbt61895.html">https://thebittimes.com/xrp-price-prepares-for-the-next-breakout-0-5-support-holds-tbt61895.html</a></p>

XRP Price Prepares For The Next Breakout, $0.5 Support Holds

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