United

Strong

<ul> 
 <li><strong>If the price manages to break above $0.52 then it will likely test the $0.54 resistance level.</strong></li> 
 <li><strong>The current market cycle is very similar to the one that occurred in 2015 as per analysts.</strong></li> 
</ul> 
<p>Former Obama administration employee Lauren Belive has been recruited by <a href="https://thenewscrypto.com/blockchain-news-ripple-acquires-fortress-trust-to-further-boost-expansion/" target="_blank" rel="noopener noreferrer nofollow">Ripple</a> 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.</p> 
<p>A substantial update to the XRP Ledger (XRPL) infrastructure was recently revealed by XRPL Labs in a blog post titled “Building a Sustainable Ecosystem.”&nbsp;</p> 
<p>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.&nbsp;</p> 
<h3 class="wp-block-heading" id="h-bears-continue-to-dominate">Bears Continue to Dominate</h3> 
<p>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.</p> 
<p>At the time of writing, <a href="https://thenewscrypto.com/crypto-news-xrp-displays-signs-of-recovery-amidst-dfs-greenlist-revamps/" target="_blank" rel="noopener noreferrer nofollow">XRP</a> 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.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full"> 
  <img decoding="async" width="660" height="356" src="https://thenewscrypto.com/wp-content/uploads/2023/09/XRP_7D_graph_coinmarketcap-2.png" alt="" class="wp-image-82972" srcset="https://thenewscrypto.com/wp-content/uploads/2023/09/XRP_7D_graph_coinmarketcap-2.png 660w, https://thenewscrypto.com/wp-content/uploads/2023/09/XRP_7D_graph_coinmarketcap-2-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/09/XRP_7D_graph_coinmarketcap-2-150x81.png 150w" sizes="(max-width: 660px) 100vw, 660px"> 
  <figcaption class="wp-element-caption">
    Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
  </figcaption> 
 </figure> 
</div> 
<p>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.</p>

XRP Price Faces Strong Bear Dominance; Further Decline Likely?

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TheNewsCrypto

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