{"id":1248414,"date":"2023-07-08T06:34:03","date_gmt":"2023-07-08T05:34:03","guid":{"rendered":"https:\/\/www.businesstelegraph.co.uk\/xrp-next-step-heres-why-an-upward-move-could-be-likely\/"},"modified":"2023-07-08T06:34:03","modified_gmt":"2023-07-08T05:34:03","slug":"xrp-next-step-heres-why-an-upward-move-could-be-likely","status":"publish","type":"post","link":"https:\/\/www.businesstelegraph.co.uk\/xrp-next-step-heres-why-an-upward-move-could-be-likely\/","title":{"rendered":"XRP Next Step: Here\u2019s Why An Upward Move Could Be Likely"},"content":{"rendered":"<p> <script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- newscabal uk text -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:inline-block;width:728px;height:90px\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"3688094655\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight: 400\">XRP\u2019s price performance has been underwhelming recently, with a notable decline from its previous highs. Regulatory uncertainties surrounding Ripple Labs, the company behind XRP, have played a significant role in dampening investor sentiment.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) regarding the classification of XRP as a security has raised concerns about the asset\u2019s long-term viability.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, despite these challenges, there are reasons to remain cautiously optimistic about XRP\u2019s future.<\/span><\/p>\n<h2><strong>XRP Shows Potential For A Reversal Despite Recent Declines<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">XRP, currently priced at $0.467053 according to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/xrp\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\">, has experienced a marginal decline of 0.5% over the past 24 hours and a slight drop of 0.3% over the past seven days. <\/span><\/p>\n<p><span style=\"font-weight: 400\">However, despite dropping toward the $0.46 level, which serves as the lower border of a descending price channel, there are indications that a likely upward shift may be on the horizon.<\/span><\/p>\n<p>Up until a breakout to the upper border, which denotes a potential trend reversal, descending price channels are often bearish patterns. In line with this downward trend, XRP has been trading at regularly lower highs and lows.<\/p>\n<p>The currency is currently experiencing a significant decline in its value, and it is approaching the lower limit of a trading channel. This decline has created an environment that holds the potential for a potential recovery to take place.<\/p>\n<p>When a currency approaches the bottom border of a trading channel, it suggests that it has reached a support level, a point at which there is increased demand for the currency, which could lead to a reversal in its downward trend.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/07\/XRP-Next-Step-Heres-Why-An-Upward-Move-Could-Be\" width=\"2475\" height=\"1187\"\/><\/p>\n<pre style=\"text-align: center\">XRP market cap currently at $24.3 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener\">TradingView.com<\/a><\/pre>\n<p><span style=\"font-weight: 400\">According to an <\/span><a href=\"https:\/\/u.today\/xrps-next-move-should-aim-upward-heres-why\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400\">XRP price report<\/span><\/a><span style=\"font-weight: 400\">, when a cryptocurrency reaches the lower border of a descending channel, it often signifies a critical juncture where buying pressure may overcome selling pressure, leading to a reversal in the price direction. <\/span><\/p>\n<p><span style=\"font-weight: 400\">While past performance is not indicative of future results, this development suggests that XRP may be poised for an upward movement in the foreseeable future.<\/span><\/p>\n<h2><strong>Ripple Labs\u2019 UBRI Thrives With Global Expansion<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Meanwhile, Ripple has achieved significant milestones in its University Blockchain Research Initiative (UBRI), a key operational initiative. With a philanthropic commitment of $50 million, the program has successfully onboarded 50 partners from various sectors, <\/span><a href=\"https:\/\/twitter.com\/Ripple\/status\/1677302826375204867\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400\">Ripple announced on Twitter<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">1\/ In 2018, Ripple\u2019s UBRI program launched with a $50M philanthropic commitment to leading universities around the world to support academic research, technical development, and innovation in blockchain and crypto. <a href=\"https:\/\/t.co\/B1DBYNiSdV\" rel=\"nofollow\">https:\/\/t.co\/B1DBYNiSdV<\/a><\/p>\n<p>\u2014 Ripple (@Ripple) <a href=\"https:\/\/twitter.com\/Ripple\/status\/1677302826375204867?ref_src=twsrc%5Etfw\" rel=\"nofollow\">July 7, 2023<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">The UBRI program, focused on academic research related to blockchain technology, has made remarkable progress. It has awarded 590 fellowships and scholarships, providing support to aspiring researchers and students. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Additionally, the initiative has played a vital role in facilitating the publication of over 1,000 research articles and presentations, contributing to the advancement of knowledge in the field.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The success of the UBRI program is further highlighted by its global reach, as it is now active on six continents across the world.\u00a0<\/span><\/p>\n<p><em>(This site\u2019s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Featured image from Shutterstock<\/span><\/em><\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"7859258044\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/news\/xrp-next-step-heres-why-an-upward-move-could-be-likely\/\">READ SOURCE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>XRP\u2019s price performance has been underwhelming recently, with a notable decline from its previous highs. Regulatory uncertainties surrounding Ripple Labs, the company behind XRP, have played a significant role in dampening investor sentiment.\u00a0 The ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) regarding the classification of XRP as a security [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1248417,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_oct_exclude_from_cache":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1248414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>XRP Next Step: Here\u2019s Why An Upward Move Could Be Likely - Business Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.newsbtc.com\/news\/xrp-next-step-heres-why-an-upward-move-could-be-likely\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XRP Next Step: Here\u2019s Why An Upward Move Could Be Likely - Business Telegraph\" \/>\n<meta property=\"og:description\" content=\"XRP\u2019s price performance has been underwhelming recently, with a notable decline from its previous highs. 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