Ripple price slides 7% as acceleration slows down: Ripple invites Snoop Dogg to perform at VIP only “XRP community night” in New York
|- The buyers failed to hold ground above $0.9, paving the way for considerable declines towards $0.8.
- Ripple acknowledges those who have been “spreading the good word about Ripple’s many benefits.”
Ripple price is lacking a fresh catalyst to maintain upside momentum after selling pressure kicked in at $0.96during the trading session on Tuesday evening. The buyers failed to hold ground above $0.9, paving the way for considerable declines towards $0.8.
Ripple network, on the other hand, has announced that it will be hosting a VIP only “XRP Community Night” which will be held in New York and what is so interesting is that the legendary gangsta rapper Snoop Dogg is set to perform. The night event will be taking place during the Blockchain Week in the City of New York. Besides, Ripple’s statement said that the invite-only event is their way of acknowledging those who have been “spreading the good word about Ripple’s many benefits.” There are a couple of Twitter-based contests that Ripple is holding to allow people to win tickets to watch Snoop’s performance.
Ripple is currently correcting lower as I write and could soon be testing the support level at $0.8. It is not clear what is causing the slide; however, it could be because the recent surge took XRP/USD to overbought levels and the sellers are seeking equilibrium. The indicators are showing signals of selling pressure, for instance, the RSI is pulling into the danger zone while the moving averages are slopping even further to confirm the bearish momentum.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.