XRP, which showed a strong performance compared to other cryptocurrencies in July, continues to trade below $ 0.7 levels in recent days. This significant decline is attributed to the effects of the banking crisis in Japan.

Although it closed July with a high performance compared to other cryptocurrencies, the price of XRP has remained below $ 0.7 levels for the last few days. Investors are concerned about XRP's poor performance in the overall cryptocurrency market. This significant price drop is thought to be due to the ongoing banking crisis in Japan.

In particular, Japan's banking sector has been in a difficult situation since mid-July, when the Bank of Japan decided to intervene in the foreign exchange market in order to prevent the depreciation of the yen. The foreign trade exchange rate was hovering near 162 yen/US dollar, and the bank's intervention was a critical step to prevent it from falling below this level. Intervention efforts first began by trading against light hedge funds, but the exchange rate has recently fallen to around 157.5 yen/dollar. The Bank of Japan took similar measures against large speculators, which led to serious liquidations as speculators began selling their positions.

These developments affected asset managers because brokers began selling in large quantities. The businesses of SBI Holdings, Mitsubishi UFJ and others, which are among the important partners of Ripple Labs, in Japan were negatively affected by this situation.

As a result, these institutions were forced to sell their positions, which may have caused XRP to be offered for sale in the market.

Analysts' Forecasts
Analysts state that the banking crisis in Japan may be an important factor in the recent price decline of XRP. XRP has been consolidating in a symmetrical triangle for the last six years, which is often considered a harbinger of a bull market.

Investors in the XRP community are looking forward to a rally in which the price could rise to $0.9 to $1 levels. However, considering the uncertainties created by the banking crisis in Japan, it seems difficult to overcome these resistance levels for now.

At the time of writing, XRP dropped by 5.18% in the last 24 hours to $0.5763. This situation caused it to remain at a level well below the forecasts.

PLEASE READ CAREFULLY FOR A GIFT OF 10 DOLLARS.

My friends, you know that we, the publishers, are doing everything we can for you here. We are informing you about the services and facilities offered to us by our authorities. I have never stopped supporting both the Cryptocurrency market and you as much as I could, and on the contrary, I am trying to provide more support.

THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE SPECIALLY FOR ME BY BINACE. YOU CAN GET CONFIRMATION ABOUT THIS BY CONTACTING LIVE HELP. THIS IS A 10 DOLLAR CAMPAIGN MADE TO YOU THROUGH ME.

Now I will tell you how to receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.

So who will benefit?

Our friends who have not activated the futures section yet, while activating your FUTURES trading section, you will earn 10 dollars when you open it by entering my reference code 88623008.

I EXPLAIN IN DETAIL.

My brothers and sisters who have become a Binance member without reference, please listen carefully;

When you do what I say, you will receive 10 USDT.

Enter the Futures Section from your application,

On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,

My brothers and sisters who want to complete this transaction and receive the 10 USDT reward by MAY 1 can do so. After activating your account, all you have to do is open your first futures transaction.

The first 1,000 brothers to open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.

So let me give you a tactic like this: Even if you open and close 20x with a $5 transaction, you will be entitled to the reward.

However, even if you do this after May 1, your reward will not come. So get it done by May 1st. In fact, right now I say you can fix it in 5 seconds.

Very simple. Go to Futures, enter my reference code 88623008 and activate the account. Afterwards, just open a total of 200 USDT transaction and get 10 USDT reward.

WHEN WILL THE AWARD COME?

Your 10 dollar reward will arrive in the REWARDS section of your Binance application within 30 days, starting from May 1st. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.

You can help your friends in need by sharing this post.

BY THE WAY, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. IF YOU HAVE NOT FOLLOWED YET, DON'T FORGET TO FOLLOW. KIND REGARDS.