Ripple Sees Growth in Whale Activity & Partnerships: XRP Bull Rally Near?

30 November 2023

in XRP

Reading Time: 2 mins read

In a recent crypto stir, XRP took center stage with a surge in whale activity. A hefty transfer of over 46 million XRP to centralized exchanges by a single whale has tongues wagging. This twist in the tale mirrors XRP’s recent price dip of 0.51% in the last 24 hours, currently hovering at $0.6053. Over the week, the token saw a modest 1.06% decrease, with a 4.28% dip over the month.

500+ Partner’s And Counting…

At a Ripple Payment Roadshow in Melbourne, Fiona Murray, Ripple’s VP of Sales in APAC, dropped a bombshell. More than 500 companies are partners in crime with Ripple, using XRP for international transactions. The burning question: Does Ripple really need the US?

21Shares files S-1 application for an XRP ETF

1 November 2024

Ripple CEO optimistic about crypto post-election, regardless of outcome

24 October 2024

Murray, during the event, stressed Ripple’s commitment to practicality. She highlighted how Ripple’s tech, especially the XRP Ledger (XRPL), is tuned for speedy payments. The process is as smooth as your morning coffee run—an appealing alternative to US CBDC initiatives. Recently, 111 queries supporting XRP as a simplified payment method reached the Fed, signaling a call for a digitally-enabled era.

Also Read: MasterCard Partners With Ripple: Swipe Your Debit Card to Use XRP!

Mention of the OG partners

Among the 500-plus Ripple partners, major financial institutions, including the silent giant Bank of America, use XRP for smooth cross-border transactions. While Murray kept names under wraps, Ripple’s impactful partnerships speak volumes.

Ripple’s been flexing its muscles in the payment scene, teaming up with big players like MFS Africa (now Onafriq), showcasing its On-Demand Liquidity as Ripple Payments. This isn’t just a facelift; it’s a user-friendly upgrade while keeping its core features. XRP is used to settle transactions between different currencies, and experts speculate this move could push XRP to new all-time highs.

The Big Question: Can XRP Hit $1?

The future of XRP depends on critical levels: breaking $0.6177 could push it towards $0.640, potentially climbing to $0.6646. Failing to stay above $0.6177 might signal a downward trend, testing support at $0.5962, possibly dropping to $0.5730. The scenario rests on a significant trend reversal, and XRP might face a substantial correction, testing critical support at $0.5374 in the upcoming days. The immediate movement hinges on whether the bulls or bears take control.

Read More: Ripple News: Federal Reserve Examines XRP’s Role in CBDCs

This strategic revamp aligns with Ripple’s goal to attract new U.S.-based corporate clients, especially those without a transmitter license. The mission? Ensure hassle-free global transactions for everyone involved.

Credit: Source link

[crypto-donation-box]