Crypto NewsRipple (XRP)

XRP price analysis: buyers are back Ripple announces partnership with Xange.com

Ripple‘s XRP saw some positive moves in early trading on Monday as buyers drive the price past the $ 0.80 level and may prepare to test $ 0.90 soon, with some fundamental developments giving cause for celebration . At the time of writing, XRP / USD is trading at $ 0.894.

Despite the ongoing legal uncertainties, several analysts are optimistic that Ripple’s Cryptocurrency will see a strong upturn in the next year after the litigation is closed. One of the biggest factors driving the bullish predictions is how the company managed to expand its presence outside of the US and in Asia and the Middle East, and managed to make it into the top 10 cryptocurrencies Market capitalization to stay even though it has been deleted from several leading cryptocurrency exchanges around the world. Even if Ripple loses its lawsuit against the SEC, in the worst case scenario, the company would pay a hefty fine and relocate its operations outside of the US, but the depreciation of XRP would be temporary and could rebound due to the increasing adoption of Ripple technology from financial institutions to others Markets.

Ripple’s partnership with Xange.com increases the attractiveness of XRP

An interesting recent update that has recently increased buying interest in XRP is Ripple Announcement of an exclusive partnership with Xange.com, a UN-registered and sustainability-oriented stock exchange. Xange plans to develop a carbon credits solution for the XRP Ledger (XRPL), one of the first and most established climate-neutral ones BlockchainNetworks in the market.

The official press release accompanying the announcement stated, “Xange.com has chosen to build on the XRP ledger for its performance, scalability and inherently green features. The XRP Ledger was developed with sustainability in mind and is one of the first major climate-neutral blockchains. Due to its federated consensus algorithm, the XRPL is significantly more energy-efficient than proof-of-work blockchains and ensures cost-effective transactions. “

Meanwhile, the XRP Army has heavily criticized a comment recently published in the Wall Street Journal by former SEC chairman Jay Clayton discussing the benefits of tokenizing the U.S. financial market and payment systems. Several owners and supporters from the XRP community were quick to point out the irony of his proposal, especially since the SEC is trading Ripple for the sale of its crypto as “unregistered securities” and takes a far more unfriendly approach to cryptocurrencies than its former chairman suggests.

XRP / USD technical analysis

If you look at the 4 hour chart of XRP / USD, the moving averages along with the MACD indicate a strong bullish bias among investors. However, the stochastic RSI and momentum indicator also indicate some interest in selling.

XRP/ USD

Ripple’s XRP crossed the pivot point at $ 0.815 and also broke the first resistance level at $ 0.869. The next obstacle buyers might encounter is at the second resistance level at $ 0.903 so let’s watch this closely.

Source: Crypto News Deutsch

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