Monday, July 22, 2024
Home Cryptocurrency Recent Ripple Major Advancements and Top XRP Price Predictions

Recent Ripple Major Advancements and Top XRP Price Predictions

by xyonent
0 comment
Rippleupdate Cb.jpg

summary

  • Ripple plans to launch its stablecoin, Ripple USD (RLUSD), on the XRP Ledger and Ethereum in 2024, despite criticism from the SEC.
  • Meanwhile, the price of XRP has been falling, but some analysts see current levels as a buying opportunity.

What’s the latest on Ripple?

One of Ripple’s latest developments is the launch of a stablecoin pegged to the U.S. dollar, which is meant to bridge the gap between traditional finance and the cryptocurrency world.

Earlier this week, the company Said that Intention It was named Ripple USD (ticker RLUSD), Intention It will be available on the XRP Ledger and Ethereum. launch Planned The date is 2024, but the exact date is unknown.

Despite not even being operational yet, the stablecoin has already received criticism from the U.S. Securities and Exchange Commission (SEC), It is called It is an “unregistered crypto asset.”

The company and Ripple have been at odds for years, and anyone who has followed developments in the cryptocurrency industry over the past few years will know about the lawsuit that was filed between the two companies over allegations that the company engaged in unregistered securities offerings with its sale of the XRP token.

The case recently reached the trial stage, with the SEC seeking to impose a $2 billion fine on Ripple, an idea that Ripple did not welcome. Suggest They argue that the fine should not exceed $10 million. One of their main arguments is that there is no direct allegation of fraud in the case.

To find out more about the legal battle between the two organisations, check out our exclusive video below.

XRP Price Outlook

Ripple’s native token is in the red on a weekly basis and is currently trading at around $0.47. Still, analysts like X-user EGRAG CRYPTO are unfazed and see current levels as a buying opportunity.

trader Touched The Relative Strength Index (RSI) has reached its lowest point over the past few days. At the moment, this ratio is stand It was 42, but dropped below 25 last week.

The XRP RSI measures the speed and change of price fluctuations and can hint at the asset’s next potential move. When the ratio exceeds 70, it indicates that the token may be overbought and a correction could be imminent.

prior to Matthew Dixon predicted that XRP’s valuation could fall if inflation spikes in the United States. However, this percentage is lower than expected. Token The price soared to nearly $0.50. But soon after Soaked It rose again after the US Federal Reserve decided to keep interest rates unchanged.

Special Offers (Sponsored)

Free $600 on Binance (CryptoPotato exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 on Binance. (Full details).

BYDFi Exchange Exclusive Offer for 2024: Up to $2,888 in welcome rewards, sign up using this link and open a 100 USDT-M position for free!

You may also like

Leave a Comment

About Us

Investxyon

At InvestXyon, we empower individuals with knowledge for informed investing, financial navigation, and secure futures. Our trusted platform covers investments, stocks, personal finance, retirement, and more.

Feature Posts

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!