Analysts Predict XRP Price to Surpass Previous ATH Soon, Here’s Why
The expectation that XRP will surpass its ATH is directly tied to the upcoming Bitcoin halving.
The expectation that XRP will surpass its ATH is directly tied to the upcoming Bitcoin halving.
Amid the XRP price rally, its Relative Strength Index (RSI) surged from 62 to 72 in the past day, indicating a slight overheating of the token.
Although Garlinghouse did not speak specifically on an XRP ETF, he noted that there will likely be other crypto ETFs with time.
The rationale behind the cancellation stems from regulatory constraints, specifically pertaining to the prohibition of crypto exposure in funds governed under Undertakings for the Collective Investment in Transferable Securities (UCITS ) by Irish authorities.
As the overall market conditions got significantly bullish today, XRP broke out from the falling channel pattern.
The Flare Network has integrated XRP through the LayerCake bridging protocol, thus increasing XRP’s real-world utility amid the mass adoption of digital assets.
The XRP price has come under strong selling pressure amid the news of alleged hack. Ripple co-founder has confirmed investigation with law enforcement agencies.
As the court hearing progresses, the fate of Coinbase remains uncertain. If Judge Failla denies Coinbase’s motion for dismissal, the case will proceed to discovery.
Ripple first hinted at the possibility of going public in 2022. At the time, Garlinghouse said the company would make the move after it concluded its ongoing court battle with the SEC.
Garlinghouse noted that at some point, the SEC will need to appoint a new chief to serve the American people better.
Ripple token or XRP is an independent digital asset, native to the Ripple Consensus Ledger. Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native currency (XRP).
Released in 2012, Ripple purports to enable “secure, instant and nearly free global financial transactions of any size with no chargebacks.” It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes. At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process.