Whale Activity in the Crypto World
If you’ve been closely monitoring the crypto world, you might have noticed the sudden surge in whale activity for XRP. One notable instance is a significant transfer of over 46 million XRP to centralized exchanges by a single whale, sparking conversations in the industry. This event coincided with XRP’s price dip of 0.51% over the last 24 hours, currently standing at $0.6053. The token also experienced a modest 1.06% decrease over the week and a 4.28% dip over the month.
500+ Partnerships and Beyond
During a Ripple Payment Roadshow in Melbourne, Fiona Murray, Ripple’s VP of Sales in APAC, disclosed an interesting piece of information – Ripple has formed partnerships with over 500 companies, using XRP for international transactions. This revelation raises the question of whether Ripple truly needs the US given its extensive network of partners across the globe.
Ripple has been making strategic moves in the payment industry, joining forces with major players like MFS Africa (now Onafriq) to showcase its On-Demand Liquidity as Ripple Payments. This is not just a superficial change; it represents a user-friendly upgrade while maintaining its core functionality. XRP is being utilized to settle transactions between different currencies, and specialists anticipate that this initiative could propel XRP to new record highs.
The Burning Question: Can XRP Reach $1?
The future trajectory of XRP hinges on critical price levels. If XRP manages to break the $0.6177 mark, it could surge towards $0.640 and potentially reach $0.6646. However, if it fails to sustain itself above $0.6177, it might indicate a downward trend, leading to a test of support at $0.5962 and a potential drop to $0.5730. The outcome depends on a significant shift in trend, and XRP could encounter a substantial correction, testing crucial support at $0.5374 in the coming days. The immediate movement depends on whether the bulls or bears take charge.
Strategic Revamp by Ripple
This strategic overhaul aligns with Ripple’s objective to attract new corporate clients based in the US, particularly those without a transmitter license. The ultimate goal is to facilitate seamless global transactions for all parties involved.
Hot Take
XRP is experiencing a whirlwind of activity, from whale transfers to significant partnerships and strategic upgrades by Ripple. The big question remains: can XRP hit the coveted $1 mark? Amidst all this, Ripple is positioning itself to attract more US-based corporate clients in a bid to streamline global transactions.
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