Ripple Price Prediction: XRP Record Slight Gains, Will It Rally to $0.55?
XRP has shown slight gains today, September 26. Its price at 5:22 a.m. EST is $0.5, representing a 1.2% increase in the last 24 hours. However, it is slightly down by 1.7% in the last seven days, confirming that sellers are still active.
Notably, XRP still struggles under the shadow of Ripple's legal battle with the U.S. SEC. The firm's CEO, Brad Garlinghouse, recently revealed that 80% of Ripple Labs hiring this year will be outside the U.S.
Ripple CEO Brad Garlinghouse says over 80% of hiring this year will be outside US, where the crypto payments company is embroiled in a long-running legal dispute with the SEC https://t.co/BqKGTRFK95 pic.twitter.com/nZJyMMBvpY
- Bloomberg Crypto (@crypto) September 13, 2023
Even at that, the network continues to record positive achievements. For instance, XRP still retains an impressive market cap of $138.2 million with over 299.9 thousand holders.For now, its next price moves largely depend on investor sentiment and the general outlook of the crypto market.
Ripple's CFO Promotes Crypto-Enabled Payment: Could This Skyrocket XRP's Recent Gains?
24/7/365 availability
Transparency throughout the journey
Low cost
Instant settlement
Ripple's Aaron Sears makes the case for crypto-enabled payments in the latest #CryptoInOneMinute.
pic.twitter.com/mw4dCOxBfw
- Ripple (@Ripple) September 22, 2023
Ripple's CFO Aaron Sears discussed crypto payments on a September 22 edition of CryptoInOneMinute. According to the CFO, the advantage of using crypto payments is round-the-clock availability at low cost.
Notably, the XRP Ledger facilitates fast transaction settlement in 3-5 seconds with a low fee of $0.0002.Also, the XRP Ledger is scalable and can handle approximately 3,4000 transactions per second. Remarkably, over 80 million transactions have been closed by the ledger since 2012.
Furthermore, it is decentralized and about 61,000 times more energy efficient than proof-of-work blockchains.More investors will likely adopt XRP tokens based on these advantages, which will likely cause a positive price trend.
Ripple's Focus on CBDCs Will Likely Contribute To More Price GainsNine out of ten central banks are actively exploring CBDCs and @juniperresearch predicts CBDC payments could reach $213 billion by 2030.
With global adoption on the rise, learn how #CBDCs are poised to reshape the global banking system.https://t.co/2vG3kFJPm4
- Ripple (@Ripple) September 19, 2023
In a Tweet on September 20, Ripple Labs stated that nine of ten central banks are exploring CBDCs.Juniper Research shows CBDC's payment will reach $213 billion by 2030. Also, a Ripple Labs report in May 2023 reveals that digital assets such as CBDCs will grow in relevance.
Furthermore, research in June 2023 reveals that over 114 countries are in varying stages of CBDC development.Also, China is leading the digital transaction race with over $3.6 billion in digital Yuan transacted each month.
Ripple Labs believes that the future of CBDCs is certain, and it unlocks benefits such as stability and improved data storage.Consequently, Ripple Labs is positioned as a top CBDC provider, and this technology will likely drive XRP's gains.
Indicators Suggest More Price Decline for XRP, What's the Support?
XRP is trading in a sideways trend on the daily chart, showing traders' indecision in the market today.Also, XRP has formed small-sized candles over the last few days, confirming a drop in trading activity.
Additionally, the Relative Strength Index (RSI) indicator is descending, confirming that the sellers are active. If the RSI drops to 40, it confirms an increase in selling pressure on the asset.Furthermore, the Moving Average Convergence Divergence is dropping and may soon retrace below its signal line.
The MACD confirms that the sellers are returning, and a price drop is imminent.Also, the Histogram bars are fading from green, confirming that the buyers are beginning to close long positions.
XRP Faces Resistance At $0.51
XRP found support at the $0.49 price level as it attempted to break above the $0.51 resistance level.However, the selling pressure on the asset is still high, confirmed by the red candle formed today. Therefore, XRP will likely drop to rest on the $0.49 support.
A decline below this level will drop XRP to the next support level of $0.47. Once it happens, XRP will likely enter the oversold region before the buyers re-enter the market to force a rally.
Based on this analysis, XRP will not attain the $0.55 price level in the short term. However, it will remain above $0.5. While XRP faces price uncertainty, investors can consider Bitcoin BSC an eco-friendly crypto project.
Bitcoin BSC Offers Investors an XRP AlternativeBitcoin BSC is an exciting crypto project built on the BNB Smart Chain Network. It relies on an eco-friendly staking mechanism to reward the holders of its utility token, BTCBSC. Based on its tokenomics, the total supply is capped at 21 million tokens, with 6.125 million set aside for the presale.
Exploring the benefit of #BitcoinBSC on the BNB Smart Chain!
Built on #Ethereum's secure code, it offers robust security and smart contract capabilities, making it a game-changer for the #CryptoCommunity.
#BNBSmartChain pic.twitter.com/eulGIV9x89
- Bitcoinbsc (@Bitcoinbsctoken) September 25, 2023
Furthermore, Bitcoin BSC draws attention from the benefits ofBNB Smart Chain Network, such as low transaction fees. Also, transactions are executed faster than on Ethereum and securely based on the cryptographic techniques.
Bitcoin BSC Presale Nearly Sold Out! Investors Must Act FastBTCBSC is on presale, with each token worth a uniform price of $0.99 in the two stages. The first stage of the presale is over after achieving the soft cap target of $4 million.
Update from #BitcoinBSC!
We have passed the $5.2 million milestone!
pic.twitter.com/fScA6qTjyA
- Bitcoinbsc (@Bitcoinbsctoken) September 26, 2023
The second presale stage is ongoing, with the total amount already exceeding $5.36 million. Notably, this second stage's presale hard cap target is $6.063 million. Potential buyers can purchase these tokens with BNB, USDT, or ETH using a secure crypto wallet.
However, the minimum purchase threshold for BTBBSC is $10. Investors must act fast before the presales end and the token lists on exchanges.
Staking Rewards Boosts Ecosystem Long-Term ValueMeanwhile, Bitcoin BSC supports staking, and users are rewarded every ten minutes. However, the minimum lock-up time allowed is seven days.Impressively, 69% of BTCBSC's total supply is reserved for staking rewards.
However, they will be distributed over 120 years to control inflation.As of today, September 26, over 2.703 million BTCBSC tokens have been staked at an APY of 97%. Staking rewards are distributed based on a user's percentage stake in the pool and the APY.
Apart from staking rewards, Bitcoin BSC is hosting a referral reward program. Users can earn up to 5% from tokens bought through their referral links.Based on its impressive features and strong community, BTCBSC will likely surge in value after listing.
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