Ripple crypto is a payment settlement system and currency exchange network with the ability to process transactions globally. It was developed as a replacement for SWIFT, so users can send money worldwide with fewer issues, delays, and fees. Thus, ripple facilitates exchanges for fiat currencies as well as cryptocurrencies, acting as a trusted agent between two parties - providing transaction confirmations. The network is used by large financial institutions.
The Ripple coin is XRP, an asset which runs on the XRP Ledger, and it finances transactions on the Ripple network. There are no new XRP mined; all 100 billion XRP were created at the beginning and are then released periodically to users.
Here you can read and comment on all posts made by Strategists about Ripple XRP. See all Ripple price predictions in real time and make the best use of their crypto knowledge.
This week we highlight Ripple XRP - read our deep dive on the asset on our blog: https://www.iconomi.com/blog/ripple-xrp-rides-the-crypto-wave
What you'll find:
Ripple's $XRP has recently emerged as a focal point in the cryptocurrency landscape, especially among global central banks. A comprehensive report from the Basel Committee on Banking Supervision (BCBS) highlights the growing engagement of central banks with digital assets, positioning XRP as a significant player.
Banking Sector's Crypto Engagement
The BCBS report reveals a notable trend in the global banking sector's cryptocurrency portfolio. $XRP , as the third-largest altcoin, accounts for 2% of total exposure, valued at approximately $205 million.
Regulatory Landscape
The ongoing SEC vs. Ripple case continues to influence XRP's trajectory. The recent involvement of Kraken in similar allegations by the SEC underscores the broader regulatory efforts targeting crypto exchanges.
Market Trends and Technical Analysis
XRP's market performance shows a modest dip to $0.5971, maintaining a 15% gain over the last 30 days. Technical analysis suggests a consolidation phase, with the 30-day moving average indicating a potential short-term decline.
Elon Musk's Influence and Institutional Interest
Recent developments, including Elon Musk's tweet about SpaceX, have indirectly boosted $XRP narrative. Despite facing regulatory challenges, institutional interest remains high, with a net inflow of $500,000 in XRP funds over the past week.
As the bull seems ready for another upleg after the recent small correction, we reposition more agressively.
We readded outperforming $SOL and we added the star of this bullmarket so far $RUNE.
We sold $XRP as it continues to disappoint. We still think $XRP might be one of the best performers of this bullmarket, but it is hard to trade due to its history of big spikes that are sold off immediately. We wait for a solid uptrend in $BTC value that we can trust before investing back in $XRP.
We still expect $ETH to outperform $BTC from here and we think the narrative of the $BTC spot-ETF approval will quickly change to the $ETH spot ETF approval. That's why we increased our stake in $LDO as well.
Let's go! 🚀🚀🚀
The incident of a false BlackRock Inc. fund filing for $XRP underscores the susceptibility of the crypto market to misinformation. This episode, which led to a brief rally in XRP, highlights the market's sensitivity to regulatory news and rumors, especially regarding potential ETF approvals.
Such misinformation can have real consequences, affecting token prices and market stability. While this event was quickly identified as a hoax, it reflects the ongoing challenges in ensuring credible and accurate information in the crypto space.
