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XRP, the seventh largest cryptocurrency by market capitalization, is trading in green against a backdrop of several cryptocurrencies that are in red as investors await the Federal Reserve's highly anticipated policy meeting, during which central bankers are expected to lower interest rates for the first time since 2020.
In an eye-catching transaction that has left the XRP community buzzing, Chris Larsen, Ripple's co-founder, recently transferred a whopping 50 million XRP tokens, valued at around $29.1 million, to an unknown wallet. Whale Alert, a wallet tracking service, detected the transaction, which sparked widespread curiosity and speculation.
The 2024 global stock market capitalization stands at around $118 trillion. What would happen to the XRP price if Ripple controlled 20% of the global stock market?
Ripple co-founder and executive chairman Chris Larsen made the first transfer of XRP after 11 years, sparking speculation within the crypto community. XRP price soared over 4% in the last 24 hours after Chris Larsen moved 50 million coins to another wallet.
XRP Healthcare, a blockchain-based healthcare firm, has endorsed Donald Trump for president, highlighting a growing trend of crypto leaders voicing political support as the 2024 U.S. election approaches. XRP Healthcare Sides with Trump in 2024 Race XRP Healthcare, a healthcare firm built on the XRP Ledger, has openly supported Donald Trump, the Republican candidate for president.
Ripple's XRP has shown resilience in the market, outperforming many other altcoins. Over the past week, XRP has gained nearly 8%, and while its performance in the last month remains a modest 3% increase, its year-to-date gains are a staggering 177%.
Amidst the extremely volatile landscape of cryptocurrencies, Rexas Finance (RXS) is shaping up as a leader in the area of real estate. It is a decentralized finance (DeFi) that is trying to change the traditional structured asset management and trading in a revolutionary way through a unique tokenization of real estate. As of now, Rexas Finance (RXS), which is under $0.1, has attracted enough interest and investment to instil confidence in its future. Such projections indicate that it can be worth $12 by 2025, which attests to the excitement and hope surrounding this novel concept.
Amid a recovering crypto market, the risk appetite of bulls and smart money is increasing. As a result, the demand for altcoins increases and teases a high-speed trend reversal rally. With a bullish trend in XRP and its rival under $1, the race to hit the psychological is neck to neck.
According to wallet tracking service Whale Alert, 50 million XRP tokens (roughly $29.1 million at current prices) were recently transferred from Ripple co-founder Chris Larsen to an unknown wallet.
XRP price has struggled to sustain above the key $0.60 mark, coinciding with the 50% Fibonacci Retracement line. Despite multiple attempts, the altcoin has consistently failed to breach this resistance level.
Attorney John Deaton has strongly criticized the U.S. Securities and Exchange Commission (SEC) for its handling of cryptocurrency regulation, particularly in relation to the Ripple case. For the unversed, Stuart Alderoty, Ripple's Chief Legal Officer, recently announced the end of this four-year conflict, with the SEC even apologizing for mischaracterizing XRP.
XRP has experienced a notable 9% increase in value since early September. However, the cryptocurrency is encountering significant resistance at the $0.60 mark, raising concerns about its ability to sustain further gains.
XRP price found support near the $0.5600 zone. The price is again rising and might aim for a break above the $0.60 resistance zone.
Ripple's long legal battle with the SEC has finally ended, marking a big win for the cryptocurrency world. The case, which centered on whether XRP is a security, concluded with Ripple paying a reduced fine of $25 million instead of the original $2 billion.
Cryptocurrency Prices Today (September 17): The broader market showcased a highly volatile movement over the past day, raising investor speculations globally. Bitcoin (BTC) price faced hurdles to gain a break above $58K, while ETH traded at $2,200.
XRP has been re-listed on Robinhood, the popular trading platform. This move comes on the heels of Ripple's significant legal victory over the U.S. Securities and Exchange Commission (SEC), bringing a wave of optimism to the crypto community.
XRP community, a notable crypto researcher has fresh debate about the potential future price of XRP. The conversation centers around a provocative claim made by Crypto Tank, a self-described analyst in the cryptocurrency space, suggesting that XRP could skyrocket to $100 if it secures just 10% of the daily transaction volume managed by the Society for Worldwide Interbank Financial Telecommunication (SWIFT).
Investor demand drives XRP higher as the SEC remains silent on potential Ripple case appeal.
Despite its ongoing struggles on the market, Ethereum has reached a critical price point. When compared to Bitcoin, ETH has started to lose traction after dropping below the crucial 0.4 BTC ratio for the first time in more than three years.
The SEC's decision not to pursue an appeal marks a decisive end to the legal conflict over whether XRP should be classified as an unregistered security. This lawsuit has been a significant hurdle for Ripple, impacting its operations and investor confidence.
XRP is exhibiting clear indications of a potential major upside breakout, driven by the formation of bullish triangle pattern.
XRP has achieved another major milestone with a new listing from Robinhood, one of the top American financial services companies. This move comes on the heels of Garyscale's launch of an XRP trust and is expected to boost XRP's global exposure, potentially triggering a price rally above $1.
The XRP price outperformed during the Monday market correction and surged 3% to trade at $0.591. The bullish momentum is gradually accelerating for the Ripple coin as the risk of U.S SEC appeal is diminishing amid the other developments.
