XRP price is far from unraveling from the selloff triggered by the FTX crypto crash. However, the bulls seem to be holding firmly to a support set at $0.3500. As the chart over the eight-hour period highlights, XRP tapped into a crucial area of demand. Here’s where it’s heading next.
Ripple’s on-demand liquidity now spans the globe
Ripple kicked off this week with news regarding the expansion of its on-demand liquidity (ODL) solution in Africa. The international money transfer company states that “Africa holds 70% of the world’s $1 billion mobile money value”. The partnership with MFS Africa will “further improve the digital payment rails across the continent.”
MFS Africa has one of the largest mobile money footprints in Africa. The company will leverage Ripple’s ODL solution to streamline real-time mobile payments for its customers in 35 countries.
The ODL solution eliminates the frictions and bottlenecks that hinder cross-border money transfers. It is suitable for Africa, thanks to its low transaction fees and faster payment settlement times.
“The Ripple MFS Africa partnership represents a confident, important and bold first step for our crypto strategy to leverage blockchain technologies to amplify our impact on consumers and businesses on the continent. Growth in a new economy”, a statement by Dare Okoudjou, CEO of MFS Africa, reads in part.
Via a Twitter post on Wednesday the 16th, Ripple reported that the ODL solution “has been widely adopted this year, and we have the technology, the global network, and the diverse list of customers to prove it.”
Despite the ongoing case between Ripple and the Securities and Exchange Commission (SEC), the company has continued with its global expansion plan. It is this focus on growth and development that could give Ripple an edge over its competitors.
XRP Price Analysis as XRP Becomes 7th Largest Cryptocurrency
XRP is now the seventh largest cryptocurrency in the market after toppling Dogecoin. The token boasts a market capitalization of $19 billion, with $1.4 billion traded on exchanges in the last 24 hours.
This bullish outlook in XRP is likely powered by the sixth annual RippleSwell Global conference in London. Ripple has over the years brought together key industry leaders, speakers, and esteemed customers to discuss the latest happenings in crypto while looking at the future of the industry.
The direction the Moving Average Convergence Divergence (MACD) indicator is heading in the same 8-hour chart reinforces the positive outlook seen in the price of XRP. The buyers seem very attached to a buy signal sent when the 12-day exponential moving average (EMA) (in blue) crossed above the 26-day EMA (in brown).
The upward trend in XRP prices is likely to continue alongside the movement of the MACD, which is currently watching the middle line. Buy orders will become very profitable if the MACD moves into the positive region above the middle line (0.00).
XRP price is trading at $0.3727 at the time of writing. A pause and hold above its immediate resistance at $0.3800 is needed to encourage investor confidence in the expected move to $1. Some traders will be looking for a take profit target at $0.4200, close to the 100-day EMA (in blue), although more optimistic investors may wait for XRP to mark $0.50 before pulling back. table money.
Crypto Alternatives Offering Faster Returns
The overall outlook for XRP looks bullish, and a win against the SEC would cement its path to $1. However, the outcome of the case is still months away, so some investors have started looking elsewhere for short-term profits. The list below features some of the most potential crypto pre-sales in the market, allowing investors to enter on the ground floor.
Trade Dash 2 (D2T)
Social trading has, over the years, demystified trading, and Dash 2 Trade is fast becoming a forerunner in this arena. Users of this platform will have the ability to access world-class crypto analytics, which will make it easier for investors to make informed decisions.
Dash 2 Trade users will have the opportunity to get first-hand information to participate in presales, thanks to a bespoke scoring system. In close connection with presales, users will receive alerts on new exchange listings where they can capitalize on quick wins.
D2T is currently selling at 0.0513 USDTbut this price will rise to 0.0533 USDT in the next presale stage.
RobotEra is a new Metaverse world where users will have the ability to own their own piece of land and build on it, as they wish.
The platform’s native token, TARO, will be used as the internal global currency. It will support the buying and selling of NFT robots, which can be traded with other users for profit.
The RobotEra presale is already underway and selling out fast. TARO tokens are currently selling at $0.020, but that price is expected to drop to $0.025 in the next leg, so interested investors will need to hurry.
Calvary (RIA) is a play-to-earn video game in which players can collect, battle and trade NFT-based cards. In development for about a year, its alpha is planned for the beginning of next year. Interestingly, this will allow gamers to play it without having to hold any crypto, which could make it more accessible to more users.
Additionally, its native RIA token can be used to purchase in-game items and for staking, giving it a strong use case within its ecosystem. The token’s presale raised just over $1.7 million and is currently in its fourth stage, during which 40 RIA can be obtained for 1 USDT.