XRP price is far from untangling from the sell-off triggered by the FTX crypto crash. However, bulls seem to hold firmly to a support established at $0.3500. As highlighted in the eight-hour time frame chart, XRP has tapped into a crucial demand area. Here’s where it’s headed next.
Ripple’s On-Demand Liquidity Now Spans Worldwide
Ripple kicked off this week with news regarding expanding its On-Demand Liquidity (ODL) solution to Africa. The international money transfer company says, “Africa holds 70% of the world’s $1T mobile money value.” The partnership with MFS Africa “will further enhance 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 across 35 countries.
The ODL solution does away with frictions and bottlenecks that are ailing money transfers across borders. 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 at MFS Africa, reads in part.
Via a Twitter post on Wednesday, 16, Ripple reported that the ODL “solution has seen substantial adoption 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 its global expansion plan. It is this focus on growth and development that could be giving Ripple an edge over its competitors.
XRP Price Analysis as XRP Becomes 7th Biggest Cryptocurrency
XRP is now the seventh biggest cryptocurrency in the market after toppling Dogecoin. The token boasts $19 billion in market capitalization, with $1.4 billion traded across exchanges over the last 24 hours.
This optimistic outlook in XRP is probably fueled 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 events in the crypto space while, at the same time, looking at the future of the industry.
The direction the Moving Average Convergence Divergence (MACD) indicator takes in the same eight-hour time frame chart reinforces the positive outlook seen in XRP price. Buyers seem to be holding dearly to a buy signal sent when the 12-day Exponential Moving Average (EMA) (in blue) crossed above the 26-day EMA (in brown).
XRP price uptrend is expected to continue alongside the MACD’s movement, currently eyeing the mean line. Buy orders will turn highly profitable if the MACD crosses into the positive region above the mean line (0.00).
XRP price trades at $0.3727 at the time of writing. A break and hold above its immediate resistance at $0.3800 is needed to encourage investor confidence in the expected move to $1. Some traders will look for a take-profit target at $0.4200, near the 100-day EMA (in blue), although the most bullish investors could wait until XRP tags $0.50 before taking some money off the table.
Crypto Alternatives Offering Quicker Returns
XRP’s overall outlook seems bullish, and a win against the SEC would cement its path toward $1. However, the outcome of the case is still months away, and so some investors have started looking elsewhere for shorter-term profits. Listed below are some of the highest potential crypto presales on the market, enabling investors to get in at the ground floor.
Dash 2 Trade (D2T)
Social trading has, over the years, demystified trading, and Dash 2 Trade is on the path to becoming a frontrunner in this space. Users on this platform will have the opportunity to access world-class crypto analytics, making it easier for investors to make informed decisions.
Users on Dash 2 Trade will have the opportunity to get firsthand information to participate in presales, thanks to a bespoke scoring system. In close relation to presales, users will get alerts on new exchange listings where they can capitalize on quick gains.
D2T currently sells for 0.0513 USDT, but this price will go up to 0.0533 USDT in the next presale stage.
RobotEra is a new Metaverse world where users will have the opportunity to own their own land and build on top of it, whatever they wish.
The platform’s native token, TARO, will be used as an in-house world currency. It will support buying and selling of NFT Robots, which can be traded with other users for profit.
RobotEra’s presale is already underway and selling out fast. TARO tokens are currently selling for $0.020, but this price is set to jump to $0.025 in the next stage, so interested investors will need to hurry.
Calvaria (RIA) is a play-to-earn video game in which players can collect, battle with and trade NFT-based cards. Under development for around a year, its alpha is due early next year. Interestingly, it will enable gamers to play it without having to hold any crypto, something which could make it more accessible to a wider pool of users.
In addition, its native token RIA can be used to purchase in-game items and for staking, giving it a strong use case within its ecosystem. The presale for the token has raised just over $1.7 million and is currently in its fourth stage, during which 40 RIA can be had for 1 USDT.