Ripple’s New Banking Strategy Could Propel XRP Price to $4?
Ripple is positioning itself for a major price surge with its latest banking strategy, which focuses on partnerships with small banks. The August 30 whitepaper details Ripple’s plan to use its real-time gross settlement system (RTGS) and blockchain technology to enable faster and cheaper payments by removing intermediaries.
Key Highlights:
Banking Partnerships: Ripple aims to empower small banks with custom-tailored solutions using its xRapid and xCurrent products, leveraging XRP for real-time cross-border payments via On-Demand Liquidity (ODL).
Market Reaction: XRP’s price is consolidating within a bullish pattern, reminiscent of the 2020 rally where XRP surged 742%. Analysts suggest a breakout could trigger a similar rally, potentially pushing XRP to the $4 mark.
SEC vs. Ripple Lawsuit: Following the lawsuit’s conclusion favoring Ripple, there’s a low probability of an SEC appeal, which boosts investor confidence.
Whale Accumulation: Large holders of XRP are accumulating, similar to trends seen before the 2020 rally, further supporting a bullish outlook.
However, a breach below the $0.522 support level could invalidate this bullish scenario, potentially driving the price down to $0.382.
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