#MarketSentimentToday
Ripple pledges 1 billion XRP via XRPL Japan-Korea Fund, below $0.50
Ripple launched XRPL Japan-Korea Fund, expanding its 1 billion XRP commitment.
The remittance service will incorporate XRPL and finance initiatives with Japanese and South Korean enterprises.
XRP is below $0.50, down roughly 9% in seven days.
XRP launched the XRP Ledger Japan-Korea Fund. The payment remittance firm's 1 billion XRP promise to help developers integrate XRP Ledger includes the money.
Through this fund, Ripple will collaborate with Japanese and South Korean companies to advance Ledger ideas.
Wednesday's XRP range is below $0.50, a psychological milestone.
The payment company launched its XRP Ledger fund in Japan and South Korea.
Ripple is likely to fulfill its 1 billion XRP pledge to developers implementing XRP Ledger after the announcement.
XRP Ledger developers' official X account tweeted about the program's corporate cooperation, developer subsidies, startup funding, and community development.
Ripple is anticipated to fund local events, hackathons, and educational programs to promote XRP Ledger in the two nations.
XRP holders await the SEC's case against Ripple.
The payment remittance firm's May 29 letter supporting its demand to seal critical financial papers is the latest update.
Technical analysis: Ripple may lose $0.45.
The XRP/USDT 1-day chart shows Ripple falling since March 12. The cryptocurrency made lower highs and lows and is below $0.50 as of Wednesday. XRP has lost about 9% of its value in the previous week, and its 24-hour pricing is practically flat.
XRP price decrease is supported by momentum indicators MACD and RSI. MACD has red bars above the neutral line and RSI is 33.03, almost oversold at 30.
A daily candlestick over $0.50 might disprove the negative argument for Ripple. XRP may rebound to $0.5814, the 50% Fibonacci retracement of its slide from $0.7440 to $0.4188 since March 11.
