Ripple's major announcements at Swell push XRP back over $0.54


On Tuesday, XRP is trading at $0.5420.

At Miami's Swell 2024, Ripple unveiled its stablecoin project exchange partners.

As a cryptocurrency, XRP has the potential to rise 10% and reach $0.60, a psychologically significant price point.

As the payment remittance company Ripple announces exchange partners for its stablecoin RLUSD, which is nearing the end of its debut, the price of Ripple (XRP) remains stable above critical support around $0.54 on Tuesday.

Financial institutions and organizations such as Uphold, BitStamp, Bitso, Moonpay, Indereserve, CoinMENA, and Bullish will have access to Ripple's stablecoin project RLUSD if it receives regulatory permission, according to the company's announcement to users.
Our Ripple USD exchange partners were proudly announced today at #RippleSwell.

President Monica Long of Ripple Labs said that their stablecoin RLUSD is "operationally ready," meaning it is awaiting clearance from the NYDFS.

The company has not yet revealed when RLUSD will be available for purchase.

Sheila Bair, a former head of the Federal Deposit Insurance Corporation (FDIC), and David Puth, a former CEO of Centre, are among the new hires that Ripple alerted market players about.

The USD Coin (USDC) specifications are established by the Centre, a collaboration.

The decline in Ripple's value has persisted for more than a year. Potentially reaching the psychologically significant $0.60 threshold, the cryptocurrency may have a 10.26% rise. For XRP, this is a significant level of resistance. Just below the neutral threshold of 50, the Relative Strength Index (RSI) shows a reading of 46.

As the MACD line passes over the signal line, the momentum indicator known as Moving Average Convergence Divergence (MACD) displays green histogram bars above the neutral line. What this indicates is that the XRP price trend is fundamentally going in the right direction.

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