Independent Reserve, Singapore’s first licensed cryptocurrency exchange, has announced the listing of Ripple USD (RLUSD) stablecoin, becoming the first to offer the coin in the market. Trading on RLUSD will commence on December 22, 2024, and is a 1:1 pegged stablecoin built on the#XRPLedger and Ethereum networks, with the goal of facilitating cross-border liquidity and reducing transaction costs.
Source: Independent Reserve.
Analysis compares the current price action of XRP to previous patterns seen in Bitcoin (BTC) and Ethereum (ETH). In the first chart, Bitcoin has shown a significant increase after settling at $2, indicating a strong bullish phase ahead. Similarly, an analysis of XRP at $2 suggests that the coin may be in a similar position to Bitcoin’s early days.
In the second chart, XRP’s movement is compared to Ethereum’s performance in 2016, when Ethereum broke the $3 barrier before its big breakout. The analysis suggests that XRP could be about to enter a similar bullish phase, especially given the similar price patterns and market conditions. This prediction is based on historical market performance, which reinforces the possibility of XRP making significant gains in the future if positive conditions persist.
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