XRP at $0.56 as Ripple, Hedera, and Aptos Labs announce MiCA Crypto Alliance
On Monday, DLT Science Foundation founders Ripple, Hedera, and Aptos Labs made a major announcement.
The three businesses formed the MiCA Crypto Alliance to improve EU crypto asset regulatory compliance.
XRP is about $0.5600 Monday.
Ripple (XRP) and other crypto alliance founders made a major statement. Ripple, Hedera, and Aptos Labs collaborated with the DLT Science Foundation.
On Monday, XRP recovered and remained over $0.5600.
Ripple, Aptos Labs, and Hedera collaborated for the DLT Science Foundation. The non-profit DLT Science Foundation (DSF) encourages businesses to use blockchain technology.
The foundation collaborates with business, academics, and developers to establish an open environment.
DSF launched the MiCA Crypto Alliance to improve industry collaboration and navigate EU regulations.
The partnership promotes collaboration between enterprises navigating EU blockchain innovation legislation.
MiCA requires Crypto-Asset Service Providers (CASPs) to report their climate effect and other facts in white papers and online descriptions.
Technical analysis: XRP targets double-digit gains
XRP has fallen for months from its July 2024 peak of $0.9380. The native token of the XRP Ledger recovered from losses to $0.5731, above support around $0.5600.
XRP price momentum is good when the Moving Average Convergence Divergence (MACD) indicator displays green histogram bars above the neutral line.
XRP may rise 15% to $0.6602, the 50% Fibonacci retracement of the slide from $0.9380 to $0.3823 in July 2024.
The Fair Value Gap (FVG) between $0.5413 and $0.5556 may boost XRP.
