Ripple (XRP) is a leading cryptocurrency, a financial dynamite that holds a wide range of opportunities within its ecosystem. Despite its legal battle with the US SEC, Ripple continues to carve its own price path by partnering with global institutions to find new use cases for XRP.
New Developments of Ripple
XRP is currently one of the most popular cryptocurrencies in the space. Ripple is taking the financial industry by storm by launching XRPL as an alternative to cross-border payment mechanisms.
The organization has also launched its own stablecoin, RLUSD, which is making great strides in the current financial regime. In a new Ripple blog post, RLUSD is defined as a stablecoin backed by a segregated reserve of cash and cash equivalents.
“Ripple USD is purpose-built for settlement purposes, designed to maintain the constant value of one US dollar. It is fully backed by a segregated reserve of cash and cash equivalents and is redeemable 1:1 for US dollars. RLUSD is issued on the XRP Ledger and the Ethereum blockchain, enabling instant settlement and easy fiat-stablecoin conversion.”
At the same time, the launch of the Grayscale XRP fund has created enough momentum for XRP to rise above its predetermined price, which is a big step considering how the token has struggled to gain its rightful place in the space.
The fund will give investors access to XRP, an achievement that could help the token reach new highs.
Finder, a group of financial experts, has made their long-term predictions for XRP. According to the analysts, XRP is on track to trade at $0.66 by the end of 2024. By 2025, the token could skyrocket to reach the coveted price of $1.
AI predicts token price on September 25, 2024
According to technical platforms like CoinCodex, the XRP price could spike to $0.69, a 22% increase.
By mid-October, the token price could spike to a trading level of $0.70, after which it could comfortably explore new price levels.
“Ripple’s price is predicted to increase by 19.95% and reach $0.705697 by October 17, 2024. According to our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 33 (fear). Ripple has recorded 16/30 (53%) green days with a price movement of 4.36% over the past 30 days. Based on Ripple’s forecast, now is a good time to buy XRP.”
