TL;DR
- Ripple’s XRP has recently garnered significant adoption across multiple crypto exchanges, boosting its accessibility and trading options ahead of a major legal battle with the SEC.
- The asset price has increased by 5% on the day, and experts predict a significant increase in the near future, citing technical analysis and market conditions.
Who adopted XRP?
Ripple's XRP has recently been adopted by many cryptocurrency exchanges.The turmoil began earlier in the week, when the US-based Atlantis exchange It was opened Trading services using assets.
A few days later, XRP received support from one of the industry veterans, BitMEX.the latter revealed It says users can deposit, convert, and trade cryptocurrencies on BitMEX Spot, and describes the XRP Ledger as a “faster, more energy-efficient alternative to the Bitcoin blockchain.”
Bitrue has also joined the club, introducing eight new XRP-based spot trading pairs. Some of them include XRP/SHIB, XRP/PEPE, and XRP/BONK.
The latest wave of support from exchanges comes about a month ahead of a major court case between Ripple and the U.S. Securities and Exchange Commission (SEC).
This major support from industry leaders came last summer, shortly after the company won its first partial court victory against regulators. Back then, there were Coinbase, Kraken, Crypto.com, Bitstamp, and more. relisted XRP on the platform.
Are price hikes imminent?
XRP was one of the best-performing cryptocurrencies in the top 10 list today (March 22), with its price increasing by 5% and reaching $0.64 (according to data from CoinGecko). One of the reasons behind its resurgence could be the goodwill from the aforementioned exchanges, which improves the legitimacy, liquidity, and accessibility of assets, leading to more It may have attracted investors.
Some analysts are optimistic that XRP is poised for a significant rally next month. X User Dark Defender set The target price is $1 as the previously drawn resistance zone has been reached.
EGRAG CRYPTO weighed in as well, stating that the Fibonacci 0.5 level has “supported us so far” and asserting that the bulls appear ready to make a big move. The analyst concluded that these conditions could cause the price to rise by around $1.40 next month.
To discover seven key signs that suggest XRP's price could be headed for an explosive rally throughout 2024, be sure to watch our exclusive video below.
