• XRP has been stable due to the impending summary judgment of the XRP lawsuit.
• Ripple is increasing its developments and has recently released 1 billion XRP tokens in several transactions.
• The XRP token is now preparing for an upswing, but it has faced rejection at $0.385 near the crossover of EMA lines on the daily price chart.
XRP Price Overview
The native token of Ripple, XRP, has remained stable over the past few weeks due to the upcoming summary judgment in the XRP lawsuit. The outcome of this judgement could have a significant impact on its price, potentially sparking a surge or dumping it. Meanwhile, Ripple is continuing to make progress with various developments, having recently released 1 billion XRP tokens valued at around $378 million. This means that approximately 51% of its total supply is now in circulation and has created fresh excitement among investors and the crypto community ahead of the final judgement.
Ripple’s Bold Move To Develop CBDC
In addition to releasing new tokens, Ripple is also taking a bold move by partnering with 20+ banks to develop a central bank digital currency (CBDC). While major countries such as China are focusing on creating their own CBDC through public sector initiatives, smaller nations are turning to companies like Ripple who can create tailor-made solutions that meet their specific requirements. By introducing real-use cases for blockchain technology and adding value to its native token, Ripple is working towards making XRP a dominant asset in the cryptocurrency market.
XRP Preparing For An Upswing
XRP has proven its resilience by bouncing back from previous lows despite uncertain market conditions and gaining attention from whale investors who have noticed an increase in accumulation over recent days. However, after approaching $0.385 near the crossover of EMA lines on the daily price chart, it seems that XRP is now preparing for another heavy pump after facing rejection from this level again.
Positive Outlook From Bull Investors
Despite some minor setbacks along the way, many bull investors remain positive about what’s ahead for XRP’s price trend as Ripple maintains confidence in their current legal situation and continues developing new projects and partnerships with other banks worldwide.
It will be interesting to see how things unfold when it comes time for summary judgement regarding Ripple’s legal battle with US SEC as this could have a huge impact on XRPs price direction moving forward either spiking or dumping drastically depending on what transpires between both parties involved in this case