RLUSD Could Trigger $400 Billion Market Cap For Ripple, But How High Can IntelMarkets Go?
The post RLUSD Could Trigger $400 Billion Market Cap For Ripple, But How High Can IntelMarkets Go? appeared on BitcoinEthereumNews.com.
The past two months have been full of positive XRP news. Ripple is becoming the poster child for the surging crypto market. The latest XRP News is the New York Department of Financial Services (NYDFS) approval for the RLUSD stablecoin. While the launch date for RLUSD is not specified, and its direct impact on the Ripple blockchain will be minimal, if any, the markets have celebrated this win for the troubled altcoin. This highlights the fact that the markets will eventually reward all high-utility altcoins. This is also why the IntelMarket INTL is steadily gaining traction as one of the promising new ICOs with tremendous growth potential. It combines AI technology with trading efficiencies to create an innovative and beneficial offering. RLUSD Approval Pushes Ripple Into Consolidation Ripple (XRP) has made huge strides after years of grappling with regulators and is finally emerging victorious with the approval of its stablecoin, RLUSD, by the NYDFS. Once this launches, Ripple (XRP) will become a key player in institutional payments and the tokenization of real-world assets. Source: CoinMarketCap After the initial surge after the XRP news broke, the coin consolidated slightly as the price dropped about 3% in the daily charts. The market volume dropped by 28% to settle at $9.18 billion, while the market cap also dropped by 3% to $132.93. Right now, Ripple is trading at $2.31 with a lower resistance of $2.3, which has been holding firm so far. Technical indicators also indicate an upcoming surge post-consolidation. The Exponential Moving Average for the daily charts was at sell, while the monthly charts gave a buy signal. The relative strength index was neutral for both periods. This combination is usually indicative of an upcoming break once the consolidation ends. Those looking to buy low crypto options while waiting for more positive…
Filed under: News - @ December 16, 2024 8:23 pm