Expert Predicts Ripple to Launch Liquidity Pool for XRP on an AMM
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Anders, a crypto researcher, recently shared his predictions that Ripple is on the verge of introducing a liquidity pool for XRP on an Automated Market Maker (AMM), using its own USD stablecoin, rUSD, to strengthen liquidity for both rUSD and XRP. This move, he suggests, aligns perfectly with the integration of the Decentralized Exchange (DEX) with On-Demand Liquidity (ODL).
Prediction: I see Ripple starting up a liquidity pool on the AMM.
rUSD – XRP
Since they will issue their own USD stablecoin they could easily provide liquidity for both sides: rUSD as well as XRP… making it highly liquid. Fits well now that the DEX is integrated with ODL.…
— Anders (@X__Anderson) April 4, 2024
With Uphold facilitating ODL services in the US and whispers of a stablecoin bill gaining traction in the country, the timing couldn’t be more impeccable. He added that:-
“But even if Ripple wouldn’t contribute I would assume it to become the most liquid pool of all, just by people knowing about it and thus contributing.”
The crypto community was all ears when Ripple announced its jump into the stablecoin space. This announcement sent XRP trading volumes soaring by over 30%, as per TradingView data. Amidst the excitement around giants like Bitcoin and Ethereum, stablecoins hold their ground with their less volatile nature.
Ripple’s announcement quite literally reversed XRP’s downtrend, injecting a much-needed optimism into its market sentiment. Despite the token being down by over 7% on monthly charts, Ripple’s move could be the catalyst XRP needs to break through critical resistance levels and climb back to the $0.60 mark and beyond.
Technically, XRP appears to be on the brink of a massive breakthrough. Market analysts are eyeing the $0.62 threshold, a key level that could trigger an upward momentum for the asset. Beyond this, targets are set at $0.65 and $0.69, banking on a bullish trajectory for XRP.
Currently hovering around $0.58, XRP has seen a 3.6% uptick in the last 24 hours as of the time of writing. This is the highest increase the token has seen in two weeks. As Ripple continues on its plans, the potential integration of a liquidity pool for XRP on an AMM could very well be the linchpin that solidifies its position in the upcoming bull run.
Filed under: Bitcoin - @ April 5, 2024 12:11 pm