Palau trials stablecoin built on XRP Ledger; XRP adoption increasing.

Palau trials stablecoin built on XRP Ledger; XRP adoption increasing.

The Rise and Predictions of XRP in the Blockchain Industry

Source: TradingView

The XRP price has seen a 2% rise in the past 24 hours, reaching $0.716275, following the Federal Reserve’s decision to raise its base rate by 0.25%. This unexpected increase has defied the usual negative effect rate hikes have on financial markets. It appears that investors perceive this hike as one of the final ones in the current economic cycle. Consequently, this sentiment has contributed to the buoyancy of the cryptocurrency market as a whole.

Despite a 12% decrease over the last seven days, XRP has experienced a significant increase of 50% over the past 30 days and a whopping 110% since the beginning of the year. Ripple’s favorable ruling in its case with the Securities and Exchange Commission (SEC) has propelled XRP’s success. Furthermore, Ripple’s recent announcement of partnering with the Pacific Island of Palau for a stablecoin trial has the potential to drive even higher adoption of XRP in the coming months.

XRP Price Prediction as Pacific Island of Palau Begins to Trial Stablecoin Built on XRP Ledger – Adoption on the Rise?

Source: TradingView

After a recent market dive, XRP seems to have initiated its expected rebound. The altcoin’s relative strength index (RSI) has risen from below 30 on Monday and Tuesday to 50 today, indicating a surge in buying momentum that could propel it higher in the days to come. Additionally, XRP’s 30-day moving average has halted its previous decline and shows the potential to rise again, especially since its current price has risen above the short-term average.

It is worth noting that XRP has not fallen back below its current VoAGI-term support level, suggesting that its recent correction might have concluded, positioning it for further growth. This belief is further strengthened by Ripple’s recent partnership with the Republic of Palau, in which the latter will trial a Central Bank Digital Currency (CBDC) on the XRPLedger. While Palau may not be a major economy, its adoption of RippleNet signifies a significant win for Ripple. This development implies that more central banks and institutions may start utilizing Ripple’s network, ultimately driving up the price of XRP.

In the short term, XRP is expected to rise back up to $0.80 in the next few weeks, with the potential to hit $0.90 or even $1 by the end of the year.

Diversification With High-Potential Presale Tokens

Undoubtedly, XRP possesses strong fundamentals in the cryptocurrency market. However, significant gains may take several months or longer to materialize. Traders seeking above-average profits in the short term may find it beneficial to explore newer altcoins and presale tokens. These tokens often experience surges in value when they list on trading platforms.

Currently, one of the hottest presale coins is Wall Street Memes (WSM), an ERC-20 token that has already raised over $18.1 million in just a month. The success of Wall Street Memes can be attributed to its association with the meme stocks movement, which led to rallies in AMC and GameStop in 2021.

WSM has cultivated a robust online community, evident by its Twitter profile boasting over 256,000 followers. The strength of this community is crucial for the forthcoming listing on exchanges as meme tokens thrive or decline based on the size and engagement of their communities.

To further incentivize community involvement, 30% of WSM’s total maximum supply has been allocated for community rewards, with 50% reserved for the presale. These measures ensure active participation from the community, and interested investors can join the WSM presale by visiting the official Wall Street Memes website.

Currently priced at $0.0325, with an expected increase to $0.0337 by the end of the sale, WSM may experience a significant surge upon listing on exchanges.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

In summary, the XRP price has shown resilience amidst the Federal Reserve’s recent rate hike, with significant gains expected in the coming months due to Ripple’s successful ruling with the SEC and the partnership with Palau. In addition, traders looking for short-term profits may consider diversifying their investments with high-potential presale tokens like Wall Street Memes. However, it’s important to remember that investing in cryptocurrencies carries inherent risks and it is essential to make informed decisions based on thorough research and analysis.