USA: Central bank triggers talk about XRP course jump-last week it was fabulous from $ 20
- The Fed’s interest in blockchain ensures rumors about XRP integration that could push the course with institutional support towards $ 20.
- XRP stays over the main support, but technical signals remind you for caution. A real event, such as an outbreak, would justify the latent optimism.
Based on speculation, XRP is back in the spotlight due to speculation that the US Federal Reserve could prepare to take the blockchain technology from Ripple into its payment infrastructure. A recently published document of the FED, in which the integration of the distributed LEDGER technology (DLT) is mentioned for interbanking transfers, has fueled the optimism of the investors.
Even if the authority has not confirmed a partnership with Ripple, the market participants observe the developments closely. Some analysts predict that such a step could push the XRP course towards $ 20. However, the current market conditions remain inconsistent, and the prospects depend heavily on regulatory decisions and technical dynamics.
The Federal Reserve recently presented plans for researching blockchain-based systems as part of an upgrade of its Fedwire Fund Service. The update planned for July 14 is intended to improve the efficiency of real -time processing. A document shared by analysts underlines the Fed’s interest in distributed Ledger networks to beat a bridge between traditional finance and decentralized systems.
Even if the Fed has not mentioned in its public explanations which networks it is, some market observers believe that Ripple is one of them. The legal clarification that Ripple achieved with the SEC after completing the legal dispute did this. Ripple cooperates with Swift, and the solution of other integration problems can be expected to have further institutionalization.
XRP course holds important support despite volatility
XRP has remained quite stable in the past week compared to the situation on the overall market. The token has risen from $ 2.01 to $ 2.23, with rapid upward movements, in order to then go down fluently again and to follow the upward trend again.
According to the current data on CoinmarketCAP, XRP was rated $ 2.07 at the time of reporting, which means a daily base decline. The overall market value is $ 121 billion, and XRP remains the fourth largest digital currency in the industry.
The average daily trade volume has dropped to $ 2.36 billion, which indicates that investors are of little importance. The total value of the financial value amounts to around 207 billion, while the current inventory of circulating tokens is 58.33 billion. However, there were intraday fluctuations, but XRP managed to stay over $ 2.04, which is a kind of short -term level of support.
Analysts debate over $ 20 price target
Dealers argue about whether the value of XRP will ever reach $ 20. In this case, the market capitalization would be more than $ 1.1 trillion at a token price of $ 20, since the circulating range is over 58 billion tokens. Some think this is realistic, while others believe that it could happen if large US companies take over the ripple system.
As for the cryptocurrencies, Davinci was one of the first to believe in XRP. He expected that XRP would be noted at around $ 24 at the end of the year because the governments would start.
Technical structure warns for caution
The daily chart shows that the price of XRP acts over the 200-dayema, the value of which is still high. However, there are signs of a weakness of the buyers to get very involved. On the other hand, the relative strength index (RSI) has dropped from a higher point after a short phase of the increase in the bull strength.
The price has formed a downward trend, but the outbreak of the bulls via the 50-dayemaa at $ 2.21 could turn the structure upwards. This level matches the lower limit of a descending channel, and a bar closure above this level can lead to purchases. So it is still an insecure pattern of the technical and macroeconomic environment, in which the dealers are still waiting for signs of a specific direction.
A change in ownership would most likely lead to an assessment of the long -term prospects of XRP on the market. This is due to a balanced activity on the side of the bulls and bears in terms of prices. In order for a program to reach the 20 US dollar brand, institutions, political measures and fundamental data are required, but not speculation that contains technical aspects.
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