Will the Price of XRP Increase as ripple Gets Support from These Crypto Exchanges?
TL;DR
- Ripple‘s XRP has seen significant adoption from multiple cryptocurrency exchanges recently, increasing its accessibility and trading options ahead of a major regulatory hearing with the SEC.
- The asset’s price saw a 5% increase on the day; experts predict a significant increase in the near future, citing technical analysis and market conditions
Ripple’s XRP has recently begun to be adopted by numerous cryptocurrency exchanges. The craze started at the beginning of the week at the US-based Atlantis Exchange. opened asset trading services.
A few days later, XRP received support from BitMEX, one of the industry veterans. Latter clarified Describing the XRP Ledger as a “faster, more energy-efficient alternative to the Bitcoin blockchain,” users can deposit, convert and trade the cryptocurrency on BitMEX Spot.
bitrue also joined the club and introduced eight new XRP base spot trading pairs. Some of them are XRP/SHIB, XRP/pepe and XRP/bonk.
The latest wave of support from exchanges comes about a month before the massive lawsuit between Ripple and the US Securities and Exchange Commission (SEC).
Such massive support from industry leaders occurred last summer, shortly after the company won its first partial court victory against the regulator. At the time, Coinbase, Kraken, Crypto.com, bitstamp and many more relisted On XRP platforms.
Is There a Price Increase on the Horizon?
XRP is among the best-performing cryptocurrencies in the top 10 list today (March 22), with its price increasing by 5% to $0.64 (according to CoinGecko data). One of the reasons behind its resurgence may be the positive response of these exchanges, which will attract more investors by increasing the legitimacy, liquidity and accessibility of the asset.
Many analysts are optimistic that XRP is poised for a significant upward move next month. X user Dark Defender to arrange A price target of $1 due to the previously shown resistance zones being reached.
EGRAG CRYPTO also joined in, noting that the Fibonacci 0.5 level has “kept us afloat so far” and claiming that the bulls appear poised to make a significant move. The analyst concluded that these conditions could trigger a price increase of around $1.40 next month.
For those eager to discover seven key signs that the XRP price may be on the verge of explosive growth throughout 2024, feel free to check out our exclusive video below:
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