FOMO

David

Coin

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 The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/ripple-xrp-price-will-xrp-price-hit-1-by-july-end/">Ripple (XRP) Price : Will XRP Price Hit $1 By July End ?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
 On Friday, XRP surged ahead of Binance Coin (BNB) to reclaim its position as the fourth-largest digital asset, boasting a market cap of $41.2 billion. The recent judgment ruling prompted US-based centralized exchanges to relist XRP, driving up demand significantly. 
 As a result, XRP’s daily trading volume skyrocketed by over 1716 percent to $14 billion, while open interest increased by 94 percent to $1.05 billion in the past 24 hours. However, increased volatility in the XRP market led to losses of over $64 million. 
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 From a technical standpoint, XRP’s price action suggests a bullish outlook, with indicators pointing towards an imminent rally beyond $1 in the coming days. FOMO traders eagerly longing for XRP further strengthen the bullish sentiment. 
 Despite the positive momentum, XRP faces a formidable resistance level from a macro-symmetrical triangle. Overcoming this obstacle is crucial for sustaining the bullish trend. 
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 In terms of fundamentals, the recent ruling significantly boosted XRP’s social dominance, evidenced by a surge in whale transactions and a related short squeeze, according to market intelligence platform Santiment. 
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 We're still figuring this out. We don't currently have ODL-related sales with a US nexus and not being able to do so is not really a huge deal. We can still do ODL in the US so long as XRP is never sourced from Ripple.— David "JoelKatz" Schwartz (@JoelKatz) <a href="https://twitter.com/JoelKatz/status/1679746438757228551?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 14, 2023</a> 
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 It’s important to note that institutional sales of XRP, previously classified as securities, now prevent US-based ODL users from acquiring assets directly from Ripple. Consequently, these users must turn to the secondary market for XRP transactions. 
 Overall, the XRP market has experienced a resurgence, reclaiming its position as the fourth-largest digital asset. Increased demand, a favorable ruling, and positive market sentiment contribute to a bullish outlook for XRP in the near term. However, challenges remain in breaking through the resistance level.
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Ripple (XRP) Price : Will XRP Price Hit $1 By July End ?

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