Two weeks ago, Ripple Labs’ partial victory in the SEC lawsuit propelled XRP to a massive surge in value, totaling 70% in daily gains. Despite the financial regulator’s intentions to appeal the court ruling, the coin’s outlook has significantly improved.
This victory had a positive spillover effect on the entire crypto market, with the likes of Solana, Cardano, and Polygon rising around 10%.
Notably, SOL, ADA, and MATIC were also labeled as securities by the SEC.
Alongside the legal success, several other favorable developments are contributing to the rising value of XRP.
Ripple Partners with Catalyze Research in South Korea
Ripple is partnering with Catalyze Research in South Korea, a move intended to boost awareness and adoption of the XRP Ledger. They plan to develop an educational program for developers, host workshops, meetups, and hackathons to encourage decentralized application integration on XRPL.
— CryptoGeek (@CryptoGeekNews) July 28, 2023
South Korea’s dynamic market and thriving developer community make it an ideal target for growth.
Despite Ripple’s denial, South Korea’s consistently elevated XRP trading volumes indicate a strong interest in cryptocurrency.
This strategic partnership and the country’s engagement with XRP contribute to its increasing prominence and higher trading volumes in the region.
SBI VC Trade Strengthens Partnership with Ripple
SBI VC Trade reaffirms its commitment to Ripple’s vision, intensifying collaboration for seamless cross-border remittance solutions using XRP.
@sbivc_official 1 of Japans largest financial services company will be using On Demand Liquidity (ODL) which leverages XRP to move value instantly at a fraction of a penny! $XRP & $XRPL will be used by ALL the Govs & Banks in the world! 💎 KNOW WHAT YOU HOLD!! $XRP #GameChanger pic.twitter.com/Qw0Knz8KoR
— MrRager (@David_Mento) July 28, 2023
With a special focus on the dynamic Asian market, they aim to revolutionize international money transfers, solidifying XRP’s position as a leading bridge currency.
XRP Price Analysis
The four-hour chart of XRP/USD reveals a finished descending triangle, with its declining boundary acting as a key resistance hindering price surges.
The resistance level is reinforced by the 50-day EMA coinciding with the trendline.
A firm closing above both the trendline and 50-day EMA could significantly brighten the market scenario, possibly paving the way for additional profits.
If the trendline remains strong and obstructs upward movement, XRP/USD might see a drop, with the first support level at $0.66975.
The technical indicators, such as MACD histograms and RSI, are currently in a state of uncertainty, suggesting no definitive market direction. Traders interested in a long position should wait for a clear break above the trendline, indicating a potential uptrend, while a drop below $0.66975 could present a shorting opportunity.
However, it’s advisable for traders to await confirmed price movements before making any decisions.
Other cryptocurrencies have more promising prospects than XRP, with DLANCE standing first.
Promising Alternative to XRP
DLANCE is the ticker for the DeeLance ecosystem, an innovative crypto and NFT-based freelancing platform. It aims to transform the freelance recruitment system using blockchain transparency and security.
Exciting news DeeLancers! 👨💻
We just reached over 40k followers on Twitter! 🎊🚀
Thank you for your support and engagement, Let’s keep the momentum going.
— DeeLance (@deelance_com) July 12, 2023
🔥⚡️ The momentum is electrifying, with over $1.67M raised!
Invest in 1 $DLANCE at $0.048 and be on a journey that merges technology, opportunity, and growth.
— DeeLance (@deelance_com) July 28, 2023
The presale has raised $1.685M out of the total $1.8M allocated for the current stage.
Currently, one DLANCE token is available for $0.048 USDT.
This price will increase to $0.057 after the presale ends. DeeLance’s $100K token giveaway competition further encourages participation.
DeeLance’s mission is to revolutionize freelancing and recruiting with blockchain.
The future of remote gig-working holds undeniable growth potential. It is an attractive prospect for investors seeking a secure freelancing ecosystem.
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