XRP price prediction: at risk of a crash despite bullish Ripple news

The XRP price remained in a deep bear market after falling sharply from the year-to-date high of $3">Copy link

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Meanwhile, more data shows that demand for XRP ETFs remains at an elevated level, with data showing that inflows jumped to nearly $1 billion a few weeks after their launch. XRP ETFs have become some of the fastest-growing funds in the crypto industry.

XRP has had some other positive news in the past few weeks, including the recent investment by Citadel and Fortress. It also completed the acquisitions of four companies, GTreasury, Palisade, Rail, and Hidden Road.

These acquisitions are meant to provide infrastructure in the financial services industry, including creating utility for the Ripple USD (RLUSD) stablecoin.

Meanwhile, Ripple partnered with AMINA Bank, a move that will see it using its technology for real-time cross-border solutions. In a statement, the Chief Product Officer at the bank said:

“Our clients need payment infrastructure that can handle both fiat and stablecoin rails simultaneously, but traditional correspondent banking networks weren’t designed to support this.”

The XRP price has also stagnated despite the ending of the Securities and Exchange Commission (SEC) vs Ripple case, and the recent statement by Hex Trust that will see it expanding it to Solana and Ethereum.

It is common for a cryptocurrency with solid fundamentals to underperform the market when there is a bear market. For example, Polygon price has slumped to a record low despite its number of transactions and active addresses soaring to a record high.

Similarly, Avalanche (AVAX) price has dived despite its rapid network growth and partnerships with key companies like Toyota and Skybridge Capital.

The post XRP price prediction: at risk of a crash despite bullish Ripple news appeared first on Invezz

XRP price prediction: at risk of a crash despite bullish Ripple news

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