XRP Price: Analysts Expect Bullish Move Ahead

XRP Price: Analysts Expect Bullish Move Ahead

  • The nation’s digital coins would be a viable alternative to CBDC.
  • The XRP price might skyrocket in 2022.

The crypto street has been relatively dull for the month. Meanwhile, the crypto sector expects December to be a good month for digital assets. Traders and hodlers are now looking at XRP. Ripple collaborates with the Republic of Palau to develop the nation’s first digital currency. Also, Ripple’s CEO expects a settlement to the current legal dispute by next year. Meanwhile, industry leaders have been analyzing XRP price charts.

Ripple has announced the partnership with the Republic of Palau for Ledger-based digital money on the XRP ledger. The cooperation will work on cross-border payment mechanisms, a Palau-backed digital currency, and the world’s first government-backed national stable coin in early 2022.

The nation’s digital coins would be a viable alternative to CBDC. XRPL is carbon neutral, making it a good option for the environment. Also, Stable coins are a viable alternative to other digital currencies. Meanwhile, Ripple’s CEO said in an interview that he hopes to resolve his legal dispute with the SEC by next year. He is also bullish about the industry’s future. In contrast, the sector benefits from continuous worldwide inflation.

Analyst Views on XRP Price

At press time, the currency was trading at $1.04, up 0%. The market cap is at $48,647,079,280. 24 hour trading volume is $3,252,825,117. The XRP price has risen from $1.03 to $1.07.

XRP/USDT: Source: TradingView

The big pump following breaching the trend line at $1.2 is projected, sending the price to $1.96 and nearly 240 percent from the local support at $0.87. Daily support zones at $0.95, $0.80, and $0.60 might trigger a bullish phase, the proponent claims. However, if local support is lost, the price may plummet. Another expert believes a breakthrough from the trend line might be a buy zone.

With a conclusion to the legal struggle between Ripple and the US SEC, the XRP price might skyrocket in 2022. Meanwhile, Ripple is spreading globally, and the corporation sees potential in the Middle East. Hopefully, the alt season starts well for XRP. According to CoinMarketCap, the XRP price today is $1.03 USD with a 24-hour trading volume of $2,975,989,677 USD. XRP is down 0.97% in the last 24 hours.

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