XRP has been very stable, as it has stood strong above the major support level of $3 in spite of the difficulties facing the broader market. The cryptocurrency market is in the midst of a minor blowout, with the skepticism about the US inflation rates and rate increase decision of the Federal Reserve, which lies ahead as the main reasons.
Source: CoinMarketCap
XRP remains in an excellent technical spot despite the market-based worry. The cryptocurrency displays a key price trend in accordance with crypto analyst Ali Martinez. Martinez has identified one of the main buy signs in a recent chart, indicating that XRP’s price is likely to rise soon. This prediction follows a small decline in the coin’s price, which seems to be approaching its end.
Also Read: XRP Price Prediction 2025-2031: Will XRP Reach $5?
Martinez employs the TD Sequential indicator, which indicates a bullish flag, meaning that the price cut of token may potentially have reached its limit in the near future.
Source: X
This technical indicator is accompanied by the assumption that the price value of the coin could rise over the existing resistance. The analyst suggests that the price of XRP is expected to increase above $3.60 in the near future.
The future performance of the token greatly relies on its capacity to close above the $3.00 level. If the coin manages to hold this level, it may reevaluate the resistance at $3.13, which could potentially lead to another resistance at $3.20. However, if the price falls below $2.91, it could drop to the support level of $2.69 and potentially decrease further.
Source: TradingView
The $25 million donation made by Ripple in the form of RLUSD, the US dollar-based stablecoin created by the company, is supposed to be used in enhancing the economic fortunes of small businesses and veterans.
It would disburse the funds to the Accion Opportunity Fund, and Hire Heroes USA is an organization that aims to offer economic opportunities to underserved populations. This was decided on September 15, thus bringing a new philanthropic aspect to the ongoing growth narrative at Ripple.
Ripple’s token ability to hold its price in a volatile market is a clear strength. Ripple’s responsibility for supporting the community and fostering strategic collaborations significantly contributes to the project’s value and is managed with a long-term perspective. Despite the bearish market indicators, the token is arguably going to overcome the resistance and could actually break into new highs in the near future.
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