payment giant Ripple (XRP)announced a grant of 1 billion XRP for developers developing applications on the distributed ledger, and soon after, an uptrend in price was seen and the community could try raising the price of XRP to $1. The grant will continue to be distributed to developers for the next 20 years.
Ripple price started a rally, gaining 7% last week. International payments giant Ripple has shared its plans to power the development of open source projects on the XRP ledger.
Ripple provides 1 billion for developers developing applications on the distributed ledger. XRP grant announced. Ripple believes this grant will encourage creators and developers to create projects following Ripple’s payment orientation.
One billion XRP tokens are worth $791 million at the current price. The announcement triggered a bullish scenario for the altcoin among investors as it could attract investors to XRP.
An existing grant scheme for project developers on the distributed ledger actually existed under the name “XRPL Grants”, the initiative was launched in June 2021.
Grants for developers have increased the pace of development, attracted more users and increased adoption of the altcoin. Analysts evaluated the Ripple price trend and predicted that the altcoin’s price rally will continue.
Analysts also think that investors can take their profits at $ 0.77 as the price of Ripple continues on its way to reach the price target of $ 1.
The analyst, known by the pseudonym Rekt Capital, is trying to reclaim support for July 2021. Ripple priceHe thinks the price is moving towards the $1 level. If it retraces this support ($0.94), the price could easily rise to $1.
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