Ripple‘s CTO, architect and co-creator of the Ripple ledger David Schwartzspoke about the firm’s growing interest in NFTs in a recent interview. Founder of Ripple-backed XRPL Labs Wietse Wind, in February this year XRPL on XRP Ledger, which does not require code modification for [XRPL] He announced that a proposal was made to implement support for NFTs.
Wietse Wind highlighted a unique feature of NFTs in that they are indivisible and used to create verifiable digital ownership and scarcity. According to Wind, XRP Ledger token It already supports exporting, so it’s now actionable to other XPRL accounts.
Another event for XRP is the one that took place on September 29-30, when Ripple launched a $250 million fund on the XRP Ledger to support creators and monetize accessible and innovative NFT experiences. Apex XRPL Developer Summit had happened.
XRP Price Forecast: XRP/BTC Weekly Chart
After the normal bullish divergence on December 28, 2020, XRP experienced a surge in demand and immediately created a “bear trap candlestick pattern” to experience a 410% price increase against BTC on March 8, 2021.
A hidden bullish divergence support on October 18, 2021 enhanced XRP/BTC’s bullish outlook. A weekly close above the August 9 resistance could lead to an increase in XRP demands.
XRP Price Forecast: XRP/USDT Weekly Chart
XRP/USDT continues to maintain its uptrend on the weekly timeframe, with the most recent bullish setup being the “bear trap candle pattern” on September 20, 2021.
A RSI above 25 indicates an increase in buying pressure for XRP versus USDT.
XRP Price Forecast: XRP/USDT Daily Chart
The daily chart above reveals that the opposite bearish and bullish divergence between November 6 and November 10 occurred at the support ($1.1) and resistance ($1.355) levels.
A second bullish divergence setup continues to signal newer support on November 12, 2021, a factor that makes it harder for the bears to lower the XRP price. If XRP price closes below the $1.1 support, we can expect to see an oversold level below 25th as the next price base.
For now, if the RSI goes into the oversold area, it would be reasonable to consider long-hold orders and averaging the dollar cost into an uptrend.
XRP Price Forecast: XRP/USDT 4-Hour Chart
On closer inspection of the intraday 4HR chart, XRP/USDT support appears to be fixed at 12:00 on October 30, 12:00 on November 06 and 20:00 on November 10.
The second bullish divergence support ($1.1615) set the XRP/USDT crypto pair for a price increase on Nov.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.