Speculation Moves The Price Of This Altcoin

  • Ripple The price of Ripple began to take off after CEO Brad Garlinghouse promised to hire 100 new employees.
  • It tries to print a ‘Morning Star candlestick pattern’ on XRP’s weekly price chart.
  • A break below the last week low of $0.28 is required to invalidate the bullish thesis.

Ripple managed to gather attention after the rumors of the re-emerging Central Bank Digital Currency (CBDC).

Ripple Price Moves

The price of Ripple’s token XRP has soared following the announcement that the company opened its official headquarters in Toronto with plans to hire 100 new employees. Theories that Ripple could become a crucial technology for Central Bank Digital Currencies (CBDC) have long been postulated in the crypto space. Ripple made a share that would imply the possibility a long time ago.

As of Saturday, June 25, Ripple price was trading at $0.36. Designed for use in digital remittances, the token has also started to show an increase in purchasing pressure on hourly timeframes. If the technical indicators can continue to hold their strength, the bulls will likely print a bullish ‘Morning Star pattern’ which will be a positive entry signal for long-term investors.

Ripple price A break above the $0.40 psychological barrier could trigger a buying raid that will help push the price higher to $0.51.

Ripple

of Ripple CBDC Talks about it becoming an integrative solution for the economy and the sudden demand for new employee recruitment began to be heavily speculated with the legendary rumor that Ripple has become the only world currency to replace the US dollar.

Of course, although such speculations do not always have a counterpart, it has often been seen in the history that even such rumors recorded a serious increase in price. While the CBDC speculation has no proof whatsoever yet, it could create a ‘fear of missing the train (or FOMO)’ for Ripple in the coming weeks. While a $0.51 target may be easier in the early stages, the $1.00 target won’t be surprising if the myth of the single world currency continues to be circulated on social media.

Anyone wishing to participate in bullish speculation should keep the previous week low as the invalidation point is at $0.28. If the bears can break through this barrier, a drop to $0.20 could occur, resulting in a 40% drop from the current Ripple price.

You can follow the current price action here.

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.


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