Announced yesterday by Ripple, the news “Commit $1 Billion XRP to Develop (XRPL) projects and Create New Use Cases in the XRP Ledger” came to the fore.
Ripple announced that it has committed 1 billion XRP worth approximately $800 million to “accelerate development and new use cases on the XRP Ledger.”
In these developments, XRP will provide financial, technical and commercial support to introduce several new developer programs as part of the fund. The funds will support projects involving financial education and mentoring on XRPL and will be used to build a decentralized finance (DeFi) program to launch DeFi protocols on XRP Ledger.
On the other hand, in the SEC’s Ripple case, which lasted more than a year, the latest development was the rejection of individual defendants’ claims. Against all these negatives experienced by XRP, XRP rose after the SEC’s request to remove the company’s fair notification defense was rejected.
XRP price, on the other hand, has risen to the levels of 0.80 when we look at the last 3-day chart. If we evaluate the overall table; It cannot break the falling trend structure that it has created with the falling tops since April 13.
On the other hand, if it is rejected from the resistance area and cannot hold, the price movement in the triangle can continue and retracements to the lower band can be observed.
As of the current outlook, there is limited movement in price in the short term.