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Information about XRP (XRP)
Ripple (XRP) is a cryptocurrency created in 2012 by Ryan Fugger, Jed McCaleb, and Chris Larson. The Ripple project was developed to enable users to use financial institutions, banks, PayPal, and other services at meager costs and lightning-fast processing speed.
Ripple is a distributed peer-to-peer payment system that is open source. Ripple, like Bitcoin, uses blockchain technology to provide secure payment solutions that assist in the settlement of financial transactions between banks at meager costs.
Furthermore, the benefit of Ripple is that transactions are quick and do not require time to authenticate. Simultaneously, the Ripple platform enables users to trade everything from currency to gold to cryptocurrencies.
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XRP, Solana, and Dogecoin all saw price drops exceeding 4% ahead of the Fed’s policy announcement, impacting market reactions as they look for signs of potential rate cuts.
The Federal Reserve is expected to maintain its current interest rate, but investors are closely monitoring Jerome Powell’s comments for signs of future economic direction and rate adjustments.
A recent report shows that 83% of institutional investors intend to raise their cryptocurrency allocations in 2025, reflecting increasing bullish sentiment towards digital assets.
Around 75% of surveyed institutions currently hold cryptocurrencies beyond Bitcoin and Ether, with XRP and Solana emerging as the most favored altcoins in their portfolios.
The report predicts that institutional use of DeFi platforms will grow from 24% to nearly 75% within the next two years, showcasing a robust movement towards decentralized finance.
Recently, XRP whales sold 220 million XRP for approximately 500 million USD, raising concerns about the altcoin’s ability to recover in the short term. Major holders are exhibiting bearish sentiment, affecting overall market confidence regarding XRP’s price stability.
XRP is currently testing important support at 2.14 USD. A failure to hold this level may indicate further declines. However, if XRP manages to reclaim 2.33 USD as a support level, it could shift the trend positively and aim for a target of 2.60 USD.
XRP’s impressive 370% rise since the U.S. Presidential Elections now raises concerns of a downward trend. The long-term holder NUPL metric indicates market enthusiasm, suggesting this might be an opportune moment for profit-taking.
Despite XRP’s gains, on-chain signals reflect a bearish outlook following its decline below $2.19. Investor sentiment remains mixed, prompting caution among holders who might have reached their return peak.
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