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Is Ripple’s new partnership the boost XRP needs?

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Ripple [XRP] has been in a tough battle with the SEC for many months, which has made investors shy away from XRP. However, Ripple keeps finding ways to find the limelight, the latest being a partnership with the Bank for International Settlements (BIS).

Read Ripple’s [XRP] Price Prediction 2023-24

The newly announced partnership also highlighted the potential for an XRP rally, which was already showing minor bullish signs at press time.

On 20 August, Ripple was announced as an official partner of the “cross-border payments interoperability and extension taskforce,” a subgroup within the BIS Committee on Payments and Market Infrastructures.

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👏 Congrats on this outstanding achievement @Ripple!

Ripple was announced as an official partner of the “cross-border payments interoperability & extension taskforce,” a subgroup within the Bank for International Settlements (BIS) Committee on Payments & Market Infrastructures. pic.twitter.com/qk9ZuwZXzm

— Uphold (@UpholdInc) August 20, 2023

This happened a few days after MasterCard’s CEO revealed that the company will be partnering with a few blockchain/Web3/payments players, including Ripple, for its CBDC partner program.

The aforementioned updates made XRP a topic of discussion in the crypto space as its social metrics rose. As per LunarCrush, XRP’s social engagement and social dominance shot up by 42% and 63%, respectively, in the last seven days.

Moreover, bullish sentiment around the token also surged by nearly 60%.

Source: LunarCrush

The rising bullish sentiment meant that investors were expecting XRP’s value to rise. However, things were yet to be reflected on the token’s price chart.

According to CoinMarketCap, XRP was down by more than 1% in the last 24 hours. At the time of writing, it was trading at $0.5201 with a market capitalization of over $27.4 billion.

Nonetheless, a few of the metrics supported the possibility of an uptrend. Notably, whale activity around XRP was high. Alongside, the token’s MVRV Ratio registered an improvement over the last few days. However, its network growth dropped last week.

Source: Santiment

Realistic or not, here’s XRP’s market cap in BTC’s terms

Interestingly, though the MACD showed a bearish edge, it also suggested that the bulls could soon take over. XRP’s Relative Strength Index (RSI) was right near the oversold zone. This could increase buying pressure and, in turn, increase the token’s value.

Moreover, the Chaikin Money Flow (CMF) also registered a slight upward trend as it moved away from the neutral mark of 0, further increasing the chances of a northbound price action.

Source: TradingView

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  • 08.10.23 01:30 davec8080

    The "Shibarium for this confirmed rug pull is a BEP-20 project not related at all to Shibarium, SHIB, BONE or LEASH. The Plot Thickens. Someone posted the actual transactions!!!! https://bscscan.com/tx/0xa846ea0367c89c3f0bbfcc221cceea4c90d8f56ead2eb479d4cee41c75e02c97 It seems the article is true!!!! And it's also FUD. Let me explain. Check this link: https://bscscan.com/token/0x5a752c9fe3520522ea88f37a41c3ddd97c022c2f So there really is a "Shibarium" token. And somebody did a rug pull with it. CONFIRMED. But the "Shibarium" token for this confirmed rug pull is a BEP-20 project not related at all to Shibarium, SHIB, BONE or LEASH.

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  • 23.09.24 18:56 matthewshimself

    At first, I was admittedly skeptical about Worldcoin (ref: https://worldcoin.org/blog/worldcoin/this-is-worldcoin-video-explainer-series), particularly around the use of biometric data and the WLD token as a reward mechanism for it. However, after following the project closer, I’ve come to appreciate the broader vision and see the value in the underlying tech behind it. The concept of Proof of Personhood (ref: https://worldcoin.org/blog/worldcoin/proof-of-personhood-what-it-is-why-its-needed) has definitely caught my attention, and does seem like a crucial step towards tackling growing issues like bots, deepfakes, and identity fraud. Sam Altman’s vision is nothing short of ambitious, but I do think he & Alex Blania have the chops to realize it as mainstay in the global economy.

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  • 02.10.24 22:27 Emily Hunter

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  • 31.10.24 00:13 ytre89

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    If I hadn't found a review online and filed a complaint via email to support@deftrecoup. com , the people behind this unregulated scheme would have gotten away with leaving me in financial ruins. It was truly the most difficult period of my life.

  • 22.11.24 04:41 [email protected]

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  • 24.11.24 02:21 [email protected]

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  • 25.11.24 02:19 briankennedy

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  • 26.11.24 23:12 rickrobinson8

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  • 27.11.24 09:10 Michal Novotny

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  • 04.12.24 22:24 andreygagloev

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  • 00:21 swiftdream

    I lost about $475,000.00 USD to a fake cryptocurrency trading platform a few weeks back after I got lured into the trading platform with the intent of earning a 15% profit daily trading on the platform. It was a hell of a time for me as I could hardly pay my bills and got me ruined financially. I had to confide in a close friend of mine who then introduced me to this crypto recovery team with the best recovery SWIFTDREAM i contacted them and they were able to completely recover my stolen digital assets with ease. Their service was superb, and my problems were solved in swift action, It only took them 48 hours to investigate and track down those scammers and my funds were returned to me. I strongly recommend this team to anyone going through a similar situation with their investment or fund theft to look up this team for the best appropriate solution to avoid losing huge funds to these scammers. Send complaint to Email: info [email protected]

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