Wrapped XRP on ETH blockchain by year’s end: See how it will affect the price

Wrapped XRP on ETH blockchain by year’s end: See how it will affect the price
фото показано с : invezz.com

2021-11-5 17:42

Recently, wrapped.com announced that Wrapped XRP (XRP/USD) would appear on the Ethereum (ETH/USD) blockchain before the end of this year. How will this impact Ripple’s price? Can we expect another bull run?

1:1 backing by Ripple, new DeFi privileges for token holders   

Wrapped XRP will be backed 1:1 by XRP. Custodial services will be provided by HEX Trust. Wrapped tokens will provide token holders with new DeFi privileges. They are crypto assets hosted on a blockchain that’s different from their original network.

The best-known wrapped token is Wrapped Bitcoin (WBTC/USD), which makes it possible to trade Bitcoin (BTC/USD) on DEXs as it is hosted on the Ethereum blockchain.

Breakout beyond resistance levels expected

According to Credible Crypto, the price of Ripple will explode above significant resistance levels in the very near future. The analysts find Ripple’s current price structure is similar to that of TRAC (OriginTrail), a rapidly growing token and data sharing protocol. Following its listing, TRAC gained more than 200%. Ripple is expected to surpass its all-time high, reaching above $3.4.

Below is a quick overview of price predictions and how the announcement will impact XRP.

Weekly time frame

RSI flags higher values above level-25 on the monthly time frame, a trend confirmed by oversold levels on the weekly time frame. Oversold support on June 21 was confirmed by hidden bullish divergence, sending Ripple/USDT back into an upswing.

There was support for the bear-trap candlestick formation above $0.78. Ripple finds new support beyond significant resistance levels. Analysts expect a breakout of support at $1.42.

Daily time frame

Ripple/USDT reached a new peak after a set of seemingly contradictory divergence patterns, both bearish and bullish. In order for Ripple to advance towards the $2.00 round-number resistance, bullish momentum will have to move the XRP/USDT exchange rate above significant resistance at 1.42.

From an investment perspective, the XRP appears closer to completing a bullish breakout from a descending channel formation in the intraday chart. Ripple bounced off the key support at about $0.94 last week.

The post Wrapped XRP on ETH blockchain by year’s end: See how it will affect the price appeared first on Invezz.

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Ripple (XRP) на Currencies.ru

$ 0.5262 (+0.21%)
Объем 24H $1.101b
Изменеия 24h: -0.49 %, 7d: 1.15 %
Cегодня L: $0.5225 - H: $0.527
Капитализация $29.176b Rank 7
Цена в час новости $ 1.1586 (-54.58%)

xrp wrapped 160 usd ripple price eth

Источник: invezz.com

xrp wrapped → Результатов: 15


Фото:

Should you invest in Ripple (XRP) after the arrival of wXRP in DeFi?

Ripple XRP/USD is a digital asset built for payments and is the native digital asset on the XRP Ledger. It is a blockchain originally developed in 2011 and has stood the test of time. The arrival of Wrapped XRP (wXRP) as a catalyst for growth On October 27, Brian Armstrong said that Ripple is faring […] The post Should you invest in Ripple (XRP) after the arrival of wXRP in DeFi? appeared first on Invezz.

2021-11-5 16:14


Wrapped XRP переезжает на Ethereum

Токен компании Ripple, XRP, дистанцируется от сети распределенного реестра XRP Ledger. Как написал у себя на странице в твиттере технический директор Ripple Дэвид Шварц, держатели wrapped xrp (WXRP) получат доступ ко всей экосистеме Ethereum.

2021-11-3 16:48


Фото:

Wrapped будет предоставлять поддержку XRP в блокчейне Ethereum

Компания Wrapped будет предоставлять поддержку XRP в блокчейне Ethereum. Последние пару месяцев XRP в основном фигурировал в заголовках из-за продолжающегося судебного процесса Ripple против Комиссии по ценным бумагам и биржам (SEC).

2021-11-3 14:54


XRP, SEC, Ripple lawsuit: What does this latest bone of contention mean for the parties involved?

When the SEC charged Ripple Labs and its executives of illegal securities offerings back in December, there were many who expected the lawsuit to be wrapped up within a few months. "It'll be settled oThe post XRP, SEC, Ripple lawsuit: What does this latest bone of contention mean for the parties involved? appeared first on AMBCrypto.

2021-5-5 17:00


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