The XRP price increased by 3 %thanks to Ripple’s partnership with Unicâmbio and XRP ETF approval expectations. These developments have increased speculation that the XRP can make larger price movements in the coming period.
XRP ETF is likely to approval
While the XRP experiences the second rise session in a daily graph, analysts think that the Stock Exchange Investment Fund (ETF) for the XRP may be close. These approvals, which can have a significant impact in the crypto currency market, continue to attract the attention of corporate investors. Bloomberg ETF analysts Eric Balchunas and James Seyffart said that XRP is among the possible crypto ETF applications to receive SEC approval. In a statement on Monday, XRP ETFs have the possibility of approval of 65 %. This has created great excitement in the markets.
Open positions in XRP -term transactions increased by about 290 million dollars in the last 24 hours. This increase shows that investors expect big price movements and open more positions. The fact that futures funding rates are positive also supports investors’ expectations for price increase.
Ripple and Unicâbbio partnership support the price
Another important reason for the rise in the XRP price is Ripple’s partnership with the Portuguese -based foreign exchange provider Unicâmbi. This partnership aims to accelerate cross -border payments between Portugal and Brazil and to reduce costs.
Ripple’s payment platforms will be used in this process and this partnership will enable the company to expand its existence in Europe. Cassie Craddock, Ripple’s UK and European Director, described this development as an “important step in European expansion”. Thanks to the partnership, higher efficiency will be achieved in cross -border transactions.
Analysts think that XRP price can reach $ 8
Crypto analyst Dark Defender said that the short -term target of XRP is $ 5.85 and its long -term target is $ 8.76. Elliott said that these levels have strong points of resistance based on wave theory. Another analyst Casitrades predicts that XRP can reach $ 2.92. Stating that the consolidation is at the top of the hourly graph, the analyst said that a upward break can confirm this goal.
According to Kriptokoin.com’s assessment, the fact that the XRP remains on the 50 -day simple moving average (SMA) may confirm that the bull market structure is returned.
