Over the past 24 hours, the market has been in the green. Bitcoin, the market leader, rose 1.12%, while Ethereum rose 0.44%. Meanwhile, Binance Coin (BNB) is one of the top performers, up over 7%.
XRP price action
On the monthly chart, the price of the XRP token appears to be preparing for the next stage of positive momentum. With strong demand to buy from lower levels, the crypto asset is trying to soar.
Technical indicators indicate a flat or neutral trend with minimal volume activity on the chart. If the Bulls manage to remove all DMA lines, we can expect levels of $ 1.50 to $ 1.80 in future trading sessions.
The volume of activity is smaller and requires a significant increase to be sustainable on the upper side. $ 1.00 and $ 0.92 serve as lower level support, while $ 1.17 and $ 1.25 serve as upper level resistance.
Ripple Q3 Report!
Company has seen “strong growth and adoption of ODL (liquidity on demand)”, with ODL transactions increasing 130% quarter over quarter on RippleNet, according to third quarter report by Ripple.
The expansion of ODL is seen as a positive indicator as it takes advantage of XRP and eliminates pre-financing, reducing operational expenses and allowing cross-border capital to flow. According to the article, ODL users can easily execute cross-border transfers through third parties such as exchanges, or even directly from their own crypto wallets, allowing for a smoother payment flow.
Additionally, Ripple announced that its trading volume has more than doubled from last year’s figures. The company has since attributed the third quarter XRP sales to its extraordinary growth and acceptance of ODL.
Regardless of the SEC lawsuit, Ripple maintained the value of its XRP token. This was referring to Ripple’s $ 250 investment in a creative fund for NFTs on the XRP ledger last month.
