David Schwartz Ripple’s CTO, architect, and co-creator of the Ripple ledger in a recent interview spoke on the firm’s growing interest in NFTs. Founder of Ripple-backed XRPL Labs, Wietse Wind in February this year came up with a proposal to implement support for non-fungible tokens [NFTs] on the XRP Ledger [XRPL], which does not require changing the code for XRPL.
Wietse Wind highlighted a unique feature of NFTs, which is that they are indivisible and are used to create verifiable digital ownership and scarcity. According to Wind, XRP Ledger already supports token issuing, meaning that, they can be sent, transacted to other XPRL accounts.
Another interesting event for the XRP crypto-asset was the Apex XRPL Developer Summit that took place on 29-30 September, where Ripple launched a 250 million USD fund to support creators, monetize accessible and innovative NFT experiences on the XRP Ledger.
XRP Price Prediction: XRPBTC Weekly Chart
Ripple’s XRP starts to see growing demand after the regular bullish divergence on 28 December ’20, followed by a bear-trap candlestick pattern on 08 March ’21 for a 410% price surge against BTC.
A recent hidden bullish divergence support on 18 October ’21 increase the bullish outlook of the XRPBTC. We expect a further rise in demand for XRP with a weekly price close above the 09 August resistance.
XRP Price Prediction: XRPUSDT Weekly Chart
The XRPUSDT maintains a bullish outlook on the weekly time frame with the most recent bullish setup being the bear-trap candlestick pattern on 20 September ’21.
Higher RSI readings above level-25 suggest a surge in buy pressure towards the XRP vs. the USDT.
XRP Price Prediction: XRPUSDT Daily Chart
The daily chart above reveals the XRPUSDT trading within opposing bearish and bullish divergence support [$1.100] and resistance [$1.3550] levels on 06 November ’21 and 10 November ’21.
A second bullish divergence setup signals more recent support on 12 November ’21 making it rather difficult for the bears to drive the XRP price lower. If the XRP price closes below the $1.100 support, we may expect to see an oversold level below level-25 as the next price floor.
For now, we’ll consider taking a long order, and dollar cost average into the uptrend if the RSI enters the oversold area.
XRP Price Prediction: XRPUSDT 4 Hr Chart
Zooming down to the intraday 4HR chart, the XRPUSDT fixed support at 30 October 12:00, 06 November 12:00, and 10 November 20:00.
The second bullish divergence support [$1.1615] is established on 12 November 12:00 setting the XRPUSDT crypto pair for a price hike.
The post XRP Price Prediction: Is It A Good Time to Long XRP? Here Are Important Levels to Watch out appeared first on Coingape.
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