Ripple’s announcement about its stablecoin surprised the market. This led to an increase of 32% in XRP trade volume. CoinMarketCap. The asset is also aiming to reach $0.60.
This week, Ripple has been in a struggle to stop its price decline. The optimism that arose from today’s news announcement seemed to have impacted interest. Moreover the recent rise should help XRP to have a positive outlook heading into 2019. Bitcoin Halving Event.
Please Read This: Ripple to Launch Stablecoin Pegged to the US Dollar
As the price climbs towards $0.6, Ripple Stablecoin prices increase by 8%.
In the midst of positive sentiment surrounding Bitcoin or Solana assets, stablecoins remained an attractive segment on the market. It is often viewed as a form of aftermarket, but with less volatility. It has been a long-standing industry tradition to embrace the assets. Thursday, a brand new competitor entered the highly competitive environment.
Ripple has announced a new stablecoin, which has increased its XRP trading volume by up to 32%. The announcement was able to reverse the downward trend of XRP. This is despite all the good news. It’s still down over 7% from last month.
![Ripple XRP](https://fxruhanahmed.com/2/wp-content/uploads/2024/03/Ripple-XRP-Trading-Volume-Up-130-Amid-Market-Downturn.webp.webp)
Please Read This: Ripple XRP Set for Weekend Rally, Could It Hit $0.80?
The Crypto Trader Kamikaze is a trader who uses the internet to make crypto-currencies. X (formerly Twitter), recently cited Santiment data In reporting the losses that XRP owners have experienced since April began. The holders suffered a combined loss of 25.67 millions dollars due to the two-weeks low price of $0.56. It was a trend which holders had to endure, but it may have changed now.
On the technical front, some believe that XRP is on the way to breaking the $0.62 mark. It would have a significant impact on the asset, and it could give it a boost in its upward momentum.
Then, the next target could be $0.645 or $0.663, depending on its trajectory upward. A visit to these levels may be crucial for the cryptocurrency’s state, even before Bitcoin Halving takes place. This is expected to have a positive impact on all tokens. If XRP gains momentum in the future, there could be massive gains.
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Source: watcher.guru