Ripple is a crypto-fintech company that has won FinTech Breakthrough Award: Best Cross-Border payments platform and Best DeFi Infrastructure Platform. The company announced the award on X and expressed gratitude to the FinTech Awards. Ripple’s win may be good for the XRP token that the company uses for its payment initiatives.
Also Read: Ripple CTO Says Gradual Appreciation May Lead Big XRP Gains
Will Ripple’s XRP rallies after its recent victory?
After Bitcoin (BTC), which plummeted to below $64k, the cryptomarket experienced a large correction. Ripple’s XRP follows current market trends, with a fall of 5.3% on the daily charts and 16.2% on the weekly charts. The 14.-day charts show a drop of 9.8%. The XRP token is up 4% from the month before and has increased by 52% in value since March 20,23.
According to the Federal Reserve, the recent market correction may be the result of high US inflation rates for the month of February. These numbers could delay plans by the Federal Reserve for a rate reduction. Investors may also be taking profits and causing a drop in price.
CoinCodex estimates that Ripple’s currency XRP may rebound to $0.77 before March. The price of XRP will rise by 32.7% to $0.77 on March 23, 2024. The platform predicts that prices will not remain at $0.77 and suggest a price correction shortly after.
Also Read: Ripple XRP Price Prediction: Can It Hit $0.80 This Week?
Changelly expects Ripple’s XRP’s price to recover to $0.762191 before Mar. 21, 2024. It does not, however paint an optimistic picture of the asset for April.
BTC is still undergoing its next A halving of the cycle could lead to an April rally. Analysts consider that halvings are bullish because they decrease the supply of an asset. XRP may also see a rally if Ripple gets a positive ruling in the ongoing SEC lawsuit.
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Source: watcher.guru