02 March, 2024

XRP Gears Up for Record Surge with ECB’s Blockchain Endorsement

2 months ago

20 Feb, 2024

  • The European Central Bank’s use of XRP Ledger elevates XRP’s credibility, signaling potential surge.
  • Despite market fluctuations, XRP’s performance and ECB endorsement reinforce its significance.
  • ECB’s move highlights blockchain’s mainstream integration, fostering broader acceptance and sector innovations.

XRP is gearing up for a new parabolic pump, signaling a potential all-time high in the near future as highlighted by JackTheRippler, a renowned blockchain figure. Amidst growing excitement in the crypto community, the European Central Bank (ECB)’s alleged use of the XRP Ledger in its TIPS payment settlement services is fueling optimism. 

According to Edo Farina, CEO of Alpha Lions Academy, this development underscores the increasing significance of XRP in the evolving landscape of digital currencies. Consequently, XRP appears poised to reach unprecedented heights. The European Central Bank’s choice to employ the XRP Ledger serves as a significant expression of trust and confidence in the cryptocurrency.

Furthermore, this strategic move positions the XRP Ledger as a robust and enduring blockchain. Moreover, receiving such a prominent endorsement augurs well for the long-term outlook of XRP. Despite the positive sentiment, the current market value of XRP stands at $0.5742. This value is reflective of a 24-hour trading volume surpassing $909 million. Nonetheless, there has been a marginal decrease of 1.53% in the past day and a minimal 0.01% dip over the course of the previous week.

XRP’s market cap, standing at a robust $31 billion, is impressive. This valuation is backed by a substantial circulating supply of 54 billion coins. Furthermore, the Relative Strength Index (RSI) for XRP is currently at 44.15. This figure falls within the neutral range, suggesting neither overbought nor oversold conditions.

The Moving Average Convergence Divergence (MACD) provides additional insight. The MACD and signal lines offer key indicators of market trends. The MACD histogram, revealing the disparity between these lines, presently indicates a bearish momentum with its negative values. Nonetheless, the market is abuzz with anticipation for XRP’s upward trajectory.

XRP/USD 4 hour Price Chart, Souce: TradingView

The European Central Bank’s partnership with the XRP Ledger not only legitimizes Ripple, but also demonstrates how fast blockchain technology entered mainstream finance. This significant development may result in wider adoption and further developments to the field.

Despite experiencing slight variations, XRP’s current performance indicates a favorable direction, supported by the implied endorsement from the European Central Bank and the evident strength of the XRP Ledger. This resilience fosters a positive outlook for Ripple. Amidst the continuous evolution of the cryptocurrency landscape, the importance of XRP’s central role is becoming more apparent, laying the groundwork for a potentially impactful year in 2025 for this digital asset.



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