Milestone for Ripple
San Francisco-based payment technology company Ripple has released its third quarter reports. In the report released by the company, it was seen that the amount of XRP in Ripple’s portfolio was less than half of the total supply for the first time. As it is known, Ripple has been heavily criticized for its control over the supply of XRP to date. Making a statement on the subject, Ripple CEO Brad Garlinghouse described the development as a “big turning point”. Garlinghouse further stated that for 10 years, Ripple has focused on using XRP and XRP Ledger with speed, security and scalability to gain benefits.
Ripple also claimed in its report that it operates only 4 of the 130 existing nodes of XRP Ledger, in response to claims of centralization. Also, according to the report, when secondary market purchases are deducted, the company’s total XRP sales stood at $310 million 680 thousand for the third quarter. The company sold $2.819 million in XRP during the third quarter. Net sales were $310 million versus $409 million in the second quarter.
XRP Could Enter the NFT Industry
A very critical draft amendment has been prepared in the blockchain-based international payment network Ripple. The change vote, which includes many improvements in the XRP network and the existence of NFTs, will take place in 2 weeks. If the validators can get the required majority in the vote (which is like 80%), the NFT era will officially begin at Ripple. Popular cryptocurrency XRP has already launched the third phase of its $250 million creator fund to help creators launch NFT projects on the XRP Ledger. Continuing to invest in creators, XRP announced that it has launched the third wave of its incentive package called the “Creator Fund”. The company will contribute between $25,000 and $250,000 per project, depending on the requirements. The Ripple company, which aims to fight Ethereum-based projects, which is the pioneer of the NFT field, is not limited to just monetary support. As another advantage of the fund, it also aims to provide theoretical and technical support to promote the development of blockchain technology in this new digital space.
Golden Cross in XRP
Analysts see the Golden Cross pattern, which appeared on the XRP chart for the first time in 15 months, as a bull market indicator. A Golden Cross usually indicates a bull market, likely to occur in the near future. This term refers to a bullish signal for traders. The Golden Cross model was last seen in XRP on July 17, 2021, after which XRP experienced a 176% rally.
XRP Price Analysis
Priced at 46 cents with a loss of 2.36% in the last 24 hours, XRP, if it continues to be priced in this direction, the first support point it will face is at the level of 45 cents. If the XRP price goes down from that level, the other support point to be encountered is at the 38 cent level. If there is an upward movement in the XRP price, our first resistance point to meet us is at the 50 cent level, while the other resistance points are at the 53 and 60 cent levels.
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