Technology billionaire Elon Musk received different reactions from the Ripple (XRP) community with his latest tweet. Meanwhile, increased interest from major players could herald a price recovery for the altcoin. A popular analyst predicts a bounce for XRP.
Elon Musk’s post triggered bullish reaction from XRP Army
Tesla CEO Elon Musk made an announcement about one of his companies, SpaceX, from his X account. But this time it wasn’t about launching starships, it was about space. Musk shared that more Starlinks are reaching Earth orbit. A few XRP-themed accounts were the first to comment on this issue. Since the beginning of Twitter’s rebranding as X, XRP fans have been pointing out the striking similarity of the X logo to the logo of their favorite altcoin project, XRP. That’s why they leave a lot of other comments under Musk’s tweets.
This time, echoing Musk’s X message, “More XRP is reaching orbit” and “XRP is about to reach orbit after liftoff!” they wrote. They also left other positive comments. As always, Musk didn’t bother to answer. His favorite bet in crypto remains the meme coin Dogecoin (DOGE), a parody of Bitcoin launched in 2013.
$XRP is about to reach orbit after takeoff!
— XRP whale (@realXRPwhale) November 18, 2023
Recently, XRP Army members have been frequent guests in the comments under Elon Musk’s tweets. It looks like they are struggling to attract the attention of boss X to the Ripple-related coin. However, Musk still only posts about Dogecoin and sometimes smaller altcoins. Musk has also posted memes about AI-driven cryptocurrencies on several occasions. His tweets often led to sudden but short-term increases in the prices of these altcoins.
Analyst predicts a bounce for altcoin
XRP, the fifth-largest cryptocurrency by market cap, is falling along with the rest of the crypto market after news emerged that the SEC was delaying decisions on two Bitcoin ETFs. With current declines, it is possible that XRP could see its first weekly loss since October. Crypto analyst Ali Martinez points out that the altcoin price has fallen by 18% in the last 10 days.
#Ripple | Despite $XRP's 18% price drop over the past 10 days, there's a notable uptick in whale transactions and their holdings. This growing interest from major players could be a precursor to a #XRP price rebound. pic.twitter.com/bpYZjCce1K
— Ali (@ali_charts) November 17, 2023
Despite the price drop, the analyst says there has been an increase in assets as well as whale transactions. He adds that this increased interest from major players could herald a price recovery for the altcoin. In another post, the analyst states that TD Sequential showed a buy signal on XRP’s four-hour chart. He notes that this would lead to a return to $0.63 or possibly $0.67. If this happens, XRP will see a 12% increase from its current price.
XRP Ledger announces results of EVM side-chain audit
Cybersecurity firm Bishop Fox completed a comprehensive security audit of the EVM sidechain a few months ago. He particularly evaluated the EVM side-chain application. The audit also evaluated the EVM side-chain consensus mechanism and the bridging implementation between XRPL and EVM using the cross-chain bridging (XLS-38d) specification for XRPL.
Bishop Fox submitted improvement reports for both the EVM sidechain and the XLS-38 cross-chain bridge earlier this month. However, it has now disclosed its audit findings regarding the altcoin project. The problems highlighted in the audit were resolved in the latest application. As we reported as Kriptokoin.com, the company will include these fixes in the main-net launch of the EVM side-chain.
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