Today’s optimistic revival in the larger digital currency ecosystem is demonstrated by a rise in the combined crypto market value of 2.66% to $1.19 trillion. This trend has been capitalised on by XRP, which has seen a strong recovery print with a 24 hour gain of 1.73%.
Although there are obvious obstacles in some of its key metrics, such as trading volume, at the time of writing, XRP is trading at a spot price of $0.468 and may be on pace to print a more clear growth trajectory going ahead.
XRP bulls may be motivated to revive their interest in the cryptocurrency after a prolonged period of significant sell-offs, as seen by the rising accumulation that will be seen before the week’s conclusion.
The first of XRP’s two short-term price goals is the $0.5 resistance level, which it just exceeded as its 30-day high. If this objective is hit, it may spark a lot of interest in the XRP community, leading to FOMO and encouraging even more individuals to embark on an accumulating binge. By mid-May, if this prediction comes true, it may help drive the price up towards the $0.6 mark.
XRP maintaining its relevance
As a digital currency, XRP has established a very strong ecosystem for itself, with clear plans to further its development and usage in the foreseeable future. While the primary use of the cryptocurrency is as a payment token, Ripple Labs is developing a whole new set of utilities that can increase its acceptance and integration as a decentralised financial asset.
The XRPL Accelerator programme, as U.Today previously reported, has been proposed to support bootstrap companies wishing to expand on the protocol. XRPL is being positioned as a basis for XRP to sustain its relevance while craving for much more, as it records development in smart contracts and user engagement.
