XRP price is teetering on the edge of a major support level, specifically around the $0.48 price point. Recently, XRP’s value has showcased both resilience and vulnerability. At present, it stands at approximately $0.50840. With news that Ripple is expanding worldwide, will XRP price go up to 1$ soon? In this article, we also check the Ripple SEC lawsuit update.
XRP operates as both a platform and a currency. The Ripple platform is an open-source protocol that’s designed to allow quick and cheap transactions. Unlike Bitcoin, which was never intended to be a simple payment machine, Ripple is essentially a back-end infrastructure. Banks and financial institutions can integrate the Ripple software into their systems, allowing them to facilitate global money transfers.
How to Purchase XRP Coin?
Buying Ripple’s token is straightforward:
- Choose a Wallet: Like all cryptocurrencies, your XRP is stored in a digital wallet.
- Select an Exchange: Platforms such as Binance, Coinbase, and ByBit offer XRP.
- Purchase: After setting up your account, you can use traditional currency to purchase XRP.
- Transfer: For added security, move your XRP from the exchange to your personal wallet.
XRP Price Analysis: What’s Happening to XRP?
What’s particularly striking in XRP’s recent price narrative is the coming together of moving averages. This usually hints at a forthcoming shift in trend, implying possible heightened volatility. Yet, while these averages offer some foresight, they shouldn’t be the sole basis for predictions. The $0.48 mark has been a focal point for investors and analysts, but despite its significance, the overall buzz surrounding XRP appears surprisingly muted. This hushed atmosphere has led to speculations about its price potential in the upcoming period.
Given the broader cryptocurrency market’s current inertia, XRP’s future, especially in light of the moving averages, remains cloaked in uncertainty. The digital currency is at a crossroads, and the existing market dynamics make forecasting a challenge.
Ripple’s Expansion and Hiring Plans
Despite cryptocurrency market turbulence, Ripple has ambitious growth plans. However, its expansion isn’t centered in its home country, the U.S., mainly due to ongoing regulatory challenges with the U.S. SEC. Instead, Ripple’s gaze is fixed on countries like Singapore, UAE, UK, Switzerland, and notably, Canada.
Ripple’s Open Roles and International Focus
Ripple has advertised 55 job openings across diverse sectors such as Engineering, Marketing, and Finance, as mentioned on its official site. A significant portion, 19 to be exact, are based in Canada, with London trailing with 16 positions. Despite regulatory hiccups in the U.S., there are still hiring plans for cities like NYC, San Francisco, and Miami. Brad Garlinghouse, Ripple’s CEO, emphasized that the majority of the hiring will be in countries with clear regulatory guidelines and a collaborative approach between governments and the industry.
Ripple SEC Lawsuit Update
The driving force behind Ripple’s global expansion is its legal tussle with the U.S. SEC. The blockchain company managed to secure a significant, albeit partial victory in mid-July, with the court ruling that its XRP sale wasn’t akin to offering investment contracts. This decision, unsurprisingly, catalyzed activity in the XRP market and the broader crypto space.