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- Recently, Ripple announced the launch of its headquarters in Toronto, Canada. And guess what? They are also planning to hire 100 new employees.
- In the upcoming weeks, a break over the psychological $0.40 threshold may set off a purchasing frenzy that will drive the XRP price back up to $0.51.
- A 0.5$ mark is an expected hike. But one thing is true if the CBDC rumors continue to spread in the hearts of investors, even touching a 1$ mark would not be surprising.
Good News For Ripple Investors
It’s always good news to the investors when a company announces its expansion, especially in a new territory. It gives confidence in people that the corporation is profitable and aims to grow at faster rates.
Recently, Ripple announced the launch of its headquarters in Toronto, Canada. And guess what? They are also planning to hire 100 new employees.
Well, obviously, XRP has shown an ascend in its price graph since then.
Since, a long time, there are a lot of theories regarding XRP actually pivoting and becoming a CBDC (Central Bank Digital Currencies) solution.
And why not, The company itself has hinted many times towards the possibility of XRP becoming one.
In one of their tweets, they have stated:
“Ripple’s CBDC solution leverages a private version of the public, open-source XRP Ledger, ensuring greater control over the issuance, management, privacy, and validation- more- so than a public blockchain.”
As of this past Saturday, June 25, the price of ripple is $0.36. On intra-hour time frames, the digital remittance token has experienced an increase in buying pressure.
Hope For The Future
Bulls will probably print a bullish Morning Star pattern if the technicals hold up, which will be a good entry signal for long-term investors.
In the upcoming weeks, a break over the psychological $0.40 threshold may set off a purchasing frenzy that will drive the XRP price back up to $0.51.
As the talks of Ripple XRP becoming a CBDC integrative solution are growing, and the fact that the corporation is hiring on a massive scale is leading to this social media gossip saying that there can be some truth behind the rumors that the XRP is going to become a one-world currency eventually replacing the US Dollar.
We have already seen the example of Dogecoin and Bitcoin, that social media is enough in order to generate hype for a cryptocurrency, eventually inflating the prices.
This phenomenon where people buy something just because they don’t want to be left behind is known as FOMO (fear of missing out).
Now, this CBDC speculation is more than enough to generate a FOMO hype for the Ripple and XRP in the upcoming days.
A 0.5$ mark is an expected hike. But one thing is true if the CBDC rumors continue to spread in the hearts of investors, even touching a 1$ mark would not be surprising.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
