Ripple’s fundraising and development arm, Xpring, has revealed some new information about its efforts to promote XRP adoption. It seems that Xpring is developing several new initiatives to attract XRP Ledger adoption globally.
Xpring is revealing new details to drive the adoption of the XRP
Product director, Warren Paul Anderson, said Xpring is implementing a new development related to attracting engineers building on XRP Ledger globally. It is designed to give people a central hub to share content, discover events, and get support.
He said:
“Today, we focus on producing content that makes it easier for developers to access Blockchain technology and digital assets through technical documentation, sample code, instructions, demos video, and also write our blog posts and forums (new!).”
New communication tools to help build ecosystems include forums and community pages. Ripple is currently managing content to give developers access to Blockchain and XRP technology. Xpring also plans to expand its reach around the world through meetings, conferences, and hackathons.
In December, Ripple’s investment division launched a software development kit (SDK) to help developers integrate XRP-based payments into their products. Xpring has also allocated XRP worth over $ 500 million to fund businesses building on cryptocurrency and Blockchain.
What will XRP price look like shortly?
Since starting trading above $ 3 in January 2018, the XRP price has dropped to $ 0.24 at present and sometimes as low as $ 0.17. That represents a drop of more than 90% from an all-time high.
However, analysts are confident that the Altcoin may soon rise further.
Trader TraderSmokey emphasized that the XRP BTC trading pair looks good and that the pair escaped from a long-term falling wedge to only merge into a short-term falling wedge, implying an impending breakout happening. He said that this merger with Ichimoku Cloud is increasing, causing XRP to soar around 6% – 7% compared to Bitcoin.
BTC pair, looking for a flip at 2800 Sats.
4h Cloud looks good. pic.twitter.com/AmRVBeeKXP
— TraderSmokey (@SmokeyXBT) February 3, 2020
According to the Telegram channel monitoring the TD Sequential indicator, the daily chart of the XRP/BTC trading pair saw a “Buy 9” (significantly different from the Buy 13 candles seen with Bitcoin, but increased in price). Candles in Friday’s session. If the indicator emits as theory, XRP may soon start rising against Bitcoin.
Besides, according to previous reports from the store itself, Bitcoin analyst Jack emphasized that the XRP/BTC trading pair has a bullish setup formation, recently forming a bottom at upper levels. He stated that the cryptocurrency could soon rise from 2,536 satoshis to 2,879 satoshis – up 13.5% in the coming weeks.
On a long-term basis, TraderXO notes that XRP versus BTC has been traded in a similar way to the chart pattern or chart described by legendary charter Richard Wyckoff. The diagram is a Wyckoff accumulation model and implies that XRP is currently in a C accumulation phase, correlating with a sharp rise back to a high level.
Disclaimer: This is not trading advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
Read more:
- Royal Bank Of Scotland Is One Of The Prominent Customers Of Ripple And XRP Liquidity Attains All-Time High On Australia Exchange
- 1bln XRP Was Released From Ripple Escrow Making The Community Angry While The Whales Transferred Over $1bln BTC