Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Ripple’s XRP is leading the way in institutional cryptocurrency adoption as major financial entities and significant whale activities indicate increased confidence. Recent events, such as strategic alliances and notable blockchain transactions, highlight the rising institutional dependence on XRP for settlement solutions.
Global Banks Seek Ripple for Crypto Integration
Andrew De’Vilbiss, a prominent crypto analyst, recently alluded to significant developments involving Ripple, Bitstamp, and leading global banks. De’Vilbiss indicated that several of the world’s top 30 commercial banks are preparing to launch crypto trading and settlement services in partnership with Bitstamp, utilizing Ripple’s settlement technology.
#Ripple $XRP
Some top 30 global commercial banks are about to turn on their crypto service with Bitstamp in partnership with Ripple.
I believe this to be the FX market coverage for on/off ramps and settlement provided by Ripple similar to their work with Etoro.
This is much… pic.twitter.com/wZeHTQnNgo— Andrew De’Vilbiss (@DrewDeVilbiss) December 21, 2024
“This represents advanced institutional adoption for trading and exchanging digital assets. Ripple’s equity stake in Bitstamp and XRP’s function as a settlement layer position it for considerable uptake,” tweeted De’Vilbiss.
Ripple’s strategy for incorporating XRP into FX liquidity management presents significant benefits. With quicker settlement times and lower costs, XRP offers an effective alternative to conventional financial systems, potentially transforming institutional operations.
Whale Activity Indicates XRP’s Increasing Utility
In addition to institutional advancements, Whale Alert reported a substantial transfer of 40 million XRP, valued at $89.68 million, from Ripple to an unidentified wallet:
40,000,000 #XRP ($89,678,944 USD) transferred from #Ripple to unknown wallet.
View transaction
10:16 PM · Dec 21, 2024
Such transactions frequently suggest preparations for institutional liquidity requirements or forthcoming high-value settlements.
These activities reflect Ripple’s strategy to enhance liquidity for global adoption, further reinforcing XRP’s position as a bridge asset.
Why Institutional Adoption Enhances XRP
Ripple’s expanding institutional presence could reshape XRP’s market valuation.
Key advantages include:
- Liquidity Improvement: Ripple’s collaborations with financial institutions create substantial liquidity pools essential for high-volume transactions.
- Cost Effectiveness: XRP’s minimal fees and swift settlements attract institutions looking to lower expenses.
- Market Expansion: Collaborations with Bitstamp and banks introduce XRP to a broad new audience of institutional traders and investors.
Related Posts
De’Vilbiss highlighted the significance of these developments, stating, “This is much bigger than expected.”
Technical Outlook: XRP/USD – December 22, 2024
XRP is currently priced at $2.26, reflecting a decrease of 0.53% over the past 24 hours, with a trading volume of $12.59 billion. The cryptocurrency encounters a downward trendline resistance near $2.30, which coincides with the pivot point. This level continues to restrict upward momentum, indicating a selling bias unless surpassed.
The 50-day EMA, situated near the trendline, adds another layer of resistance. Important levels to monitor include:
- Resistance: $2.30, $2.43, $2.58
- Support: $2.11, $1.96, $1.85
The RSI at 46 indicates neutral momentum, leaning towards bearish. A significant drop below $2.26 could result in further declines, while a rise above $2.30 may indicate a reversal.
Conclusion: While XRP’s institutional adoption underscores its increasing role in global finance, the $STAR coin is forging its own path by transforming the meme coin market with innovative staking rewards and rapidly expanding investor interest.
$STARS Presale Concludes with Over $25M Raised – Trading Launch Imminent!
The Crypto All-Stars ($STARS) presale has officially concluded, achieving an impressive milestone with over $25,000,000 in total funds raised. This strong backing from investors establishes $STARS as one of the most anticipated crypto launches of 2024. Trading is set to begin at 2 PM UTC on Monday, December 23, 2024.
Why $STARS Stands Out
The Crypto All-Stars initiative has garnered attention with its innovative MemeVault platform, providing staking rewards of up to 138% APY on popular meme coins such as $DOGE, $SHIB, and $PEPE. The combination of substantial staking rewards, presale success, and robust community support positions $STARS as a frontrunner in the evolving meme coin landscape.
Key Details Post-Presale:
- Total Raised: Over $25,000,000
- Staking Rewards: Up to 138% APY for $DOGE, $SHIB, and $PEPE
- Launch Date: Monday, December 23, 2024, at 2 PM UTC
- Audit Certification: Verified by SolidProof, ensuring top-tier security
- Analyst Prediction: $0.02 in 2024, signaling potential 11x returns
Secure your $STARS tokens before the presale ends and position yourself ahead of the official launch.
The post Global Banks Adoption May Drive XRP Price appeared first on Cryptonews.
