XRP Rally May Continue Despite Pullback as On-Chain Activity Remains Strong
Main Idea
XRP's recent price correction is seen as temporary with strong on-chain activity supporting its rally, while JP Morgan considers accepting Bitcoin and Ethereum as loan collateral, and Shiba Inu's team signals optimism for a potential 800% price surge.
Key Points
1. XRP's pullback to $3.44 is viewed as a temporary cooldown, with key support levels holding firm and strong on-chain activity, including over 1.35 million payments processed on July 21.
2. JP Morgan Chase is reportedly considering accepting Bitcoin (BTC) and Ethereum (ETH) as direct collateral for loans, marking a significant shift from current practices.
3. The Shiba Inu (SHIB) development team has communicated a bullish outlook, suggesting a potential 800% price surge, drawing parallels to its 2021 bull run performance.
4. Technical indicators like the Relative Strength Index (RSI) suggest an imminent reversal for XRP, reinforcing its market position beyond speculative movements.
5. JP Morgan's potential move could catalyze broader institutional adoption of cryptocurrencies, enhancing liquidity and market integration.
Description
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