Ripple has recently announced the launching of a $250 million ‘Creator Fund’ aimed at exploring new use cases for non-fungible tokens (NFTs) on the XRP Ledger (XRPL). The hefty fund will provide financial, technical, and creative support for creators, brands, and marketplaces, as the company teamed up with NFT marketplaces Mintable and mintNFT, and brand design agency VSA Partners. XRPL, an open-source, decentralized blockchain that supports the tokenization of any asset, including NFTs, operates a built-in decentralized exchange (DEX), facilitating fast settlement at low cost with royalties built in.
Technically, we think Ripple started an uptrend but it is still moving inside the range created by the support and resistance areas marked on the chart. The higher probability move is to the upside but we will have to study the price action as the price reaches the resistance to see if it will break from the range or reverse and retest the support area. We advise caution.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically, we think Ripple started an uptrend but it is still moving inside the range created by the support and resistance areas marked on the chart. The higher probability move is to the upside but we will have to study the price action as the price reaches the resistance to see if it will break from the range or reverse and retest the support area. We advise caution.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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