Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Despite the broad-based ecosystem triggers XRP is experiencing at the moment, its price is still lagging behind important bullish thresholds, an indication of sustained bearish pressure in recent times. Per data from digital currency analytics platform CoinMarketCap, XRP is changing hands at a price of $0.5012, down by a marginal 0.20% surge in the past 24 hours.
The current outlook of XRP is a testament that it has largely shed the bulk of its gains since the market's bulls went on a rampage after its nonsecurity status was declared by Judge Analisa Torres back in July. XRP is now notably charting a whole new level playing field for itself, a switch that is understandable seeing as the market trend has not been favorable to it in recent times.
While there is a general consensus that XRP is on the verge of a breakout post-ruling, the question now remains what the liftoff will be.
At a time when the healthy flow of transactions featuring the XRP coin is not enough to trigger a sustained bullish run, bulls might need to strategize and capitalize on the broader crypto market trend to break its current close trading range dormancy.
Maximizing bullish ecosystem outlook
At the moment, there has not really been any major news in the ecosystem that is directly in favor of XRP. While the expansion of USDC payment support to Solana by Visa Inc, one of America's payment giants, is a positive boost for Solana and the stablecoin, we might expect some minor subtle rub-off on XRP in the long term.
As a token that has its own unique ecosystem, the positivity surrounding new innovations making their way onto XRP Ledger (XRPL), as well as customized upgrades, may play a more emphatic role in driving the price of the coin to a whole new high in the mid- to long term.
Arman Shirinyan
