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XRP Seeks Fresh Rally as Investors Look to Key Events in 2022

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Wed, 12/01/2021 - 14:19
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Tomiwabold Olajide
Ripple announced plans to launch Liquidity Hub in 2022 to assist financial services entities in providing customers with the capacity to buy and sell securities
XRP Seeks Fresh Rally as Investors Look to Key Events in 2022
Cover image via stock.adobe.com

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Ripple has announced a financial liquidity hub planned for 2022. XRP seeks a fresh rally past the $1 mark at December's start amid investors' hopes for upcoming events in 2022 that might impact the price.

The goal of Ripple's Liquidity Hub, which will launch in 2022, is to assist financial services entities in offering their clients the opportunity to buy and sell cryptocurrencies. The functionality will provide enterprise clients access to digital assets from a variety of sources, including market makers, exchanges and over-the-counter trading desks, according to the San Francisco-based company.

Second, according to Ripple CEO Brad Garlinghouse, the ongoing Ripple-SEC lawsuit will be resolved in 2022. ''Ripple is seeing pretty good progress despite a slow-moving judicial process,'' according to the CEO. The SEC accused Ripple and its officials of selling $1.3 billion worth of tokens in an unregistered securities offering in December 2020.

XRP/USDT Chart

XRP/USDT Daily Chart, Courtesy: TradinView.com

XRP has improved in price since the Friday sell-off, where it marked lows at $0.87. The cross-border token currently trades at $1. If the buyers of the remittance token push above $1.00, pending buy orders will be filled and market makers will provide more liquidity.

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About the author

Tomiwabold is a cryptocurrency analyst, technical analyst and experienced fund manager. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.