Japan and South Korea Discuss Blockchain Collaboration, New Opportunities for Ripple
- Blockchain Collaboration Potential: Japan and South Korea are discussing blockchain-related cooperation, and although details remain undisclosed, this progress could significantly enhance XRP adoption in the region, strengthening Ripple's strategic position in East Asia.
- Regulatory Updates Favor Ripple: Upcoming regulations in Japan will allow Ripple Prime and Ripple Custody to operate within the compliance framework, simplifying the integration of Ripple services for financial institutions and enhancing Ripple's competitiveness in the Japanese market.
- Deepening Investment Plans: In mid-2024, Ripple allocated a portion of its one billion XRP program to the XRPL fund in Japan and Korea, with expected investments in the tens of millions to support new projects and partnerships, further driving regional adoption.
- Validator Activity Growth: Infinite Block and SBI VC Trade have become official validators in South Korea and Japan, respectively, enhancing the compliance and resilience of the XRP Ledger, laying a solid foundation for Ripple's market readiness in East Asia.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP) As of , XRP (XRP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
XRP (XRP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.517 | 0.817 | 1.154 | 1.454 | 1.792 | 2.092 | 2.429 |
| Fibonacci | 0.817 | 1.061 | 1.211 | 1.454 | 1.698 | 1.848 | 2.092 |
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