XRP from Ripple is attracting significant attention this week as the long-awaited EVM sidechain has officially launched on the mainnet. This important update allows Ethereum-compatible Smart Contracts to operate directly on the XRP Ledger, creating opportunities for faster DApps, bridges, and e-wallets with lower costs. This is a significant advancement in the Ripple ecosystem, also causing investors and traders to closely monitor XRP price fluctuations. Currently, XRP is hovering around the 49,000 to 49,500 VND range, facing an important resistance area, with the prospect of a potential breakout being anticipated.
Current XRP trading situation
The price of XRP is fluctuating near the range of 49,000 to 49,500 VND, close to an important resistance area. In the past 12 hours, the price has at times surpassed the 49,000 VND threshold and has attempted to maintain above this level. Although there is not yet strong momentum, the technical chart shows that XRP is showing signs of setting up for the next move.
If buying pressure continues to keep the price above 49,500 VND, XRP could quickly rise to the 50,000 VND area. The next target will be within the range of 51,000–51,500 VND. Conversely, XRP has strong support around 48,000–47,500 VND, with a more solid support threshold near 43,500 VND if the market shows signs of deeper adjustments.
Signs of XRP price explosion
Analyst Casi Trades assesses that the breakout trend of XRP is occurring, just waiting for confirmation through whether the price can maintain the support level of 50,000 VND after the adjustment phase. If this threshold remains stable, it will demonstrate the true strength of the price surge.
Momentum indicators like RSI are still maintaining strength, showing no early signs of weakening. This means XRP has room to rise further in the market.
If the situation is favorable, the next targets for XRP are 53,000 VND and 59,500 VND, potentially even higher. The analyst emphasizes that if XRP maintains the 50,000 VND level, it will lay the foundation for a strong breakout that is being awaited.
The value and influence of the EVM sidechain with Ripple
The launch of the EVM sidechain on the mainnet plays a crucial role in Ripple's long-term development plan. This upgrade expands the interoperability of the XRP Ledger with the Ethereum ecosystem, allowing for the advantage of faster processing speeds and reduced transaction costs.
In addition, the EVM sidechain not only enhances performance for decentralized applications but also facilitates the development of new products such as cross-chain bridges, multi-platform e-wallets, and richer DApps, reinforcing XRP's position in the global cryptocurrency space.
Although it has not triggered an immediate price surge, the EVM sidechain event is an important stepping stone to enhance the credibility and attractiveness of the Ripple ecosystem, laying the groundwork for further advancements.
Source: https://tintucbitcoin.com/du-doan-gia-ripple-khi-xrp-evm-van-hanh/
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