• Ripple price ascends after CEO Brad Garlinghouse vows to hire 100 new employees.
  • XRP price attempts to print a Morning Star candlestick pattern on the weekly chart.
  • Invalidation of the bullish thesis is a breach below last week’s low $0.28

Ripple price sees newfound interest amidst resurfaced Central Bank Digital Currency rumors.

XRP price is on the move

Ripple’s XRP price ascends after the company launches the official headquarters in Toronto with plans to hire 100 new employees. Theories that Ripple may become a pivotal technology for Central Bank Digital Currencies (CBDC) have long been assumed in the crypto space. Ripple themselves have taken to Twitter, hinting at the possibility.tm/xrp/6/25/22

@Ripple

Ripple price, as of Saturday, June 25, trades at $0.36. The digital remittance token has shown an influx in buying pressure on intra-hour time frames. If the technicals can sustain, the bulls will likely print a bullish Morning Star pattern which will be a favorable entry signal for long-term investors. As previously mentioned, a break above the psychological $0.40 barrier could trigger a buying frenzy in the coming weeks to propel the XRP price back to $0.51.

tm/xrp/6/25/22

XRP/USDT 1-Week Chart

With talks of Ripple becoming a CBDC integrative solution, and a sudden demand for new employees, the legendary rumor of Ripple becoming a one-world currency to replace the US dollar is starting to resurface on social media. 

tm/xrp/6/25/pt3

@Digitalassetbuy 

History has shown that Cryptocurrenies can be highly aroused in value solely from social media hype. The CBDC speculation (though unproven) could be enough to create a FOMO-style market environment for the Ripple price in the coming weeks. A $0.51 target is conservative, but a $1.00 target will be unsurprising if the one-world currency myth continues to kindle on social media.

Anyone looking to join the bullish speculation should keep the previous weekly low as their invalidation point at $0.28. If the bears can breach this barrier, a fall to $0.20 could occur, resulting in a 40% decrease from the current Ripple price.


 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Bitcoin price all but confirms a bearish breakout amid opposing on-chain metrics

Bitcoin price all but confirms a bearish breakout amid opposing on-chain metrics

Bitcoin price shows a confluence of bearish developments that suggests an incoming downtrend. This development could halt the bullish outlook seen in Ethereum and other related altcoins. Bitcoin price is in a classic Wyckoff Distribution Phase.

More Bitcoin news

Chainlink Price Prediction: The good, the bad and the ugly of this LINK top reversal pattern

Chainlink Price Prediction: The good, the bad and the ugly of this LINK top reversal pattern

Chainlink price shows an interesting setup that could result in a steep correction and an eventual undoing of the gains. While the former scenario is plausible, the latter is a worst-case outlook and has relatively less chance of manifesting.

More ChainLink news

Crypto Sleeping Giants: Enjin Coin Price - A 3000% rally by 2023

Crypto Sleeping Giants: Enjin Coin Price - A 3000% rally by 2023

Enjin coin price could become a crypto outperformer in the next bullrun. Key levels have been identified. The Enjin token, an Ethereum based gaming token witnessed a 14,000% rise between March 2020 lows at $0.03 and the 2021 highs at $4.85.

More Enjin Coin news

​​​​​​​​​​​​​​Got It! This Shiba Inu price trade worked out perfectly, here's what could happen next

​​​​​​​​​​​​​​Got It! This Shiba Inu price trade worked out perfectly, here's what could happen next

Shiba Inu price tags the intended $0.00001550 target. Shiba Inu price has recently rallied an impressive 35% in just one day. Throughout the summer, the outlook has been maintained at a short-term bullish stance with targets in the $0.00001400 -0.00001550 area.

More Shiba Inu news

Bitcoin: If bulls lose control here, BTC could revisit $21,000

Bitcoin: If bulls lose control here, BTC could revisit $21,000

Bitcoin price shows an interesting setup that could reveal its next move. On closer inspection,  its technicals support a bearish outlook for the leading crypto.  

Read full analysis

BTC

ETH

XRP