The XRP price has declined by 2.5% in the past 24 hours, with its drop to $2.23 coming as the cryptocurrency market loses 4.5% today.
Despite this fall, XRP remains up by 6% in a week, after the Switzerland-based AMINA Bank became the first international lender to offer custody and trading services for Ripple’s RLUSD stablecoin.
XRP is also up by an impressive 400% in the past year, making it one of the best-performing top-100 coins within this timeframe.
And with XRP ETFs likely to gain approval later this year, the long-term XRP price prediction continues to look very encouraging.
XRP Price Prediction – Swiss Bank Embraces Ripple’s RLUSD – Billions Flowing into XRP?
This week has been a very good one for XRP and Ripple, with the latter also announcing that it has applied for a US bank charter.
In the past day, Zug-based AMINA has revealed that it has become the first bank in the world to support RLUSD, with the Swiss lender planning to expand its related services in the coming months.
On its own, this rollout is already impressive, but it follows over RLUSD expansion news in recent weeks, with the stablecoin also gaining regulatory approval from Dubai’s financial regulator.
This comes on top of prior approval from New York’s NYDFS, something which suggests that RLUSD has every chance of growing quickly and becoming one of the top stablecoins in crypto.
However, such news hasn’t had enough of an effect on the XRP price, which has fallen along with the wider crypto market, which in turn has responded negatively to President Donald Trump’s indication that he will begin notifying countries of higher tariff rates ahead of a deadline on Wednesday.
In such a context, XRP still looks relatively weak, but there have been signs that it may be close to rebounding.
Looking at its chart, we see that its relative strength index (yellow) and its MACD (orange, blue) have begun rising from oversold positions, a sign that buying momentum may be coming.
Source: TradingViewThe past couple of days have also witnessed some massive XRP transfers, with $500 million in the coin moving earlier this morning, perhaps as a prelude to some large over-the-counter trade.
Given this apparent increase in demand, we can expect the XRP price to return to $2.50 by the end of August, while more positive market conditions and continued Ripple growth could see it top $3.50 by the end of the year.
TOKEN6900 Raises $150,000 in New Presale: Is This the Next Viral Meme Coin?
For traders looking away from major tokens such as XRP, the market isn’t short of promising new alternatives.
Not only have new alts such as SPX6900, SEI and Pudgy Penguins stormed the market with their volatility in recent weeks, but there are several interesting presale coins doing the rounds right now.
One of these is TOKEN6900 (T6900), a new ERC-20 coin that has adopted the memes and stylings of the dot-com bubble, as part of its viral market campaign.
It launched its presale at the start of this week, and has already raised more than $150,000, which is a promising sign of its future growth.
TOKEN6900 is billing itself as a pure, unbridled meme coin, one which rests solely on community evangelism and contagious marketing.
It doesn’t promise any utility or fundamentals, and instead appeals to “The Collective Hallucination Of Terminally Online Traders,” as its website declares.
It’s therefore aiming to tap into the same perma-bullishness that SPX6900 and other meme coins have tapped into recently, with the coin’s launch potentially coinciding with a more bullish end to the year.
While TOKEN6900 has not utility, holders will be able to stake it for a passive income.
Investors can buy it now by going to the TOKEN6900 website, where T6900 costs $0.00645.
This will rise periodically as the sale progresses, so traders should act quickly if they want to lock in the biggest possible gains.
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