On 28th September, Ripple, having announced its stablecoin launch in early September, minted its first stablecoins, which monikered RLUSD. The cross-border payments company minted 350,000 RLUSD in two sittings; the first transaction included 300,000 RLUSD, and the second transaction was 50,000 RLUSD.
On 30th September, a software developer from the XDC Foundation named Quincy Jones stated his support for the XRP token, implying that it could reach as high as $100,000 and, if luck has it, make the $1,000,000 mark.
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XRP Price Analysis:
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Long-term:
Monica Long, president of Ripple, said RLUSD is now listed on CoinGecko and would provide investors with more visibility and accessibility, adding a critical layer of confidence to the broader financial inclusivity goals of Ripple.
If the 1-hour MACD also returns to a bullish crossover, it could solidify a bull run. However, the possibility of Ripple reaching the $100,000 mark is highly unlikely in 2024, even if bullish momentum picks up. The price of XRP may easily hit $100,000, but that would be like expecting pigs to fly. The 1-hour MACD provides insights into the volatility of XRP, even though, from a broader perspective, XRP is enjoying a bullish sentiment. Investors should strategize their trades accordingly on the basis of DYOR-ing.