• Sat. Feb 24th, 2024

XRP tops $0.35 after Ripple Lab’s partnership with Palau

  • The Republic of Palau is working with Ripple Labs to explore the creation of a national stablecoin.

  • XRP is up by more than 5% today and could rally higher soon.

  • The total cryptocurrency market cap stands above $813 billion.

Ripple Labs partners with the Republic of Palau

Cryptocurrency journalist Wu Blockchain, reported a few hours ago that the Republic of Palau is working with Ripple Labs to explore the possibility of creating a national stablecoin. 

Palau is set to issue ID cards to its digital residents in the form of NFTs on the BNB Chain. This latest cryptocurrency news saw XRP, the native token of the Ripple ecosystem, surge by more than 5% today. 

At press time, the price of Ripple stands at $0.3686. After surpassing the $0.35 resistance level, XRP could surge higher in the near term.

The total cryptocurrency market cap stands above $813 billion, up by less than 1% in the last 24 hours. The Bitcoin price is also up by less than 1% today and is now trading close to the $17k resistance level. 

Key levels to watch

The XRP/USD 4-hour chart has turned bullish as XRP has been performing well over the last 24 hours. The technical indicators show that XRP is the best performer amongst the top 10 cryptocurrencies by market cap.

The MACD line crossed into the positive zone a few hours ago, indicating that the bulls have taken control of the XRP market following the Palau partnership with Ripple Labs.

The 14-day RSI of 73 also shows that XRP could enter the overbought region if the rally continues.

With the bulls now in charge, XRP could surge past the first major resistance level at $0.3799 before the end of the day. With the support of the broader cryptocurrency market, XRP could trade above $0.411 for the first time since November. 

Where to buy XRP now

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in.

It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest.

eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.


Buy XRP with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in.

OKX takes customer security very seriously, they store almost all of their clients’ funds in cold storage, and the exchange is yet to be hacked.

On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.


Buy XRP with OKX today

The post XRP tops $0.35 after Ripple Lab’s partnership with Palau appeared first on CoinJournal.