XRP Set to Skyrocket? SBI Partnership and Golden Cross Spark Bullish Hopes!”
The cryptocurrency market is buzzing with speculation around Ripple’s XRP. Despite a recent technical setback in the XRP Ledger (XRPL), key developments indicate a potential bullish surge. With a new strategic partnership in Japan and a strong technical indicator on the charts, could XRP be on the verge of a major breakout?
Uncertainty Sparks Market Concerns
Recently, the XRP Ledger experienced an unexpected outage, disrupting transactions for nearly an hour. This incident raised concerns among investors, as the XRPL positions itself as a reliable alternative for international payments. Ripple’s Chief Technology Officer, David Schwartz, admitted that the cause of the failure remains unclear, fueling skepticism within the crypto community.
Bitcoin maximalists quickly criticized the situation, with one user on X (formerly Twitter) sarcastically remarking, “Good thing banks don’t rely on XRP, or the financial system would be in flames.” However, Schwartz defended Ripple, reminding critics that even Bitcoin suffered an eight-hour blackout in 2010 without losing credibility.
XRP Supply Remains Fixed
A wave of misinformation recently surfaced, claiming Ripple could create an unlimited supply of XRP. The claim originated from Bitcoin advocate Pierre Rochard, who suggested that Ripple could bypass its 100-billion XRP cap and print new tokens at will.
However, this assertion was swiftly debunked by XRPL validators. Developer Vet clarified that the 100-billion token limit has been hardcoded since 2012 and is immutable—even Ripple itself cannot alter it. Additionally, each XRPL transaction burns a small fraction of XRP, meaning the total supply is gradually decreasing over time.
Schwartz dismissed the controversy, stating, “A fork doesn’t change the original. Otherwise, anyone could copy Bitcoin and claim it’s the real one.” The fear of uncontrolled XRP inflation turned out to be unfounded speculation.
SBI Remit and Shinsei Bank Boost XRP Adoption
While critics focus on the XRPL outage, Ripple continues to expand its influence. On January 31, SBI Remit and Shinsei Bank announced a groundbreaking partnership to enable real-time international remittances using XRP as a settlement currency. Yoshitaka Kitao, CEO of SBI Holdings, emphasized that the initiative would significantly reduce transaction costs and settlement times.
Additionally, Shinsei Bank is involved in Project Agora, a collaborative initiative led by the Bank for International Settlements (BIS) exploring digital currency tokenization. This could position XRP as a key player in the future of cross-border finance.
Is XRP Primed for a Rally to $22.40?
Technical analysts are eyeing a promising bullish signal for XRP—the emergence of a Golden Cross on the weekly chart. This pattern occurs when the 23-day moving average crosses above the 200-day moving average, historically signaling a strong uptrend.
If the pattern holds, XRP could experience a significant price surge, potentially reaching $22.40 in the coming months. However, as with any technical indicator, market sentiment and external factors will play crucial roles in determining the token’s trajectory.
A Defining Moment for XRP
Despite recent setbacks, XRP remains at the center of transformative developments. With Ripple expanding its global reach through strategic partnerships and technical indicators pointing toward a potential rally, XRP could be on the verge of a significant breakout.
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