XRP has jumped above $ 2.30 as the excitement for the XRPFI launch grows, a newly decentralized financial platform that expands the Token Utility.
XRPFI, built by Flare Networks, will go live on April 29. It will introduce smart contract functionality to XRP (XRP), which ultimately enables holders to use, borrow, borrow and act within the Flare Ecosystem. For years, XRP users were usually limited to holding or trading their tokens, because the native ledger of XRP does not support smart contracts. This usually kept XRP out of the flowering Defi space.
The Flare solution uses a packed version called FXRP, with which XRP can connect to decentralized applications. This means that XRP holders can earn rewards, find new ways to grow their participations and gain access to a broader range of financial services, all without transferring their tokens to third parties.
XRPFI will make use of the decentralized Oracles of Flare to get real -time price data and current permit -free liquid institution, loans and trade through projects such as Doppler Finance, Strobe Protocol and Anodos Finance. It also uses the Flare fass system and offers a Trust-Geminimized Bridge for Non-Smart Contract Authorities without trusting centralized intermediaries.
Proshares added more fuel to the rally and announced that on April 30 it will roll out three XRP-Futures-listed funds. These new products, including Ultra XRP, Short XRP and Ultra Short XRP, will give levers and reverse ways to bet on XRPs price movements. This follows a quiet green light from the US Securities and Exchange Commission.
Looking at the graphs, XRP remains strong, but traders must remain alert. The relative strength index is around 62, which means that XRP is not overbought yet, but it comes close. If buyers remain active, the next resistance level to view is almost $ 2.40. A clean outbreak above that can send XRP to $ 2.55 and possibly higher.
On the other hand, there is support of around $ 2.20, with stronger support near $ 2.08. XRP can return to the $ 2.00 region if it falls under these levels. Shorter progressive averages and the advancing average convergence/divergence will continue to indicate for the time being, which indicates that bulls are still in charge.
