Ripple’s dramatic entry into this space may bring some gains to XRP holders

ripple [XRP] It released a set of important updates about its ecosystem on October 18th. While XRP Society was still talking about the waves message About the sidechain launch, a new update has been announced about the Ripple Creators Fund.

The second round of awarding Ripple’s $250 million fund, which aims to boost the growth of NFT initiatives on the XRP Ledger (XRPL), has been revealed.

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Here AMBCryptos Ripple Price Prediction (XRP) For 2022-2023

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Ripple is trying to expand its reach to NFT

To help developers build NFTs and other XRPL tokenization projects, Ripple has created the $250 million Ripple Creator Fund. On October 18, Ripple open The other group of creators who will receive funding from the Ripple Creator Fund.

The money went to artists and developers who are working on real use cases for XRP in various fields. These included the games, the Metaverse, and the media and entertainment industry.

Ripple’s entry into the NFT market is significant, and in a related move, one of XRPLedger’s most notable projects is just most dangerous The trial version of the NFT Market. The release was also announced on October 18 and the said launch was to be initially distributed on the development network.

No uptrend but trend looks good

As shown in the chart below, XRP does not look very entertaining with the aforementioned development. At the time of writing, the price of XRP is down more than 2%. On the daily time frame, it is seen that it is trading around $0.45.

Source: TradingView

A continuous uptrend for XRP has also been visible on the trend line during the daily time period. Around $0.45 and $0.41, the support line was seen as under pressure. Additionally, the $0.51 and $0.56 price points showed resistance.

Using the price range tool, chart analysis shows that XRP lost more than 58% during the downtrend that started in April. However, from the start of the rally up to the current resistance level, it rose more than 65%.

There were two moving averages shown below the price: the 50-day (yellow line) and the 200-day (blue line) margin. If the yellow line crosses the blue line, then positive price activity can be expected.

As Ripple expands its services, XRP holders may soon reap the benefits of increased demand. Allowing NFT projects to vote on Ripple would broaden the network’s potential user base and usage. This is the kind of advancement that can increase the value of XRP and make its owners very happy.

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