Ripple Activates Permissioned DEX Feature for Institutional Trading

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 11 hours ago

Should l Buy XRP?

Price Stability: Ripple (XRP) token traded at $1.4860 on Wednesday, maintaining a stable range over the past few days, yet significantly lower than the year-to-date high of $2.4160, indicating cautious market sentiment regarding its future trajectory.
Permissioned DEX Activation: Ripple activated its Permissioned decentralized exchange (DEX) feature today, a unique solution designed to allow companies in the financial services sector to participate in a controlled manner, thereby promoting institutional compliance requirements.
Enhanced Compliance Measures: Ripple has acquired a provisional banking charter in the United States and received several licenses in the UK and the European Union, indicating its commitment to strengthening compliance measures to foster partnerships with more institutions and enhance market trust.
Market Outlook Analysis: The XRP token formed a gravestone doji candlestick pattern in recent days, suggesting a potential bearish reversal signal, and currently trades below the 50-day and 100-day exponential moving averages, with market sentiment leaning bearish and an initial target set at the year-to-date low of $1.1215.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.963	1.152	1.292	1.482	1.621	1.811	1.951
Fibonacci	1.152	1.278	1.356	1.482	1.608	1.685	1.811

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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