-AD-
-AD-
HomeNewsChina’s Secret Moves Could Send XRP to the Moon: Here’s What You...

China’s Secret Moves Could Send XRP to the Moon: Here’s What You Need to Know!

- Advertisement -
  • China’s monetary policies could boost crypto liquidity, pushing XRP and Bitcoin toward new all-time highs soon.
  • XRP ETFs are expected to attract capital inflows, following the trend set by previous Bitcoin ETF approvals.

Recent developments in the cryptocurrency space have reignited discussions surrounding the significant role that China plays in global markets. XRP is no exception to this. With new policies from China and ongoing macroeconomic changes, the market is primed for shifts that may influence XRP’s price and its trading potential.

Macroeconomic Concerns and FBI Involvement

The current economic landscape is facing increased uncertainty, with both the United States and China at the center of attention. One of the major highlights is the FBI’s creation of its own cryptocurrency, NEX Fund AI, aimed at uncovering fraudulent market manipulation. 

The operation has already involved billions of dollars, targeting six companies and multiple individuals involved in illegal market activities. While some view this as necessary enforcement, others argue it could be seen as a federal overreach, benefiting large players like BlackRock, which continues to influence markets without much scrutiny, as we have reported on ETHNews.

XRP ETFs: A Positive Outlook Amid Market Turbulence

The recent wave of Exchange-Traded Fund (ETF) filings, including those from Bitwise and others, points to a potential surge in demand for XRP. Historically, the approval of Bitcoin ETFs, such as BlackRock’s, has driven up the asset’s value, and XRP may follow a similar trajectory. With the SEC case nearing its conclusion and the likelihood of XRP ETF approvals, there are strong indications that capital will flood into the XRP market. 

Currently, XRP is in an oversold position, making it an opportune time for investors to go long, especially as the price hovers around $0.52. Some traders are already opening long positions, anticipating gains of 5x to 10x in the near future.

China’s Economic Stimulus and Its Impact on Crypto

China, often considered the “final boss” in global economic trends, continues to shape the cryptocurrency market, despite crypto being banned within its borders. As China’s domestic demand struggles, the People’s Bank of China (PBOC) has introduced accommodative monetary policies aimed at boosting liquidity. 

Historically, there has been a correlation between China’s M1 money supply and Bitcoin’s price movements. With this in mind, many analysts believe that as China loosens its monetary policy, not only Bitcoin but also XRP could benefit from the increased liquidity. 

Furthermore, Southeast Asia, responsible for 70-80% of global crypto trading volume, will likely feel the ripple effects of China’s monetary policies, further supporting a bullish outlook for XRP.

With ETFs filing, China’s monetary policies, and ongoing macroeconomic factors at play, XRP could experience substantial growth in the coming months. For traders, this presents an opportunity to capitalize on potential price surges, while for the broader market, it underscores the growing influence of global events on digital assets.

The price analysis for XRP (Ripple) in October 2024 shows a mixed outlook, with a consolidation phase following recent volatility. XRP is currently trading between $0.54 and $0.56, after previously reaching a low of $0.50 and a high of $0.63.

XRPUSDT_2024-10-10_23-46-26

Technical indicators suggest some potential upward movement, as the MACD is signaling a possible bullish crossover, which could indicate increasing momentum in favor of buyers. Additionally, the RSI is in neutral territory, meaning XRP is not overbought and has room for potential gains​.

XRPUSDT_2024-10-10_23-48-28

Key resistance levels lie at $0.60 – $0.61, and breaking through this range could allow XRP to target $0.70 by the end of the month. However, broader market conditions, such as regulatory news and Ripple’s legal outcomes, will be crucial for determining whether XRP can sustain a bullish run​

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628
RELATED ARTICLES

LATEST ARTICLES