- Ripple executives are expected to address key issues at Digital Asset Summit; XRP Gold Coast conference expected to influence holder sentiment.
- On-chain data shows a decline in XRP activity; price stability above $0.62 critical, with technical indicators suggesting potential volatility.
The chief executive officer of Ripple, Brad Garlinghouse, and Senior Vice President, Markus Infanger, are getting ready to deliver important talks at this Monday’s Digital Asset Summit in London.
With a special emphasis on the future of cryptocurrency legislation and payment systems, this conference offers an essential arena for conversations about digital currencies.
At 11:50 GMT, Garlinghouse will give a presentation titled “Why Crypto is Close to Regulatory Clarity,” which will provide an in-depth analysis of the evolving regulatory landscape surrounding cryptocurrencies.
At 14:40 GMT, Infanger will share his thoughts on cryptocurrency payments at a panel discussion that will examine the challenges and advancements in this important field.
We're proud to sponsor @Blockworks_ Digital Asset Summit in London, March 18-20. 🇬🇧
Ripple CEO @bgarlinghouse and SVP of RippleX, @mwak77, will be speaking at @BlockworksDAS!🎙️ https://t.co/uJ0JZYwWGM
— Ripple (@Ripple) March 18, 2024
XRP Gold Coast Conference: An Assembly of Proponents of XRP
The XRP Gold Coast conference, which is slated for March 22–24, is expected to bring together notable members of the XRP community, including lawyer John Deaton, a pro-XRP campaigner, and Bill Morgan, an advocate for cryptocurrencies.
It is anticipated that this event will dramatically change the attitude of XRP aficionados, who will now be more focused on strategic activities and price projections.
For the XRP community, the SEC’s opening brief regarding remedies against Ripple, which is due on March 22, is crucial. The legal actions have the potential to significantly impact XRP’s market share.
Recent on-chain data from Santiment shows a drop in the number of active addresses for XRP as well as in its exchange supply, which may indicate a decrease in market activity. This pattern and the price decline over the past month point to a cautious view for XRP.
%20[10.35.34,%2018%20Mar,%202024]-638463455715657475.png)
Price Patterns and Important Support Levels
On other hands, even though XRP just fell below the $0.60 mark, it has stabilized above $0.62. In the past, this price point and the $0.57 mark have been crucial in offering support. There is no clear direction for the price, and current technical studies, such as Awesome Oscillator and Relative Strength Index readings, point to imminent volatility.
The market is tense; a daily candlestick closure over $0.62 might push XRP closer to the March 11 peak of $0.74. If XRP is unable to maintain this level, it could return to the $0.57 support area, which would cause investors to remain cautious in the volatile cryptocurrency market.
As of this writing, XRP has dropped by 1.51% and 2.98% in the previous 24 and 7 days, respectively, to a low of $0.6034.
[mcrypto id=”12299″]