•Republic of Palau is working with Ripple Labs to explore the possibility of developing a national stablecoin.
•XRP is currently trading sharply lower near the 0.3576 level, and a break below that level may further exert bearish pressure.
•Alternative coins like FightOut (FGHT) may offer investors better short-term investment opportunities.
The global crypto market has been in a state of stagnation for the past few weeks, with many coins struggling to remain above their respective supports and resistances. The XRP price prediction, in particular, remains bearish as it struggles to break above the $0.3715 level. Despite occasional setbacks like bankruptcies and arrests of some major players in the past, several governments have expressed interest in joining the crypto bandwagon and are actively exploring the possibility of developing a national stablecoin.
One such government is the Republic of Palau, who recently announced that its IT staff has been working with blockchain company Ripple Labs to explore the prospect of creating a national stablecoin. According to President Surangel S. Whipps Jr., the move is aimed at providing Palau citizens with access to financial services and providing them with a more secure way to save and transact.
This news has had an adverse effect on the XRP/USD pair, causing its price to fall. The XRP/USD is currently trading at $0.3560, with a bearish bias. Candle closings below the 0.3715 level have triggered a bearish movement, and a break below the 0.3560 level may cause the pair to drop towards the 0.3445 level.
Leading technical indicators such as MCD and RSI are trading in a bearish zone, indicating that the market is currently in a strong selling trend. Any bullish breakout of the 0.3715 level could potentially cause the ripple to rise towards the 0.3810 level.
With the market being in a state of stagnation, investors can seek out alternative coins with better short-term prospects. One such coin is FightOut (FGHT), a platform that functions similarly to a personal trainer. It aims to empower users to take control of their physical and mental health by offering them access to top health and fitness professionals, personalized nutrition plans, and lifestyle coaching.
FightOut (FGHT) is currently in the pre-sale stage, and investors can get in early to benefit from the coin’s potential for long-term growth. It is also worth noting that the coin is backed by a strong community of health and wellness professionals, which further increases its potential for success.
Overall, while the XRP price prediction remains bearish, alternative coins like FightOut (FGHT) may offer investors better short-term investment opportunities. It is important to do one’s own research before investing to ensure that the coin is backed by a strong community and has the potential for long-term growth.