XRP news: The 4-point decline in Bitcoin price with the announcement of US CPI data created a downward feeling in the cryptocurrency market and dragged altcoins down. While assets such as Ethereum, Solana, Dogecoin, ADA, AVAX are losing value by more than 5 percent, there are also significant fluctuations in the price of XRP. Ripple's XRP lost 5 percent in value in the last 24 hours, falling from $ 0.64 to $ 0.60. With this retreat in the price of the altcoin, the statements about the stablecoin project that Ripple plans to launch further triggered speculation.

USD-backed stablecoin project on Ripple's XRPL network

Recently, Ripple announced in a statement that it would launch a dollar-backed stablecoin project on the XRPL network. Ripple CEO made this initiative by emphasizing that the stablecoin market is growing and gaining strategic importance. He also demonstrated his determination for the project by sharing his thoughts that the value of XRP will increase by entering this growing sector.

Current XRP price analysis

According to press time on Wednesday, April 10, the asset, which has lost 4.20 percent of its value in the last 24 hours, is traded at $ 0.60. The altcoin, which ranks 6th in terms of market volume, faced yellow pressure by decreasing 9.46 percent in transaction volume during the same period.

XRP technical chart / RSI and BB indicators Despite following a fluctuating course in the last week, the Relative Strength Index (RSI) of the altcoin, which lost some of its gains and lost its upward momentum, is in the 48 region, showing that the selling pressure is in the neutral zone in the short and medium-term forecast. In addition, since the 9 EMA value and the 20 EMA value, which shows the Exponential Moving Average value, are valued in an equal range, the trading pressure is seen to be equal.

Analyst BarriC explains key opportunities to buy XRP

Cryptocurrency analyst @B_arri_C, who made various analyzes on the X platform, announced important support levels for XRP. In his post, the analyst says that the cheapest XRP right now could be anywhere below $0.80 and underlines significant opportunities to buy this altcoin.

It indicates that important buying opportunities may arise between 1 and 3 dollars at the end of an expected bull run. He also stated that the altcoin will gain value between $10 and $15 in the next Bitcoin halving event (2028-29).

In his longer-term predictions from 2023 to 2033, he thinks that the altcoin will have a price range between $100 and $500.

As a result, the altcoin, which has an important position in the cryptocurrency market, is among the altcoins expected to rise in the next bull run with Ripple's growth plans. In addition to altcoins such as XRP, which offer different opportunities for investors, there are also projects such as Bitcoin Minetrix that should be followed before the upcoming halving event.

Bitcoin Minetrix offers safe and simple use with its cloud mining system as an alternative to traditional mining. It eliminates the risks of third-party fraud and provides every investor with the opportunity to make a profit through mining with its easy use.

Bitcoin Miner Ziyaret Et

BTCMTX, the native token of the project, enables passive and active earnings through staking. The price of the token, which can be purchased at affordable prices before it is listed, is $0.0146. Additionally, the project continues to grow, collecting $14,048,418 according to the most recent data.

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