Ripple places 250 million $ bet on the NFT market
Ripple places 250 million $ bet on the NFT market
has introduced a fund for NFTS with the aim of bringing more use to the XRP Ledger.
The central theses
- Ripple has launched a $ 250 million fund to explore new applications for NFTs.
- XRP rose by more than 7.5%.
- Another purchase pressure could help the asset to rise to USD 1.10.
Ripple’s Legal problems in the United States does not prevent the company from expanding its horizon in the crypto room. The distributed Ledger startup is now aiming to compete with a new dedicated fund in order to compete in the NFT market.
ripple starts an NFT fund of $ 250 million
Ripple jumps on the NFT train.
in a recently blog entry , the company based in San Francisco canceled the introduction of a $ 250 million fund for supporting the creation of the creation of Nfts on the XRP Ledger. Ripple’s Creator Fund focuses on encouraging creators, brands and marketplaces, exploring new applications for NFTs.
The distributed Ledger startup emphasized that "chunky user experiences, high transaction fees and [The] environmental impact" are some of the main factors that develop developers from dealing with NFTs. Ripple aims to "mitigate" these challenges by offering financial, joint marketing and technical support to those who want to participate in the emerging market.
The NFT marketplaces Mintnft and Mintable will be the first to integrate the XRP Ledger to improve the NFT experience for developers and creators.
The investors seem to have hurried in the news of buying XRP, and the price of the token rose shortly afterwards by more than 7.5% Ripple’s Creator Fund. The sudden upward impulse could help the asset to make further profits if he tries to break through a critical resistance mark.
XRP picks up key resistance
XRP may be ready. The latest upward pressure led to the fifth renewed test of the moving 200-day average on the daily chart. As a result, the movement weakened the critical resistance barrier.
A daily candlestick closure above the sliding 200-day average could help XRP to progress further. In this case, the sixth largest cryptocurrency after market capitalization would probably increase to test the sliding 50-day average at 1.10 USD.
Despite the optimistic view, the XRP presents, the movement also depends on the sliding 100-day average. He has been a stiff support in the past nine days and prevented a steep correction of the financial value. All signs of weakness that lead to a decline below the level of $ 0.88 could panic in investors and possibly lead to a sale that could drive XRP towards $ 0.80.