XRP Price Prediction with Ripple Quantum Computing Research

General


Last
updated:

May
20,
2024
13:52
EDT

|
3
min
read

The
XRP
price
has
raised
0.29%
in
the
past
24
hours,
increasing
to
$0.51073.
This
comes
as
the
crypto
market
as
a
whole
has
experienced
a
decline.

XRP
is
now
up
2.29%
in
the
past
week,
indicating
a
continuation
of
XRP’s
monthly
1.60%
price
increase.

In
the
past
year,
the
altcoin
has
seen
a
modest
return
of
8.93%,
as
per
TradingView
data.

This
pales
in
comparison
to
the
returns
of
major
tokens
like
BTC,
ETH,
and
SOL
in
the
past
12
months.
However,
it
also
suggests
that
XRP
could
see
above-average
gains
later
in
the
year.

This
recent
price
action
follows
Ripple’s
backing
of
quantum-resistant
cryptographic
systems,
which
may
boost
future
XRP
price
action.

Can
XRP
Hold
Above
0.50?


XRP’s
chart
is
looking
promising
today,
with
the
coin
looking
ready
to
post
some
more
gains
after
dipping
a
little
overnight.

A chart showing XRP's price action and technical indicators. Source: Binance.

The
altcoin
is
approaching
a
retest
of
the
$0.5005
support
level
(yellow),
which
has
continued
to
hold
XRP
price
above
$0.50.

Breaking
through
this
level
decisively
could
lead
to
a
continued
decline
in
price.

Other
indicators
argue
against
this,
with
XRP’s
relative
strength
index
(RSI)
rebounding
towards
50,
up
from
a
low
of
25
earlier
this
morning.
This
suggests
that
the
recent
price
decline
was
temporary
and
does
not
signal
a
complete
shift
in
momentum.

Additionally,
the
altcoin’s
30-day
moving
average
(orange)
is
trending
downward
and
nearing
a
crossover
with
the
200-day
average
(blue),
having
dipped
below
it
earlier
in
the
day.
This
suggests
that
XRP
is
currently
oversold.

The
coin’s
24-hour
trading
volume
has
also
risen
in
recent
days,
with
its
move
up
76%
to
$827,803,541.
This
confirms
increased
interest
in
XRP
among
investors.

Several
factors
contribute
to
optimism
about
XRP’s
price,
including
the
broader
market’s
upward
trend
following
a
slowdown
in
March.

While
technical
indicators
suggest
positive
short-term
price
movements,
sustainable
long-term
growth
will
likely
hinge
on
fundamental
factors.

How
Does
Quantum
Computing
Research
Contribute?


Ripple’s
renewed
investment
in
the
research
and
development
of
quantum-resistant
cryptographic
systems
could
drive
future
price
action.

Professor
Massimiliano
Sala,
from
Ripple’s
University
Blockchain
Research
Initiative
(UBRI),
highlighted
quantum
challenges
in
blockchain
technologies
in
a
Ripple
Insight
article.

Professor
Sala
emphasizes
the
critical
vulnerabilities
that
quantum
computing
introduces
to
blockchain
security
in
its
potential
to
“undermine
the
mechanisms
that
protect
users’
assets
on
blockchain
platforms.”

Given
that
cryptography
forms
the
fundamental
backbone
of
blockchain
technology,
readiness
is
critical
in
the
developing
era
of
quantum
computing.
Sala
added:

[crypto-donation-box]

“While
quantum
threats
may
not
be
immediate,
their
probability
is
significant,
necessitating
proactive
measures.”

Ripple
is
pioneering
quantum-resistant
cryptographic
methods
through
research.
Success
could
strengthen
Ripple’s
XRP
Ledger
(XRPL),
providing
a
strategic
advantage
in
the
broader
industry
with
enhanced
platform
security.

This
advantage
might
increase
XRPL
adoption
for
future-proofing
operations
from
the
looming
quantum
threat,
benefiting
the
blockchain’s
native
token
XRP.


Cryptohopper

ADVERTISEMENT

Adoption
is
something
that
has
significantly
hindered
XRP
price
movement
since
2022.
The
long-running
Ripple-SEC
lawsuit
has
caused
regulatory
uncertainty
that
has
slowed
institutional
adoption.

However,
the
Ripple-SEC
case
is
now
in
the
final
settlement
phase.
Ripple
may
face
a
settlement
fine
as
high
as
$2
billion,
yet
the
upshot
of
such
a
penalty
is
that
it
will
draw
a
line
in
the
sand
and
enable
the
firm
to
continue
growing.

Coupled
with
a
strengthened
platform,
it
could
restore
confidence
in
Ripple
as
a
major
player
in
the
crypto
industry.

In
the
long
run,
this
points
to
a
rising
XRP
price,
which
could
reach
$1
by
the
close
of
2024.

While
XRP
is
set
to
perform
well
in
the
long
term,
some
traders
are
stacking
this
meme
coin
that
is
packed
with
potential.

High-Potential
Meme
Tokens
Could
Bring
Bigger
Gains


Indeed,
the
issue
with
XRP
is
that
because
it’s
a
coin
that
rests
more
on
fundamentals
than
hype,
it
may
take
a
while
to
enjoy
some
properly
big
returns.

However,
traders
looking
for
quicker
and
bigger
gains
may
do
well
to
investigate
some
of
the
newer
meme
tokens
that
are
currently
doing
the
rounds.

Sealana’s
presale
is
in
its
final
phase
and
will
be
ending
soon,
with
investors
having
rushed
to
buy
its
token
with
over
$2
million
raised
so
far.

This
quick
inflow
suggests
that
whales
are
already
diving
into
the
project.

Although
SEAL
is
built
on
Solana,
anyone
with
SOL,
ETH
or
BNB
in
their
wallets
can
purchase
it
now
at
a
presale
price
of
$0.022
per
token.

Sealana
is
at
the
forefront
of
a
new
wave
of
meme
coins
that
are
helping
the
Solana
network
challenge
Ethereum’s
dominance
as
the
go-to
blockchain
for
viral
meme
coins.

Sealana
comes
off
the
back
of
wildly
successful
predecessors
DogWifHat
($WIF),
Bonk
($BONK),
Book
of
Meme
($BOME)
and
Popcat
($POPCAT),
all
of
which
quickly
rose
to
become 
top
ten
meme
coins
by
market
capitalization.

Follow
the
latest
developments
on
Sealana’s

X
account.


Buy
Sealana
Here


Disclaimer:
Crypto
is
a
high-risk
asset
class.
This
article
is
provided
for
informational
purposes
and
does
not
constitute
investment
advice.
You
could
lose
all
of
your
capital.

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