XRP stays above $0.50 while Ripple backs research on new frontiers in blockchain technology

XRP holds steady above $0.50, trading at $0.5130 with a 0.70% increase on Monday. Technical analysis suggests potential further correction despite the short-term bullish outlook, with key resistance at $0.5310 and support at $0.50.

Ripple’s Quantum Computing Report
Ripple published research on the impact of quantum computing on blockchains, particularly the XRP Ledger, through its University Blockchain Research Initiative (UBRI).

SEC vs. Ripple Lawsuit
XRP holders await a ruling on the SEC lawsuit, focusing on a potential fine for alleged securities sales and an injunction on Ripple’s On-Demand Liquidity (ODL) platform.

Market Sentiment and Technical Indicators
Sentiment among XRP holders is positive, but longer timeframe charts show bearish indicators. The Moving Average Convergence Divergence (MACD) suggests a potential 9% price drop to $0.4665 before possible recovery.

Blockchain Gaming Growth
In 2024, Web3 gaming continues to attract investment, with notable developments on platforms like Immutable, supporting blockchain games and NFTs.

Source: fxstreet.com

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