Ripple [XRP] has dropped some major updates around its ecosystem as of October 18. While the XRP community was still buzzing about Ripple’s Announcement around launching a side chain, another update around Ripple creators fund was announced.
Second round beneficiaries of Ripple’s $250 million Creator Fund, which aims to foster the growth of NFT initiatives on the XRP Ledger (XRPL), were revealed.
Here are AMBCryptos Price Prediction for Ripple (XRP) for 2022-2023
Ripple Is Trying To Expand Its NFT Range
To help developers build NFTs and other XRPL tokenization projects, Ripple has created the $250 million Ripple Creator Fund. On October 18, Ripple revealed the second group of creators to receive funding from the Ripple Creator Fund.
The money went to artists and developers working to implement real-world use cases for XRP in various fields. These include gaming, the Metaverse, and the media and entertainment industry.
Ripple’s entry into the NFT market marks significance, and in a related move, one of the most prominent XRPLedger projects just announced the beta version of its NFT marketplace. The release was also announced for October 18, and the said launch would initially be deployed on the dev net.
THIS IS NOT A TEST🚨
Tonight, European time, our #NFTmarketplace will open its public beta on devnet. Since March, a lot of work has been done on this platform. We are still working on it and adding features.
We hope you will like it.
— onXRP.com (@onXRPdotcom) October 18, 2022
No uptrend but trend looks good
As can be seen from the chart below, XRP didn’t seem to be really amused by the developments mentioned above. At the time of going to press, the price of XRP had fallen more than 2%. In the daily time frame, it was noted to be trading around $0.45.
A continued upward trend for XRP was also visible on the trendline in the daily time period. Around $0.45 and $0.41, the support line was perceived as under pressure. In addition, the $0.51 and $0.56 price points showed resistance.
Using the price range tool, a chart analysis showed that XRP lost more than 58% during the downtrend that started in April. However, from the time the uptrend started to the current resistance level, it was up more than 65%.
Two moving averages were displayed below the price: the 50-day (yellow line) and the 200-day (blue line) Marginal. If the yellow line does cross the blue line, positive price activity can be expected.
As Ripple expands its services, XRP holders will soon be able to reap the benefits of increased demand. Giving NFT projects a voice on Ripple would expand the potential user base and use of the network. This is the kind of advancement that can increase the value of XRP and make its owners very happy.
This post Ripple’s dramatic entry into this space could bring some profit to XRP holders
was published first on https://ambcrypto.com/ripples-dramatic-entry-in-this-space-may-fetch-xrp-holders-some-profits/