The Bullish Month of XRP: A 23% Increase In Value Sparks The Question: 'Is It Still A Good Investment?'

The Bullish Month of XRP: A 23% Increase In Value Sparks The Question: ‘Is It Still A Good Investment?’

Updated: 10 June 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Ripple blockchain is the true meaning of tenacity and resilience. Despite a rough two years with the US SEC, the cross-border network seems almost out of the woods.

In a month when Bitcoin and Ethereum are losing their spark, Ripple’s $XRP has been the shining beacon and pumped over 24% in the last 30 days.

This significant turn in fortune has driven many investors to ask if $XRP is still a good long-term investment.

Meanwhile, crypto experts are also buying into another disruptive crypto project called DeeLance.

XRP Posts Well Over 24% In Past Month – A Resurgence on the Horizon?

The crypto market is still reeling from growing regulatory scrutiny from the US government. So far, Binance and Coinbase have been added to the Securities and Exchange Commission’s (SEC) legal blackbook.

Trading volume has plunged and driven the market cap to the lower ends of $1 trillion.

Bitcoin has struggled to break above $27,000 for a week, but $XRP has continued its bullish breakout.

At press time, the $XRP token is trading at $0.53, indicating an uptrend of 1.83%. The asset’s weekly performance is also in the green zone, with 5.23% growth experienced in the past seven days.

However, the real interest lies in the $ XRP’s monthly performance. The digital asset has posted 24.27% in the last 30 days, with the 90 days growth up by 44.09%.

Its six months performance stands at 37.9%, with its year-to-date (YTD) up 57.27%.

Turning to the technicals, $XRP is trading above its 50-day simple moving average (SMA) indicator price of $0.47. The token’s long-term 200-day SMA is also below the current price and stands at $0.42.

Turning to other indicators, $XRP’s relative strength index (RSI) is pushing toward the overbought region with an oscillator figure of 62.93. Also, its moving average convergence divergence (MACD) shows a strong buy signal.

$XRP’s swift pivot has been due to its ongoing legal tussle with the SEC, which is expected to conclude in the next couple of weeks.

So far, all indicators point to Ripple winning the case that $XRP is not a security. Recently, the US regulator has seen its request to seal the Hinman documents refused, indicating another court victory for the defendant.

Court victory for @Ripple as judge denies SEC motion to seal Hinman docs.

The future of the entire crypto world is in the hands of Judge Torres and it seems like she is pro #XRP! pic.twitter.com/PQkO2gA2OD

— JackTheRippler ©️ (@RippleXrpie) June 8, 2023

This has boosted investor sentiment around the cross-border asset, increasing buying pressure around it.

Also, its recent acquisition of Metaco seems to be pushing it in the right direction. According to a tweet, Metaco can offer digital asset custodial services for about 80% of the banking sector, which is a huge figure.

This will enable $XRP to enjoy more extensive use cases.

Massive Ripple via Metaco/ GFT Digital Asset Customers

Metaco and GFT can offer digital assets custody solution to an estimated 80% of the banking sector

Full list of Metaco GFT technology partners below #ripple #xrp #crypto #blockchain pic.twitter.com/h8Hq5SBU62

— The light shines in the darkness (@MatthewLINY) June 6, 2023

Nonetheless, a new crypto project, DeeLance, is also toeing the same path as the Ripple blockchain. This innovative project is looking to radicalize the freelance industry.

DeeLance: Ripple’s Disruptor Twin

Outliers have been distinguished by their ability to alter an ancient system of doing things. This is what Ripple did with the SWIFT-controlled cross-border payment network.

Using blockchain technology, Ripple enabled anyone to send remittances to anywhere in the world at breakneck speed for a fraction of the cost.

DeeLance is also changing the narrative by allowing freelancers to tap into a new smart way to work and earn.

The platform is a decentralized recruitment protocol that allows freelancers and employers to work seamlessly. One of its best features is that it is an all-encompassing blockchain protocol.

Hey DeeLancers!👨‍💻#DeeLance Metaverse is all about socialize, work and earn!

Build connections with other members in the Lobby Arena & conduct meetings for productive collaboration in the Metaverse Meeting Room🤝

Join $DLANCE #Presale!🚀https://t.co/XHnTqVzeWf #web3 #crypto pic.twitter.com/6IqS4Y9BVu

— DeeLance (@deelance_com) June 9, 2023

Instead of only focusing on permissionless working digital co-spaces, it infuses non-fungible token (NFT) digital collectible technology through its marketplace.

As a result, anyone can own digital avatars to represent their online persona in the metaverse landscape.

Additionally, the NFT marketplace functions as a tokenization hub which allows freelancers to directly control their digital works. This reduces the pilfering and use of their work without proper compensation.

DeeLance also breaks the payment barrier like Ripple and makes it possible for freelancers to earn using crypto.

Congratulations DeeLancers!👨‍💻

Just crossed the $1.3 Million milestone!🙌🎉

Let’s keep the momentum going! 🚀💪

Take advantage of the low price and get $DLANCE in the #Presale Stage 4 now! ⬇️⏳https://t.co/XHnTqVzMLN #Crypto #cryptocoin #Etherum #Deelance pic.twitter.com/IouXYE3yo0

— DeeLance (@deelance_com) June 9, 2023

The platform is powered by an ERC-20 token called $DLANCE. The crypto asset is currently in presale and has raised over $1.3 million in the last couple of weeks.

Early-bird investors can buy DeeLance at its current presale value of $0.038 before the next price hike.

Buy $DLANCE Now