XRP Price Slumps 3% As Ripple Unveils Ethereum Smart Contracts On XRP Ledger And Traders Flock To This GambleFi Crypto For 100X Potential
The XRP price plunged 3% in the last 24 hours to trade at $0.5755 as of 03:39 a.m. EST on trading volume that surged 34% to $1 billion. This comes as Ripple aims to add Ethereum-compatible smart contracts to its XRP Ledger. The Smart contracts will also play an important role in expanding its overall functionality to support more elaborate applications like decentralized exchanges. As a result, there may be vital implications for the XRP token, as its overall fundamentals will increase. Could this also have an impact on the XRP price? XRP Price Bound For A Bullish Trend Reversal For much of August, the token has struggled along with the cryptocurrency market. Since August 24, the XRP price has been on a downtrend, trading within the falling channel pattern, according to data from GeckoTerminal . The downtrend has resulted in the price of XRP falling back below both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the slight bearish stance. Moreover, the Rela...