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Simon Chandler
Author
Simon Chandler
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XRP has fallen by 2% in the past 24 hours, slipping back down to $2.23 as the cryptocurrency market as a whole drops by 3.5% today.
The alt has now lost 17% in a week and 29% in the last 30 days, as the $1.5 billion Bybit hack and US tariffs continue to suppress investor demand.
Yet XRP remains up by 300% in a year, and with Ripple unveiling a plan this week to bring institutional DeFi to the XRP Ledger, the altcoin could recover in price very soon.
XRP Ledger Unveils Institutional DeFi Plan – Will This Send XRP to New Highs?
XRP Ledger has bene pushing for more institutional volume for several years now, but this week saw it unveil upcoming features that will help make its service more attract to major financial service companies.
Existing institutional-grade products include its decentralized exchange and central limit order book, its automated market maker and clawback feature, as well as its price oracles and decentralized identifiers.
Yet Ripple is now planning to bring a suite of enhanced features aimed specifically at institutions, such as digital credentials for compliance, permission domains and DEXes, a new lending protocol, and a new multi-purpose token for tokenizing real-world assets.
Together, Ripple believes that such features will enhance XRP Ledger’s status “as a safe, secure, and scalable layer 1 for financial institutions looking to use blockchain in a regulated environment.”
The announcement of this roadmap hasn’t done too much to stem the losses following the Bybit hack, with XRP falling heavily this week along with most other coins.
Yet its chart suggests that it’s in a good position for a strong rebound, with its RSI rising back up to 50 in the past couple of hours.
XRP’s 30-period average (orange) has also bottomed and looks like it’s about to rise again, given that the coin’s current price has just about risen above it.
Its volume remains relatively elevated at $6 billion today, suggesting that there are enough investors eager to buy the dip.
This all suggests that XRP could return to $2.50 by Q2, while the approval of XRP ETFs could see it rising to $3 or beyond by H2.
New Altcoins Bring High-Return Potential
The underperformance of XRP and other major tokens in the past week may be a cause for concern for some traders, especially those seeking above-average returns over shorter timeframes.
Yet there are usually options during leaner periods, with presale tokens occasionally providing a simple way of making fairly quick returns.
One of the most promising presale coins right now is MIND of Pepe (MIND), an ERC-20 token that has raised $6.9 million in its snowballing ICO.
Coming as interest in crypto AI remains very high, MIND of Pepe is a decentralized autonomous agent that will provide traders with self-generated advice and analysis.
Its platform will process masses of social and market data to identify emerging trends, and it will use such trends to generate its own meme tokens.
Given the recent success of AI-generated coins such Fartcoin and Goateus Maximus (GOAT), its creations have the potential to really take off.
And given that you will need to hold MIND in order to access its advice, and to gain early access to its coins, demand for the new coin could rocket.
To join MIND’s presale, you can simply go to the MIND of Pepe website and connect a compatible wallet, such as MetaMask or Best Wallet.
Once there, you can buy MIND at its current price of $0.0034128, although you should act quickly, since this price will rise again in two days.
