Expert Forecasts Ripple’s Launch of XRP Liquidity Pool on an Automated Market Maker (AMM)
Anders, a renowned crypto researcher, recently shared his predictions regarding Ripple’s upcoming introduction of a liquidity pool for XRP on an Automated Market Maker (AMM). He believes that Ripple will use its own USD stablecoin, rUSD, to enhance liquidity for both rUSD and XRP, which he sees as a perfect alignment with the integration of the Decentralized Exchange (DEX) with On-Demand Liquidity (ODL).
According to Anders, the timing for this move couldn’t be better, with Uphold facilitating ODL services in the US and rumors of a stablecoin bill gaining momentum in the country. Even if Ripple doesn’t actively contribute to the liquidity pool, Anders anticipates it becoming the most liquid pool purely due to people’s awareness and participation.
The crypto community eagerly awaited Ripple’s announcement regarding its entry into the stablecoin market. This news sparked a surge in XRP trading volumes, increasing by over 30% according to TradingView data. While Bitcoin and Ethereum dominate the headlines, stablecoins maintain their popularity due to their stability.
Ripple’s announcement had a significant impact on XRP’s market sentiment, reversing its downtrend and injecting much-needed optimism. Despite a monthly decline of over 7%, Ripple’s move could serve as a catalyst for XRP to overcome critical resistance levels and reclaim the $0.60 mark and potentially go even higher.
From a technical standpoint, XRP appears to be on the verge of a major breakthrough. Market analysts have their eyes on the $0.62 threshold, a crucial level that could trigger a bullish momentum for the asset. Further targets are set at $0.65 and $0.69, relying on the assumption of a bullish trajectory for XRP.
Currently priced around $0.58, XRP has experienced a 3.6% increase in the past 24 hours at the time of writing, marking the largest surge in two weeks. As Ripple continues with its plans, the potential integration of a liquidity pool for XRP on an AMM could be the key factor that solidifies its position in the upcoming bull run.