• The Republic of Palau is working with Ripple Labs to discover the creation of a nationwide stablecoin.

• XRP is up by greater than 5% right this moment and will rally increased quickly.

• The entire cryptocurrency market cap stands above $813 billion.

Ripple Labs companions with the Republic of Palau

Cryptocurrency journalist Wu Blockchain, reported a number of hours in the past that the Republic of Palau is working with Ripple Labs to discover the potential for making a nationwide stablecoin. 

Palau President Surangel S. Whipps, Jr. mentioned the nation’s IT staff is working with Ripple Labs to discover making a “nationwide stablecoin.” As beforehand reported, Palau will difficulty ID playing cards to its digital residents within the type of NFTs on the BNB Chain. https://t.co/WM1k9DFZvJ

— Wu Blockchain (@WuBlockchain) December 26, 2022

Palau is about to difficulty ID playing cards to its digital residents within the type of NFTs on the BNB Chain. This newest cryptocurrency information noticed XRP, the native token of the Ripple ecosystem, surge by greater than 5% right this moment. 

At press time, the worth of Ripple stands at $0.3686. After surpassing the $0.35 resistance degree, XRP might surge increased within the close to time period.

The entire cryptocurrency market cap stands above $813 billion, up by lower than 1% within the final 24 hours. The Bitcoin worth can be up by lower than 1% right this moment and is now buying and selling near the $17k resistance degree. 

Key ranges to look at

The XRP/USD 4-hour chart has turned bullish as XRP has been performing effectively over the past 24 hours. The technical indicators present that XRP is the very best performer amongst the highest 10 cryptocurrencies by market cap.

The MACD line crossed into the constructive zone a number of hours in the past, indicating that the bulls have taken management of the XRP market following the Palau partnership with Ripple Labs.

The 14-day RSI of 73 additionally reveals that XRP might enter the overbought area if the rally continues.

With the bulls now in cost, XRP might surge previous the primary main resistance degree at $0.3799 earlier than the tip of the day. With the help of the broader cryptocurrency market, XRP might commerce above $0.411 for the primary time since November. 

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