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XRP is set for major moves as CryptoTradingFund (CTF) integrates Amazon rewards on the XRP Ledger. Bitcoin dominance tests key resistance and global liquidity is on the rise. XRP is primed for a breakout in similar historical patterns to 2017.
XRP Ledger Expands with Amazon Integration
This is huge news for XRP and the blockchain ecosystem as CryptoTradingFund (CTF) has onboarded Amazon as one of their vendors which is a huge milestone for blockchain-based rewards on the XRPL. The implications for the crypto moving further forward is bridging digital assets with mainstream retail and enhancing its use case as a rewards platform.
By merging this integration with the XRP Ledger, users can now get CTF tokens for purchases on Amazon, with transactional benefits provided by the efficiency of the Ledger. With Amazon becoming the first major retail partner in the CTF rewards ecosystem, it is a sign of what the CTF rewards ecosystem could look like as a place for blockchain technology to meet everyday consumer activity, bringing real-world value to the XRP Ledger.
Having XRP Ledger present in such successful implementations paves the way for additional vendors to join the ecosystem and provide real-world applications. It’s also worth noting that CTF has hinted that it will be launching an additional vendor on Nov. 2nd, which indicates that this Amazon partnership may only be the start of an XRP Ledger and Polygon-powered rewards network.
Price Poised for a Major Breakout
Bollinger Bands show that XRP is going to see the biggest move in price history. The monthly Bollinger Bands say it all. The range is really narrow right now.
It is very close to breaking out as it is at the apex. 2017 had the biggest breakout to all-time highs, and now again the same pattern is observed.
The bullish trend on XRP /USD has been developing since 2022, following higher highs and higher lows resulting in higher potential.
On the contrary, starting from August 2023, we have been in correction having lower lows and lower highs, but the XRP price started to create higher highs with higher lows again by June 2024. So long as the $0.50 range can hold on the weekly, a breakout could be on the horizon.
Rising Liquidity Boosts XRP as Bitcoin Dominance Hits Key Resistance
One thing to absolutely know is that global liquidity is going to be leveling up significantly in the remainder of this year and well into 2025. The Federal Reserve and several other central banks around the world changed their monetary policy.
This will increase liquidity in the system and by extension over time will make fiat currencies like the Dollar weaker. During this time you can invest in risk-on assets like XRP, as it is closely tied to global liquidity.
As global liquidity rises as we saw in 2017 and 2018 the XRP price experiences a massive bull run. This also happened in 2020-2021. Right now, we are at the very beginning of a huge price explosion.
Risk-on assets thrive on the increase of global liquidity. The critical 60% resistance is being tested by Bitcoin dominance. An explosive breakout could kick off after a rejection here.
Bitcoin price is in (white), and XRP price is in (blue). Bitcoin dominance is approaching this 60% resistance range. It is actually the golden ratio, and the most important resistance range for Bitcoin dominance which goes all the way back to 2018.