A change of tactic was thus necessary to enable optimal reach. This move may allow Ripple to position itself as a conduit for the future of the global remittance industry.The ODL expansion means the Ripple network can now be used across most global regions. Ripple will likely continue expanding the network and this will translate to more utility. Things might kick into high gear in 2023 if theThe expanded use of Ripple’s ODL services is bound to boost network growth.
As expected, the weighted sentiment metric did register a sizable bounce in the last four days. This confirms that investors are shifting towards the bullish side. Similarly, Ripple’s market cap has recovered by roughly $2.1 billion so far this week.Do these observations point towards a possible XRP recovery in the next few months? Well, a look at XRP’s short-term price action reveals that its bottom range has been moving within an ascending support line.
This has been the case since June and the recent crash this month resulted in a retest of the same support line. XRP’s $0.37 price tag represents a 19% bounce from its $0.31 monthly low. The last time the price retested and bounced off the same resistance line, we witnessed a rally of more than 70%.
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