Ripple Price Prediction: Short Upside Push Possible On Digital Pound Foundation Move

Summary:

Bullish Ripple price predictions are up as Ripple dives into the stablecoin space via its new partnership with the Digital Pound Foundation.

Are current Ripple price predictions valid even as Bitcoin pushes gradually to the 60K mark? The price picture on the daily chart seems to suggest so. On the fundamental side of things, Ripple has entered into a new partnership with the Digital Pound Foundation as one of the foundation members.

The Digital Pound Foundation is committed to designing a path for a central bank digital currency (CBDC) pegged to the British Pound. Head of Policy at Ripple Susan Friedman is to represent Ripple Lab’s interests in the Foundation.

This new partnership is the first foray of Ripple Labs into the stablecoin space. While the US Dollar
has several stablecoin derivatives, the British Pound does not. The Ripple price is up marginally by 0.39% and follows Wednesday’s gains of 2.42%.

Ripple Price Prediction

The current uptick comes from a bounce on the channel, which provides some room for Ripple price to push towards the next resistance target at 1.20141. An extension of this move that targets the channel’s upper edge also brings 1.32287 as the next resistance barrier. This barrier needs to give way if the 6 September high at 1.40778 is to enter the picture.

Conversely, a decline below the channel sets up a price push towards 0.92103. A continued decline in Ripple price targets 0.79861, with 0.72029 and 0.64612 lining up as additional targets to the south.