In a recent video, analyst JB discussed Ripple (XRP), its latest news, on-chain data, and charts. The video covered the following topics:
- Institutional investment: Ripple is attracting institutional investors from Dubai, despite the SEC case.
- Global expansion: Ripple is expanding globally, with a focus on the Middle East and North Africa.
- Dubai presence: Ripple opened new offices in Dubai to increase its presence in the region.
- Mina area: The Mina area in the Middle East has become essential for Ripple.
- XRP payments: XRP payments are gaining popularity, with companies accepting XRP for transactions.
- On-chain data: On-chain data for XRP shows steady growth in wallet counts, indicating increasing adoption.
- Liquidations: 1.2 million worth of XRP positions were liquidated in the last 24 hours.
- Technical analysis: The technical analysis suggests a potential bounce for XRP, followed by a further drop before an upward movement.
- Near-term outlook: The speaker believes there is a small upward push in the near future.
- Long-term outlook: If the market moves down, the speaker plans to go long on XRP and anticipate a potential push back up to around the 50 cent area. This expectation is for the next coming weeks.
