Cryptocurrency fintech company Ripple has won the FinTech Breakthrough Award for Best Cross-Border Payments Platform and Best DeFi Infrastructure Platform. The company took to X to announce the win and thanked the FinTech Awards for the recognition. Ripple’s win could be a boon for XRP, the token used by the company for its payments initiatives.
Also Read: Ripple CTO Says Gradual Appreciation May Lead Big XRP Gains
Will Ripple’s XRP rally after the company’s recent win?
The crypto market faced a significant correction in the last few days, following Bitcoin’s (BTC) plummet to sub-$64k levels. Ripple’s XRP token follows the current market trend, falling 5.3% in the daily charts, 16.2% in the weekly charts, and 9.8% in the 14-day charts. However, XRP is still up by 4% over the previous month and more than 52% since March 2023.
The latest market correction could be due to high inflation numbers in the US for February, which may push back the Federal Reserve’s plans for an interest rate cut. Moreover, investors may be booking profits, leading to a price plummet.
According to CoinCodex, Ripple’s XRP could rebound to $0.77 by Mar. 23, 2024, a rise of around 32.7% from current levels. However, the platform does not expect prices to hold at $0.77, predicting a correction soon after.
Also Read: Ripple XRP Price Prediction: Can It Hit $0.80 This Week?
Changelly anticipates Ripple’s XRP to rebound to $0.762191 by Mar. 21, 2024. However, the platform does not paint a bullish picture for the asset in April.
Nonetheless, BTC will undergo its next halving cycle in April, which may lead to a market rally. Many analysts consider halvings bullish as they reduce an asset’s supply. Moreover, if Ripple receives a favorable ruling from the high court in its ongoing lawsuit with the SEC (Securities and Exchange Commission), we may see another rally for XRP.