The cryptocurrency market’s rally has stalled in the last few hours, with Bitcoin declining below $71,000 once again. Ether also risks dropping below $2,100 if the current market conditions persist. Ripple’s XRP failed to take out the $1.46 resistance once again and is now trading at $1.40 per coin. Momentum indicators remain mildly bearish, suggesting that XRP could see further selloff in the near term. Ripple tests RLUSD in MAS sandbox XRP’s poor performance comes despite Ripple getting onboarded to BLOOM, an initiative by the Monetary Authority of Singapore (MAS). The project, BLOOM (short for Borderless, Liquid, Open, Online, Multi-currency), is a sandbox designed to support settlement capabilities for tokenized liabilities and regulated stablecoins.
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