- Ripple price recovered from recent price drop as thousands of applicants queued up for $250 million NFT creator fund.
- The payment giant has offered users XRP's tokenization benefits for their projects.
- Award winning artists and entrepreneurs interacted with Ripple's creator fund, fueling a bullish narrative among XRP holders.
Ripple price posted 6% gains overnight as the payment giant received over 4000 applications for its $250 million NFT creator fund. Analysts are bullish on Ripple price, predicting a rally in the altcoin.
Ripple price begins uptrend after hitting key milestone
Ripple price has posted nearly 10% gains over the past week. The payments giant revealed that nearly 4000 applicants have submitted their request to receive funds for their NFT projects.
The global NFT market hit $25 billion in 2021, Ripple has therefore partnered with NFT marketplaces to deliver a fast and cheaper experience for investors on these platforms.
The payment giant's partners integrate Ripple ledger to boost NFT marketplace experience for users.
Ripple's community of independent creators could kickstart their NFT projects using XRP Ledger's built-in fast and low cost infrastructure.
Monica Long, GM of RippleX was quoted as saying:
By way of our Creator Fund and strategic partners, we’re leading more creators into the tokenized future and bringing their NFT apps and use cases to life on the XRP Ledger.
The $250 million creator fund is committed to get creators started with NFTs. There is a built-in decentralised exchange that offers fast settlement and supports native NFTs.
Analysts have evaluated the Ripple price trend and revealed a bullish outlook on the altcoin. FXStreet analysts noted Kumo twists on Ripple's daily price chart.
Analysts argue that the setup and indicators predict a bearish move in Ripple price, however the thinning of the cloud and the change from red to green and back. The spots where the cloud is the thinnest indicate market moves in the altcoin's price trend. Analysts believe that Ripple price is ready to breakout to $1.