What You Need to Know
- XRP holds steady above $2.34, with traders looking for a breakout up to $2.65.
- Analysts warn that if the breakout occurs, XRP could advance between $4 and $6.
- Ripple’s stablecoin RLUSD has exceeded a $500 million market cap, placing it among the top 20 globally.
XRP is currently positioned above a crucial support level at $2.34, with anticipation swirling around a breakout targeting $2.65 in the upcoming weeks.
A continued upward trend would break through the resistance that has held since December 2024, even amid decreasing retail interest.
XRP Trend
Key Points
- XRP remains advantageous above $2.34, while traders eye $2.65.
- If momentum persists, XRP could find itself near $4 to $6.
- Ripple’s RLUSD stablecoin is gaining traction, surpassing a $500 million valuation.
Analyst Insights
Arthur Azizov, the leader of B2 Ventures, commented that if XRP maintains its current levels, it is likely to move towards a new local peak of around $2.65. He highlighted that XRP has been under accumulation for an extended period, leading to a positive outlook. In a recent communication to CoinDesk, Azizov noted that a decisive breakout could lure the token towards the $4 to $6 range.
Technical analysts corroborate this view, identifying bullish signals such as a symmetrical triangle and bull flags, which support the potential for retesting the $2.60 to $2.65 mark. An overcoming of these levels could propel XRP towards multi-year highs.
Market Sentiment
Growing interest within XRP derivatives, coupled with tightening volatility indicators and reported whale movements, is influencing positive market sentiment.
In other developments, Ripple’s RLUSD exceeded a $500 million market cap just seven months post-launch, affirmed by custody services from BNY Mellon and integration with platforms like Transak and OpenPayd.
