- XRP has stabilized near $2 support after a market-wide sell-off, showing early signs of a potential bullish breakout.
- Ripple‘s integration of RLUSD stablecoin into its cross-border payment system could boost XRP’s utility and price.
- Technical analysis suggests a symmetrical triangle pattern that could lead to a price target of $3.51, representing a 73% gain.
XRP has stabilized around the $2 support level following a broad cryptocurrency market sell-off that pushed the digital asset near its recent swing lows. Data analysis now indicates the XRP/USD trading pair is beginning to show early signs of a potential bullish breakout pattern.
The stability comes as Ripple, the company behind XRP, recently announced the integration of its RLUSD stablecoin into the Ripple Payments cross-border payment system on April 2. This integration aims to boost adoption for the USD-pegged stablecoin that was launched in December 2024.
RLUSD’s market capitalization has reached $244 million, with impressive growth of 87% in March alone, according to data from rwa.xyz. The stablecoin is designed to complement XRP by providing stability for transactions, while XRP serves as a fast, liquid bridge currency in the $230 billion cross-border payments market.
Crypto market insights provider Alva commented on X: "Ripple’s $RLUSD integration is a pivotal move for cross-border payments," adding "A solid play for strengthening Ripple’s ecosystem and pushing stablecoin adoption forward. Get ready for potential shifts!"
Technical Analysis Points to Potential Price Surge
XRP’s price action between January 16 and April 3 has formed a symmetrical triangle pattern on daily charts. The price is currently testing the triangle’s lower trendline at $1.98, a level that has previously served as a springboard for significant recoveries.
If history repeats, XRP could rebound and potentially break above the descending trendline at $2.40, which coincides with the 50-day Simple Moving Average. The measured move from this pattern suggests a price target of approximately $3.51, representing a 73% gain from current levels.
Several analysts share optimistic outlooks for XRP. XRP investor Steph Is Crypto noted that the price was "heavily compressing" before what could be a significant breakout, claiming, "This breakout will create many new millionaires!"
Additional Price Predictions
Using Elliott Wave theory, analyst Dark Defender predicted that XRP’s correction "will be over within weeks" with medium to long-term targets between $5 and $18. Meanwhile, CasiTrades pointed to XRP’s relative strength index showing bullish divergence across multiple timeframes, signaling a potential price bottom with an upside target of $3.80.
The growing adoption of RLUSD could further boost XRP’s value by increasing its utility and tightening supply, with some analysts suggesting the increased adoption might eventually push XRP toward $3.50 or higher.
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