XRP holds $2 support as chart pattern hints at 73% gain
XRP stabilized near $2 after a market sell-off, showing early signs of a bullish breakout. Ripple integrated its RLUSD stablecoin into its cross-border payments system, potentially boosting XRP's price by enhancing utility and liquidity. RLUSD, launched in December 2024, complements XRP by providing transaction stability, targeting the $230 billion cross-border payments market. RLUSD's market cap reached $244 million with significant growth in March. Analysts suggest that increased adoption could push XRP towards $3.50 or higher. A symmetrical triangle pattern on XRP's daily chart indicates a potential rebound from the $1.98 trendline, with a target of $3.51 representing a 73% gain. Analysts cite XRP's adoption and the resolution of Ripple's SEC case as bullish factors, with some predicting medium to long-term targets between $5 and $18. The relative strength index indicates a bullish divergence, suggesting a price bottom and an upside target of $3.80.
