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The launch of RLUSD will favor XRP, if the stablecoin turns out to be successful.
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Taking profits is essential to avoid suffering possible price drops.
The XRP Cryptocurrency has emerged in the last month as a key contender to other digital assets. In its price rise it has left behind (in market capitalization) giants like USDT. At the moment, XRP is the third most valuable cryptocurrency on the market.
Now, XRP is aiming for a new all-time high in its valuation. Can it reach it in this bull cycle?
XRP’s trajectory since its inception has been a rollercoaster of ups and downs, much steeper than several other cryptocurrencies, but current analysis suggests that we are on the verge of a defining moment.
The historical XRP price chart reveals cyclical behavior, with two notable peaks, as can be seen in the image below:
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XRP price history chart. Source: TradingView.
The first of these peaks occurred at the end of 2017, where it reached its maximum of $3.31 and the second, in 2024 (which overshadows that of 2021).
This year, XRP has broken several resistance levelswith the $1.90 area becoming new support, indicating consolidation at higher levels.
Furthermore, technical indicators such as RSI are coming out of the overbought zone with the recent price correction, which enables XRP to go to new heights.
At a fundamental level, the launch of Ripple USD (RLUSD)Ripple’s new stablecoin, is a key catalyst. This development, as reported by CriptoNoticias, seeks to strengthen the usefulness and adoption of XRP, attracting more investors and users seeking stability in their transactions. Regulatory clarity, with Ripple close to a settlement or definitive victory in its litigation with the SEC, adds another layer of confidence.
All this leads to XRP has become the “prominent character” of this part of the cryptocurrency bull cycle. As such, it is in a privileged position to surpass its all-time high, supported by favorable technical analysis and fundamentals that show solidity.
Jacobo Maximiliano, trader and financial analyst who works for the Bitget exchange, commented:
«From a technical point of view, XRP has activated a bullish pattern very similar to that of ether (ETH) and Bitcoin (BTC). This would take it in different time ranges, first to $3.30 and then to $4.50. Then there would be a strong correction below $2. And later, it should surely rise to 7 zone dollars. “We will have to be very attentive to the possible execution of this bullish pattern, as we see in the graph.”
Jacobo Maximiliano, financial analyst.
It is possible that as the inauguration date of US President-elect Donald Trump approaches, the price of several cryptocurrencies (including XRP) will continue to rise. It should be remembered that Trump has promised favorable regulations for the industry.
Donald Trump seeks sympathy among cryptocurrency lovers. Source: YouTube/Donald Trump.
Likewise, it is essential to keep in mind that the bullish cycle will not last forever and – as has happened in previous years – it could stop sooner than many expect, for unforeseen reasons.
For this reason, It is useful to take profits to avoid unwanted losses. CriptoNoticias has prepared the tutorial «Binance-tradingview” target=”_blank” rel=”noreferrer noopener”>When to buy and sell XRP? 3 indicators on Binance can help you«, which may be useful for this purpose.
Disclaimer: The views and opinions expressed in this article belong to its author and do not necessarily reflect those of CriptoNoticias. The author’s opinion is for informational purposes and under no circumstances constitutes an investment recommendation or financial advice.
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