XRP is making headlines again, recently rebounding above $2.20, which signifies a potential push toward the resistance level of $2.35. This upward movement is significantly influenced by VivoPower’s recent commitment of $100 million in XRP, adopted as part of its treasury reserves, signaling growing investor confidence in the token.
Relatively stable in its market surroundings, Ripple CEO Brad Garlinghouse put to rest rumors concerning a potential acquisition of Circle, which provided clarity in a time of speculation. Ripple, now in its eighth anniversary, has demonstrated a consistent focus on social initiatives, having actively deployed $200 million towards community-oriented projects.
The market cap for XRP has reached $131.85 billion, reflecting a 2.19% rise in the past 24 hours, with trading volumes spiking over 6% to $2.4 billion. This indicates increased market participation. In the 24-hour price range, XRP fluctuated between $2.19 and $2.28, showing resilience from recent local lows, prompting technical traders to observe as XRP retests key moving averages. On-chain data complements this positive sentiment; moderate inflows across exchanges suggest limited sell-side pressure. Moreover, wallets holding between 1 million to 10 million XRP show an uptick in holdings, implying a bullish outlook among larger investors.
Currently, XRP is priced at $2.24, reflecting a 2.35% daily increase. Following a dip to $2.1279, XRP now holds key support levels above $2.20. The 9-day simple moving average (SMA) is approximately $2.22, acting as critical support. Should XRP maintain its momentum, it may revisit resistance at around $2.3496. However, with the RSI positioned at 46.42, the short-term trend appears to remain neutral to slightly bearish. Notably, failure to sustain above $2.20 could lead to renewed selling pressure, dragging prices back to the $2.1279 support. Yet, a stable trend above this level could open the door for a stronger bullish movement as mid-June approaches.
Relatively stable in its market surroundings, Ripple CEO Brad Garlinghouse put to rest rumors concerning a potential acquisition of Circle, which provided clarity in a time of speculation. Ripple, now in its eighth anniversary, has demonstrated a consistent focus on social initiatives, having actively deployed $200 million towards community-oriented projects.
The market cap for XRP has reached $131.85 billion, reflecting a 2.19% rise in the past 24 hours, with trading volumes spiking over 6% to $2.4 billion. This indicates increased market participation. In the 24-hour price range, XRP fluctuated between $2.19 and $2.28, showing resilience from recent local lows, prompting technical traders to observe as XRP retests key moving averages. On-chain data complements this positive sentiment; moderate inflows across exchanges suggest limited sell-side pressure. Moreover, wallets holding between 1 million to 10 million XRP show an uptick in holdings, implying a bullish outlook among larger investors.
Currently, XRP is priced at $2.24, reflecting a 2.35% daily increase. Following a dip to $2.1279, XRP now holds key support levels above $2.20. The 9-day simple moving average (SMA) is approximately $2.22, acting as critical support. Should XRP maintain its momentum, it may revisit resistance at around $2.3496. However, with the RSI positioned at 46.42, the short-term trend appears to remain neutral to slightly bearish. Notably, failure to sustain above $2.20 could lead to renewed selling pressure, dragging prices back to the $2.1279 support. Yet, a stable trend above this level could open the door for a stronger bullish movement as mid-June approaches.
