XRP has shown relative stability over the past weekend, maintaining its price around crucial support levels. Despite this steadiness, the cryptocurrency has been moving sideways recently without strong price action. The key support area for XRP is identified between $2.05 and $2.10, while resistance is observed around $2.30 to $2.40. If XRP breaks these resistance levels, the next significant hurdle appears to be at $2.60. Conversely, should XRP drop below $2.05, it may find support in the $1.90 to $1.80 range.
In the short term, experts expect XRP to trade sideways due to insufficient buying or selling pressure. But looking further ahead, recent developments in Ripple's stablecoin, RLUSD, could influence XRP's market presence. Since early June, RLUSD's market capitalization has surged from $310 million to $450 million in just two weeks, which indicates increased interest in stablecoins. Experts believe that such growth can enhance demand for XRP.
Some analysts are beginning to notice slight signs of bullish pressure for XRP. If this trend continues with increasing strength, XRP's long-term targets could reach between $7.50 and $10, contingent on the prevailing market conditions and momentum.
In the short term, experts expect XRP to trade sideways due to insufficient buying or selling pressure. But looking further ahead, recent developments in Ripple's stablecoin, RLUSD, could influence XRP's market presence. Since early June, RLUSD's market capitalization has surged from $310 million to $450 million in just two weeks, which indicates increased interest in stablecoins. Experts believe that such growth can enhance demand for XRP.
Some analysts are beginning to notice slight signs of bullish pressure for XRP. If this trend continues with increasing strength, XRP's long-term targets could reach between $7.50 and $10, contingent on the prevailing market conditions and momentum.
