XRP continues to walk on thin ice since the critical support zone of $2.10 is under pressure.
Calling out this development market analyst Bit Guru noted, “XRP has been testing the $2.10 support level repeatedly, forming a potential descending structure with lower highs. Bears are gaining momentum as each bounce weakens, and a breakdown seems imminent if bulls fail to reclaim higher ground fast.”
Even though XRP has soared to $2.20, the fourth-largest cryptocurrency by market capitalization is not out of the woods yet.
This is because it has to surge higher to avoid a pullback below $2.10, which might trigger a quick drop toward the psychological price of $2.
XRP Steals the Show in Corporate Treasury Chats
Despite the shaky grounds that XRP is facing, this altcoin is gaining significant attention in corporate treasury discussions, thanks to its capability to transform liquidity management and cross-border payments.
For instance, Chinese AI mobility firm Webus International recently revealed that it was rolling out a $300 million XRP reserve to support real-time global payments.
Notably, this decision by Webus is anchored by the firm’s commitment to lower cross-border costs.
Furthermore, energy giant VivoPower inked a $121 million deal with BitGo to develop an XRP-focused treasury strategy to enhance its operational potential in the digital asset sector.
With an XRP exchange-traded fund (ETF) approval rate skyrocketing, institutional interest continues to gain steam as fingers remain crossed as to whether this will be the catalyst that will enable XRP to scale heights.
