XRP has jumped 6.2% over the past week, breaking above the $2.30 mark for the first time in a month as crypto sentiment shifts. The Fear & Greed Index, which plunged to a bleak 15 just weeks ago, has rebounded to 52—a sign that confidence is creeping back into the market. This renewed optimism has fueled bullish momentum for XRP, with the token now trading above critical technical levels.
Adding fuel to the fire, Ripple recently announced that its new stablecoin, Ripple USD (RLUSD), will soon be available for lending on the AAVE protocol. This strategic move aims to solidify Ripple’s position in decentralized finance and payments. RLUSD’s market cap has already skyrocketed from $60 million in March to around $300 million today, signaling growing investor interest.
Where Could XRP Go Next?
The hourly chart shows XRP consolidating as traders await the next catalyst. Applying Elliott Wave theory, analysts see two potential paths:
1. The Bullish Case : If XRP holds above $2.23 and breaks through its current consolidation, a fresh Elliott Wave cycle could propel it toward $2.50. A brief pullback to retest $2.30 (now acting as support) might precede a surge to the $2.40–$2.50 range.
2. The Bearish Scenario: A drop below $2.12 could trigger a slide toward $2.03–$2.06. However, the overall market structure remains tilted bullish, making this outcome less likely.
Momentum indicators have paused during consolidation, but volatility could spike as U.S. trading hours inject liquidity. Traders are eyeing whether XRP can capitalize on its recent gains or face a temporary retreat.
Why the Optimism?
The bullish setup gains credibility from Ripple’s aggressive push into DeFi with RLUSD and improving market sentiment. With prices reclaiming key moving averages and stablecoin adoption accelerating, the path of least resistance appears upward—for now.
Final Takeaway
All eyes are on the $2.23–$2.30 zone. A decisive breakout could ignite a rally toward $2.50, while a breakdown might test lower support. For traders, the next 24–48 hours could set the tone for XRP’s short-term trajectory. Buckle up!
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