#StripeStablecoinAccounts
XRP Shows Strength Amid Market Recovery, Analyst Eyes Significant Upside
Riding the wave of a broader crypto market recovery following the recent FOMC meeting, XRP's price is demonstrating notable strength, pushing towards the $2.20 mark. This upward movement is accompanied by a significant 80% surge in daily trading volumes, which have reached $4.35 billion. This uptick suggests a renewed and growing interest from traders in Ripple's cryptocurrency, especially as discussions around "Ripple reserves" are reportedly gaining more attention. If the overall positive sentiment in the crypto market continues, XRP could be well-positioned for further gains.
Adding a technical perspective, prominent crypto analyst Dark Defender has offered an updated outlook on XRP's potential price trajectory. In a recent analysis, Dark Defender suggested that XRP's corrective phase, which saw it dip to $2.13, has now concluded. The cryptocurrency is seen to be reversing its course upwards, a move that also helped it steer clear of a potential $60 million wave of liquidations.
Looking ahead, the analyst identifies immediate resistance levels for XRP at $2.222 and $2.36. Based on insights into what he describes as the 5th Monthly Wave’s core structure (broken into five sub-waves), Dark Defender projects an initial surge for XRP towards $3. 1 Beyond this, the analysis points to more ambitious short-term targets, with Wave 3 potentially reaching $4.4 and Wave 5 aiming for $6.3.
