Let's take a breath and talk numbers about one of the most accounted currencies, XRP. Whether you are a new or old investor in the market, this article is for you... because we will discuss the current situation, dive into technical analysis, and talk about the fundamentals.
Current status of XRP (at the time of writing)
The current price is about $2.41 with a change in the last 24 hours of approximately +2.8%. Over the past week: XRP rose by about +6.4%, which is a very important development after months of volatility. The market cap is approximately $141.3 billion and the daily trading volume is about $3.6 billion.
The currency is moving in an upward channel and I don't see strong resistance before the $2.65 level, and if it surpasses this point, we might easily see $3.
Technical analysis
A technical pattern formation contains a descending wedge pattern, which usually gives a signal for a positive reversal.
Current support is around $2.20. Resistance is around $2.65 – $2.85.
The RSI (Relative Strength Index) has not yet entered the overbought zone, around 61, which means there is still room for upward movement. The MACD is positive and has formed a bullish crossover. In short, XRP is ready for the second round of the rise... provided the market as a whole remains positive.
What is the story of XRP?
XRP is the native currency on the XRP Ledger (XRPL) and is used as an intermediary tool to transfer money between any two currencies in 3 – 5 seconds. Its total supply is 100 billion, but currently around 58 billion are circulating.
Ripple Company still holds about 4.49 billion XRP in wallets and around 38 billion locked in Escrow (timed guarantee)
XRP experiences a slight symbolic burn with each transaction, not like BNB which burns heavily, but there is a continuous slight reduction in supply.
News that recently moved XRP
Ripple and the SEC have finally reached a settlement of $50 million... after years of legal battles, which has led to peace of mind among investors.
The market was also influenced by positive signals from America's relations with Britain and China – which created a kind of general optimism.
In my opinion, from a marketing standpoint, XRP has one of the strongest brands in the crypto market, but the company has lagged in some marketing moves compared to competitors like Solana or Ethereum.
From an investment perspective, you don't have to expect it to reach $100 to consider it successful. On the contrary, if it works as a real conversion tool between banks and currencies even at $2 or $3, it would be one of the most successful projects.
The most important thing is to monitor the volume of actual usage and the extent of institutional adoption and Ripple's commitment to the burn plan and controlling the escrow.
Personal vision
If you are a long-term investor, you might start building a gradual position from now, especially if the price returns to hover around $2.20.
And if you are trading short-term, monitor the $2.65 level very closely; breaking above it will be an opportunity. Keep an eye on legal and political news, as XRP is very sensitive to any legal rumors.
