Recent Price Trend and Key Breakthrough of $XRP

Breakthrough Resistance Level: XRP recently broke through the key resistance level of $2.36, with a daily increase of 3%, and trading volume surged by 15%, indicating bullish market sentiment. Technical analysis shows that if it holds above $2.36, the next target will be $2.50, and it may even challenge $3.00.

Short-term Volatility: On May 9, the price fell from $2.33 to $2.30 but then rebounded, showing intense competition between bulls and bears. The current support levels are around $2.20 and $2.07, with an RSI of 63, close to overbought but still with upward potential.

Fundamental Drivers

Regulatory Progress: Ripple reached a settlement with the SEC, paying a $50 million fine, unlocking $125 million in escrow funds, eliminating long-term regulatory uncertainty, and driving institutional capital inflow.

Institutional Collaboration: Nasdaq-listed company Wellgistics Health adopted XRP as a payment medium for healthcare, leveraging its low cost (<$0.0002) and fast settlement (3-5 seconds) advantages to promote industry adoption.

Product Dynamics: CME Group launched XRP futures contracts, and institutions like Franklin Templeton submitted XRP ETF applications, further attracting institutional investors.