XRP Price Forecast: Does the Ripple-Circle Deal Pave the Way to $1,000?

Ripple Labs is likely to include the stablecoin USDC in the XRP Ledger blockchain, granting access to a sector expected to grow from $248 billion currently to $2 trillion by 2030 according to Citigroup forecasts, which could significantly increase the transaction volume of the XRP Ledger, raising the burn rate and demand for XRP, thereby supporting the long-term growth of XRP's price due to deflationary pressure.

However, it is likely that the price movement in the near term will be influenced by the exit from the descending wedge pattern that has defined XRP's price direction for several months following a loss of momentum after the breakout. XRP's price is now re-testing the current support level that previously acted as a resistance level, and a drop below this level could invalidate any implications of this technical pattern.