The XRP price prediction has left market participants wondering if XRP will reach its January highs. Even with recent positive news from Ripple, more catalysts are needed for the coin to reverse its market direction.
Cryptocurrency commentators are now rallying behind Unilabs, with a whale from Hyperliquid (HYPE) reportedly betting big on the project's bullish trend. Let's find out why Unilabs is gaining traction in market circles.
XRP Price Prediction: Challenges and Key Resistance Ahead
The price prediction for XRP for this cycle suggests that the asset has struggled to find stability since it hit the $3 mark in January. While weak market trends have played a significant role in XRP's current price behavior, broader news from Ripple has also influenced its movement.
One piece of news contributing to the bearish price prediction for XRP is the SEC's silence following the recent verdict delivered by Judge Torres. This action has caused tension among XRP holders, as some liquidated their positions.
XRP is currently trading at $2.17 after losing most of its January gains. For now, the asset is facing resistance around $2.52 to $2.60, with buyers frequently entering at the support level of $2.12.
Ripple News Fuels XRP Optimism with Futures Launch and Lending Plans
Despite the challenges facing XRP, recent news from Ripple emerging from crypto circles has led to modest bullish optimism. As of June 13, the American cryptocurrency exchange Coinbase is set to introduce 24/7 trading access to XRP futures.
Another fresh piece of news from Ripple is the recent announcement of a Q3 launch of an institutional XRP lending platform by Ault Capital Group. Amid these recent developments, XRP's price prediction has shown optimistic on-chain signs.
Investors moved over 500 million XRP tokens on May 30, indicating increased on-chain activity. Additionally, the coin trades above its 200-day SMA, indicating a potential upward trend.
Still, other price prediction models show that bears remain in control in the short term.
But rising players like Unilabs continue to direct investors towards market gains by offering a low entry barrier and passive income models.
