RLUSD stablecoin’s market cap soared 815% in 6 months, nearing the $1 billion milestone amid rising adoption.
XRP forms a bullish falling wedge pattern, signaling potential for a 70% price surge if resistance is broken and retested.
Regulatory momentum and Ripple’s banking ambitions position RLUSD as a growing player in institutional and traditional finance.
XRP has gained 9.6% year-to-date, now trading at $2.27 as of July 7. In the same period, the RLUSD stablecoin recorded a significant rise in market capitalization, jumping from $53 million in early January to $485 million. The eightfold growth renders RLUSD as one of the fastest-growing stablecoins in the crypto market over the year so far.
Regulatory developments in the United States could further support RLUSD’s growth. Lawmakers are scheduled to debate multiple crypto-related bills during the upcoming “Crypto Week,” including the GENIUS Act. This legislation is expected to benefit domestically issued stablecoins, potentially giving RLUSD a competitive advantage over global rivals such as USDT and USDC.
Ripple’s Banking Ambition Boosts Stablecoin Utility
Ripple has filed for a U.S. banking license, a move that could expand institutional use of the RLUSD token. Approval of the license may increase RLUSD's integration into mainstream financial systems and lift market demand. Swiss financial institution AMINA has also announced plans to support RLUSD, reinforcing the token’s momentum in the banking sector.
Source: TradingView
Chart analysis shows a falling wedge formation on the XRP daily chart, which typically signals a bullish breakout. The token appears close to breaking above this pattern's resistance. Provided that it validates this action and manages to retest the breakout point, XRP has a chance of reaching the price of up to the $4 mark, which is a 70% change from its current price.
Bullish Highlight provided by Market Momentum
Technical indicators are still providing support in the scenario of the bulls. The Chaikin Money Flow (CMF) indicates increased buying pressure, and the MACD has also generated a positive change, which indicates a better attitude towards the market. All these indicators imply that traders are positive towards short-term returns on XRP.
