Does XRP's ascent to $3 begin? Here’s what the analysis reveals
#MarketRebound Does XRP's ascent to $3 begin? Here’s what the analysis reveals
The XRP coin is experiencing relative stability today around $2.32 after a slight increase from the previous close, and the market shows moderate buying momentum with a trading volume exceeding $2.8 billion, indicating increasing interest from institutional and individual traders. One of the main current catalysts is the anticipation of the SEC's report on the developments of the case with Ripple, expected to be issued on June 16. Any indications of a settlement could drive the coin to a strong rise, especially if accompanied by positive developments regarding the immediate ETF fund for XRP, which the markets currently expect a high probability of approval. This event represents a potential turning point that could push the price beyond $3 if confirmed. On the other hand, Ripple has launched strategic partnerships in Japan with a Web3 platform supported by JETRO, aimed at enhancing the use of the XRP Ledger in DeFi projects, adding a practical dimension and real value to the network. Technically, the price is observed to hold above an important support area near $2.20, continuously testing the resistance area at $2.30, where breaking through could pave the way to higher targets at $2.50 and then $2.80 in the short term. Technical indicators like the MACD and moving averages indicate an upward bias supported by buy signals and a relative increase in momentum. Significant activity has been noted among whales, with approximately 498 million XRP transferred from Ripple's wallets to private wallets, which may signal a repositioning or readiness for upcoming price movements. Overall, the strongest scenario currently leans towards positivity conditioned on the outcomes of upcoming events this week, notably the SEC report and the prospects of ETF support, as well as the continuation of practical partnerships with financial and tech institutions in Asia. Therefore, traders are advised to monitor the levels of $2.17 as a key support and any breakout above $2.35 as a confirming buy signal, adjusting entry and exit strategies based on immediate market developments.$XRP
