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The demand for XRP could increase if XRPL manages to take market share from Ethereum in the stablecoin space. Traders may have valued this potential, considering the agreement with BNY Mellon as a sign of growing institutional support.

XRP is aiming for a 20% increase

XRP has surpassed the neckline of an inverted head and shoulders pattern on the daily chart, indicating a bullish reversal setup.