XRP Nears Key Resistance at $2.60 as Ripple RLUSD Stablecoin Approval Drives Demand

Ripple RLUSD Stablecoin Approval Fuels XRP Rally to Weekly Highs

As of this writing, XRP is trading at $2.58, up 24.98% over the past seven days and 9.07% over the past 24 hours, right before the Ripple USD (RLUSD) stablecoin goes on the network. The co-founders of Ripple Labs introduced XRP in 2012, although the company has made a point of emphasizing that it is not the token’s issuer. However, cryptocurrency traders are aware of the connection and often interpret positive news for Ripple Labs, such as the approval of its new stablecoin by New York regulators, as a sign that the price of XRP will rise.

XRP has the largest growth over the past week among the top 10 cryptos” with its growth significantly overtaking Bitcoin’s 10% gain over the same timespan. XRP has been consolidating in this bull flag for a while, but once it clears the $2.60 resistance, I think it’s off to the races, heading toward $4,

Founder of Obchakevich Research Alex Obchakevich

The market demand for XRP is reportedly being driven by Ripple’s planned introduction of its RLUSD stablecoin today, according to some analysts.

The launch of RLUSD will also play an important role, which will allow Ripple to consolidate its position in the market and continue its growth.

Obchakevich

Analysts Predict XRP Surge by Q1 2025 as ETF Launch and Demand Align

According to Jake Ostrovskis, principal of Wintermute’s over-the-counter trading desk, XRP has profited from being “known” in retail circles, while traders are front-running a possible ETF launch due to optimism around the new U.S. administration. New York asset manager WisdomTree was the most recent company to declare interest in launching an XRP spot ETF product, and these remarks come after the company filed in late November.

According to Adam O’Neill, chief marketing officer at Bitrue Exchange, XRP ETFs are also expected to occur in 2025. Therefore, by the end of Q1 at the latest, they expect this coin to reach a new all-time high. Because so many things are coming together, he noted, the platform anticipates a surge in demand for XRP through 2025. He emphasized how the company’s conflicts with authorities now seem to be behind it and that XRP will likely gain a lot from Trump’s pro-crypto government.

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