Ripple To Surge 78% Amid Market-Wide Sell-Off?

by Morgan Hayze

After today's market-wide sell-off sent XRP and a number of other cryptocurrencies near their swing lows, the altcoin stabilized around its $2 support.

                                                                                               Source: CoinMarketCap 

The XRP/USD pair is currently showing early indications of a bullish breakout, according to data.

The price of XRP may rise as a result of Ripple's RLUSD integration.

By increasing its usefulness and liquidity, Ripple's incorporation of its RLUSD stablecoin into its cross-border payments platform, Ripple Payments, has the potential to dramatically raise the price of XRP.

To increase the uptake of Ripple USD (RLUSD), the company that created XRP, Ripple, announced on April 2 that it had incorporated its stablecoin into its cross-border payments system.

XRP is a quick, liquid bridge currency, and RLUSD, a USD-pegged stablecoin that was introduced in December 2024, makes transactions more stable. The goal of this dual-asset approach is to boost demand for both assets while focusing on the $230 billion cross-border payments market.

According to data from rwa.xyz, the market capitalization of RLUSD is currently $244 million, having grown by 87% in just March. Financial institutions that use Ripple Payments may depend more on XRP for liquidity as adoption increases, particularly in erratic corridors.

The supply of XRP may become more limited if RLUSD and XRP are paired on the XRP Ledger (XRPL) and exchanges. This could increase trading volume and activity on XRPL's decentralized exchange.

The success of RLUSD may also boost XRP's value, as analysts predict that greater adoption could drive XRP to $3.50 or above.

In an April 3 post on X, cryptocurrency market insights provider Alva stated that Ripple's $RLUSD integration is a crucial step for cross-border payments.

Consequently, Alva stated that "optimism around $RLUSD soaring, with eyes on its ripple effect on XRP."

A symmetrical triangle pattern has formed on the daily chart of XRP as a result of the price action between January 16 and April 3. A potential rebound is indicated by the price's retesting of the triangle's lower trendline at $1.98.

It should be noted that the price has previously recovered from this trendline two or three times, each time resulting in a sizable price increase.

If a similar situation materializes, XRP might bounce back from its current levels and, with strong volumes, surpass the descending trendline of the triangle at $2.40, which is supported by the 50-day SMA.

The distance between the triangle's lowest and highest points establishes the target, which would raise the price of XRP to $3.51.

Similar bullish views for the altcoin are also held by a number of analysts, who point to the adoption of XRP, chart technicals, and the resolution of Ripple's protracted legal dispute with the SEC as justifications.

XRP investor Steph Is Crypto claimed that the price was "heavily compressing" prior to a huge breakout, citing a chart that resembled the one above.

Crypto analyst Dark Defender made an optimistic price prediction for XRP using Elliott Wave theory, stating that the token's monthly correction "will be over within weeks."

In the medium and long run, his goals stay in the $5–$18 range.

CasiTrades claims that the relative strength index for XRP exhibits bullish divergence across a number of timeframes, indicating a price bottom and an upward target of $3.80.