Key Drivers Explain 20% XRP Rise Against Crypto Trend

XRP rose 6.7% in 24 hours despite a weak crypto market. After falling to $1.90 on December 10, the asset is back over $2.36, defying altcoin bearishness.


#1 Ripple's Stablecoin RLUSD Launching Soon

XRP's surge looks to be driven by Ripple's long-rumored stablecoin, RLUSD. Ripple CEO Brad Garlinghouse announced via X that RLUSD received crucial regulatory clearance yesterday. He said that NYDFS had granted final permission for RLUSD. Exchange and partner listings will be up shortly; Ripple will announce RLUSD first.

The XRP community is excited about RLUSD, which is under beta testing on Ethereum and the XRP Ledger (XRPL). Members believe the stablecoin will boost XRP's liquidity and usefulness, which may be driving speculative interest and "FOMO" (fear of missing out).

Strong XRP On-Chain Activity

XRP metrics are positive according to Santiment on-chain research. The business said “Mean Dollar Invested Age is flashing a bullish signal,” noting that younger coin age distributions generally lead rallies.

The Mean Age of Investment for XRP is 865 days (22% younger in 14 weeks), according to Santiment. Thus, XRP network activity is rising, with historically comparable trends not reversing until these important indicators do.

“This is one of the key indicators throughout each coin's lifespan that a bull market can and should continue. The 2017 and 2021 bull markets continued until assets' mean ages began moving ‘up’ again. If you're positive on market pricing in the medium and long term, short-term price volatility may be a source of optimism, Santiment says.

#3 Whales Buy Dip Given Bullish Technical Setup

Technically, XRP is quite positive on higher time periods. The daily chart shows XRP holding support above the April 2021 high at $1.96 and rising quickly to the 1.272 Fibonacci extension level around $2.42. A prolonged breach over $2.42 might boost bullishness.

#XRP #MajorAirdropWatch #BuyTheDipOrWait #BTCNextDirection? $XRP