$XRP Can today's rise hold?
Due to Ripple's announcement of the official launch of the RLUSD stablecoin, the price of XRP has risen today.
Will it break through the six-year high of $2.90 and the $3 mark?
This afternoon, I have been discussing the rise of XRP, which occurred after Ripple announced on December 16 that its RLUSD stablecoin would start trading globally on December 17.
Previously, RLUSD received listing approval from the New York Department of Financial Services (NYDFS) on December 10. RLUSD is pegged to the US dollar at a 1:1 ratio and will be launched on the XRPL and Ethereum blockchains, backed by cash reserves and US Treasury bonds. RLUSD will require XRP to pay transaction fees.
The bullish sentiment from this release may assist XRP's price in breaking through the resistance level of $2.90 and surpassing the $3.00 region.
Key resistance levels to watch on the upside are $2.80, the six-year high of $2.90, and the psychological level of $3.00. If the trading volume exceeds these resistance levels, it may accelerate the rise to the historical high of $3.48 and enter the price discovery phase, potentially breaking above $5.
I have been closely monitoring and analyzing these latest news developments, and I have positioned myself for short-term fluctuations in fresh goods. Let's communicate and focus on the main night events together!