Industry commentators are increasingly optimistic about a possible breakout of XRP after about two weeks of price fixation.
Industry commentators are increasingly optimistic about a possible breakout of #XRP after about two weeks of price fixation.
However, they emphasize that this expected reversal depends on the emergence of important news that will act as a catalyst. Renowned software engineer and #cryptocurrency influencer Vincent Van Kord supported this view in a recent tweet.
He emphasized that XRP is currently forming an ascending triangle on the daily chart.
Van Kord said that in the absence of significant news, XRP price movements will continue to reflect typical trends.
He noted that during such waiting periods, the market often trades sideways, and daily price fluctuations of 10%-20% are common. However, he emphasized that a decisive break above USD 2.90 is needed to strengthen the upward momentum, and
Van Kord warned that this decisive breakout is likely to be associated with the release of important news. Let's wait and see, he concluded, urging investors to be patient. XRP supporters, known as the "XRP Army, are expecting at least three key events that they believe will give XRP the momentum it needs. One of them is the launch of Ripple's stablecoin, RLUSD. Earlier this week, #Ripple announced that it had received approval from the New York Department of Financial Services (NYDFS) to list RLUSD, and CEO Brad Garlinghouse In addition to the launch of RLUSD, other positive developments loom on the horizon, including the possible approval of an exchange-traded fund (ETF) and the resolution of Ripple's ongoing legal issues.
the latter, however, is expected in 2025. With the upcoming launch of
RLUSD, XRP supporters are optimistic that this news will be a powerful catalyst for a new bull run.
XRP is currently trading at $ 2.38.
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