XRP has been garnering attention with its recent price action and ongoing developments in the XRPL ecosystem, indicating great potential for investors.
The altcoin has been showing strong resilience following a significant rally, gaining increasing interest amid the upcoming launch of its RLUSD stablecoin.
“The stablecoin will significantly increase XRP adoption,” said Georgios Vlachos, co-founder of Axelar.
Discover the latest developments in the XRP ecosystem, the impact of the RLUSD stablecoin, and the positive price expectations that have emerged as XRP has surged post-correction.
XRP has been garnering a lot of attention over the past few weeks thanks to its strong performance and significant developments in the XRPL ecosystem, especially with the upcoming launch of the RLUSD stablecoin.
Pegged 1:1 to the US dollar, RLUSD will trade on the XRPL and Ethereum blockchains and will be backed by cash reserves and US Treasury bonds. RLUSD will receive trading fees in XRP.
It is stated that after receiving approval from the New York Department of Financial Services, the stablecoin can be widely used for transactions and savings, especially in developing economies. Axelar co-founder Georgios Vlachos noted that the adoption of XRP as a payment token will increase significantly in 2025. Axelar’s interoperability platform connects XRPL to 69 different blockchains, providing seamless integration.
Ripple’s chief technology officer David Schwartz warned investors about supply constraints and price fluctuations during the launch of RLUSD. Schwartz noted that the pre-launch offers that boosted the value of RLUSD did not reflect its true market value and were more about people getting their first RLUSD tokens. He also stated that the stablecoin would stabilize at a level close to $1 once supply and demand returned to normal.
Expectations of a crypto-friendly regulatory environment in the Trump era and the impending launch of RLUSD have fueled growth in XRP-related futures. On December 3, open interest (IO) reached record levels.
Open interest is a key indicator used by traders and analysts to assess market sentiment and predict future price movements. High open interest indicates that more money is entering the market, increasing the likelihood that the trend will continue.
XRP’s Big Bull Pennant Targets $15
The XRP/USD pair is expected to regain its current bullish momentum despite the price correction, which points to a classic technical formation called a “bullish pennant.”
The “bullish pennant” pattern occurs when price consolidates within a downtrend channel (flag) after a strong upward move, resulting in price increasing by an amount usually equal to the height of the flag.
The daily chart of XRP/USD is showing a bullish pennant pattern like the one above, meaning that XRP’s next target would be the height of the flag, around $15. This would represent a 520% increase from the current price.
