Here's the latest news on XRP:
Market Performance
XRP has risen over 10% since Ripple launched the RLUSD stablecoin, with investors realizing nearly $1.5 billion in profits in the past 24 hours . The cryptocurrency is currently struggling near the $2.58 resistance level, but whales have been absorbing the selling pressure, indicating bullish sentiment.
Regulatory Developments
Ripple Labs has secured approval from the New York Department of Financial Services (NYDFS) for its RLUSD stablecoin, enhancing its compliance-first reputation and regulatory trustworthiness . This development positions Ripple to compete with Tether and Circle in the expanding stablecoin market.
Whale Activity
XRP whale holdings have increased by over 800 million XRP, worth nearly $2 billion, in the past two days, signaling strong confidence in XRP's long-term growth . Whale deposits into Binance have also surged, highlighting strategic XRP moves amid growing market interest in a potential $10 milestone.
Price Predictions
Crypto analysts predict XRP's growth trajectory will be similar to 2017's, with potential targets up to $14.90 . Another analyst forecasts XRP entering the third wave of a five-wave bullish cycle, expecting another 700% increase .
