Zinger Key Points
- XRP’s price could see a temporary pullback ahead of a potential rally fueled by Ripple’s RLUSD stablecoin launch.
- Ripple Labs moved 380 million XRP to an unknown wallet just hours before the RLUSD launch, fuelling speculation.
With Ripple's regulatory approval to launch its RLUSD stablecoin, anticipation is mounting about the trajectory of XRP XRP/USD prices following the launch.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| XRP XRP/USD | $2.43 | $138.7 billion | +1.2% | +0.8% |
| Bitcoin BTC/USD | $101,633.16 | $2.01 trillion | +1.4% | +0.7% |
| Ethereum ETH/USD | $3,948.22 | $475.6 billion | +4.4% | +1.4% |
Trader Notes: Prominent crypto trader Crypto Bitlord sees XRP on the brink of a parabolic move, calling it "financially irresponsible" not to hold XRP at this stage.
Jacob Canfield highlighted that XRP has retraced to the impulse base and the 0.382 Fibonacci zone, a move he sees as aligning with bullish expectations.
Canfield opened a small long position during the recent sell-off and remains optimistic about a push toward higher levels.
CrediBULL Crypto emphasized XRP's strength, noting new local demand zones forming. Retests of these zones could provide strong long-entry opportunities, aligning with his favorable outlook on XRP's price action.
Taking a more cautious view, Ali Martinez, a crypto chart analyst, foresees a brief correction before a breakout above $2.46. Such a move could potentially drive XRP's price to $4. Martinez highlighted a bull flag pattern but cautioned about a TD Sequential sell signal on the 4-hour chart.
Statistics: Ripple Labs transferred 380 million XRP, worth $915.2 million, to an unknown wallet just hours ahead of the RLUSD launch, according to Whale Alert.
This transfer has sparked speculation about whether it signals an internal reallocation or a possible sell-off before the stablecoin goes live approved by the New York Department of Financial Services (NYDFS).
Community News: Ripple's RLUSD launch is viewed as a milestone, solidifying its position as a key player in the crypto space. This regulatory nod could drive both adoption and XRP's price performance.
Ripple CEO Brad Garlinghouse assured the community that official updates will come directly from Ripple.
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