XRP Price Soars 12% To $2.68: What Is Going On With Ripple?

XRP XRP/USD has surged to $2.68, up 12% over the past 24 hours, as Ripple readies for today’s launch of its RLUSD stablecoin.

Trader Notes: Widely-followed trader Credibull Crypto announced his price targets on X, aiming for XRP to hit $20 to $30 in an unspecified time frame.

Veteran trader DonAlt shared a brief technical analysis, highlighting the range high around $2.65 as a critical threshold for XRP. If this breaks to the upside, the trader expects the price of XRP to “probably double again.”

Statistics: Analytics site Coinalyze shows open interest for XRP increasing over 20% in the past 24 hours, compared to increases between 3% and 4% for Bitcoin and Ethereum. XRP ranks fourth with $3.1 billion in open interest, indicating a surge in trader interest.

Community News: Chief Technical Officer David Schwartz expressed his optimism over the RLUSD launch in a post on X on Monday, saying that “countless opportunities” are waiting for developers that take advantage of the liquidity on the XRP Ledger.

In another post, Schwartz had cautioned overexcited investors that RLUSD is “not an opportunity to get rich,” pointing to the FOMO-driven nature of cryptocurrency investing.

Ripple had secured approval from the New York Department of Financial Services for RLUSD in the previous week.

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