XRP (CRYPTO: XRP) continues attracting bullish sentiment, particularly in relation to its role in stablecoin payments, despite lackluster price action.
Trader Notes: Crypto chart analyst Ali Martinez marked $2 as the most critical support level for XRP.
Peter Brandt notes XRP is forming a classic head and houlders pattern, signaling a possible bearish setup.
The price is range-bound, with key levels to watch: above $3.00, it would be risky to remain short, while below $1.90, holding the asset may not be ideal.
He believes if the pattern plays out, the projected downside target is $1.07, emphasizing he has no vested interest in the price movement.
Statistics: Coinglass data shows XRP liquidations in the past 24 hours at $12.5 million, with long liquidations at $11.4 million. XRP Derivatives trading volume expanded 12.3% to $5.3 billion.
Community News: Ripple announced a new partnership to roll out crypto-enabled transactions into Africa.
The goal of their collaboration is to improve cross-border payments in Africa, leveraging Ripple's blockchain technology for fast, low-cost and overall more efficient payments thanks to RippleNet and XRP.
Chipper Cash will share with Ripple its user base which is five million, in almost a dozen countries across the African continent.
Interactive Brokers announced the addition of Solana, XRP, Cardano and Dogecoin to its crypto trading platform.
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