XRP, the sixth-largest cryptocurrency by market capitalization, has remained steady around the $1 mark over the weekend, fueling anticipation among investors.
During this period, XRP surged to a three-year peak of $1.263, accompanied by record-breaking activity in the futures market. On Sunday, open interest in XRP derivatives climbed to $2 billion as investors placed bets on heightened price volatility. The surge in activity is attributed to growing optimism surrounding a potential easing of regulatory challenges.
The upcoming integration of Ripple’s RLUSD stablecoin and the euro-backed stablecoin from French bank Société Générale into the XRP Ledger could drive increased institutional adoption of the platform.
XRP Price Range: Will Bulls Break Through?
After a significant rally, XRP has settled into a range, fluctuating between $1 and $1.26 over the past three days. This consolidation has left the market speculating whether the bulls can push the price higher.
Currently, XRP is holding support at $1, with immediate resistance near $1.26. A breakout above or breakdown below these levels could set the stage for its next move.
Trading Volume Trends and Price Targets
XRP trading volume has dropped 52.2% in the past 24 hours to $9.4 billion, according to CoinMarketCap. A spike in volume could indicate renewed bullish interest. If XRP breaks above $1.26 on strong volume, it may aim for higher targets at $1.41 and $1.96, potentially signaling a new upward trend.
Conversely, failure to hold the $1 support level could lead to retests of lower levels, such as $0.95 and $0.82.
Current Performance and Outlook
At the time of writing, XRP had risen 5.33% over the past 24 hours to $1.14, with an impressive 96% weekly gain. However, whether XRP will sustain its momentum or remain range-bound depends on a combination of technical factors, market sentiment, and broader macroeconomic developments.
Investors are advised to monitor key resistance and support levels closely, as the next breakout or breakdown will likely determine XRP’s trajectory in the coming weeks.
