XRP at $2.81 Sparks “Flush Before the Rush” Speculation

XRP sitting at approximately $2.81. There is some interest as a chart shared from @Ripplesinwales proposes a “flush before the rush” situation where the price dips slightly before breaking out. A candlestick chart illustrates how XRP’s price has consolidated significantly along two trendlines and includes some support and resistance levels. This type of arrangement for altcoins has previously resulted in major upside, and traders are waiting to see if XRP can keep the momentum.

Technical Analysis

Image from X Reference

On the technical side XRP has support around the $2.80 price. It has the resistance on the way up at the $3.00 mark. Should this wall be break, $3.50-$4.00 are the next short-term targets and some TradingView analyses even predict long-term price rallies toward $9.90 or even $20 in XYZ extreme bullish cases . Recent trading backs this view: CoinMarketCap indicates a 24 hour trading volume of $3.36 billion, which is a 34.45% increase and hints an increasing interest in the market.

Market Trends

General trends in crypto are affecting the sentiment around XRP. With the global cryptocurrency market cap reaching $4.04 trillion and Bitcoin currently stabilizing around the $112,000 mark, traders are beginning to rotate out into altcoins. The recent announcement of a new stablecoin by Ripple Labs, RLUSD, also contributed to the recent dynamism, with XRP increasing by 13% over last week. In the meantime movements of whales – over $150 million worth of XRP moved to exchanges in the last 24 hours – have also contributed to short term volatility.

On the fundamentals, XRP is still one of the most mature crypto assets, boasting a supply of 56.7 billion tokens, and a market cap of about $169 billion. It’s use as a cross border payments and settlement tool with transaction times of only 4 seconds seems to give it long term value. But still, “regulatory uncertainty is weighing”. The very public SEC lawsuit, which was largely won by Ripple in 2023 but still has some pending issues, could deter institutional appetite quickly should a new ruling go the other way.