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XRP stayed relatively stable over the weekend, with prices holding firm around key support levels. However, the price has been moving sideways lately, with no strong movement in either direction. On the daily chart, XRP has been bouncing between support and resistance levels without making any big moves.
Right now, the key support zone for XRP is between $2.05 and $2.10, while the main resistance sits around $2.30 to $2.40. If XRP can break above this resistance, the next challenge will be at $2.60. On the other hand, if the price falls below $2.05, it could find support around $1.90 to $1.80.
In the short term, experts believe XRP is likely to continue trading sideways, as it lacks enough buying or selling pressure to push the price up or down in a big way. However, things could get more interesting in the long run.
Can XRP Price Hit $10?
One important update on the fundamental side is Ripple’s stablecoin, RLUSD. Since early June, the market cap of RLUSD has jumped from $310 million to $450 million — a big increase in just two weeks. This surge shows growing interest in stablecoins, and Ripple’s entry into this market could boost the overall demand and visibility for XRP in the long run. If stablecoin projects continue to gain attention, Ripple and XRP might benefit from the momentum too.
Some analysts have pointed out that XRP is slowly showing signs of bullish pressure. If this continues and gains strength, XRP has the potential to climb much higher. In fact, the long-term price target for XRP remains between $7.50 and $10, but it will need stronger momentum and positive market conditions to reach those levels.