Why XRP Should Rise Soon?

Ripple (XRP) has taken investors on a turbulent ride of highs and lows. No coin in the top 10 has lost more from its all-time high (ATH) than XRP, having dropped 86% from its peak of $3.40 in 2018. Still, Ripple has managed to hold its ground as one of the top 10 most valuable cryptocurrencies.

The question now arises why XRP is showing signs of an uptrend now? What makes this a favorable time for a potential rise?

The perfect conditions for XRP

Since 2021, Ripple’s price has been moving around a strong support zone of $0.2888, which has been tested multiple times as we can see in the chart below. This zone has proven to be a solid base that has prevented further declines.

Currently, Ripple is testing the crucial resistance at $0.6687. If XRP can break this barrier, the next target lies at $0.9594. This could lead to a significant rebound considering that XRP has been stuck in this pattern for five years, indicating great breakout potential.

Why Now Is the Era of XRP

Interest in this coin has never waned, as XRP Ledger (XRPL) remains a robust Layer-1 blockchain with one of the lowest transaction fees in the crypto market. Ripple’s ecosystem is growing steadily and recently launched a native stablecoin. These developments further strengthen Ripple’s appeal to crypto investors.

The ongoing legal battle with the US Securities and Exchange Commission (SEC) has been a stumbling block for years. Initially, the SEC sought a $2 billion fine, while Ripple argued that it should not exceed $10 million. They recently proposed a settlement of $102.6 million, suggesting that there is room for compromise. This has been one of the major hurdles for XRP.

Ripple is not only looking to the present, but is also building a revolutionary payment system on the XRP Ledger. This system aims to integrate with global Central Bank Digital Currencies (CBDCs), making transactions faster and more efficient worldwide. This ambitious vision explains why the price increase has been gradual. Realizing such a transformative project takes time, but promises great rewards.

All in all, we can conclude that XRP’s technological foundation, growing ecosystem, and potential legal victory make it an excellent opportunity for crypto enthusiasts.