XRP (XRP) has gone up by 6.2% in the past week as market sentiment has improved significantly in a relatively short period and has managed to propel the price of the token to $2.3 for the first time in roughly a month.
The Fear and Greed Index recovered from a record low of 15 it booked a couple of weeks ago to 52 as of this morning, meaning that market participants are now less concerned about the state of the market.
This supports a bullish outlook for crypto assets including XRP and it has translated into multiple bullish breakouts above key moving averages.
Just a few days ago, Ripple announced that investors and traders will now be able to borrow Ripple USD (RLUSD) – the project’s new stablecoin – through the well-known AAVE protocol.
This is another important step from the blockchain company to fuel the adoption of its stablecoin to achieve its mission of becoming the leading decentralized payments platform.
Data from CoinMarketCap indicates that RLUSD’s market cap has expanded from around $60 million in early March to nearly $300 million at the time of writing, resulting in a 400% increase in just two months.
Higher demand for RLUSD means higher transaction volumes within the Ripple network and higher demand for XRP – the blockchain utility token.
Meanwhile, the price action for XRP recently showed that its latest Elliott Wave has now been completed.
XRP Could Keep Rallying to $2.5 in This Scenario
The hourly chart shows that the price has entered a stage of consolidation as it waits for further liquidity to trigger the next move.
A couple of scenarios emerge by using the latest Elliott Wave levels as a reference to identify key resistance and support areas to watch.
The bullish scenario would see the price breaking above the 5 wave, which sits at $2.2350 and triggering the beginning of a new Elliott wave that could propel XRP to $2.5 in the near term.
A brief pullback toward the $2.23 level would be expected following this bullish breakout. As long as that support holds, this bullish scenario would be intact.
After the first breakout, the price could retrace to the $2.3 resistance (now support) and then make its move to the $2.4 – $2.5 level as the first plausible target.
Meanwhile, a bearish scenario would see XRP dropping below the $2.12 support and dropping to around $2.03 – $2.06 in the near term.
The market structure is bullish at the moment as the price action is on an uptrend. Hence, the bullish scenario has the higher odds of both.
Momentum indicators have cooled in recent hours as the market enters a consolidation phase, with the upcoming U.S. session likely to inject the liquidity needed for a breakout — in either direction.
While traders await the next major move, top crypto presales like SUBBD are gaining steam, attracting fresh capital as overall sentiment shows signs of recovery.
SUBBD Raises More than $250K to Launch a Decentralized Content Distribution Platform
SUBBD (SUBBD) is positioning itself as a disruptive alternative to platforms like OnlyFans — offering creators more control, better earnings, and full ownership of their content through blockchain-based distribution.
The SUBBD token offers fans a way to access VIP content, early access to extra features, and discounts on subscriptions, among other perks. For creators, it allows them to vote on key governance decisions about the platform and access tools that help them monetize their AI-generated content.
The platform has already been embraced by thousands of influencers with a combined fan base of 250 million followers.
As SUBBD’s adoption accelerates, the demand for its utility token will too. At its discounted price of $0.05525, analysts coincide that its upside potential is huge as demand should skyrocket as the protocol becomes more and more popular among creators and fans.
To buy SUBBD, simply head to the SUBBD website and connect your wallet (e.g. Best Wallet). You can either swap USDT or ETH for this token or use a bank card to make your investment.
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