XRP holds $2 support as chart pattern hints at 73% gain

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XRP (XRP) stabilized near its $2 support after today’s marketwide sell-off sent the altcoin and several other cryptocurrencies close to their swing lows.

Data now shows the XRP/USD pair exhibiting early signs of a bullish breakout. 

Ripple’s RLUSD integration could boost XRP price

Ripple’s integration of its RLUSD stablecoin into its cross-border payments system, Ripple Payments, could significantly boost XRP’s price by enhancing its utility and liquidity. 

On April 2, Ripple, the company behind XRP, announced that it had integrated its stablecoin into the company’s cross-border payments system to boost adoption for Ripple USD (RLUSD).

RLUSD, a USD-pegged stablecoin launched in December 2024, complements XRP by providing stability for transactions, while XRP serves as a fast, liquid bridge currency. This dual-asset strategy targets the $230 billion cross-border payments market, and ims to increase demand for both assets. 

Source: X / Ripple

RLUSD’s market cap now stands at $244 million, with 87% growth in March alone, according to data from rwa.xyz. As adoption grows, financial institutions using Ripple Payments may rely more on XRP for liquidity, especially in volatile corridors. 

Pairing RLUSD with XRP on the XRP Ledger (XRPL) and exchanges could drive trading volume and activity on XRPL’s decentralized exchange, tightening XRP’s supply. 

Positive sentiment from RLUSD’s success could also lift XRP’s value, with analysts suggesting increased adoption might push XRP toward $3.50 or higher.

“Ripple’s $RLUSD integration is a pivotal move for cross-border payments,” said crypto market insights provider Alva in an April 3 post on X.

As a result, “optimism around $RLUSD soaring, with eyes on its ripple effect on XRP,” Alva said, adding:

“Overall: A solid play for strengthening Ripple’s ecosystem and pushing stablecoin adoption forward. Get ready for potential shifts!”

Related:  How many US dollars does XRP transfer per day?

XRP pattern points to $3.51 target

XRP’s price action between Jan. 16 and April 3 has led to the formation of a symmetrical triangle pattern on the daily chart. The price is retesting the lower trendline of the triangle at $1.98, suggesting that a rebound could be in the making.

Note that the price has successfully rebounded from this trendline two to three times in the past, with each retest leading to a significant price recovery.

If a similar scenario plays out, XRP could recover from current levels and with good volumes, it may break above the triangle’s descending trendline at $2.40 (embraced by the 50-day SMA).

The target is set by the distance between the triangle’s lowest and highest points, which would bring XRP price to $3.51, an approximate 73% gain from the current price.

XRP/USD daily chart. Source: Cointelegraph/TradingView

Several analysts also share similar bullish outlooks for the altcoin, citing XRP’s adoption, chart technicals and the end of Ripple’s long-standing case with the SEC as the reasons. 

Citing a chart similar to the one shared above, XRP investor Steph Is Crypto said the price was “heavily compressing” before a massive breakout.

 “This breakout will create many new millionaires!”

Using Elliott Wave theory, crypto analyst Dark Defender shared an optimistic price prediction for XRP, saying that the token’s correction in the monthly timeframe “will be over within weeks.”

His targets remain between $5 and $18 in the medium and long term.

According to CasiTrades, the XRP’s relative strength index shows a bullish divergence on multiple timeframes and this signals a price bottom, and an upside target of $3.80.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.