XRP continues to hold key support levels, as whale activity and new RLUSD initiatives bring hopes for growth.
XRP Price Trades Sideways
After establishing itself as a top performer in this bull cycle, XRP price has been moving sideways for the last week, trading within the $2.12-$2.32 range. Despite the lack of significant news stimulating price surges, the support above $2.10 remains strong, indicating buyer interest.
Whale Activity and XRP Growth Prospects
Santiment data indicates that whales have accumulated 40 million XRP over the last 24 hours, suggesting anticipation of a major price move. XRP has added 3.08% in the past 24 hours, pointing to a possible retest of the recent highs around $2.7. Main potential catalysts for XRP price include RLUSD stablecoin listings, XRP spot ETF approval, and progress in the Ripple vs SEC case.
RLUSD Listing on Bullish and Future Developments
On Tuesday, Bullish, an institutional crypto exchange, listed Ripple's anticipated stablecoin RLUSD for trading across seven pairs. RLUSD previously went live on Bitso, Independent Reserve, and Mercado Bitcoin. Currently, RLUSD is available in the Americas, Asia-Pacific, UK, and Middle East.
Analysis shows that both XRP and RLUSD continue to capture interest from both retail and institutional market participants. Future steps, including potential new listings and regulatory approvals, are key points that may influence the price movements of these assets.
