Traders on Polymarket are optimistic about XRP's ability to maintain support at $2.10, driven by institutional interest and the characteristics of the XRP Ledger.
Support at $2.10 for XRP
XRP traders are confident that the price will hold support at $2.10. According to Polymarket, the odds of closing above this level stand at 99%, a sharp increase of 49% in just 24 hours. Trading volume for this market option exceeded $157,000, indicating significant market interest. Since June 19, the odds started climbing from the 70% range to above 90%.
Institutional Interest and Its Impact
Institutional interest plays a crucial role in the confidence surrounding XRP's price. Everything Blockchain Inc. (EBZT) has unveiled a new $10 million crypto treasury plan that includes XRP. This marks EBZT as the first U.S. public equity firm to provide shareholders staking rewards from XRP. EBZT CEO Arthur Rozenberg highlighted how real money flows into blockchain networks empower financial structure.
Influence of XRP Ledger on Price Resilience
Currently, XRP is priced at $2.12, reflecting a 1% decrease over the past 24 hours. Its resilience is partly due to the significance of the XRP Ledger, known for its rapid settlements and low transaction costs. As more enterprises seek scalable blockchain solutions, XRP continues to attract attention. EBZT's inclusion of XRP highlights how technical fundamentals translate into capital flows.
Polymarket traders maintain a strong belief in XRP's ability to hold above $2.10, driven by institutional interest and the robust foundations of the XRP Ledger. However, the market should remain cautious of potential short-term corrections.
