The pseudonymous cryptocurrency trader DonAlt, who predicted XRP's significant rally in November, suggests the token's price could double if it breaks out of its current range.
Analysis of XRP's Trading Range
DonAlt, a trader with over 600,000 followers on the X platform, has identified a trading range with support and resistance levels at around $2.20 and $2.60. The token's price has been within this range since early December after failing to reach $3.
Current Standing and Recent XRP Developments
As of the press time, XRP is trading at $2.47, having gained 2.6% in the past 24 hours. The Ripple-affiliated cryptocurrency has reclaimed the third spot on CoinMarkeCap, surpassing Tether (USDT).
Impact of RLUSD Cryptocurrency and Growth Prospects
The token is rallying ahead of the launch of Ripple's new RLUSD stablecoin. Despite a significant rally in November, DonAlt believes that XRP has potential for more growth if it can overcome the $2.60 resistance level. Interest in XRP ETFs could emerge as a powerful bullish catalyst for its further rise.
XRP is on the brink of a crucial price level that could dictate its future movement. Attention to the new stablecoin and potential ETFs may bolster this process.
