XRP price on the cryptocurrency market shows recovery after a dip, rebounding from a key support level. Ripple is also actively expanding its services beyond the U.S.
XRP Price Recovery
Ripple's (XRP) price has recovered after bouncing from a critical support level at $2.64. This level is an important zone that includes the 0.618 Fibonacci level, the lower Bollinger Band, and the value area high. These indicators reinforce bullish sentiments in the market. Analysts suggest that XRP may continue to rise, aiming for an all-time high and the next Fibonacci extension level at $4.80.
Confirmation of Bullish Trend
The recovery of XRP from $2.64 confirms that the asset remains in a strong uptrend. The recent bounce adds another higher low to the pattern, supporting the view that the bullish trend is intact. This creates a solid foundation for the next stage of price action, with many expecting XRP to push towards the $4.80 target.
Ripple's Global Expansion
Ripple continues its global expansion by rolling out its stablecoin Ripple USD for institutional clients in Africa. This move not only increases Ripple's international presence but also underscores its commitment to enhancing its blockchain network and expanding services worldwide.
The rebound of XRP price from $2.64 indicates the potential for further gains. As long as support holds at this level, XRP is likely to maintain its bullish trend and could soon approach the $4.80 extension target, dependent on trading volume and demand.
