XRP has regained attention after a price surge to $2.77, with analysts anticipating more changes in the near future.
XRP Back in the Spotlight
XRP surged to $2.77, rising over 7% in the last 24 hours. The token briefly touched $2.96, its highest level in the past four months. Crypto analyst Edoardo Farina suggested a potential breakout could push XRP to $4+, hinting at a possible move beyond the 2018 all-time high of $3.84.
RLUSD Brings New Optimism
Adding to the excitement is Ripple's recent advancements with RLUSD, its stablecoin. Last week, Ripple appointed BNY Mellon as the official custodian for RLUSD reserves. The company is also working towards a national bank license and a Federal Reserve master account, potentially providing RLUSD a significant advantage in the regulated stablecoin market. RLUSD has crossed a market cap of $500 million, becoming the eighth-largest stablecoin.
ETF Developments and Whale Activity
XRP's rally is also fueled by ETF developments, with several futures-based XRP ETFs set to launch in July. Analysts note heightened activity among XRP whales, with the number of wallets holding over 1 million tokens increasing, indicating growing long-term confidence in the token.
Whether XRP hits $4 this week or not, the market remains attentive to its developments.
