/PlutoChain/ – With the launch of RLUSD, a dollar-backed stablecoin, and a landmark legal victory against the SEC, Ripple is once again trending.
But can XRP hit $15 by March 2025 or is it an overly optimistic target right now?
We’ll talk about Ripple’s latest moves and the factors to see whether there’s potential for another record-breaking rally.
Also, we’ll take a look at PlutoChain ($PLUTO), a new Layer-2 solution and a potential game-changer for Bitcoin’s ecosystem that could help it expand its functionalities.
Let’s check out the deets.
As of January 3, 2025, XRP is trading at approximately $2.40, with an 11% increase over the past 24 hours.
XRP’s current support levels are around $2.60, showing potential zones where buyers might step in to prevent further declines.
On the resistance side, key levels are $1.70 and $1.75, which could act as barriers to upward movement.
Its RSI is currently at around 64, which means the asset is nearing overbought territory but still has some room for upward movement.
XRP’s market cap surpassed Tether, reaching $137 billion following a robust rally in early 2024.
XRP has surged more than 10% against Bitcoin, reaching 0.000025 BTC — its highest level in 18 months.
On December 17, 2024, Ripple introduced RLUSD, a U.S. dollar-backed stablecoin designed to increase liquidity and create a reliable trading pair in the ecosystem.
RLUSD is backed by U.S. dollar deposits, government bonds, and cash equivalents, which ensures its value remains stable. Right now, it’s available on platforms like Uphold, Bitso, MoonPay, Archax, and CoinMENA, but it is set to expand to more platforms soon.
This launch positioned Ripple as a strong competitor to established stablecoins such as Tether and USD Coin.
Ripple also achieved a significant legal win against the SEC in July 2023.
A U.S. District Court ruled that XRP is not a security, which brought clarity to Ripple’s operations and set a potential precedent for other digital assets in the US.
This ruling ended a lengthy legal dispute that began in 2020, where the SEC accused Ripple of conducting unregistered securities sales.
Following a remarkable 320% rally in November, the recent pullback has sparked speculation about the possibility of a second rally on the horizon.
Javon Marks predicts that XRP could reach $16.50 in its next phase and potentially achieve a massive gain of over 7,200%, leading to a price between $111 and $168.
He bases this on historical price cycles and suggests the current movement reflects the potential for a full bullish run.
For a while now, Bitcoin has struggled with challenges like network congestion, slow transaction speeds, and high fees. PlutoChain ($PLUTO) may tackle these problems with a Layer-2 solution designed to enhance Bitcoin’s performance.
The project could build a parallel network above Bitcoin’s main blockchain. This additional layer would reduce traffic on the mainnet, lower transaction costs, and improve scalability.
PlutoChain’s Layer-2 technology offers block time of just 2 seconds compared to Bitcoins traditional 10-minute block time.
This change could allow Bitcoin to handle smart contracts and more complex blockchain applications.
PlutoChain’s Ethereum Virtual Machine (EVM) compatibility stands out as a key feature as well. It could bridge Bitcoin and Ethereum, which may make it easier for developers to migrate projects.
It could also open doors for new opportunities in DeFi, NFTs, and AI-powered innovations.
Security remains a top priority for PlutoChain. Independent audits from SolidProof, QuillAudits, and Assure DeFi confirmed the platform’s robust infrastructure and the reliability of its smart contracts.
The PlutoChain testnet demonstrated its efficiency by processing 43,200 daily transactions, which shows it’s ready for real-world applications.
The platform also promotes community engagement through its governance system, which gives users a voice in decisions about updates, partnerships, and new features.
Ripple’s bold moves and XRP’s strong market performance have set the stage for an exciting year in crypto.
Meanwhile, PlutoChain could generate substantial buzz with its advanced approach to solving BTC’s scalability issues.
With its Layer-2 solution, EVM compatibility, and smart contracts, PlutoChain may be worth watching in 2025 to see how it develops.
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