XRP’s sharp recovery to $3.12 following massive whale accumulation and regulatory wins signals potential for continued bullish momentum.
After dipping to $2.75 during a broader crypto market slump, XRP XRP $2.83 24h volatility: 0.6% Market cap: $168.40 B Vol. 24h: $6.98 B broke its 11-day streak above $3 on Monday, triggering renewed buying interest from whales. Large investors reportedly accumulated around 120 million XRP tokens during the price dip, as confirmed by the accumulation/distribution indicator.
The token has since surged to $3.12, marking a 14% recovery within 24 hours. XRP’s trading volume spiked by 50% during this period, signaling increased market engagement. According to CoinMarketCap, the cryptocurrency’s market capitalization now stands at over $179 billion, reflecting an 11% rise in just one day.
Ripple’s recent acquisition of money transmitter licenses in New York and Texas also likely contributed to the positive sentiment. These approvals allow Ripple to offer licensed cross-border payment services to banks and crypto firms using XRP and its recently launched RLUSD stablecoin.
Technical Indicators Suggest Further Rally for XRP
On the technical analysis front, several bullish indicators suggest that XRP’s rally may continue. The Bollinger Bands, which recently experienced a squeeze, are now expanding — typically signaling an imminent breakout.
Meanwhile, the Relative Strength Index (RSI) currently sits at 61, indicating a bullish momentum. This level suggests there’s room for further price appreciation before the market approaches overbought territory.
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Source: TradingView
Moreover, XRP recently bounced after touching the Fibonacci retracement 0.5 line and has since climbed back above the 0.786 level. If it breaks through the upper line, the rally could resume, with the next target projected at $4.26 based on the Fibonacci retracement 1.618 line.
In terms of support, XRP holds a strong level at $2.82.
Regulatory Milestones
In the long term, Ripple’s regulatory advancements are providing a foundation for future growth. After launching the RLUSD stablecoin in December with initial support on XRP Ledger and Ethereum, Ripple has now secured the critical money transmitter licenses from the New York State Department of Financial Services and Texas authorities.
The company confirmed that RLUSD would be integrated into Ripple Payments later this year, enhancing its cross-border payment solutions.
These developments come at a time when Ripple’s ongoing legal battle with the US Securities and Exchange Commission (SEC) remains in the spotlight. However, market optimism is growing as analysts speculate that Ripple may benefit from favorable regulatory shifts under a crypto-friendly Trump administration.
Given XRP’s 500% annual surge and strong technical positioning, the third-largest token remains one to watch.
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