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The crypto market today has managed to upkeep its bullish momentum, with the global market cap increasing by 0.89% to reach a number of $3.5 trillion. Trading volume experienced a sharp spike of 18.58% to $275.6 billion. Amidst the current market sentiments, the Fear & Greed index currently sits at 73, signaling “Greed”.
As Ripple gears up for the launch of the RLUSD stablecoin, the XRP community is on high alert. Ahead of this key milestone, Ripple has issued an important warning.
A cryptocurrency trader turned $2,500 into $200,000 by leveraging 500x on XRP futures just before a 26% price gain following the NYDFS approval for Ripple stablecoin RLUSD.
It is likely that the $2.5-$2.7 zone would be a formidable short-term resistance for XRP.
TL;DR Ripple's RLUSD stablecoin has received approval from the New York Department of Financial Services, allowing it to be listed on major exchanges and partner platforms. Ripple has established strategic partnerships with several exchanges and market makers to facilitate the widespread adoption of RLUSD.
XRP bounced off the $2 level and has the potential to rally higher as bulls retake control. This comes as the Ripple community reacts positively to news that the Ripple USD (RLUSD) stablecoin is about to launch. Meanwhile, Dogecoin, which is above a key support area, and new crypto token iDEGEN are attracting investors.
Ripple (XRP) faces the risk of falling below $2 after a 12% decline in the past week. This potential drop is highlighted by technical indicators identified in recent XRP analysis, pointing to mounting bearish pressure.
With a strong bullish recovery, the XRP price has added 6.83% to its portfolio in 24 hours. Moreover, the Ripple token is trading at a discount of only 38.89% from its ATH of $3.84, which was recorded on 04th January 2018. Notably, it has surged over 300% in 30 days.
XRP price surges following RLUSD approval by New York regulators. Explore the latest XRP price analysis and key levels.
Ripple whales' decision to heavily accumulate the token amid a market dip has nabbed significant investor attention globally. On-chain data spotlighted by a top crypto analyst on Wednesday revealed that whales accumulated over 100 million XRP via exchanges as the market witnessed a crash recently.
XRP's recent price correction has sparked a frenzy among large-scale investors, with whales seizing the opportunity to accumulate massive amounts of the token.
As time winds down for the Senate Banking Committee to decide Crenshaw's future, the stakes are high.
The price of the native token of the XRP Ledger, XRP, has been outperforming the wider cryptocurrency market over the last 24-hour period, having risen by 4.7% at a time in which most digital assets are down over the same period. According to data from CryptoCompare, XRP is currently trading at $2.
XRP has surged significantly this month, driven by bullish momentum and widespread gains in the cryptocurrency market. Investor interest and positive sentiment have fueled this rally, positioning XRP as a standout performer.
The position was dangerously close to liquidation before XRP moved to the upside.
XRP has been on a remarkable journey in the cryptocurrency market since early November, when it ended a long period of sideways trading in the face of regulatory pressure and emerged into a staggering rally.
Technical analysts identify bullish patterns in XRP's price chart, projecting potential double-digit values for 2025 with targets ranging from $8.40 to $48.12.
The cryptocurrency market experienced a massive $1.56 billion liquidation event, with Ethereum leading the losses at $229 million, while XRP and Dogecoin saw double-digit percentage declines and Bitcoin limited its losses to 2%.
Peter Brandt, an almost legendary figure in trading, recently shared his thoughts on the role of different types of cryptocurrencies. He drew attention to utility tokens like XRP, XLM and Cardano (ADA), highlighting their focus on functionality rather than speculation.
Ripple's XRP token is up after the company secured final approval from the NYDFS to launch its Ripple USD (RLUSD) stablecoin.
XRP price has been consolidating in recent days below USD 2.60 and the a double-top pattern confirms bearishness. Is there a way back up?
XRP is today's top performer from the larger-cap alts.
A key indicator suggests a bullish long-term outlook for XRP and Dogecoin, despite a market-wide correction. This underappreciated indicator shows how old investment dollars are on average on a network and can reveal whether coins are growing more active or remaining inactive.
Ripple's RLUSD stablecoin has received the final NYDFS approval for compliant operations. Ripple partners with major exchanges and liquidity providers for launch.
