XRP resumed its bullish impulse after it exceeded its short price adjustment period below $3.
A sample of this is that Ripple’s cryptocurrency closes two consecutive daily candles with positive returns, indicating the potential formation of early bullish structures.
At the time of publication of this memo, the XRP price is $3.22. It’s below the 11% record high (ATH) $3.65observed in the following training view graph.
It is important to emphasize the fact that before continuing XRP has established support at the $3 level. This not only avoided deeper corrections, but also reflects the interest in purchasing by investors.
This rebound is supported by Ripple Labs’ strategic advancements in a variety of markets.
As Cryptonoticias reports, the company Brad Garlinghouse requested a national banking license in the United States. If the initiative is approved, we will have the Stablecoin Ripple USD (RLUSD) under the supervision of the Director General of Ramoneda (OCC), the entity regulating national banks. This increases confidence in a stable currency.
Additionally, Ripple advances in its actual regulatory adoption. On July 9, he announced his alliance with Ctrl Alt, which tokenizes Dubai real estate through the XRP ledger, and appointed Bny Mellon as manager of his Stablecoin.
For them, investors are close Possibility of approval of XRP Stock Citation Funds (ETFs). Companies such as Grayscale, Bitwise, 21shares and Coinshares have already filed requests before the U.S. Stock Exchange and the Securities Commission (SEC) to launch these products into the market.
If they receive the green light, XRP could gain greater visibility among institutional investors, leading to upward pressure on its prices.
For these reasons, some traders and analysts maintain their bullish perspective on XRP. Jacobo Maximiliano, a financial analyst linked to Exchange Bitget, predicts that cryptocurrency will reach $7 in the current upward cycle.
Adam Cochram, a cryptocurrency market specialist, believes XRP can rise to the $5 level.
