The XRP price (XRP) has gone up by 9.1% in the past 7 days as cryptos continue recovering from last week’s sharp pullback triggered by rising Middle East tensions.
Once again, the native asset of the Ripple network has returned to positive year-to-date gains, now up 4.8% since January.
Ripple has also doubled down on ecosystem expansion, with new initiatives focused on accelerating adoption of its stablecoin, Ripple USD (RLUSD).
As these efforts gain traction, the XRP price prediction has turned increasingly bullish — with some analysts eyeing a potential breakout in the coming weeks.
Data from DeFi Llama indicates that this token’s market cap has been expanding rapidly this year from $58 million to $455 million at the time of writing, making it the fastest-growing stablecoin.
The majority of RLUSD’s circulating supply is currently on the Ethereum network. In the past month, the token’s market cap in this network has jumped by 61%.
Since its launch, RLUSD has processed cumulative volumes of $10 billion since its launch as the token has been listed by multiple top exchanges like Kraken, Bitstamp, Bitget, and Gemini.
Growing adoption of RLUSD across the globe and on-chain favors a bullish XRP price action, especially if transaction volumes start to increase within the Ripple network as a result of its rising popularity.
XRP Price Prediction: XRP Could Retest the $2.33 Level as Cryptos Keep Recovering
Looking at the 4-hour chart for XRP, the price has successfully bounced off the 2.07 support and has already moved near the $2.2 level.
Geopolitical risks seem to have eased, or at least the market has embraced that perception, as Israel and Iran negotiated a cease-fire with the help of President Donald Trump.
Meanwhile, the Chairman of the U.S. Federal Reserve, Jerome Powell, confirmed this week that the institution still plans to cut rates twice this year despite the uncertainty caused by the administration’s aggressive trade policies.
This has improved XRP’s outlook in the near term and supports a push to its nearest resistance at 2.33. Momentum indicators are still in positive territory as the Relative Strength Index (RSI) sits above 50.
Although XRP may not get to $10 in the next few days, an expanding RLUSD market cap means that it could get there in the months to come.
The stablecoin’s success could skyrocket Ripple’s transaction volumes and create a new source of demand for the utility token.
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The post XRP Price Prediction – RLUSD Becomes the Fastest-Growing Stablecoin: XRP to $10 Next? appeared first on Cryptonews.
