Ripple’s XRP Price Has Shown Strong Recovery, Rising Above the Key Support Level at $200.00

XRP’s value continues to increase because investors show positive market signals following a major price drop during the previous month.

Ripple’s XRP price has shown strong recovery, rising above the key support level at $2.00. On Wednesday, XRP traded at $2.26, briefly reaching $2.31, marking a 10% increase.

XRP’s value continues to increase because investors show positive market signals following a major price drop during the previous month. XRP requires breaking through the major psychological barrier at $3.00 before it can progress to higher levels.

>>> XRP придбав широке використання, що разом із зростаючою ціною візовує вічний попит.

According to Sal Gilbertie from Teucrium, XRP is the most usable cryptocurrency due to its practical capabilities. The executive made his statements following the introduction of the first exchange-traded fund (ETF) linked to XRP. This strategic market development showcases the increasing belief in XRP’s ability to facilitate international money transfers.

“I think that’s the most usable cryptocurrency, and that’s what Teucrium tries to do; we try to bring usable products to the market,” Gilbertie remarked during an interview with interviewers.

However, XRP has to overcome specific technological hurdles to be classified as a top-tier cryptocurrency according to Teucrium ETFs.

At present, XRP maintains a position between its two fundamental moving averages of 20-days and 50-day. The XRP price rests at $2.06 value through the 20-day SMA, although the 50-day SMA acts as resistance.

If XRP manages to surpass the 50-day simple moving average that serves as resistance, it could rise to $2.47. Nonetheless, if the rally is rejected, XRP may pull back to $2.00 or test the 200-day SMA near $1.80.

Currently, XRP trading activity exists within a defined price range because its moving averages are approaching each other to create conditions for a substantial market shift.

Following the launch of the XRP ETF, Gilbertie maintained his positive stance toward both XRP cryptocurrency and its creator, Ripple.

During his analysis, Gilbertie discussed the recent acquisition of Hidden Road broker-dealer by Ripple. The action represents a significant move that combines traditional financial practices with decentralized financial solutions according to him.

This deal may help advance tokenization adoption through financial institutions.

In addition to these developments, recent statements from US President Trump have helped stabilize the market.

Trump declared that he would not dismiss Jerome Powell who leads the US Federal Reserve. The market saw this statement of no intention to remove Powell as an indication of stable Federal Reserve policy, thus driving investor confidence upward.