XRP (XRP) Stabilized Near Its $2 Support After Today's Marketwide Sell-Off

Ripple's RLUSD integration could boost XRP price

XRPs (XRP) price has largely stabilized above its key $2 support despite today’s market-wide sell-off that sent several altcoins close to their swing lows.

Data now shows the XRP/USD pair exhibiting early signs of a bullish breakout, which could be boosted by Ripple’s integration of its RLUSD stablecoin into its cross-border payments system.

As reported by AM crypto news today, RLUSD’s market cap now stands at $244 million, with 87% growth in March alone, according to data from rwa.xyz.

RLUSD’s adoption could increase demand for both assets as it provides stability for transactions, while XRP serves as a fast, liquid bridge currency in a dual-asset strategy that targets the $230 billion cross-border payments market.

This integration aims to enhance the utility and liquidity of XRP, potentially pushing its price toward $3.50 or higher, as analysts suggest.

Optimism around $RLUSD soaring, with eyes on its ripple effect on XRP.

Earlier this week, Ripple announced the integration of its stablecoin into the company's cross-border payments system to boost adoption for Ripple USD (RLUSD).

Its goal is to provide stability for transactions, while XRP serves as a fast, liquid bridge currency in a dual-asset strategy that targets the $230 billion cross-border payments market and aims to increase demand for both assets.

Image: X / Ripple

Financial institutions using Ripple Payments may rely more on XRP for liquidity, especially in volatile corridors, as RLUSD’s adoption grows.

Pairing RLUSD with XRP on the XRP Ledger (XRPL) and exchanges could drive trading volume and activity on XRPL’s decentralized exchange, tightening XRP’s supply.

Positive sentiment from RLUSD’s success could also lift XRP’s value.

“Ripple's $RLUSD integration is a pivotal move for cross-border payments,” said crypto market insights provider Alva in an April 3 post on X.

As a result, “optimism around $RLUSD soaring, with eyes on its ripple effect on XRP,” Alva said, adding:

"Anticipation is high for how this tandem approach will influence the broader market.”

Analysts suggest that increased adoption might push XRP toward $3.50 or higher.

Related: How many US dollars does XRP transfer per day?

XRP pattern indicates potential 73% gain toward $3.51

XRP’s price action between Jan. 16 and April 3 has led to the formation of a symmetrical triangle pattern on the daily chart. The price is currently retesting the lower trendline of the triangle at $1.98, suggesting that a rebound could be in the making.

It’s worth noting that the price has successfully rebounded from this trendline two to three times in the past, with each retest leading to a significant price recovery.

If a similar scenario plays out, XRP could recover from current levels, and with good volumes, it may break above the triangle’s descending trendline at $2.40 (embraced by the 50-day SMA).

The target is set by the distance between the triangle’s lowest and highest points, which would bring XRP price to $3.51, an approximate 73% gain from the current price.

XRP/USD daily chart. Source: Cointelegraph/TradingView

Several analysts also share similar bullish outlooks for the altcoin, citing XRP’s adoption, chart technicals and the end of Ripple's case with the SEC as the reasons.

Citing a chart similar to the one shared above, XRP investor Steph Is Crypto said the price was "heavily compressing" before a massive breakout.

Using Elliott Wave theory, crypto analyst Dark Defender shared an optimistic price prediction for XRP, saying that the token’s correction in the monthly time-frame "will be over within weeks."

His targets remain between $5 and $18 in the mid and long term.

According to CasiTrades, the XRP’s relative strength index shows a bullish divergence on multiple time-frames and this signals a price bottom, and an upside target of $3.80.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.