XRP News: Potential Explosive Growth Suggested by Fibonacci Analysis, Targeting $10

Cryptocurrency enthusiasts are buzzing with excitement as Fibonacci analysis hints at possible explosive growth for XRP, with a future target price of $10. Here’s a closer look at the details and what it means for the market.

XRP Targets $10? Fibonacci Analysis Hints at Explosive Growth

XRP is holding strong at the $2.36 support level, signaling potential for a bullish breakout. Fibonacci extensions suggest a possible surge to $5-$10 in the coming months. market sentiment remains optimistic, with key resistance levels to watch at $2.70 and beyond. The level at $2.36, derived from the .618 Fibonacci retracement, is a strong pivot point. The market has stayed strong here, with sellers appearing exhausted, which might create a foundation for a move up. A bullish divergence on RSI corroborates this momentum shift, suggesting growing buying pressure.

XRP Price Prediction For March 22

Ripple’s XRP is currently down by more than 1% and trading at $2.39. The price continues to show a larger bearish divergence on the 3-day chart. Despite some short-term bullish movement, the overall momentum is still leaning toward the downside. Market analysts have been warning that major bullish movement is unlikely in the NEAR future. However, according to analyst Josh of Crypto World, XRP has seen brief bullish movements, with some positive price structure breaking above key levels, allowing it to flip previous resistance into support, giving traders hope for short-term price action. But the overarching bearish divergence remains, signaling that larger price increases may still be unlikely for the near future.

Ripple’s RLUSD Stablecoin Gains Momentum

Ripple’s RLUSD stablecoin has seen its circulating supply rise to $160 million. The number of Ethereum mainnet accounts holding RLUSD has grown by 15% to 2,345, signaling strong adoption. Uniswap led the trading volume for RLUSD with $12.5 million, supplementing its $23 million worth of daily on-chain exchange transactions. RLUSD/ETH exhibited bullish momentum at $1.004, with RLUSD/USDT at $0.9995. This growth positions RLUSD as a notable player in the stablecoin market.

Ripple Urges SEC for Clearer Crypto Rules, Proposes 3 Solutions

Ripple has recently reached out to the SEC, highlighting the need for clearer regulations in the crypto space. This comes after Hester Peirce, head of the SEC’s Crypto Task Force, sought public input on how to establish a clearer crypto taxonomy. Ripple responded by criticizing the SEC’s previous leadership under Gary Gensler, pointing out that the SEC’s past crypto guidelines were confusing, overly lengthy, and lacked solid legal backing.