XRP Poised for Major Price Movement as Bollinger Bands Signal Breakout

XRP’s price action, alongside Bitcoin (BTC), is showing signs of a significant impending move, according to technical indicators. The Bollinger Bandwidth on the 4-hour chart has narrowed to its tightest level since October 2024, resembling a compressed spring ready to uncoil. This suggests a potential surge in volatility and a notable price shift for XRP in the near term. Additionally, Ripple’s RLUSD stablecoin has been listed on Aave V3’s Ethereum market, expanding its utility and accessibility for decentralized finance (DeFi) users.

XRP Resembles Compressed Spring for Significant Price Move

XRP and Bitcoin (BTC) price action resembles a tightly compressed spring ready to uncoil, according to the Bollinger Bandwidth indicator. The bandwidth has narrowed to its lowest level since October 2024 on the 4-hour chart, suggesting a sudden release of energy and significant price movement for XRP.

Ripple’s RLUSD Stablecoin Launches on Aave V3 Ethereum Market

Aave users can now supply and borrow Ripple’s RLUSD stablecoin on the decentralized lending platform’s V3 Ethereum Core market. The peer-to-peer loans market has a supply cap of 50 million RLUSD and a borrow cap of 5 million RLUSD. RLUSD is a stablecoin pegged 1:1 to the U.S. dollar and fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and cash equivalents. It is offered on the XRP Ledger and Ethereum blockchain and has security features appealing to institutional users.

XRP Ledger Bug Patched After Serious Flaw Discovered

A serious flaw was discovered in the XRPL library, where a threat actor exploited a developer’s NPM access token to publish illicit code to the XRP Ledger network. The issue was spotted by Aikido Security and could have been catastrophic for the network. The hidden issue was added to recent versions of a toolkit used to build apps that work with the XRP Ledger. The problem only affects versions of Node Package Manager (NPM) used by developers.

XRP Price Jumps Over 6% Amid Crypto Market Surge

The global crypto market cap has increased to $2.93 trillion, with Bitcoin nearing the $95,000 mark. Altcoins are also showing strong gains, particularly XRP which surged over 6% to $2.25. This upswing could be attributed to the ongoing Ripple legal battle and a rise in crypto ETF applications. Investors are hopeful that the SEC Chair’s recent pledges will help end the Ripple case.