By Chris Hollingworth 
XRP (XRP) has shown resilience by stabilizing near its $2 support level following a recent marketwide sell-off that pushed the altcoin and other cryptocurrencies close to their swing lows. Recent data suggests that the XRP/USD pair is displaying early signs of a potential bullish breakout.
Ripple, the company behind XRP, made an important announcement on April 2 about integrating its RLUSD stablecoin into its cross-border payments system, Ripple Payments. This integration is expected to enhance XRP’s utility and liquidity, potentially boosting its price. RLUSD, a USD-pegged stablecoin launched in December 2024, complements XRP by providing stability for transactions while XRP acts as a fast and liquid bridge currency. This strategic move targets the $230 billion cross-border payments market with the aim of increasing demand for both assets.
As per data from rwa.xyz, RLUSD’s market cap currently stands at $244 million, reflecting an 87% growth in March alone. Financial institutions utilizing Ripple Payments may increasingly rely on XRP for liquidity, particularly in volatile corridors. The pairing of RLUSD with XRP on the XRP Ledger (XRPL) and exchanges could drive trading volume and activity on XRPL’s decentralized exchange, potentially tightening XRP’s supply.
Positive sentiment surrounding the success of RLUSD could have a positive impact on XRP’s value. Analysts are suggesting that increased adoption may drive XRP towards $3.50 or beyond. Market insights provider Alva highlighted the significance of Ripple’s RLUSD integration for cross-border payments, emphasizing its potential ripple effect on XRP and stablecoin adoption.
In terms of technical analysis, XRP has formed a symmetrical triangle pattern on the daily chart between January 16 and April 3. The price is currently retesting the lower trendline of the triangle around $1.98, indicating a possible rebound. Historical data shows that XRP has rebounded from this trendline multiple times in the past, leading to significant price recoveries. A breakout above the triangle’s descending trendline at $2.40, supported by the 50-day SMA, could potentially propel XRP towards a target of $3.51, representing a substantial gain from the current price level.
Various analysts are sharing optimistic outlooks for XRP, citing factors such as adoption trends, technical chart patterns, and the resolution of Ripple’s legal issues with the SEC. Some analysts predict significant price appreciation for XRP in the medium to long term based on Elliott Wave theory and other technical indicators. As the market continues to evolve, investors are closely monitoring these developments for potential shifts in XRP’s value.
