XRP Is Flat Even As CEO Predicts a Spot Ripple ETF in 2025
XRP is flat above $0.50 and bearish. Meanwhile, Ripple is reportedly preparing to launch a stablecoin reportedly by the end of the year
XRP is flat but realigned with the higher highs from May lows. Overall, traders are confident that there is more room for growth. However, with traders failing to break higher, breaching $0.55, chartists doubt the strength of the uptrend. How prices perform is primarily fundamentally driven. Once the Ripple versus the United States SEC case is settled, there will be a clear picture. Before then, the current uncertainty continues to influence prices.
Looking at the performance over the last day and week, it is evident that there are bullish winds, but they aren’t strong enough to impact prices. The path of least resistance is southwards, but it will change if there are sharp gains. As things stand, XRP is stable, though engagement has been encouragingly expanding, now breaching $1.2 billion when writing in the previous 24 hours.
The following XRP and Ripple news are closely being monitored:
- In a recent interview, the Ripple president, Monica Long, revealed that they might launch a stablecoin tracking the USD later this year. The product will be an alternative to the more dominant USDT and USDC.
- Brad Garlinghouse, the CEO of Ripple, is also optimistic about what lies ahead. Garlinghouse, despite Ripple’s troubles with the United States SEC, says a spot XRP ETF is inevitable. By his estimation, the derivative could launch in 2025.
XRP Price Analysis
XRP/USD is see-sawing, currently bullish within a predominantly bearish formation.
There are hints that buyers could flow back, driving XRP to $0.55 or higher.
However, by the look of things, the upswing is a mirage.
A firm, high-volume close above $0.55 could see the coin rally back to the $0.66 to $0.66 zone.
Nonetheless, this will change if the coin drops below $0.46, mirroring the bear bars of April 12 and 13.
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