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- A $2,000 XRP investment could turn millions if the price reaches $262, but it requires a massive 49,987.79% rally.
- XRP faces bearish momentum, trading at $0.5293, with support holding firm at $0.5200, and potential resistance at $0.6640.
- Ripple’s RLUSD stablecoin could boost XRP Ledger activity, potentially driving XRP’s price toward the $10 mark.
Motivated by confidence in the community, JackTheRippler is considering the potential of turning a $2,000 investment into millions. Supporters of Ripple are still expecting a large price increase despite the regulatory turbulence and delistings.
At the current rate of $0.5293, one XRP coin is worth roughly $3,808 when spending $2,000. Nevertheless, the price needs to soar to $262 in order for these tokens to become worth $1 million. It would take an incredible 49,987.79% rally to accomplish this, indicating an ambitious perspective.
Market Technicals Show Bearish Signals, but Support Holds Firm
The price of XRP has recently dropped from a high of $0.6400 to its present level, exhibiting negative momentum. XRP/USDT is trading below the 50-period Simple Moving Average (SMA) around $0.5501, according to the 4-hour chart.
Source: BingX
In addition, resistance is approaching $0.6640, with the 50 SMA serving as immediate resistance. An RSI of 42.40 combined with a descending triangle pattern indicates that XRP is getting close to oversold territory.
Ripple’s Stablecoin Strategy Could Propel XRP Higher
In addition, Ripple is making great progress with the launch of its RLUSD stablecoin. This additional resource might increase activity on the XRP Ledger and improve the trajectory of XRP going forward. Ripple's institutional partners may switch from utilizing USDT and USDC to RLUSD by taking advantage of the expanding stablecoin market, which would increase on-chain activity.
The present price movement of XRP is still reliant on whether the bearish trend persists or if the support level at $0.5200 holds strong. XRP's price may rise if the RLUSD gets momentum and its daily trading volume surges. When paired with the growing uptake of Ripple's ecosystem, this may provide the conditions for XRP to eventually hit the much-desired $10 threshold.
The post XRP Eyes Multi-Millionaire Potential as Market Awaits Breakthrough appeared first on Crypto News Land.