XRP Eyes $6 Rally as Ripple’s RLUSD Hits $500M Milestone

XRP is attracting renewed attention as the popular crypto token holds firm above its crucial support level around $2.34, fueling anticipation of a breakout. With bullish technical formations forming and Ripple’s native stablecoin RLUSD recently crossing a $500 million market capitalization, XRP traders are setting their sights on a potential rally toward the $6 mark.

Since December 2024, XRP has traded within a consolidation range, with its upper resistance hovering near $2.65. Despite a slowdown in retail investor activity, this range has shown steady accumulation, suggesting confidence among long-term holders. Analysts now believe this accumulation phase may be nearing its end.

Arthur Azizov, the founder of B2 Ventures, shared his outlook on XRP’s trajectory in a note published Thursday by CoinDesk. “If XRP sustains support above $2.34, there’s a strong likelihood it could reach a local high around $2.65,” he stated. He added that a definitive breakout beyond that range could lead the digital asset toward significantly higher targets, with a $4 to $6 range being a realistic zone for upside expansion.

This sentiment is mirrored by other market technicians, who point out the emergence of bullish patterns including a symmetrical triangle and a bull flag. Both formations typically suggest consolidation before a trend continuation, and chart watchers believe a break above $2.65 could act as a launchpad to push XRP to multi-year highs.

Adding to the optimistic scenario is a noticeable uptick in trading interest around XRP. According to recent market data, open interest in XRP futures has climbed to its highest level in over five months, indicating that traders are increasingly betting on a positive move. Simultaneously, volatility bands are tightening, a technical sign that often precedes a major price breakout. Large-scale holders, often referred to as whales, are also accumulating XRP tokens, as noted in a recent report, reinforcing the bullish narrative.

Meanwhile, Ripple is turning heads in the stablecoin space with its new digital dollar, RLUSD. Launched just eight months ago, RLUSD has already surpassed a $500 million market valuation, placing it among the top 20 stablecoins worldwide. This rapid growth signifies a strong demand for Ripple’s stable offering, fueled by notable institutional partnerships.

One such partnership includes custody support from financial giant BNY Mellon, a move intended to ensure secure reserves management. RLUSD is now integrated across major payment and exchange gateways like Transak and OpenPayd, boosting its utility and accessibility in the broader crypto ecosystem.

The dual momentum of XRP’s technical outlook and RLUSD’s rapid expansion highlights Ripple’s strengthening position in both the investment and payment sectors. Traders now eagerly await a decisive move from XRP, which — if it breaks out — could shift the narrative from accumulation to acceleration.

If bullish conditions persist, XRP could potentially reclaim higher valuation zones not seen in years. With increased derivatives activity, rising institutional interest, and stablecoin adoption trending upward, the crypto community remains cautiously optimistic about Ripple’s evolving role in the digital finance landscape.

Related: XRP Price: $12M Max Pain for Bears

For more insights, read: Ripple Taps BNY to Custody Stablecoin Reserves as RLUSD Surpasses $500M.