XRP Strong Rebound! RLUSD market capitalization soars past 600 million USD, helping to challenge the key strong resistance of 3.4 USD.

Ripple (XRP) quickly rebounded after a pullback over the weekend and is currently approaching the $3.3 mark. The market volume surged by 14% in the past 24 hours, indicating intense competition between bulls and bears. On-chain and derivation data are synchronously warming up, with open interest rising from a recent low of $7 billion to $8.3 billion, reflecting that traders are returning to the market. As Ripple's native stablecoin Ripple USD (RLUSD) market capitalization surpassed $640 million, expectations for XRP to break through $3.4 are rapidly heating up.

Regulatory clouds dissipate, XRP regains market confidence

Just 6 days ago, the U.S. Securities and Exchange Commission (SEC) officially withdrew its appeal against Ripple, ending a years-long civil enforcement dispute. This event marks the conclusion of the dispute between Ripple and the regulatory authorities, paving the way for the compliance of XRP in the U.S. market. Analysts point out that the removal of regulatory uncertainty helps attract more institutional funds, providing a foundation for a price rebound.

RLUSD market capitalization skyrockets by 50% as XRP price catalyst

(Source: CoinMarketCap)

Since its launch in December last year, Ripple USD (RLUSD) has seen continuous growth in market capitalization, rising by 50% in just two and a half months, with a current volume of 640 million USD. As the first native stablecoin on the Ripple network, RLUSD is pegged to the USD, allowing businesses and retail users to avoid the high volatility of crypto assets in cross-border payments.

With the passage of the U.S. GENIUS Act, Ripple will be able to collaborate with more payment platforms, promoting the application of RLUSD in daily consumption and international remittances, further expanding its ecosystem scale. Market observers believe that the rapid growth of RLUSD is becoming an important driving force for the upward price of XRP.

Technical Analysis: $3.4 is the key short-term resistance

(Source: Trading View)

From the 4-hour chart, XRP has broken through the previous downward price channel and is continuously consolidating around the $3.3 level. This price area has repeatedly become a core area of battle between bulls and bears. If it can effectively break through $3.4, it will confirm a short-term bullish trend and is expected to move towards $3.65 or even $4.

Technical analysts point out that breaking through 3.4 USD is not only a psychological barrier but also a signal of a stronger market structure, which will attract more chasing funds to enter.

Potential Catalysts: XRP ETF and Policy Benefits

The potential approval of the XRP spot ETF could become a key catalyst for driving the next round of price increases. If approved, it will bring an influx of institutional funds to XRP similar to that of Bitcoin and Ethereum.

In addition, the recent executive order issued by the White House allows 401(k) retirement plans to include cryptocurrencies, injecting long-term liquidity into the market. Due to XRP's long-standing popularity among retail investors, once the policy is implemented, this asset is expected to receive significant capital momentum.

Conclusion

With the regulatory risks alleviated, the market capitalization of RLUSD surpassing 600 million USD, and the technical indicators approaching the key resistance at 3.4 USD, XRP is on the threshold of a new round of upward movement. If it breaks through this price level in the short term, the market may quickly advance to the target range of 3.65 USD or even 4 USD. Investors should closely monitor XRP ETF developments and the progress of U.S. policies, as these factors will directly influence price trends and market sentiment. For more real-time market data and in-depth analysis, please follow the official Gate platform.