XRP Price Up 5% Following Ripple’s Push for Expanded Utility

The XRP price has surged 5% in the last 24 hours, to trade at $2.62, on a 10% drop in the daily trading volume, to $3.77 billion.

That price increase comes after Ripple said it is working on new ways to use XRP in its multi-asset brokerage, Ripple Prime. President Monica Long noted that RLUSD is already being used as collateral for some products and that more XRP use cases are on the way. This update follows Ripple’s $1.25 billion purchase and rebrand of Hidden Road into Ripple Prime.

CEO Brad Garlinghouse also reminded the community that XRP remains at the centre of Ripple’s plans as they build toward the “Internet of Value.”

Still, not everyone is convinced. A crypto analyst argued Ripple is focusing more on RLUSD than XRP and accused the company of hyping XRP’s role with little proof so far. Pro-XRP lawyer Bill Morgan told the community to ignore the doubts, saying real XRP utility will grow as Ripple expands and completes more deals like its recent GTreasury acquisition.

XRP Price Breaks Downtrend, Could Target $3.50 Soon

XRP has made a strong bounce after falling for several weeks. The price is now around $2.62, and traders are once again becoming optimistic. The chart shows that XRP was stuck in a bearish channel, moving lower since its peak above $3. Recently, the price broke out of that channel, signalling a bullish reversal.

A support zone near $2 helped stop the decline. From that level, buyers stepped in and pushed the price higher. XRP has also moved above a key resistance zone near $2.38, which now acts as new support. If the price stays above this area, the upward trend may continue.

The RSI indicator has also turned upward, showing stronger buying interest. This supports the idea that XRP may keep rising if demand remains strong.

XRPUSDT Analysis Source: Tradingview

Analysts are now watching the next target around $3.50. That level is shown on the chart as the next significant resistance. If XRP reaches and breaks above $3.50, it could open the door to even bigger gains later.

Still, traders are careful. If the price fails to move past $3.00, XRP might slow down and trade sideways before trying again. Falling back below $2.38 would also weaken the bullish setup.

For now, the market mood is improving. The breakout from the falling channel suggests that the worst of the recent drop could be over. XRP holders are watching closely to see if buyers can keep control and push the price higher as the year continues.