Ripple Price Forecast: XRP eyes bullish comeback to $2.60 backed by institutional adoption
- XRP regains strength after testing $2.00 support backed by growing institutional interest.
- Renewable energy company VivoPower diversifies investment with a $121 million XRP-focused treasury.
- Short-term resistance at $2.35 could temper bullish momentum expectations this week.
Ripple’s (XRP) gains momentum as the crypto market broadly consolidates, trading at $2.22 at the time of writing on Tuesday. The slight uptick in the XRP price comes amid growing concerns over tariff tensions and uncertainty in the United States (US). Meanwhile, XRP continues to gain institutional adoption as publicly listed companies, such as VivoPower, turn toward digital asset treasury reserves.
XRP offers bullish momentum signs as institutional demand grows
The sell-off from the May high of $2.64 to support at $2.07 occurred amid tensions over President Donald Trump’s tariffs. A court ruled against the implementation of the tariffs last week, creating mayhem in the global economy. While an appeals court temporarily paused the ruling, uncertainty remains.
Meanwhile, XRP’s downside price risks appear to be fading, buoyed by risk-on sentiment, as publicly listed companies like VivoPower allocate funds to XRP-dedicated treasury strategies.
VivoPower, a renowned renewable energy company, recently announced that it is setting aside $121 million for an XRP-focused treasury reserve. The reserve will leverage BitGo’s over-the-counter (OTC) infrastructure, according to Tuesday’s announcement.
“VivoPower is committed to driving value for our shareholders by building out a leading digital asset treasury strategy,” said Kevin Chin, CEO of VivoPower. “[It’s] a mission we plan to accomplish through partnerships with best-in-class digital asset leaders like BitGo,” Chin added.
At the same time, Webus International, a company specializing in providing customizable car and touring services in China, announced on Monday the signing of an agreement to raise $300 million via a non-equity financing model to establish an XRP-centered reserve.The company stated the reserve is part of a larger plan to integrate XRP payments into Webus International’s ecosystem.
Technical outlook: Could XRP sustain momentum to $2.60?
XRP’s price holds above a key ascending trendline after bouncing off the 200-day Exponential Moving Average (EMA) support at $2.07. The Relative Strength Index (RSI) upward reversal, which is approaching the 50 midline, suggests that XRP could gain momentum in upcoming sessions.
Traders may look out for a potential buy signal from the Moving Average Convergence Divergence ( ACD) indicator, which could boost momentum toward the target of $2.60.
A buy signal would manifest when the blue MACD line crosses above the red signal line, thus encouraging traders to buy XRP.
XRP/USDT daily chart
The bullish outlook remains intact in shorter time frames, as illustrated by the 4-hour chart below. The MACD here has sustained a buy signal since Saturday and is on the cusp of breaking above the zero line (0.00). Should traders continue to buy XRP due to the buy signal and the expanding green histogram bars, the path with the least resistance will stay firmly upwards.
The RSI in the same time frame reinforces the bullish momentum. As it closes the gap toward overbought territory, the probability of the XRP price extending its gains could grow significantly.
XRP/USDT 4-hour chart
Meanwhile, XRP sits below the 100-day Exponential Moving Average (EMA) and the 50-day EMA, which could slow down or reject the uptrend at the $2.26 and $2.27 levels, respectively. Moreover, the previously tested seller congestion at $2.35 could increase the risk of a pullback or consolidation amid potential profit-taking as the XRP price recovers.
Cryptocurrency prices FAQs
Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.
A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.
Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.
Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.
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