XRP’s (XRP-USD) recent pullback may look like a setback, but according to analysts, it could actually be a classic “bull flag” pattern that sets the stage for a massive price surge. The XRP/USD pair recently dipped to around $2.40, down from a high of $2.90 earlier this month, marking a 17% correction. However, this minor dip is seen by many traders as a consolidation phase before a potential breakout that could push the price to $15—a 490% increase from its current value.
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RLUSD Stablecoin Drives XRP Adoption
XRP’s future is looking brighter thanks to the excitement regarding the RLUSD stablecoin. The new token, which will be launched on the XRP Ledger and Ethereum blockchains, is pegged 1:1 to the U.S. dollar and will require XRP for transaction fees. According to Georgios Vlachos, co-founder of Axelar, the RLUSD could help drive XRP adoption, especially in emerging markets. “This will significantly boost the adoption of XRP as a payment token in 2025,” Vlachos told CoinTelegraph.
Ripple’s CTO, David Schwartz, warned investors about potential price fluctuations related to RLUSD, noting that once supply and demand stabilize, the price would eventually align with its $1 target.
XRP’s Open Interest Surges in December
XRP’s strong price action is also reflected in its futures market. Open interest in XRP-tracked futures surged to record highs in early December, suggesting increased market confidence. This spike in open interest indicates that more capital is entering the market, which raises the chances that XRP’s bullish momentum will continue.
Trader Loses Big on RLUSD
In another development, a trader recently lost $27,000 after exchanging 10,000 XRP for just 100 RLUSD tokens. While the excitement surrounding RLUSD’s launch initially pushed XRP prices higher, the trader was left with a small amount of RLUSD worth only $100 after the transaction was completed on December 17. Ripple’s Schwartz had warned against such speculative moves, reminding investors that RLUSD is pegged to the dollar and should not be seen as an investment opportunity.
Schwartz’s advice was clear: “Please don’t FOMO into a stablecoin! This is not an opportunity to get rich,” he emphasized on an X post on Sunday
What Is the XRP Price Right Now?
At the time of writing, XRP is sitting at $2.5445.
