Ethereum

<p>XRP dipped all the way to the 1 dollar mark on Friday, putting this key threshold to the test once again. As selling pressure remained strong throughout the week, market participants closely watched the US Personal Consumption Expenditures (PCE) index for May, one of the Federal Reserve’s preferred gauges of inflation. The data hinted that inflation is proving more persistent than anticipated, prompting a cautious tone toward riskier assets.</p><h2 id="short-term-scenarios-dominate-the-xrp-outlook">Short term scenarios dominate the XRP outlook</h2><p>Over the course of three straight days, XRP declined and tested the heavy trading zone around 1.06 dollars, seeing about 830 million XRP change hands at this level. However, buyers struggled to hold the support and the price retreated to the 1 dollar boundary.</p><p>Following Friday’s low, buying interest emerged and the recovery extended into Saturday. Over the past 24 hours, XRP has gained 2.95 percent, most recently trading at 1.07 dollars. The key near-term question is whether support at 1.06 dollars can be reestablished, allowing the bounce to continue.</p><blockquote><p>Analysts now see three possible paths for XRP in the short run: a continued recovery, a period of sideways movement, or a decline below 1 dollar.</p></blockquote><p>Alternatively, if the market waits for fresh direction, the price could remain stuck in a narrow band. However, should the current levels fail, a fresh drop below the psychological 1 dollar mark may become likely, drawing attention to previous zones of strong trading activity as potential supports.</p><p>According to crypto analyst Ali, if XRP breaks below the critical 1 dollar level, three key price supports come into focus. Roughly 923 million XRP changed hands at 0.80 dollars, 1.16 billion at 0.62 dollars, and 1.06 billion at 0.51 dollars—areas where heavy historical trading activity makes them likely candidates for a potential price floor.</p><table><tbody><tr><th>Level</th><th>XRP Traded (million)</th><th>Significance</th></tr><tr><td>1.06 dollars</td><td>830</td><td>Key near-term support and resistance</td></tr><tr><td>0.80 dollars</td><td>923</td><td>First major support</td></tr><tr><td>0.62 dollars</td><td>1,160</td><td>Deeper retracement target</td></tr><tr><td>0.51 dollars</td><td>1,060</td><td>Lower support band</td></tr></tbody></table><h2 id="xrp-ledger-takes-the-lead-in-rlusd-supply">XRP Ledger takes the lead in RLUSD supply</h2><p>A major development for the <a href="https://en.coin-turk.com/sec-clarifies-its-stance-on-digital-assets-in-ripple-case/" rel="noopener noreferrer nofollow">Ripple</a> ecosystem this week involved RLUSD, Ripple’s dollar-pegged stablecoin. For the first time, on-chain supply of RLUSD on the XRP Ledger has surpassed that on <a href="https://en.coin-turk.com/trumps-iran-warning-sends-gold-tumbling-as-crypto-surges/" rel="noopener noreferrer nofollow">Ethereum</a>. Data tracking Ripple stablecoins shows 810 million dollars’ worth of RLUSD now circulating on XRP Ledger, while supply on the Ethereum network remains at approximately 760 million dollars.</p><p>XRP Ledger is Ripple’s proprietary blockchain network, widely used for cross-border payment solutions. RLUSD—a stablecoin tied to the US dollar—is designed for both institutional and retail payments across different platforms within the Ripple ecosystem.</p><blockquote><p>RLUSD’s in-circulation supply on XRP Ledger reached 810 million dollars, while on the Ethereum network, the figure stood at 760 million dollars.</p></blockquote><h2 id="regulatory-green-light-for-rlusd-in-japan">Regulatory green light for RLUSD in Japan</h2><p>Japan’s Financial Services Agency (FSA) has now officially recognized RLUSD under the country’s Payment Services Act as a new kind of electronic payment instrument. This move paves the way for Ripple’s stablecoin product to be used within Japan’s regulated financial markets.</p><p>Plans are in place to offer RLUSD in Japan through SBI VC Trade, making it available to both institutional investors and individual users. SBI VC Trade operates as a crypto platform under the umbrella of Japan’s financial giant SBI Holdings, expanding its product lineup to include the new stablecoin.</p><p>The post <a href="https://en.coin-turk.com/xrp-rebounds-by-nearly-3-percent-after-retesting-1-dollar-what-do-the-critical-support-levels-signal/" rel="noopener noreferrer nofollow">XRP rebounds by nearly 3 percent after retesting 1 dollar! What do the critical support levels signal?</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

XRP rebounds by nearly 3 percent after retesting 1 dollar! What do the critical support levels signal?

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