XRP prices pick up, Ripple Labs casts 20 million RLUSD on Ethereum

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Key Insights

Recent XRP news shows that Ripple Labs has minted 20,000,000 RLUSDs on Ethereum, and XRP prices have also increased.

XRP prices climbed from around US$1.00 to around US$1.40 after a bullish divergence signal.

XRP prices fluctuated significantly, with whales reportedly buying 300 million XRPs, while US$1.25 billion of short positions were liquidated.

Today's XRP news focuses on Ripple Labs minting 20 million RLUSD stablecoins on Ethereum. It is worth noting that this development coincides with an overall rebound in the crypto market, not to mention the performance of the XRP price itself.

Ripple minted 20 million RLUSDs, XRP news garnered attention

According to data from the Ripple stablecoin tracker, Ripple Labs has minted 20,000,000 RLUSDs on Ethereum. The minting comes as XRP prices join a broader market rally, with the token rising sharply from around $1.

The minting of RLUSD adds another important development to the latest XRP news, although the information shared does not explain the specific purpose of these newly minted coins. RLUSD is Ripple's stablecoin, while XRP is still the native token of the XRP ledger.

At the same time, market activity around XRP is heating up rapidly. Cryptocurrency trader EGRAG Crypto pointed out that before the recent trend, a bullish divergence pattern had formed on the XRP chart. This pattern shows a decline in prices, while the Relative Strength Index (RSI) forms a higher low.

This pattern suggests that selling pressure is beginning to weaken. Subsequently, XRP responded from divergence territory, rising from about $1.00 to around $1.40. This trend has brought XRP back into the spotlight, with traders focusing on whether the rebound can be sustained.

XRP prices face key levels after strong rebound

The latest XRP price movements have also brought multiple key levels. Analyst EGRAG Crypto pointed out on the X platform that the $1.58 to $1.60 region is the next major resistance level for XRP.

Breaking through this range will bring further market attention to US$1.96, which the analyst described as a macro confirmation level. According to the analysis shared, after breaking through $1.96, the idea of the third wave will become more powerful.

The higher level is $3.00 to $3.60. This range is described as the first wave high point and the main breakthrough area. EGRAG Crypto said a breakthrough of $3.60 would make the larger 20x macro perspective more meaningful.

However, analysts also made clear that current trends are not enough to confirm a complete third wave. Therefore, as XRP attempts to hold on to its recent rebound gains, the next price level is crucial.

For those who follow XRP news, the key question is whether the token can break through resistance rather than lose its latest upward momentum.

However, the crypto market may experience sharp and unpredictable price fluctuations. Therefore, the technical goals and price levels discussed in this paper are based on speculative estimates of existing indicators and do not guarantee future results.

This content does not constitute financial advice and readers should make careful judgment and seek professional guidance when appropriate.

Whale buying and clearing add highlights to XRP news

The speed of XRP's rise has also attracted the attention of analyst Xaif Crypto, who reported that XRP achieved a 41% gain during the day. The token climbed from trading below $1 to approximately $1.39 in a matter of hours, as confirmed by CoinMarketCap data.

The sharp rise was accompanied by active trading in the derivatives market. According to CoinGlass data,$1.25 billion of short positions were liquidated during this round of gains. Liquidation of short positions exacerbates rapid price increases because traders betting on falling prices are forced to leave when the market moves in the opposite direction.

It is worth noting that analyst Ali Martinez quoted Sanitation data report that whales bought 300 million XRPs. This figure adds another concern to the rebound in XRP prices.

Taken together, the latest XRP news shows that multiple developments are happening at the same time: Ripple Labs has minted 20,000,000 RLUSDs on Ethereum, XRP prices have rebounded strongly from the level of about US$1, and market activity has increased sharply.

Still, the next price level is likely to be the most critical to the direction of the trend. XRP is currently approaching the $1.58 to $1.60 resistance zone, while $1.96 remains the next major level highlighted in the analysis.