XRP Eyes $2.30 Breakout as RippleNet Rumors Link Elon Musk to SWIFT Alternative
The post XRP Eyes $2.30 Breakout as RippleNet Rumors Link Elon Musk to SWIFT Alternative appeared on BitcoinEthereumNews.com.
TLDR: XRP eyes a $2.30 breakout as bullish patterns form and technical support holds above the $2.00 level. Elon Musk may adopt RippleNet for X Payments, signaling a shift away from the SWIFT payment system. XRP’s legal battle with the SEC continues, with a key settlement update deadline set for June 16. Positive trading indicators, including rising CVD and chart setups, point to potential gains toward $3.00. XRP is approaching a key resistance level at $2.30 amid growing support from institutional and retail markets. The attention surrounding the token has increased after reports that Elon Musk plans to adopt RippleNet as the payment infrastructure for X Payments. This will potentially replace the legacy SWIFT system. As the legal dispute between Ripple Labs and the SEC nears a June deadline, market participants are watching for price action and court developments. XRP Moves Closer to Breakout as Key Price Levels Hold XRP is trading at $2.17, according to data from CoinGecko. The price has dropped by around 2.2% over the past 24 hours but remains above the $2.07 support level noted by analysts. XRP price on CoinGecko Egrag Crypto, a market analyst, stated that a daily close above $2.30 would validate a double-bottom pattern. The 21-day exponential moving average (EMA) on Egrag’s 3-day chart has also become a reference point for confirming bullish momentum. The analyst emphasized that the double-bottom formation remains intact as long as XRP does not record three daily closes below $2. Egrag noted that the key indicator now is to avoid three consecutive daily closes below $2, which would signal potential structural failure. #XRP – A Close Above $2.30 Reinforces the Double Bottom Pattern! (UPDATED CHART): UPDATE: Nothing has changed — the Double Bottom remains a solid, strong structure. The key indicator now is to avoid three consecutive…
