XRP might be about to get a lot more interesting.
XRP and XLM are once again drawing attention as their long-standing price correlation fuels expectations of a potential recovery rally. If history repeats itself, the recent move in XLM could signal that XRP is preparing for a bullish breakout of its own, potentially reigniting confidence across the broader XRP ecosystem.
The crypto market seems to be returning to its bearish structure as the year's second quarter has worn on, with large-cap assets taking most of the hit in the past few weeks. With this grim market backdrop, the XRP token has lost nearly 10% of its value over the last two weeks.
Ripple (XRP) is struggling to translate a string of headline-positive catalysts—spot ETF activity and the end of its long-running U.S. regulatory overhang—into a convincing price recovery, even as signs of 'institutional demand' continue to build. XRP was trading around $1.34 on Friday ET, leaving the token down roughly 26% year-to-date and far below last year's peak.
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Ripple and Stellar are set to be a powerful duopoly in financial services, which will mirror the dominance of Visa and Mastercard in global payment networks.
XRP traded firmly on Saturday, extending a recovery that began on Thursday after the cryptocurrency bounced from a key multi-month support zone near $1.34. The rebound has reignited optimism among investors who have endured months of frustrating sideways price action.
The amount of XRP burned as fees has declined by 34.97% within just 24 hours according to data from crypto analytics platform CryptoQuant.
Crypto exchange-traded fund (ETF) flows remained under pressure on Friday, May 29, as bitcoin funds posted a tenth straight day of outflows and ether funds extended their outflow streak to 14 sessions. Still, the tone was less one-sided than earlier in the week, with XRP, HYPE, and Solana ETFs all attracting fresh capital.
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Exchange supply drops and NVT ratio falls as XRP consolidates around the $1.33 equilibrium zone.