XRP News Today: Ripple's XRP Holds Above $2 Amid IPO Hopes, Bullish Chart Patterns

XRP, the cryptocurrency associated with Ripple, has maintained its value above $2 despite recent geopolitical tensions between Iran and Israel. This stability comes as attorney John Deaton, a prominent supporter of Ripple, has urged the company to expedite its initial public offering (IPO) plans. Deaton believes that the current favorable environment for cryptocurrencies presents an opportune moment for Ripple to go public.

Deaton, who recently ran for the U.S. Senate against Elizabeth Warren, highlighted the success of Circle’s IPO, suggesting that Ripple could achieve a market valuation of up to $100 billion. He pointed out that with nearly 40 billion XRP currently valued at $2, Ripple could potentially reach a $100 billion market cap. This valuation would significantly boost the XRP price prediction, as it would increase public awareness and solidify Ripple’s position as a leading cross-border payment platform.

Technical analysis of the 12-hour chart for XRP reveals a bullish pennant pattern, which indicates a continuation of the uptrend that began after the November 2024 rally. This pattern suggests that if the price breaks above the $2.5 area, it could retest the $3.4 level. Momentum indicators, such as the Relative Strength Index (RSI), have been improving, moving above 50, which signals that the uptrend is gaining strength. The $2 mark serves as a crucial support level, and another bounce above this area could provide the necessary liquidity for a rally toward a new all-time high.

Ripple’s legal victories against the U.S. Securities and Exchange Commission (SEC) and changes in leadership at the agency have also contributed to the positive sentiment surrounding XRP. These developments have propelled the price of XRP near its all-time high, further supporting the bullish outlook for the cryptocurrency.