XRP News Today: XRP Hovers at Critical Support as New Layer 2 Rival Sparks Bullish Speculation

XRP traders remain cautious as market dynamics indicate a prolonged consolidation phase, yet emerging data suggests the potential for a significant rebound in the latter half of the year. Over the past 45 days, XRP has lost nearly 20% in value, consolidating within a descending triangle pattern near the $2.70 support level. This pattern raises concerns of a further breakdown below that key level. On-chain data and futures positioning, however, indicate a possible reset in leverage and early signs of accumulation that may reduce the likelihood of cascading liquidations.

The open interest in XRP futures has dropped from $11 billion to $7.5 billion during the same period, signaling reduced speculative activity. According to Binance data, the token’s estimated leverage ratio has returned to its yearly average, suggesting that traders are no longer overextended on high leverage [1]. This development supports price stability during corrections and may pave the way for a reversal in sentiment. Additionally, the net taker volume on spot exchanges has moved closer to neutral, supported by an increase in the cumulative volume delta (CVD), which suggests that buyers may be entering the market [1].

Fibonacci retracement levels and fractal patterns have historically provided meaningful insight into market behavior, and in this case, they converge on a $2.35 to $2.65 price range. If XRP breaks below $2.70, it could enter this zone, where a reaction is likely. Crypto analyst Javon Marks has noted that as long as prices remain above $2.47, a potential 66% upside could follow [1]. If this pattern repeats the Q1 2025 fractal behavior, traders may see a 60% to 85% rebound into the fourth quarter.

The XRP narrative is also being overshadowed by a new entrant in the crypto market—Layer Brett (LBRETT), an Ethereum Layer 2 protocol that has gained traction during its presale. The project has raised over $1.8 million, with tokens available for $0.005 each during the offering phase. Layer Brett differentiates itself by combining meme culture with scalable blockchain infrastructure, enabling faster transactions and lower gas fees [2]. The project’s tokenomics plan includes a capped supply of 10 billion tokens and staking mechanics that offer high initial yields to early participants.

Layer Brett’s emergence has sparked comparisons with established projects like Solana and Ripple. While Solana and Ripple have seen recent price surges, their massive market caps—$103.94 billion and $166.63 billion respectively—make achieving 100x gains from current levels improbable [3]. In contrast, Layer Brett’s decentralized structure and community-driven approach appeal to investors seeking utility-backed memecoins. Analysts have highlighted the project’s potential to outperform in 2025, particularly as Ethereum Layer 2 solutions are expected to process over $10 trillion in annual value by 2027 [3].

As the crypto market remains in a state of flux, both XRP and Layer Brett are drawing attention for different reasons. XRP traders await signs of a potential rebound, while Layer Brett is capturing early interest with its hybrid model of meme-driven engagement and technical infrastructure. Whether XRP can break out of its descending triangle or if Layer Brett can maintain its presale momentum, both projects exemplify the evolving nature of crypto assets in a rapidly changing market.

Source:

[1] XRP Downtrend Extends But Data Predicts 85% Bounce (https://cointelegraph.com/news/xrp-downtrend-extends-but-data-predicts-85percent-bounce)

[2] Layer Brett Unveils Ethereum L2 As Presale Surpasses $1.8M (https://cointelegraph.com/market-releases/layer-brett-unveils-ethereum-l2-as-presale-surpasses-1-8m-pepe-s-brother-gains-own-chain)

[3] Layer Brett Price Prediction: 3 Reasons Why LBRETT Is Trending Over Top Altcoins Ripple XRP and Solana SOL (https://crypto-economy.com/layer-brett-price-prediction-3-reasons-why-lbrett-is-trending-over-top-altcoins-ripple-xrp-and-solana-sol/)