XRP News Today: XRP Surges 10% as Ripple Launches Ethereum Sidechain

Ripple’s XRP has garnered significant attention this week with the launch of its highly anticipated Ethereum Virtual Machine (EVM) sidechain on the mainnet. This upgrade enables Ethereum-compatible smart contracts to operate on the XRP Ledger, paving the way for faster and more cost-effective decentralized applications, bridges, wallets, and more. This development marks a substantial advancement for Ripple’s expanding ecosystem, and traders are closely monitoring the price movements.

Currently, XRP is trading within the range of $2.20 to $2.23, just below a critical resistance zone. The price briefly surpassed $2.20 in the past 12 hours and is attempting to maintain this level. While the momentum is not yet strong, the charts suggest that XRP could be positioning itself for a potential upward move.

If buyers can push the price above $2.21 and sustain it, XRP could see a quick rally toward $2.25. The next target after that would be around $2.31 to $2.35. On the downside, XRP has support between $2.14 and $2.10, with a stronger support area near $1.95 if the market turns lower.

Analyst Casi Trades suggests that XRP’s breakout is imminent, but one crucial factor is still needed. The price is moving toward $2.30, and the next significant moment will be whether it can hold $2.25 as new support after a pullback. If this level holds, it would confirm the strength of the move. Momentum indicators like the Relative Strength Index (RSI) remain strong, showing no early signs of weakness.

If everything goes as planned, the next targets are $2.69 and $3.04, with further upside potential. “Now, we’re watching for XRP to revisit $2.25 and hold it cleanly. If it does, that’s the base for the move we’ve been waiting for. Breakout season is just getting started,” the analyst said.

The EVM sidechain launch adds value to Ripple’s long-term plans, but it hasn’t triggered a significant rally yet. The integration of the EVM sidechain is expected to have a positive impact on the price of XRP. According to analysts' forecasts, XRP could climb to $2.60 by September 2025 and reach $3.26 by the end of the year. This prediction is based on the potential for increased adoption and usage of XRP within the decentralized finance (DeFi) space, as well as broader cryptocurrency market trends.

The launch of the EVM sidechain has already sparked renewed interest in XRP. The token's price has been hovering around $2.20, and there is potential for a rally of up to 10%, retesting resistance at the May 16 high. This bullish sentiment is further supported by the likely approval of spot ETFs, which could happen this summer, providing additional tailwinds for XRP's price.

The EVM sidechain is also expected to expand the XRP Ledger's cross-chain DeFi capabilities, making it more attractive to developers and users alike. The integration of the cross-chain interoperability protocol Wormhole, which supports over 200 applications across 35 blockchains, further enhances the XRP Ledger's interoperability and utility.

In summary, the launch of the EVM sidechain on the XRP Ledger represents a significant milestone for Ripple and the broader cryptocurrency ecosystem. The integration of Ethereum smart contracts and the expansion of cross-chain DeFi capabilities are expected to drive increased adoption and usage of XRP, potentially leading to a rally in its price. The bullish sentiment surrounding XRP is further supported by the potential approval of spot ETFs and broader market trends.