TLDR
- XRP price holds above $2.00 despite SEC delaying altcoin ETF decisions
- Ripple CEO Brad Garlinghouse proposed real-time wage payment system
- Technical analysts see breakout potential if price surpasses $2.39
- XRP trading between $2.01 and $2.30, showing 4.2% gain over past seven days
- $5 price target emerging as utility narrative strengthens
XRP price has maintained its position above the $2.00 mark despite recent regulatory uncertainty. The U.S. Securities and Exchange Commission postponed its decision on multiple altcoin ETFs, including those for XRP, Solana, Cardano, and Avalanche.
The initial announcement triggered a brief sell-off, with XRP price dropping to a daily low of $2.30. However, the market quickly stabilized after Bloomberg analyst Eric Balchunas clarified that these delays were part of the normal review procedure.
Balchunas reiterated high chances of eventual approval for these ETFs. Following this reassurance, XRP rebounded 1.7% to reclaim the $2.30 level.
The cryptocurrency is now trading in a range between $2.01 and $2.17, reflecting a 4.2% gain over the past seven days. This recovery indicates that investors have shifted their focus from regulatory concerns to XRP’s utility potential.
Real-Time Payment Revolution
Ripple CEO Brad Garlinghouse has sparked renewed interest in XRP’s real-world applications with his proposal for a revolutionary salary model.
“Why not get paid daily, hourly, or even by the second?” Garlinghouse asked in a statement shared by analyst “CryptoSensei.”
The concept aims to eliminate outdated friction in global payments. Garlinghouse pointed out that the current monthly or biweekly paycheck system exists only due to settlement delays in traditional finance.
In contrast, Ripple’s on-chain payments infrastructure could enable seamless, real-time compensation flows. With RippleNet and the XRP Ledger already facilitating low-cost, cross-border payments, this salary streaming proposal could become a core use case for XRP.
The possibility of real-time salary payments positions XRP for potential gains and wider adoption. Market observers believe this proposal contributed to XRP’s price recovery above $2.30.
Technical Outlook
XRP is currently trading around $2.25, posting a daily gain of 0.53%. The asset is trading just below the Keltner Channel midline resistance of $2.39, which represents the first major hurdle for continued bullish movement.
Technical indicators show mixed signals. The Relative Strength Index (RSI) is at 68.87, approaching the overbought zone, while the RSI Moving Average has trended higher to 54.55, supporting ongoing momentum.
A bullish crossover occurred in mid-April, with the green histogram continuing to widen, suggesting sustained buyer interest. However, trading volumes remain modest at 18.58 million, indicating the current rally lacks strong accumulation support.
Key support levels include $2.17 (Keltner mid-band) and $1.96, while resistance sits at $2.39 (Keltner upper band) and $2.50.
On the hourly chart, analysts note a contracting triangle formation with support at $2.22. The price is currently trading below $2.26 and the 100-hour Simple Moving Average.
If buyers push XRP above $2.30, the next targets include $2.35 and potentially $2.42. Conversely, if the price fails to clear $2.26, it could decline toward supports at $2.22, $2.20, and $2.16.
The $5 price target is gaining attention as both technical patterns and fundamental developments align. If Ripple successfully implements real-world applications of micro-wage payments via XRP, the token could evolve from a speculative asset into a core financial utility.
For this scenario to materialize, several conditions must be met: regulatory clarity in major markets, progress on stablecoin legislation, sustained partnerships with enterprise clients, and continued growth in on-chain settlement volume.
XRP price started a fresh increase above the $2.30 zone but is now correcting gains while holding the $2.220 support zone.
