XRP Price Must Hold This Support to Reclaim $3: Details

XRP news recorded a strong recovery for price today, which soared nearly 7% after falling to as low as $1.53 this week.

The retreat comes amid a broader crypto market selloff, triggered by the trade tensions between the US and China.

However, recent Donald Trump has allayed some concerns with his dovish comments on the China tariffs.

According to reports, the countries will have fresh talks on the trade deal, which has given some relief to market participants, as evidenced by the recent performance of the broader financial market.

Despite that, the recent selloff has weighed on the traders’ sentiment, with investors now eyeing the XRP price prediction to $3.

While many market watchers are anticipating the volatile scenario to continue in the near future, some have shown a positive outlook on Ripple coin price.

Besides, the latest recovery has further bolstered market confidence, with Ripple CEO Brad Garlinghouse further bolstering market confidence.

In a recent X post, he has lauded a major development for the blockchain firm, which has caught the eyes of traders.

So, let’s explore the key price levels that might indicate the potential future movement of Ripple price.

XRP Price Soars as Brad Garlinghouse Lauds Ripple Development

XRP price jumped around 7% today and rested at $2.35, but its trading volume declined nearly 41% to $5.23 billion.

This indicates that the trading activity remained muted despite the price finding some stability. Ripple price has touched a 24-hour high and low of $2.37 and $2.20, respectively.

As the asset maintained the brief support of $2.20, the market watchers are looking for XRP price prediction for further cues on the future trajectory of the asset.

It’s worth noting that despite the strong recovery, the weekly performance shows a plunge of 5%.

The monthly chart further dampens the sentiment, showing a hefty decline of over 24% in the asset’s value.

However, the recent recovery could be attributed to the broader crypto market rebound after Donald Trump’s dovish tone on China tariffs.

In more XRP news, Ripple CEO Brad Garlinghouse recently lauded a key development for the blockchain firm, which has further bolstered the market sentiment.

Here’s Why Ripple Coin Price is Soaring Today

The recent rebound in XRP price coincides with Ripple CEO Brad Garlinghouse’s enthusiastic remarks about the company’s latest development.

Ripple recently acquired GTreasury, a move aimed at tapping into the $120 trillion corporate treasury payments market.

Garlinghouse expressed his excitement in a X post, highlighting the potential of decentralized financial technologies in streamlining payments.

He emphasized that the acquisition would enable Ripple to help Chief Financial Officers (CFOs) manage assets, including stablecoins and tokenized deposits, on a global scale.

Besides, the Ripple CEO also mentioned that the partnership would allow CFOs to utilize idle capital through repo markets via Hidden Road.

Garlinghouse believes that the opportunity is ripe for Ripple to make a significant impact in the industry.

On the other hand, the broader crypto market recovery has also fueled the broader market sentiment.

During writing, the global crypto market cap soared 4% to $3.53 trillion, with BTC price soaring 2.5% to $107k.

Meanwhile, the optimism over a potential XRP ETF approval might also have helped in the current recovery of the asset.

XRP Price Prediction: Can it Rebound to $3?

As XRP news notes current rebound in Ripple price, an analyst has shared a detailed XRP price prediction, analyzing the key price levels.

According to CRYPTOWZRD, the major support for Ripple coin is at $2.33, and the resistance is currently at $2.75.

If it successfully breaks through the wall, the next target would be at $3.15. However, if the $2.33 support fails, it could further dip to $2 in the near future, the expert said.

Notably, this also comes in tandem with an XRP price prediction from market pundit Ali Martinez.

In a recent XRP news, analysis shared on X, the analyst has fueled concerns, saying that Ripple price may revisit the $2 level before a potential rebound.

Having said that, investors should tread cautiously amid the ongoing volatile scenario in the market.

While the recovery has boosted the sentiment, any harsh geopolitical or macroeconomic move may once again hit the market sentiment.