- XRP surged 12% to $3.11 after Ripple obtained Money Transmitter Licenses in New York and Texas.
- A bull flag pattern indicates a potential rally toward $4.62 (+49%).
- The RSI rising from 58 to 62 signals increasing bullish momentum.
Ripple Expands as XRP Breaks Out
XRP has surged 12% to $3.11 following Ripple’s successful acquisition of Money Transmitter Licenses (MTLs) in New York and Texas. These regulatory approvals mark a significant milestone, potentially opening doors for broader adoption and usage of Ripple’s payment solutions.
Bullish Indicators for XRP
Technical analysis suggests that XRP could be gearing up for further gains. A bull flag pattern has emerged, with a price target of $4.62 (+49%) if the breakout confirms. Additionally, the Relative Strength Index (RSI) has climbed from 58 to 62, reflecting growing bullish momentum.
Historically, when XRP experiences strong rallies, regulatory clarity and adoption play a major role. With these new licenses, Ripple strengthens its foothold in the financial sector, boosting investor confidence.
What’s Next for XRP?
If XRP maintains momentum and successfully breaks key resistance levels, the next major price target is $4.62. However, traders should watch for potential pullbacks and market-wide trends.
With Ripple’s regulatory progress and bullish technical signals aligning, XRP’s next move could be explosive.
