XRP returns to 3 dollars and puts at the doors of a historical maximum

XRP exceeded 3 dollars after four months and confirms the rupture of the bullish flag that had been forming since November.

If you manage to maintain this impulse, the Ripple Labs cryptocurrency It could exceed its historical maximum (ATH) of $ 3.40 in the next few hours or days.

In the following graph provided by TradingView, the rupture of the bullish flag, a technical analysis figure that usually anticipates strong movements in the same direction as the previous trend is clear.

The appearance of this pattern generates optimism among investors, since it usually marks the continuation of an upward cycle with higher prices projections.

Now, it is worth asking what are the reasons that could lead to XRP to a price exploration zone.

The first and main thing is that the macroeconomic context continues to give positive signals. This is because financial speculators prefer A stable environment to invest in risk assets such as cryptocurrencies. When there is economic uncertainty or geopolitical tensions, they choose to place their holdings in safer instruments such as treasure bonds.

Here you also have to mention Bitcoin (BTC). The fact that the currency created by Satoshi Nakamoto is breaking ATH since July 9 generates a positive effect on the feeling of the market and reinforces the upward impulse in cryptocurrencies such as XRP.

For its part, Ripple Labs continues to carry out bank alliances. On July 9, the firm led by Brad Garlinghouse announced an association with Bny Mellon, the oldest financial entity in the United States, founded in 1784, as reported by cryptootics.

The agreement establishes that Bny Mellon will be the main custodian of Ripple Usd (RLUSD) reserves, its stablecoin that maintains parity with the US dollar that debuted in the market in December 2024.

In addition, on July 2 Ripple Labs submitted a request to obtain a national banking license in the United States. If approved, Rlusd would be under the supervision of the Office of the Comptroller of La Moneda (OCC), responsible for regulating national banks in that country.

The possibility of issuing and redeeming Rlusd at all times, even outside the banking schedule, represents a key advance to strengthen confidence in this stablecoin.

This takes on more relevance if one takes into account that Rlusd is available both in Ethereum and XRP Ledger networkswhose native currency is XRP.

If RLUSD adoption increases, activity within XRP LEDger could also be increased. That, in turn, would increase the demand for XRP to meet network commissions, which could translate into bullish pressure on its price.