Marketing surge propels XRP's $6 billion one-day surge: could it seize the lead?

Cryptocurrency XRP, a significant player in the digital market, witnesses growing purchasing interest during the past 24 hours, edging closer to the $3 mark.

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2025 June 11 . 2:33 PM

2 min read

Cryptocurrency XRP, a key player in the digital market, is experiencing heightened interest and... — Cryptocurrency XRP, a key player in the digital market, is experiencing heightened interest and demand within the past 24 hours. This momentum could potentially propel its value up to the $3 mark.

Marketing surge propels XRP's $6 billion one-day surge: could it seize the lead?

Crypto Insights: XRP on the Rise, $3 in Sight?

XRP, the leading cryptocurrency, has been making waves with increased buying pressure, potentially hinting at a new rally towards the $3 mark. In just 24 hours, its market value shot up by around $6.25 billion, going from $127.97 billion to $134.22 billion. This dramatic increase can be seen in XRP's current trading price of $2.29, representing a daily increase of about 4% and a weekly rise of almost 6%.

Aiming for the $3 Level?

With XRP resting near the 50-day simple moving average (SMA), it's clear that this level plays a significant role in short-term trends. Moreover, its long-term uptrend is supported by the price staying above the 200-day SMA at $1.90. The Relative Strength Index (RSI) currently stands at 46.61, suggesting a neutral standing but hinting at potential for an upturn.

Could an Explosion Be Imminent?

Pseudonymous analyst Theodor Coin made an analysis on CoinMarketCap on June 8, highlighting XRP's consolidation in a tightening price range for the past two weeks. This pattern has historically set the stage for sharp moves. According to Theodor Coin, XRP's price being squeezed between $2.20 and $2.25 reveals weakening sellers but not yet overpowered buyers. A break above $2.27 could initially push the price to $2.90, setting the stage for the right shoulder of an inverse head and shoulders (iH&S) pattern, aiming for $3. However, a potential downturn below $2.20 could lead to the price dropping to $1.99, and in a worst-case scenario, to crucial macro support levels like $0.99.

Legal Battles and Upcoming Milestones

The ongoing legal feud between Ripple and the U.S. Securities and Exchange Commission (SEC) plays a vital role in XRP's price developments. Intriguingly, XRP-savvy attorney Bill Morgan has pinpointed June 16 as a crucial turning point. On this date, the SEC is expected to submit its brief to the U.S. Court of Appeals, which could mark the end of the 60-day process. If Morgan doesn't yield any progress on this case, both parties will initiate the discovery process, during which Ripple will need to provide new documents related to the case.

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As the Relative Strength Index (RSI) for XRP indicates a neutral standing but potential for an upturn, investors may envision a future where XRP breaks the resistance at $2.27, following Theodor Coin's analysis, and aim for the $3 level.
The potential for XRP to form an inverse head and shoulders (iH&S) pattern, along with the upcoming legal battles between Ripple and the SEC, could lead to significant fluctuations in XRP's price, emphasizing the role of technology in finance and investing, and the influence of blockchain assets like XRP.