XRP Breaks Key Consolidation, Eyes $2.90 as Support Holds
XRP is gaining bullish momentum after breaking out of a prolonged consolidation wedge, says analyst Lingrid. Holding above the key $2.60 support could set the stage for its next upward move.
Lingrid notes that the breakout from the wedge signals a potential shift in market sentiment, with buyers gaining control after a period of indecision.
The $2.60 level has proven crucial, and if the support continues to hold, XRP’s momentum may extend toward the descending target line near $2.90. This move represents a key resistance point that, if breached, could open the door to further gains.
Technical indicators reinforce this bullish outlook. The consolidation wedge, a pattern marked by narrowing price swings, often precedes significant breakouts.
XRP’s ability to maintain its position above $2.60 suggests that buyers are actively defending this zone, preventing further downside. Volume patterns also show increasing interest, hinting that institutional and retail traders are positioning for a potential upswing.
What does this mean? Well, XRP’s breakout from its consolidation wedge signals a key technical milestone. Holding $2.60 is crucial for buyers, with $2.90 the next significant resistance to watch with the present price being $2.63.
French Politician Pushes Crypto Integration, Signaling a “New Monetary Order”
According to market commentator Xaif Crypto, French politician Éric Ciotti has taken a bold step toward mainstreaming cryptocurrency by introducing a bill aimed at integrating digital assets into France’s financial framework.
The proposed legislation positions cryptocurrencies not merely as speculative tools but as integral components of a “new monetary order,” reflecting a growing global trend of governments and policymakers rethinking traditional financial systems.
Ciotti, a prominent figure in French politics, argues that embracing digital currencies can enhance economic efficiency, modernize payment infrastructure, and attract technological innovation to France.
The bill envisions a regulatory environment that balances investor protection with flexibility for crypto innovation, aiming to position the country as a hub for digital finance in Europe.
Market observers note that Ciotti’s initiative comes at a critical moment. Cryptocurrencies have evolved far beyond niche investments, gaining traction among institutional players, multinational corporations, and even sovereign entities exploring central bank digital currencies (CBDCs).
By proposing legislation that explicitly incorporates crypto into the financial landscape, Ciotti signals a willingness to engage proactively with this shift rather than merely regulating reactively.
Xaif Crypto highlights that the bill could have far-reaching implications for both the European and global markets. France, as one of the European Union’s largest economies, could influence broader regional regulatory frameworks.
A successful adoption of crypto-friendly policies might encourage other nations to follow suit, accelerating the mainstreaming of digital assets and fostering cross-border adoption.
By providing clear legal recognition for cryptocurrencies and defining operational standards, the legislation aims to reduce uncertainty for market participants. This clarity could attract both retail and institutional investors, potentially fueling liquidity and driving adoption across a range of sectors, from banking and e-commerce to real estate and public services.
Conclusion
XRP’s surge above the $2.60 support signals a potential market shift, with buyers defending a critical level. Holding this support could pave the way toward the $2.90 target, offering traders a clear near-term upside.
If enacted, Ciotti’s bill could transform France into a digital-first economy, formally integrating cryptocurrencies within a regulatory framework, attracting innovation, investment, and potentially setting a global benchmark for crypto adoption.
