XRP Primed for Long-Term Gains as Legal Clarity Emerges: BloFin Report

The XRP token has experienced an upward trend not seen in years, as its price surged massively, reaching a three-year peak of $1.2654.

The XRP price has broken past important resistance levels at $0.59971 and $0.69043, showing strong upward movement. Ripple is now trying to reach the next big level at $1.03.

As the native token of the Crypto.com ecosystem, Cronos (CRO) stands as one of the largest cryptocurrencies globally, boasting a market cap of $4.28 billion.

The Ripple community is elated as speculations over XRP's possible collaboration with Hedera (HBAR) and Goldman Sachs have been on the rise.

Brazil was the first to approve the world's first XRP spot ETF, and XRP prices rose! According to Brazilian media PortaldoBitcoin, the Ripple (XRP) spot ETF application submitted by digital asset management company Hashdex in Brazil has been approved by the Brazilian Securities Commission (CVM), becoming the world's first approved XRP spot ETF. Although the ETF's listing date on the Brazil Stock Exchange (B3) has not been announced yet, the news has triggered positive reactions from the market. Silvio Pegado, managing director of Ripple Las America, said the practical application value of XRP and growing institutional demand drive this result, and Brazil's move demonstrates its innovators in the cryptocurrency market and financial sectors.

XRP has shown a consistent pattern of price stability over several years. Its trading has been confined within two notable price ranges. The first range spans about 1,000 days, with prices moving between $0.20 and $0.80.

The crypto market fell sharply under the impact of the US imposing tariffs! Coinglass data shows that in the past 24 hours, the amount of liquidated in the cryptocurrency market exceeded US$2 billion, of which the long orders were liquidated in US$1.81 billion, and the short orders were liquidated in more than US$288 million, with more than 710,000 affected users. Bitcoin's continued decline is the main cause. Ethereum fell below $2,100 and other mainstream cryptocurrencies performed weaker. Ethereum price fell to $2,086 at one point, hitting a new low since August last year. Although it has rebounded above $2,400, the 24-hour decline is still more than 20%. Solana approaches January low SOL price also fell sharply, hitting a low of $175, approaching January low

Technical and fundamental reasons have helped Ripple's XRP go into a bullish trend. CoreCrypto1, a crypto analyst on TradingView, noted on the weekly chart