XRP holds $2 support as chart pattern hints at 73% gain

XRP (XRP) stabilized near its $2 support after todays marketwide sell-off sent the altcoin and several other cryptocurrencies close to their swing lows. Data now shows the XRP/USD pair exhibiting early signs of a bullish breakout.Ripples RLUSD integration could boost XRP priceRipples integration of its RLUSD stablecoin into its cross-border payments system, Ripple Payments, could significantly boost XRPs price by enhancing its utility and liquidity.On April 2, Ripple, the company behind XRP, announced that it had integrated its stablecoin into the company's cross-border payments system to boost adoption for Ripple USD (RLUSD).RLUSD, a USD-pegged stablecoin launched in December 2024, complements XRP by providing stability for transactions, while XRP serves as a fast, liquid bridge currency. This dual-asset strategy targets the $230 billion cross-border payments market, and ims to increase demand for both assets.Source: X / RippleRLUSDs market cap now stands at $244 million, with 87% growth in March alone, according to data from rwa.xyz. As adoption grows, financial institutions using Ripple Payments may rely more on XRP for liquidity, especially in volatile corridors.Pairing RLUSD with XRP on the XRP Ledger (XRPL) and exchanges could drive trading volume and activity on XRPLs decentralized exchange, tightening XRPs supply.Positive sentiment from RLUSDs success could also lift XRPs value, with analysts suggesting increased adoption might push XRP toward $3.50 or higher.Ripple's $RLUSD integration is a pivotal move for cross-border payments, said crypto market insights provider Alva in an April 3 post on X.As a result, optimism around $RLUSD soaring, with eyes on its ripple effect on XRP, Alva said, adding:Overall: A solid play for strengthening Ripple's ecosystem and pushing stablecoin adoption forward. Get ready for potential shifts!Related: How many US dollars does XRP transfer per day?XRP pattern points to $3.51 targetXRPs price action between Jan. 16 and April 3 has led to the formation of a symmetrical triangle pattern on the daily chart. The price is retesting the lower trendline of the triangle at $1.98, suggesting that a rebound could be in the making.Note that the price has successfully rebounded from this trendline two to three times in the past, with each retest leading to a significant price recovery.If a similar scenario plays out, XRP could recover from current levels and with good volumes, it may break above the triangles descending trendline at $2.40 (embraced by the 50-day SMA).The target is set by the distance between the triangles lowest and highest points, which would bring XRP price to $3.51, an approximate 73% gain from the current price.XRP/USD daily chart. Source: Cointelegraph/TradingViewSeveral analysts also share similar bullish outlooks for the altcoin, citing XRPs adoption, chart technicals and theend of Ripples long-standing casewith the SEC as the reasons.Citing a chart similar to the one shared above, XRP investor Steph Is Crypto said the price was heavily compressing before a massive breakout.This breakout will create many new millionaires!Using Elliott Wave theory, crypto analyst Dark Defender shared an optimistic price prediction for XRP, saying that the tokens correction in the monthly timeframe will be over within weeks.His targets remain between $5 and $18 in the medium and long term.When #XRP hit $3.3999, we set a 5 Elliott Wave Structure and explained that XRP completed the Monthly 3rd Wave and entered into correction, Wave 4.We set the Wave 4 dip with a precision of $2.02.B is in action; we also have precise levels for B Wave. While everybody pic.twitter.com/CVlrkaVged Dark Defender (@DefendDark) April 2, 2025src="https://platform.twitter.com/widgets.js" charset="utf-8">According to CasiTrades, the XRPs relative strength index shows a bullish divergence on multiple timeframesand this signals a price bottom, and an upside target of $3.80.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.