Could This Trendline Send It to $10?

TLDR

• XRP is testing a long-term trendline that has offered support since 2020.
• A confirmed breakout above resistance could open a path toward $6–$10.
• Analyst Steph Is Crypto flagged the trendline retest as a level worth watching.
• SBI Shinsei Bank now offers XRP rewards on six-month yen time deposits.
• XRP trades at $605.16 with a market cap of $80.58 billion.

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XRP is trading at $605.16 at the time of writing. The token’s 24-hour trading volume sits at $600.35 million, and its market capitalization stands at $80.58 billion, according to CoinMarketCap data.

The price has held steady over the past day. Traders are now watching a chart level that has mattered for years.

XRP is retesting a long-term trendline that has supported the price during past market cycles. This line first became relevant in 2020 and has held through several swings since then.

Crypto analyst Steph Is Crypto pointed out the retest in a post on X. The analyst said this trendline has provided support during major market moves and that the current interaction with it is drawing attention as buyers try to rebuild momentum.

If the trendline holds, XRP could build a stronger base for a recovery. That would set up conditions for another upward phase, according to the analyst’s post.

A confirmed breakout above the nearest resistance level could push the price toward the $6 to $10 range over the longer term. That outcome would need strong buying volume to follow through.

For now, holding the trendline is the immediate task. A failure to hold it could weaken the setup and open the door to more selling.

SBI Shinsei Bank Adds XRP Rewards

Steph Is Crypto also shared a second post covering a banking development in Japan. SBI Shinsei Bank is now offering XRP rewards to customers who join a deposit promotion.

Customers qualify by depositing at least ¥300,000 into a six-month yen time deposit account. The reward amount rises as the deposit size increases.

The bank has long-standing ties to Ripple and the XRP network through its parent company, SBI Holdings. This program builds on that relationship by linking a traditional savings product to a crypto reward.

Some claims online suggested Shinsei had converted large sums of savings into XRP. Those claims appear overstated based on the actual program details.

The rewards program is still a step toward folding crypto exposure into everyday banking products in Japan.

What Comes Next for XRP

The next move for XRP depends on whether buyers can push past the resistance tied to the trendline. A clean break higher would support the bullish case laid out by Steph Is Crypto.

A breakdown below the trendline could bring renewed selling pressure instead. Traders are watching this level closely for direction.

Meanwhile, the SBI Shinsei rewards program continues to run for customers who meet the deposit terms. It adds another route for retail users in Japan to gain XRP exposure through a bank rather than an exchange.

As of publication, XRP remains positioned at the trendline with the rewards program active for eligible depositors.

The post 6. XRP (XRP) Price: Could This Trendline Send It to $10? appeared first on Blockonomi.

Source: https://blockonomi.com/6-xrp-xrp-price-could-this-trendline-send-it-to-10/