Key Highlights:
- Rumors indicate that the XRP Ledger is being tested for the European Central Bank’s digital euro project.
- Analysts predict an incoming price surge for XRP to new heights amid these rumors.
- Institutional interest and stablecoin integration fuel XRP’s long-term use case.
XRP has once again found itself at the center of attention. Rumors have begun swirling all over the internet about the European Central Bank (ECB) testing the XRP Ledger. The ECB is reportedly interested in using the XRPL for its upcoming digital euro initiative.
As expected, optimism is high, despite official confirmation being absent. The buzz has reignited XRP price predictions, and analysts predict price targets between $5 and $23 for the cryptocurrency.
Why XRP Price Prediction is Gaining Traction
The excitement started when crypto influencer Amelie posted a tweet referencing an unverified source. The X post claimed that the ECB was quietly testing the XRP Ledger for a digital euro integration.
These reports have not been confirmed yet by the Frankfurter Stock Exchange or any official body. However, speculation is running hot, and attention on XRP is great.
The XRP Ledger is not new to moves like these. The network has processed over 3.3 billion transactions and supports thousands of active wallets. It has a reputation for speed and low transaction costs, making it a logical candidate for this initiative.
If it turns out to be true, that is. The ECB’s digital euro requires a blockchain that can process high transaction volumes quickly and securely. XRP Ledger fits that description. Also, if real-world testing is underway, it could be a game-changer for XRP adoption.
EURØP Stablecoin Launch Strengthens XRP Ecosystem
While the ECB rumors are still speculative, some tangible developments are already showing up on the XRP Ledger. For example, Schuman Financial, a licensed electronic money institution, launched EURØP.
It’s a euro-backed stablecoin on XRPL in May. The EURØP is regulated under French authorities and backed 1:1 with euros held in banks like Société Générale.
It is also a MiCA-compliant stablecoin, designed for scalable euro payments. Schuman aims to use XRPL to support real-world assets (RWAs), DeFi apps, and business payments.
The stablecoin’s launch indicates high trust in the XRP Ledger’s reliability. Also, the network has regulatory alignment within Europe.
Ripple’s And European Blockchain Adoption
Ripple, the major contributor behind the XRP Ledger, sees these developments as validation of their efforts over the long term. Europe’s MiCA regulation motivates institutions to engage more actively in digital asset infrastructure.
Company officials say this framework provides clarity and confidence for long-term investment. Ripple has long positioned the XRPL as an enterprise-grade blockchain.
It supports fast, green, and cheap transactions, which are great qualities for regulated finance. With the EURØP now live and speculation swirling around ECB testing, XRP is drawing attention from everyone.
Analyst Predicts New Highs For XRP Price
XRP recently hit a multi-year high above $3.60, with its market cap briefly beating that of McDonald’s. However, the rally appears to have cooled, with the cryptocurrency now experiencing a slight pullback from its peak.
XRP couldn’t hold its position above the $3.65 resistance level. This prompted short-term traders to lock in profits and exit their positions.
However, the charts show that the main resistance level to watch out for is the $3.65-$3.70 range. If XRP manages a rally, higher levels at $4.00 and even $4.80 will open up for the taking.
On the downside, the first support is the 20-day EMA, which currently hovers near $3.00. A bounce from this level would indicate strong buying interest on dips and a re-test of the recent highs.
However, if this support zone fails too, a stronger one sits at around $2.80. A failure at this point would lead to a correction towards $2.60.
Despite the recent dip, the overall sentiment is still optimistic. Analysts believe that the XRP may break above the $3.65 resistance. It could see targets as high as $5.25 or even $6.19 based on Fibonacci extensions.
Larger-timeframe predictions even show the cryptocurrency hitting $10 late this year. If the ECB’s testing of the XRP ledger turns out to be verified, XRP’s bullishness may only be starting.