XRP price has registered a modest 1.8% increase in the past 24 hours, trading up near $2.80. With the market recovering, XRP has managed to attract fresh attention as new structures form on the charts. Meanwhile, the launch of the liquid staking token ‘mXRP’ has introduced an additional factor that could influence demand in the coming weeks.
XRP Price Builds Strength For Possible Rally Toward $5
The current XRP market value trades at $2.86, maintaining strength above the key $2.70 support level. This base has already been tested multiple times, showing resilience against renewed selling pressure.
Holding this line gives buyers the chance to extend toward the first ceiling near $3.19. A move beyond that opens the door toward $3.64, where earlier rallies struggled to advance.
Clearing both zones would shift focus toward the psychological $5 mark that remains a major objective. The structure closely mirrors a bullish pennant flag that previously triggered a rally of nearly 90% once the breakout was confirmed.
If the same pattern plays out, XRP could see a comparable move from its current zone, placing the next target well above the $5 threshold. Failure to hold $2.70, however, would open the risk of testing deeper levels before any rebound.
Yet, the repeated defense of this base strengthens the argument for a bullish continuation rather than a reversal. With each successful retest, the formation edges closer to a decisive breakout that could replicate the prior rally’s scale.
mXRP Launch Expands XRP’s DeFi Role With New Yield Options
The debut of the liquid staking token ‘mXRP’ introduces fresh opportunities for XRP holders to tap into DeFi. Built on XRPL EVM and powered through Axelar’s cross-chain bridge, mXRP allows staking with yields reaching up to 8%. This structure enhances XRP’s utility beyond transfers and positions it as an asset with added financial value.
The launch was supported by Midas in partnership with Interop Labs, expanding the scope of XRP integration. With mXRP accessible across more than 80 blockchains, its reach immediately strengthens adoption prospects. It also follows the introduction of the first XRP-backed stablecoin, showing a clear push toward greater tokenized financial products.
Together, these releases form part of a broader strategy to anchor XRP in decentralized applications. For holders, it means greater flexibility, additional yield options, and a stronger foundation for long-term use cases. As interest builds, XRP’s role in DeFi could grow beyond expectations.
Summary
XRP price has shown steady resilience by defending its $2.70 base. With clear upside levels in sight, the market structure favors continued strength. The mXRP launch adds meaningful utility that could further lift investor confidence. Together, these factors position XRP for a recovery phase that looks increasingly within reach.
