Ripple (XRP) Surges by 7%... Aims for $1.55 on Stripe Payment Integration and Network Upgrade

▲ Ripple (XRP) ©Godasol

XRP (Ripple) jumped by nearly 7% in a day, reaching $1.47. Its utility expanded with integration into Stripe's payment tools, and with a key upgrade to the XRP Ledger (XRPL) imminent, it showed a steeper upward trend than the overall altcoin bullish market.

According to CoinMarketCap, a cryptocurrency market data aggregator, on September 21 (local time), XRP recorded a 6.93% increase over the past 24 hours, reaching $1.47. While the total cryptocurrency market capitalization grew by 4.42% and Bitcoin (BTC) rose by 4.62%, XRP showed a higher growth rate. CoinMarketCap cited increased payment utility and progress in network upgrades as key drivers for this surge.

On September 17, Ripple integrated XRP with Stripe's payment tools and Machine Payments Protocol, enabling artificial intelligence (AI) agents to pay for services with XRP. Additionally, the XRPL 'Batch V1.1' amendment, which supports processing multiple institutional transactions as a single operation, is set to be activated around September 29. Analysis suggests these two changes have raised expectations for increased XRP utility in the automation and institutional payment sectors.

The market sentiment of funds moving into altcoins also amplified the gains. CoinMarketCap's Altcoin Season Index rose by 4.17%, with Near Protocol (NEAR) surging by 21.13% and Sui (SUI) by 22.15%. XRP also rode the overall risk-on trend in the market, coupled with its individual positive developments. Its 24-hour trading volume increased by 13.31% to $3.75 billion, indicating expanded trading alongside the price increase.

Technically, XRP surpassed its 50-day Simple Moving Average (SMA) located at approximately $1.39 and also broke through the 61.8% Fibonacci retracement level of $1.42. If it maintains its closing price above $1.42, the next target is set at $1.55, near its August high. Conversely, if it drops below $1.36, where the 7-day Simple Moving Average is located, a retracement to $1.30-$1.32 is possible.

CoinMarketCap assessed that XRP's short-term trend is supported by increased payment utility, a technical upward structure, and altcoin strength. The key going forward is whether it can solidify $1.42 as support and challenge the $1.55 resistance. Additionally, whether actual on-chain and institutional adoption emerges after the activation of the Batch V1.1 amendment, scheduled around September 29, has been identified as a critical variable in determining the sustainability of the uptrend.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*