XRP price consolidation faces severe challenges from Circle | Ripple market analysis

XRP current price movement On Tuesday (July 8), XRP price (XRP Price) hovered around $2.20, continuing the recent narrow price movement (Consolidation) pattern. The current price level has rebounded about 22% from the June low, and the overall sentiment in the cryptocurrency market has improved.

Core Bullish Logic: Disrupting SWIFT Cross-Border Payments The main bullish catalyst (Bullish Catalyst) for XRP lies in its parent company Ripple Labs' potential to challenge traditional cross-border payment giant SWIFT. SWIFT connects over 11,000 banks globally and processes more than $150 trillion annually. Ripple aims to disrupt this market through its RippleNet network and XRP Ledger technology.

How does RippleNet work? RippleNet utilizes blockchain technology to connect banks, payment providers, and other institutions, offering real-time payment solutions (Real-Time Payment Solutions). Its core components include:

• xCurrent: Software that enables real-time settlement between banks.
• On-Demand Liquidity (ODL - On-Demand Liquidity): Use XRP token as a Bridge Currency ( to provide instant liquidity for Cross-Border Transactions ).
• XRP Ledger: The underlying distributed ledger that records all transactions.
• xVia: A standardized interface for simplified access.

After resolving the lawsuit with the SEC of the United States, Ripple is facing a significant opportunity. However, it is facing strong competition from the stablecoin giant Circle Internet Finance.

Circle's Challenge: Advantages of Payment Networks and Stablecoins Circle (issuer of USDC and EURC stablecoin) recently launched the Circle Payment Network (CPN - Circle Payment Network). This network simplifies global payments using its fiat-pegged stablecoins:

• Connect Financial Institutions: Supports instant settlement using USDC, EURC, and Fiat (Fiat).
• Disrupting the SWIFT Model: Avoid multiple intermediaries of traditional correspondent banks (Correspondent Banks), addressing their pain points of slow speed and high costs (especially on weekends).
• Ecosystem Expansion: CPN has partnered with institutions such as Nuvei, BVNK, Yellow Card, and Triple A.

Key Advantages of Circle Compared to Ripple

1. Broader Network Coverage: CPN leverages the existing vast ecosystem of stablecoins and partners.
2. Stronger institutional reputation: Circle has not been involved in major legal disputes, resulting in higher institutional trust.

XRP price technical analysis

• Daily Chart ( shows that the price movement of XRP has rebounded from the low of $1.9141 in June to $2.20.
• The current price is consolidating around the 50-day EMA and 100-day EMA, with reduced volatility.
• The pattern forms a Symmetrical Triangle Pattern ), with two trend lines about to converge, indicating a Potential Bullish Breakout (.
• MACD indicator has crossed above the zero line, Relative Strength Index )RSI( has risen above 50.
• Technical signals lean bullish, if successfully broken, Upside Target ) may point to the yearly high of $3.50, XRP price movement is slightly optimistic in the short term.