XRP Eyes Price Growth Amid Ripple’s Funding Initiatives for XRPL Development

Ripple's recent announcement of increased funding for the XRP Ledger (XRPL) is generating interest in its native token, XRP. This funding aims to support the development of compliant DeFi projects, enterprise adoption, and real-world asset tokenization on the XRPL. Analysts are monitoring XRP's price, which is consolidating near $1.40 after volatility in February with support established at $1.35 and potential resistance around $1.50–$1.60. If XRP breaks above $1.60, it could prompt an upswing towards higher resistance levels; however, a drop below key support levels could return the price towards the lower bound. The funding initiative by Ripple is seen by many as a strategic move to bolster the utility and demand for XRP while maintaining regulatory compliance, potentially positioning the XRPL for broader adoption in the institutional space. Traders and investors remain watchful for breakout signals as RSI and DMI indicators suggest a possibility for a change in the current trend.