XRP Maintains Crucial Fibonacci Support as Traders Target $6.70 Surge with Growing Institutional Interest

Current Market Position: XRP is trading near the 0.618 Fibonacci retracement level at $2.58, a significant support zone where buyers are actively defending against selling pressure, with potential for a rally towards $6.70.

Institutional Interest: Reports indicate that Saudi Arabia may invest $10 billion in XRP, which could enhance institutional momentum and liquidity in the market, further supporting the bullish outlook for the cryptocurrency.

Technical Analysis: The weekly XRP/USD chart shows a consolidation phase, with traders watching for confirmation signals to sustain momentum above the Fibonacci support, while a secondary demand zone near $2.00 offers additional buying opportunities.

Long-Term Potential: Analysts view XRP as undervalued and suggest that the current market setup is attractive for long-term traders, with conservative targets in the double-digit range based on historical resilience and market structure.