(MENAFN- Crypto Breaking) XRP remains one of the leading digital assets, known for enabling speedy, low-cost cross-border payments and widely utilized within the Ripple ecosystem to facilitate global transactions efficiently. At press time, the coin is trading at $2.30, marking a 1.24% decline over the past 24 hours.

Regulatory Signals Capture Market Attention for XRP

The new focus on XRP arose this week after there was news that the most recent debate in U.S. Senate could introduce more transparent regulations on digital assets.

The issue has continued to gain momentum since a post made by an XRP community figure, JackTheRippler, called XRP Poised to Benefit This Latest U.S. Senate Action, solidified the emerging idea that legislative bodies might subsequently present legislation that would allow compliant blockchain payment systems and networks of utility to thrive.

The growing topicality of Decentralized Physical Infrastructure Networks (DePIN) was also a focus of community-driven commentary based on the regulatory optimism.

One of the posts that compared DePIN with Helium (HNT) highlighted the growing significance of community-powered digital infrastructure. All of these stories have contributed to reclaiming a wider focus around the coin and its potential usefulness, which is in line with current trends of blockchain functionality.

Technical Outlook Shows a Potential Move to $2.50

As per the 7-day chart provided by TradingView, XRP has entered a consolidation phase staying at the range of around 2.31, and the chart indicates that the 2.27 range supports the consolidations.

It has not yet shown any large test to test the market but the market structure would indicate that when the buyers are able to get back the resistance zone between the two levels of $2.54 and 2.66, the asset would be in a place to start soaring.

In case XRP does not drop, it will be able to attain further purchasing power with the entire market mood becoming optimistic, which might trigger the trend towards the much-hyped 2.50-level.

Traders and analysts have taken renewed interest in the token and were given further encouragement by strong social-media signals that the token's 7-day chart shows that all parties involved in the markets are awaiting a more decisive change in direction.

Overall, the moment the buyers resume their impetus to overcome the main range of resistance, XRP may grow towards the goal of 2.50 that is often discussed in the market. Although no such rally has yet been formed, the overall direction of sentiments, regulatory factors, and technical aspects all indicate an opportunity to the upside in the short term on XRP.

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