- XRP targets $5.85 as bullish wave begins, with key support at $2.30 and $2.22.
- Proposal suggests XRP could unlock $1.5T from Nostro accounts for US liquidity.
- US strategic plan envisions XRP for payments but contains Bitcoin supply errors.
XRP has started a new bullish wave after completing its correction phase across multiple time frames. Analyst DarkDefender suggests that the primary correction on the weekly, daily, and 4-hour charts has ended. Consequently, XRP has entered Wave 1, targeting a price of $5.85. Currently, the asset trades at $2.35, reflecting a 1.42% increase in the past 24 hours and a 5.94% rise over the last week.
With a circulating supply of 58 billion XRP, the asset’s market capitalization has reached $135.56 billion. While short-term fluctuations may occur, strong support levels at $2.30 and $2.22 provide a safety net for buyers. Resistance stands at $3.39 and $5.85, marking significant levels to watch for a breakout.
The primary correction on the weekly, daily frame and 4-hour structure is over for #XRP.
— Dark Defender (@DefendDark) March 17, 2025
There will be more minor ups and downs; we check daily in detail. XRP has started Wave 1 with an aim of $5.85.
Supports: $2.30, $2.22
Resistances: $3.39, $5.85
The upcoming weeks will be… pic.twitter.com/ygUK3mJhux
Strategic Proposal Suggests XRP as a US Financial Asset
A proposal advocating for XRP’s classification as a strategic financial asset has surfaced on the SEC’s website. The document, submitted by Maximilian Staudinger to the SEC Crypto Task Force, outlines the potential economic benefits of integrating XRP into the US financial system.
The proposal claims that XRP could serve as a payment asset, unlocking up to $1.5 trillion from Nostro accounts. Nostro accounts, which facilitate cross-border transactions, hold a global balance of $27 trillion, with US institutions controlling $5 trillion of these funds. The document suggests that XRP could replace 30% of the Nostro holdings, significantly improving liquidity efficiency.
Furthermore, it argues that XRP’s adoption as a financial rail could save the US economy up to $7.5 billion annually. The plan envisions XRP being used for state-level payments, including Social Security transactions.
However, specific implementation details remain unclear. The proposal also suggests that the $1.5 trillion unlocked from Nostro accounts could be used to purchase Bitcoin for the US strategic reserve. However, the document inaccurately claims that the US could buy 25 million BTC at $60,000 each, which exceeds Bitcoin’s total supply cap of 21 million coins.
