XRP price forms doji after bullish Ripple news, gains to be short-lived

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

The XRP price has formed a giant doji candlestick pattern, pointing to a potential relief rally after some positive Ripple news.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

XRP retested the important resistance level at $2, up about 20% from the lowest level this week. However, it remains roughly 43% below its highest point this year. The first notable XRP news came from Standard Chartered, which estimated the coin could surge from $2 to $12 over the next four years. Analysts cited Ripple’s growing role in the cross-border payments sector, which is currently dominated by SWIFT.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

The other top Ripple news was its decision to acquire Hidden Road, in a $1.25 billion deal. This acquisition will expand Ripple’s institutional reach by tapping into Hidden Road’s established customer base. Following the sell-off, XRP formed a giant doji candlestick, typically characterized by a long upper and lower shadow and a small real body. This pattern often signals a potential trend reversal, which helps explain the token’s bounce back toward the key $2 level. However, XRP price still faces some substantial risks ahead.