The analyst discusses XRP's current market situation, referencing relevant fundamental developments and market impacts. Yesterday's updates indicated XRP was holding relatively well, anticipating a spike down unless good news emerged. Positive developments led to a breakout, reclaiming the range. Ripple got 500 million in funding, with a 40 billion dollar valuation. The raised valuation is below open market figures, but is still seen positively by the analyst and they don't expect super bearish news.. Positive developments in US liquidity have also been seen, as the VIX declines. The analyst anticipates a retest of 2.30 down to a monthly point of control at 2.25-2.23, before stabilizing and eventually rallying back to 2.47 and 2.53. Rejection at 2.40 has been noted.