Société Générale‘s SG-FORGE has become the first major European bank to deploy a euro stablecoin on XRPL as XRP (CRYPTO: XRP) retests breakout support at $1.41 with a $6 target in play.
The Societe Generale Validation
SG-FORGE deployed EUR CoinVertible on XRPL after previous launches on Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL), reinforcing its commitment to offering compliant crypto assets.
The integration leverages XRPL’s scalability, speed, and low cost while using Ripple’s custody solution for security.
The partnership extends beyond deployment. SG-FORGE will explore incorporating EUR CoinVertible into Ripple’s products and leveraging it as trading collateral, opening new use cases for the stablecoin within Ripple’s ecosystem.
Cassie Craddock, Ripple’s Managing Director for UK & Europe, said Societe Generale has long been a pioneer among European institutions building crypto offerings.
“Ripple is proud to have played a part in this journey as a long-standing digital assets infrastructure provider to SG-FORGE,” he said.
Jean-Marc Stenger, CEO of SG-FORGE, called the launch “a new step, reinforcing our commitment to offering next-generation, compliant crypto-assets that promote transparency, security, and scalability.”
The $6 Technical Case
XRP’s monthly chart shows a textbook breakout from a six-year symmetrical triangle that compressed price between a descending trendline connecting the 2018 high near $3.30 and 2021 high near $1.8, and an ascending trendline from the 2020 low around $0.17.
The breakout drove XRP to $3.84 before pulling back to $1.41—a classic post-breakout retest.
Current price returns to test the former resistance trendline, which now acts as critical support. The confluence of the broken trendline, horizontal support near $1.45-$1.50, and psychological level creates a high-significance demand zone.
The measured move projects $4-$6+ over the next 12-24 months.
For bulls, monthly closes must hold above $0.9 to keep the breakout intact. Breaking below on a monthly close would suggest breakout failure and open a revisit toward $0.60-$0.70.
Image: Shutterstock
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