Key Takeaways
- XRP CME futures listing could boost price ahead of crypto marga rally in months to come with ETF spot approval.
- The XRP price could retest a low of $2.8 to $2.6 if the 50-day EMA, which acts as support, fails to hold the price.
- XRP continues in a range-bound movement as the price is still actively bullish despite market uncertainty.
| Token Name | Solana (SOL) |
| Current Price | $3.1 |
| Market Capitalization | $179.8B |
| Total Circulating Supply | 57.56B XRP |
| Daily Support | $2.6 |
| Weekly Support | $2 |
| 7 Days Performance | -7% |
The price of Ripple (XRP) has dropped from a high of $3.4 to a region of $3 as the price could be heading back to its December low of $2.8, where XRP bulls were able to form strong support for price following its bullish price rally a few weeks back as the price of XRP broke out of its bullish price action.
Despite rumors that Donald Trump included XRP into the US strategic asset reserve in the past few days, these have had little to no effect on the price of XRP as the price looks weak with low volume to sustain its earlier price rally.
With the current market price action experienced across the crypto market for the past few days, there is little momentum around the prices of crypto assets. The price of Bitcoin has also seen a bit of sell-off from a high of $109,000 to a region of $101,000.
With Bitcoin’s price looking weak and likely to trade around $95,000 in the coming days or weeks, we could see the price of altcoins such as XRP drop towards its low of $2.8, which looks solid for price to hold ahead of a continuous rally.
There have been new developments for XRP. CME plans to list trading of XRP and SOL on futures, which could become a game changer for the Ripple (XRP) ecosystem and crypto enthusiasts.
Why Is XRP Going Down Today?
Source – XRP On-chain Data From Santiment
Data from Santiment analytics dashboard for XRP shows a decline in price, active wallets, and volume across all platforms compared to previous weeks. This led to XRP rallying to a high of $3.4, with much expectation of a price rally to $5.
With these key factors pushing the price of XRP to decline, we could see the price drop to a low of $2.8 before the market continues in the long term.
Is The XRP Price Going To Rise?
Source – 4HR XRP Price Chart From TradingView
The price of XRP currently trades around $3 above its 50-day and 200-day EMAs (Exponential Moving Averages), which act as support for the price as it continues to struggle to hold above the high of $3.
If the 50-day EMA acting as minor support fails, XRP could retest a region of $2.8 or the daily support of $2.6 before continuing upward.
XRP’s price action is not bearish. If fundamental news or volume steps in, we could see the price bounce off these regions and rally more to the upside, potentially rallying from $4 to $5.
The overall trend for XRP remains bullish, as the price is still on course to a high of $5 and beyond in the current market cycle.
