XRP has rebounded to $2.18, overcoming an hourly death cross signal. Meanwhile, Ripple USD (RLUSD) trading volume has plummeted by over 60% following a halt in minting activity.
Analysts suggest XRP may trade between $2.15 and $2.25 in the short term, demonstrating resilience despite cautious broader market sentiment.
As of this writing, XRP trades at $2.18**, marking a **0.2% increase** over the past 24 hours. The cryptocurrency staged a strong recovery after dipping to **$2.06 on Thursday, signaling renewed bullish pressure.
Ripple USD (RLUSD) Faces Sharp Trading Volume Decline
While XRP shows strength, Ripple’s stablecoin RLUSD has seen a dramatic drop in market activity.
- Trading volume fell 60%+, now hovering around $42 million.
- Minting paused for over 41 days, suggesting reduced demand or a strategic supply cap.
Market observers speculate that lower RLUSD activity could impact liquidity in XRP Ledger (XRPL) ecosystems, including decentralized exchanges (DEXs) and dApps.
Despite launching as a competitor to USDT and USDC, RLUSD’s decline hints at stalled adoption. However, XRP’s valuation remains decoupled from RLUSD, driven more by investor sentiment and transactional utility in cross-border payments.
XRP Price Analysis: Key Levels to Watch
Over the past week, XRP consolidated between $2.09 and $2.28, reflecting a 313.9% year-over-year gain.
Technical Outlook:
- Death Cross Reversed: Despite the bearish hourly SMA 50/200 crossover, XRP defended key support and surged with 70% higher trading volume ($3.5 billion in 24 hours).
- Critical Resistance: $2.19** (aligned with the 200-hour SMA). A breakout could retest **$2.28 (recent high).
- Support Zone: $2.15 has held firm, suggesting range-bound trading may continue.
Long-Term Prospects:
- A weekly close above $2.25** could reignite momentum toward **$2.40.
- Sustained high volume and support levels favor a mildly bullish short-term trend.
FAQs
1. Why did RLUSD trading volume drop?
RLUSD’s 60%+ volume decline stems from paused minting and potential waning demand, though Ripple hasn’t clarified the strategy.
2. How does RLUSD’s performance affect XRP?
XRP’s price remains largely independent of RLUSD, as its value derives from broader adoption in payment solutions.
3. What’s the short-term outlook for XRP?
Expect range-bound trading ($2.15–$2.25) unless bulls break $2.28** or bears push below **$2.15.
4. Is XRP a good investment amid market uncertainty?
XRP’s 313.9% YoY growth and resilience in consolidation suggest strong investor confidence, but always assess risk tolerance.
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