XRP Faces Bearish Trends despite Positive Developments
Despite several positive updates, XRP’s price has struggled this year. It’s currently at $2.08, down 40% from its peak. The market cap has fallen from $190 billion in January to $121 billion.
Teucrium launched the 2X Long Daily XRP ETF (XXRP), attracting over $24 million. Companies like Grayscale and 21Shares have applied for spot funds, with a 77% chance of SEC approval, according to Polymarket. President Trump also highlighted XRP for the U.S. strategic reserves, boosting its potential demand.
the SEC dropped its 2020 lawsuit, ending a long legal battle. This could help Ripple partner with U.S. banks and money transfer firms. Ripple’s technology is faster and cheaper than SWIFT, attracting interest from major players.
Ripple acquired Hidden road, a prime broker managing $10 billion daily. This could shift transactions to the XRP Ledger.
technically, XRP is under pressure, below the 50-day EMA and a descending trendline. A falling wedge pattern suggests a potential bullish breakout,targeting $3.40, then $5. A drop below $1.6110 would invalidate this outlook.
