Ripple: XRP not Making Popcorn Soon
XRP has recently risen significantly, alleviating concerns about falling below the $2 mark. The remittance token has reclaimed the $2.1 support line and attracted attention from analysts and investors, suggesting a broader recovery in the cryptocurrency ecosystem.
Expectations have increased for former President Donald Trump to reduce tariffs, further boosting the token’s recovery. Last week, he placed some reciprocal tariffs on goods from over 70 nations on hold and stated over the weekend that there would be no tariff increases on smartphones.
Simultaneously, the market reacted to the SEC and Ripple Labs’ recent filing to halt appeals and seek a negotiated settlement, following the dismissal of the SEC’s lawsuit against the company just weeks prior.
Additionally, Ripple’s payment of $1.25 billion to acquire Hidden Road led to a slight increase in XRP’s price. An executive from Ripple indicated the business would attempt to transfer the $10 billion in daily volume from Hidden Road to the XRP Ledger. XRP has faced resistance at the 50-day Exponential Moving Average and faces a critical technical test.
Price action
XRP’s momentum is mildly bearish, and to hope for an ATH, it will be necessary to stay above the $2 level and break the bearish trendline. If Bitcoin resumes falling again, XRP may stall around $2 and experience bearish volatility towards the next support at $1.5.
A close above the most recent high at $3.4 before the end of next month would allow the momentum to continue with ascending lows and highs. The RSI has been trending downward since December.XRP could gain bullish momentum if the bearish trendline were to break, although sellers currently hold the momentum advantage,
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