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Highlights
- XRP fell 3% after hitting a 10-day peak at $2.60, now testing the $2.40 support level.
- Trump's proposed stablecoin legislation could enhance Ripple’s RLUSD adoption, benefiting XRP’s broader utility.
- Technical indicators show XRP consolidation, with upside resistance at $2.70 and downside risk extending toward $1.90.
Ripple (XRP) price tumbled below the $2.40 mark on Friday, down 3% from the $2.6 weekly time frame peak recorded after Trump’s appearance at the Blockwork’s Digital Asset Summit on Thursday. Market indicators suggest XRP traders are betting on the potential upside from accelerated RUSD adoption amid Trump’s call for stablecoin legislation.
Ripple (XRP) battling to avert $2.40 breakdown as Regulatory wins spark profit taking
After a torrid start to March 2025, recent developments between Ripple and US regulators has seen XRP gaining renewed investor attention.
This narrative was brought to the fore again on Thursday when U.S. President Donald Trump called for a stablecoin regulatory framework during his speech at the Digital Assets Summit hosted by Blockworks on Thursday.
In another event, the US SEC also dropped all charges against Ripple as CEO Brad Garlinghouse confirmed the 5-year long litigation was officially over.
The confluence of these two bullish catalysts saw Ripple price race to new 10-day peaks around $2.6, before a flurry of profit taking saw markets Tumble 3% to before settling around the $2.39 level at press time.
The longer lower shadow suggests bull traders are making active efforts to prevent a close below $2.40, likely to avoid major liquidations.
What does Trump’s Stablecoin mean for XRP and RLUSD Investors?
Trump’s stablecoin legislation is mainly aimed at establishing a structured regulatory framework for fiat-backed assets quoted in reference to the USD or backed by US treasuries.
Within the XRP army community, Trump’s speech has sparked speculation that Ripple’s RLUSD could benefit from the resulting regulatory clarity.
If the bill provides clear operational guidelines for issuers, regulatory clarity could drive capital inflows into XRP, strengthening its role in cross-border payments and liquidity solutions.
With Ripple already positioned as a key player in cross-border payments with partnerships with SWIFT, its RLUSD stablecoin could experience accelerated demand, if Trump’s policies clearer regulatory barriers to institutional participation.
XRP Price Forecast: Failure to Close Above $2.40 Signals Prolonged Consolidation
At press time, XRP price is currently testing a key resistance level at $2.40, with the 20-day EMA at $2.37 providing immediate support. Looking ahead, the 50-day EMA at $2.43 also poses crucial bearish hurdle.
A sustained close above the $2.43 level could signal renewed bullish momentum, setting the stage for a potential rally toward the $2.70 zone. However, with trading volumes trending flat, bulls lack momentum to push for major rallies within the current market dynamics.
Further more. The RSI Divergence Indicator stands at 50.37, pointing to a neutral stance where neither buyers nor sellers hold a clear advantage. Hence, XRP trading volume remaining moderate, reinforces the likelihood of continued range-bound movement unless another decisive catalyst emerges.
On the downside, failure to break above $2.40 may trigger downside risks, likely extending the correction phases toward $2.30. Should this bearish scenario play out, XRP price could potentially retest the $1.90 support level.
Frequently Asked Questions (FAQs)
1. 1. Will Trump's stablecoin legislation impact XRP's price?
2. 2. What key levels should XRP traders watch?
3. Why did XRP drop after reaching $2.60?
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