How XRP Keeps Defying the Odds: $5? Who Knows!

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So, here we are. XRP—despite a parade of positive news—is still stuck in this bear market. It’s like you’ve got all this great stuff happening, but the price just doesn’t care. Classic, right?

Let’s break it down. XRP was sitting at $2.10 on Saturday—down a solid 40% from its peak this year. Its market cap? Yeah, that’s dropped from $190 billion in January to a measly $121 billion now. Oh, and currently, it’s trading at $2.08. (Because, why not?)

But hey, things aren’t totally bleak. XRP has had some, let’s call it, “exciting” news. First off, Teucrium launched the 2X Long Daily XRP ETF. Yeah, sounds fancy, right? And it’s already sitting on over $24 million in assets. Maybe it’s a big deal? I don’t know, I’m not a financial expert—I’m just a guy talking about it.

Then, there’s the whole “ETF party.” Grayscale, 21Shares, WisdomTree, Canary, and Franklin Templeton are all applying for spot funds. Apparently, the SEC’s gonna give them the green light. Polymarket thinks there’s a 77% chance of approval. So, that’s good. Unless, of course, you’re one of those 23% who are rooting for the drama to continue. Hey, it’s America.

Oh, and did you hear? Trump, yes, the former President, mentioned XRP. He said it’s going to be part of the U.S. government’s “strategic reserves.” Yeah, apparently that’ll increase demand for XRP. Why not? The government can never have too many “strategic reserves,” right?

And just when you think things couldn’t get weirder, the SEC drops its appeal from 2020. One of the longest-running crypto legal sagas is officially over. No more lawsuits, people. That’s gotta help Ripple cut some sweet deals with U.S. banks and transfer companies. Who doesn’t love a good deal?

And let’s not forget Ripple’s own stablecoin, Ripple USD, which has a market cap approaching $300 million. But who’s counting? Oh, right, everyone.

Recently, Ripple also went and acquired Hidden Road, a prime broker handling over $10 billion in assets a day. So, they’re probably thinking, “Hey, let’s move some of these transactions to the XRP Ledger.” Sure, why not? Let’s throw another thing into the mix!

XRP Price Technical Analysis

The daily chart? Yeah, still under pressure. XRP is hanging out below the 50-day Exponential Moving Average, like it’s just chilling there, thinking, “Do I really have to try today?” And the trendline—it’s descending, of course. I mean, why not add another line that says, ‘I’m not going up yet?’

But wait, there’s hope. XRP is forming a falling wedge pattern, which is, supposedly, a bullish reversal sign. Two descending trendlines. They’re narrowing. It’s all very dramatic. This could lead to a breakout. So yeah, maybe a big jump to $3.40, which is its highest this year. But don’t get too excited, the real test is if it can push past that. If it does, then maybe—just maybe—it’ll hit $5.

But here’s the catch. If it drops below $1.6110 this month? Forget it. The whole bullish thing? Yeah, not happening. So, let’s just sit back and see if we’re dealing with a breakout or a “whoops, we fell again” scenario. Always a fun ride.

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2025-04-19 19:42