XRP price forecast as Ripple USD (RLUSD) volume drops – Crypto News – Crypto News
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XRP price forecast as Ripple USD (RLUSD) volume drops XRP price forecast as Ripple USD (RLUSD) volume drops

Cryptocurrency

XRP price forecast as Ripple USD (RLUSD) volume drops – Crypto News

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8 months ago

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  • XRP has rebounded to $2.18, overcoming an hourly death cross signal.
  • The RLUSD volume has dropped over 60% amid halted minting.
  • XRP is likely to trade between $2.15 and $2.25 in the short term.

The price of XRP has shown notable resilience even as broader market sentiment remains cautious.

As of press time, XRP trades at $2.18, reflecting a slight 0.2% increase over the past 24 hours.

The cryptocurrency rebounded sharply after falling to $2.06 on Thursday, recovering most of the intraday losses and closing the trading session with signs of renewed bullish pressure.

Ripple USD (RLUSD) sees a steep volume decline

While XRP has been showing signs of strength, Ripple’s stablecoin, Ripple USD (RLUSD), has suffered a sharp drop in market activity.

The trading volume for RLUSD has declined by more than 60%, plunging to around $42 million according to CoinMarketCap data.

According to market observers, the decline has been attributed to a pause in minting, as Ripple has not issued any new RLUSD tokens in over 41 days. This prolonged halt suggests either a strategic move to limit supply or waning demand for the asset.

The drop in volume has led to speculation about its potential impact on the XRP Ledger ecosystem.

Some analysts argue that lower RLUSD activity could reduce liquidity across decentralised exchanges and decentralised applications built on the XRPL.

Although RLUSD was introduced as a competitor to dominant stablecoins like USDT and USDC, the recent decline hints that user adoption may be stalling.

However, XRP has remained relatively insulated from this downturn, largely due to its broader utility in cross-border payments and remittances.

Despite the interconnectedness of the two assets within Ripple’s ecosystem, XRP’s price dynamics appear to be decoupling from those of RLUSD.

This separation reinforces the view that XRP’s valuation is being driven more by investor sentiment and trading activity than by RLUSD’s performance.

XRP price prediction

Over the last seven days, XRP has hovered within a tight range of $2.09 to $2.28, suggesting a consolidation phase.

Notably, it has registered a 313.9% gain year-on-year, a strong signal of underlying investor confidence.

Despite a “death cross” formation (the SMA 50 went below the SMA 200) on the hourly chart—a technical pattern typically interpreted as bearish—XRP defied expectations and staged a reversal.

XRP bulls, undeterred, successfully defended key support levels and ignited a recovery that coincided with an over 70% surge in trading volume, which reached $3.5 billion within 24 hours.

Death cross on the hourly XRP price chart

The strong volume support underscores that buyer interest remains active, even amid mixed technical signals.

Looking ahead, XRP’s price outlook presents a balanced mix of caution and optimism.

On the hourly chart, the asset is attempting to break past short-term resistance at $2.19, which aligns with the 200-hour simple moving average.

A successful breakout above this level could pave the way for another test of the $2.28 zone, which marked a recent high.

Failure to close above $2.19, however, may trigger a pullback toward $2.15, a range where XRP has shown stability over the past few sessions.

On the daily chart, XRP recently bounced off the $2.0777 support level, suggesting that bullish sentiment is not entirely exhausted.

Although momentum has slowed, the asset remains within a consolidation channel between $2.15 and $2.25.

Unless sellers gain control, this range-bound behaviour is expected to continue in the short term.

A strong weekly close above $2.25 could revive hopes for a push toward the $2.40 level, which would represent a fresh local high.

XRP price target

In the short term, as long as key support levels hold and volume remains elevated, XRP may continue to trade with a slight bullish bias in the coming days.
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