XRP News: Will Ripple (XRP) Price Freefall to $1 or Surge to $3.5?

Jakarta, Pintu News – Ripple XRP3.87%->Current XRP PriceRp 37.7353.87%Market CapRp 2.308 TriliunTrading VolumeRp 262,59 TriliunCirculating SupplyRp 57,18 Miliar has fallen more than 35% from its January high, signaling that the bear market continues.

However, in the last two days, Ripple (XRP) has shown gains as the crypto market recovered, triggered by encouraging inflation data.

Franklin Templeton’s application for a new spot ETF also supported the rise, adding to investors’ optimism.

Check out the full news here!

Ripple (XRP) Price Technical Analysis

According to Crypto.news, the daily chart shows that the price of Ripple (XRP) has touched key support at $1.9275 this week. This support is crucial as the price has held above it several times since December last year.

Currently, a head-and-shoulders pattern is forming, with the head at $3.4 and the shoulders at $3, indicating bearish potential if the price falls below the neckline at $1.9275. The pattern suggests a risk of further downside, possibly down to the psychological point at $1, which also coincides with the 78.6% retracement level.

If the price falls below the neckline, it will confirm a bearish breakdown. However, if the price can rise above the right shoulder at $3 and this year’s high at $3.4, a bullish breakout will validate the head and shoulders pattern and open up further upside opportunities.

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Impact of ETFs and Institutional Support

Franklin Templeton’s application for a spot Ripple (XRP) ETF adds to the long list of firms that have filed similar applications, such as WisdomTree and Grayscale.

If approved, the ETF will increase liquidity and make it easier for institutional investors to invest in Ripple (XRP), which could boost demand and prices.

Additionally, Donald Trump’s identification of Ripple (XRP) as one of the tokens in the US digital coin reserve adds to the potential for higher demand. If the US government decides to use its balance sheet to acquire these coins, it will significantly boost Ripple (XRP).

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Ripple (XRP) Disruption Potential in the Payment Industry

One of Ripple’s (XRP) greatest strengths is its potential to disrupt the payments industry, which is currently dominated by SWIFT. Ripple claims its technology is superior to SWIFT as transactions only take seconds to complete and cost less.

The possible settlement of the lawsuit by the Securities and Exchange Commission (SEC) was also an important catalyst. The case’s conclusion will likely allow Ripple Labs to add more banking partners to its network. Some of the current partners include major companies such as Santander, HSBC, SBI Holdings, and Bank of America.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto News. Will the XRP Price Crash to $1 or Jump to $3.5 First? Accessed on March 13, 2025
• Featured Image: Coinpedia