Fast Facts
TL;DR
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Price Decline: Ripple’s token $XRP recently dropped over 12%, rejecting resistance at $2.7 and settling below $2.35 after failing to secure a settlement in its lawsuit with the SEC.
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Buy Signals: The TD Sequential indicator shows multiple buy signals on XRP’s hourly chart, suggesting potential for a price rebound despite recent losses.
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Critical Support Level: XRP’s crucial support is at $2.38; breaching this level could indicate further declines for the token.
- User Growth Concerns: The XRP network is experiencing low user growth, with only 3,500 new wallets daily compared to Bitcoin’s 309,000 and Ethereum’s 112,000, raising bearish flags.
Ripple’s Price Takes a Hit, but Hope Sparks for XRP Holders
Ripple’s XRP token recently experienced a significant downturn. Over just three days, the price fell by about 11%, moving from a high of $2.7 to a low of $2.3. This decline followed a failed attempt to overcome a stubborn resistance point. However, there’s a glimmer of hope for XRP holders.
A technical indicator called the TD Sequential has shown multiple buy signals on XRP’s hourly chart. This suggests that the token may be poised for a rebound. Analysts, such as Ali Martinez, believe that this could mark a trend reversal. Such indicators offer potential optimism in an otherwise challenging market.
Adding to the complexity, Ripple faced a setback when Judge Torres rejected a motion to settle a lawsuit with the U.S. SEC. This legal decision created additional pressure on the token. Still, some analysts previously identified that XRP has fewer resistance barriers to the $3 mark and beyond.
Despite the recent decline, XRP’s price history suggests resilience. However, the average daily creation of new wallets is concerning. Currently, XRP sees about 3,500 new users per day, significantly lower than competitors like Bitcoin and Ethereum.
While the market faces challenges, the potential for a rebound remains. XRP continues to experiment with innovative solutions in cross-border payments. As the digital currency landscape evolves, XRP’s unique value proposition may yet attract additional attention and usage.
TL;DR
Ripple’s cross-border token was recently rejected at a multi-month peak line of around $2.7 and now sits below $2.35. Despite this double-digit price drop in the matter of just a few days, a certain technical indicator has flashed a buy signal, which could lead to a trend reversal.
$XRP appears ready to rebound as the TD Sequential presents multiple buy signals on the hourly chart! pic.twitter.com/vnw7jgrZVq
— Ali (@ali_charts) May 17, 2025
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