The price of XRP has dropped over 5% in the past 24 hours to trade at around $2.36, as the cryptocurrency market experiences a correction due to changes in US monetary policy. Despite this, XRP has been in consolidation mode for the past two weeks and has already begun a macro bull run after breaking out of a six-year consolidation period. Whale investors in XRP have accumulated more than 860 million coins worth over $2 billion this week, indicating their confidence in the cryptocurrency's future. The launch of Ripple Labs' fiat-backed stablecoin RLUSD has received strong support and is expected to increase XRP's liquidity and enhance cross-border payments. Technical analysis suggests that XRP's price may rebound towards its all-time high above $3.4 in the near term, but if the price falls below $2, it could invalidate the bullish sentiment. The ongoing Ripple vs SEC lawsuit may also be dropped under the upcoming Trump administration.



Other News from Today