- Summary:
- XRP price has been on a sustained decline in recent weeks, but it has also experienced the strongest upturn of any crypto fundamentals.
XRP price traded downward on Wednesday, losing 0.28% and at $1.79 at the time of writing. The coin has been on a downward trajectory, reflecting the broader crypto and equities market performances as global trade tariff contagion strengthens. However, as discussed below, XRP is primed for an exponential growth once the trade war fears are out of the scene.
XRP price momentum has an underlying bullish sentiment as the coin has arguably had the best upturn in its fundamentals since Donald Trump’s election win. In mid-March the coin has saw the Securities and Exchange Commission (SEC) initiate the withdrawal of a four-year case against its issuer, Ripple Labs. Earlier, Trump had listed it alongside Solana (SOL), Cardano (ADA), Ethereum (ETH) and Bitcoin (BTC) for inclusion in a strategic Federal Cryptocurrency Reserve.
In the latest development, Ripple Labs reported on Tuesday that it had acquired crypto prime broker, Hidden Road in a $1.25 billion deal. Hidden Road also provides brokerage services in forex and precious metals. The company has been clearing $3 trillion worth of transactions annually for more than 300 institutions, including hedge funds, OTC desks, quant desks etc.
This is good news for XRP price momentum, as the acquisition will increase the coin’s utility for settling large volumes of transactions in secure blockchain ecosystem and at near-instant speeds. Notably, Hidden Road will deploy it’s native stablecoin, XRPL as collateral to settle transactions. The acquisition will likely see increased demand for XRP, with use cases beyond the traditional crypto ecosystem.
As things stand, XRP price could potentially experience explosive growth if and when the dark cloud of the global trade tariff war clears. However, its near-term performance will likely mirror the broader crypto market trajectory.
XRP Price Prediction
The momentum on XRP Price signals control by the buyers if the price stays above 1.78. That will likely see it encounter primary resistance at $1.85. However, the price could clear that hurdle and test 1.89 if the buyers extend their control.
On the downside, breaking below 1.78 will favour the sellers to take control. In that case, XRPUSD will go lower and could find the first support at $1.74. The upside narrative will be invalid if the price breaks below that level. Furthermore, a stronger downward momentum could take the price action lower and test $1.70
