The Securities and Exchange Commission (SEC) announced its decision delay for multiple AltCoin ETFs, including the Grayscale Spot XRP ETF, 21Shares Spot XRP ETF, WisdomTree Spot XRP XRP ETF, Position XRP ETF, and Canary Spot XRP XRP ETF.
Despite the long wait, the news seems to have had a positive impact On the crypto market and on the assets themselvespushing XRP prices in a short period of time by nearly 20%. Does this indicate that XRP is a stronger upward trend in the near future?
The existence of XRP
XRP, commonly known as Ripple, is a cryptocurrency that is a local token for XRP Ledger, an open source public blockchain. It was created to enhance global financial transfers and currency exchanges, providing transactions that are set in a small fraction within 3 to 5 seconds Current Price One cent per transaction. This makes it particularly suitable for cross-border payments and other financial operations.
Learn more: How to buy XRP?
Source: Corrugated
How does XRP work?
XRP Ledger runs in a consensus protocol that is different from the traditional proof of work (POW) and proof of verification (POS) mechanisms. It adopts a Byzantine tolerance consensus mechanism, which is verified by an independent validator node network, organized as a unique Node List (UNLS). Each participant in the network selects a set of trusted validators and when a set of transactions reaches a sufficiently large percentage, consensus is usually reached within 3 to 5 seconds, as shown Consensus Agreement.
This process is energy-efficient, avoiding the computational intensity of mining, designed to handle Byzantine failures gracefully, ensuring reliability even under adverse conditions.
Tokenomics XRP
Token details
- Stock: XRP
- Blockchain: XRP Ledger
- Consensus: XRP Ledger Consensus Protocol
- Total supply: 99,986,343,905 (approximately 100 billion)
- Recycled supply: 58,108,919,817 (approximately 58 billion)
- Maximum supply: 100,000,000,000
- Market Value/FDV: 0.58
- Fully diluted valuation: $229,314,433,355
XRP Utility
- Bridge Currency: XRP acts as a bridge currency in a ripple network, facilitating transactions between different fiat currencies. This can enable faster and more efficient cross-border payments by providing liquidity and reducing the need for pre-funded Nostro accounts.
- Liquidity regulations: Financial institutions and payment providers can use XRP to obtain on-demand liquidity, thereby reducing the costs associated with maintaining a nostro account in various currencies.
- Transaction Fees: Each transaction on the Ripple Network incurs a small fee, which is in XRP, which is broken (i.e., removed from the loop). This mechanism helps protect the network from spam and incentivizes effective use of resources.
- Micro Payments and Remittances: Due to its fast transaction times and low fees, XRP is suitable for micro payments and remittance services, providing an affordable solution for transferring small amounts of funds worldwide.
Token allocation XRP
Total supply and initial allocation
XRP’s total supply is 100 billion tokens, and no other tokens have been created since then. The initial distribution has been confirmed in multiple sources, with ripple labs holding 8 billion tokens (80%) and founders retaining 20 billion tokens (20%). Specifically, according to COINCODEX80% of the total supply was allocated to fintech company Opencoin, which later renamed Ripple Labs in 2013 and then named Ripple in 2015.
The remaining portion is allocated to three founders: Chris Larsen, Jed McCaleb and Arthur Britto, each receiving 9.5 billion and 1 billion tokens, totaling 20 billion.
Source: Messari
XRP Price Forecast
XRP Basic Analysis: Understanding its Potential and Future Prospects
Strategic partnerships with major financial institutions
Ripple has partnered with many leading banks and financial organizations around the world to optimize cross-border payment services. Famous partners include:
- Banks and Financial Institutions: Bank of America and JP Morgan use Ripple’s Xcurrent to optimize cross-border transactions.
- Exchanges and Stablecoins: Fixed, Bitstein, Peso, Monthly, Independent Reserves, Coinmena and Bullish are distribution partners of Rlusd Stablecoin Business Line.
- Academic Cooperation: Ripple and Berkeley Haas collaborate on comprehensive research on fintech.
- DFSA license paves the way for corrugated operations within the United Arab Emirates (UAE)
Learn more: Ripple gets license from DFSA to get events in the UAE
The positive impact of President Donald Trump’s policies
President Donald Trump announces the establishment of the United StatesStrategic cryptocurrency reserves”, including XRP, greatly increasing the value of the currency. After the announcement, XRP price rose from $2.00 to above $2.93, with trading volume reaching a record 19.1 billion XRP.
Resilience and growth potential
Despite the volatility of volatility in the cryptocurrency market, XRP’s all-time highest level (ATH) fell by only 39.8%, which is much less than many other cryptocurrencies. This resilience shows the growth potential of XRP when a positive market signal returns.
Building on strong strategic partnerships, support policies and impressive resilience factorXRP remains an attractive option for investors seeking crypto market opportunities.
Trump’s rise in the presidency has greatly promoted the huge price increase of XRP, establishing one of the best cryptocurrencies for XRP. In the current market downturn, the shift from government’s active policy can serve as a catalyst for the XRP revival.
An overview of XRP charts
Recent price trend analysis
XRP has experienced significant fluctuations over the past week:
- Decline in early March: The cryptocurrency market faces a downturn, with XRP falling below $2 for the first time since November.
- Recovery in mid-March: By March 12, 2025, XRP rebounded to $2.24, reflecting a 5% increase in its recent low.
- Current Stability: As of today, XRP continues to stabilize at around $2.29, indicating the merger phase.
What’s next on the XRP chart?
Source: TradingView
Source: TradingView
XRP showed strong price action after breaking key trend resistance, indicating a potential upward continuation. XRP can be expected to make a major upward movement as Bitcoin experiences rebound and signs of recovery in the overall cryptocurrency market.
Bitcoin recovery
Source: TradingView
Bitcoin is currently showing a strong rebound, which can provide good conditions for altcoins such as XRP to gain attractiveness.
- There is a bullish divergence in the H4 time frame as well as a stop to hunt, which suggests that the price may reverse after the price rises by $78,200.
- In the D1 time range, a position of scattered candles is formed, suggesting power. However, the additional green daily candle will better confirm the uptrend.
- Bitcoin currently faces H4 resistance of about $80,000 to $80,200, and a short-term pullback may lead to better long-term entry opportunities.
XRP technology analysis
Trend line breakout
XRP’s recent price action has led to a decisive breakthrough in the downward trend line, which has been a resistance. This breakout is a bullish signal that a momentum has changed.
Support and resistance levels
- Support now: $2.10 – $2.15 (recent grouped retest zone)
- Key resistance: $2.40 – $2.50 (next major supply area)
- If XRP can maintain a price above $2.20, the potential for further uptrends at $2.80 and beyond will remain strong.
Indicators confirm bullish sentiment
- RSI is heading towards bullish areas, indicating increased buying pressure.
- The number of breakthroughs has increased, confirming the large participation of traders.
- The MACD line is above the signal line, which is another confirmation of bullish momentum.
Expected price range target
- Short-term goals (scalp potential): $2.40 – $2.50.
- Medium-term goal (3 months from now): $2.80 – $3.00.
- Long-term goal (4-8 months from now): $3.50.
in conclusion
With the obvious breakthrough in the trend line and strong technical indicators, XRP seems ready to move further upside. Traders should pay attention to the confirmed branch area approximately USD 2.15 as a potential purchase opportunity. If Bitcoin continues to recover, XRP may gain more momentum and push it toward higher targets.
XRP Price Forecast: Will XRP recover its ATH? First appeared on NFT night.
