The XRP rebounded to $2.18 and overcame the hourly death cross-signal. RLUSD volume has decreased by more than 60% while mint stopped. XRP could trade between $2.15 and $2.25 in the short term.
The price of XRP shows significant resilience despite wider market sentiment.
As of press time, XRP traded for $2.18, reflecting a mere 0.2% increase over the last 24 hours.
The cryptocurrency recovered sharply after falling to $2.06 on Thursday, recovering most of its daytime losses and closing trading sessions under signs of new bullish pressure.
Ripple USD (RLUSD) is seeing a sudden decline in volume
While XRP shows signs of strength, Ripple’s Stablecoin, Ripple USD (RLUSD), has experienced a sharp decline in market activity.
RLUSD’s trading volume fell by more than 60%, plunging to around $42 million, according to CoinmarketCap data.
Market observers say the decline is due to a suspension of mint as Ripple has not issued new RLUSD tokens in more than 41 days. This long-term halt suggests one of the strategic moves to limit supply.
The decline in volume has sparked speculation about the potential impact on the XRP ledger ecosystem.
Some analysts argue that lowering RLUSD activity can reduce liquidity between distributed exchanges and distributed applications built on XRPL.
RLUSD has been featured as a dominant stubcoin competitor like USDT and USDC, but the recent decline is a hint that user adoption may be stalling.
However, XRP remains relatively insulated from this slump, primarily due to its broader utility in cross-border payments and remittances.
Despite the interconnectivity of the two assets within Ripple’s ecosystem, XRP’s price dynamics appear to be detached from those of RLUSD.
This separation reinforces the view that XRP valuations are more driven by investors’ sentiment and trading activity than RLUSD’s performance.
XRP Price Forecast
Over the past seven days, XRP has hovered within the tough range of $2.09 to $2.28, suggesting a consolidation phase.
In particular, it registered a profit of 313.9% year-on-year, making it a strong signal of trust from the underlying investors.
Despite the “Death Cross” formation (the SMA 50 fell below the SMA 200), XRP ignored expectations and reversed it on an hourly chart, a technical pattern that would normally be interpreted as bearish.
XRP Bulls successfully defended its key support levels, igniting a recovery coinciding with a 70% surge in trading volume, reaching $3.5 billion within 24 hours.
Strong volume support emphasizes that buyer interest remains active even amid complex technical signals.
Going forward, XRP price outlooks offer a balanced combination of attention and optimism.
On the hourly chart, assets are trying to break past short-term resistance at $2.19. This coincides with a simple moving average of 200 hours.
A successful breakout beyond this level paved the way for another test in the $2.28 zone, resulting in a recent high.
However, if you can’t exceed $2.19, you could trigger a pullback to $2.15, the range XRP has shown stability over the past few sessions.
On the daily charts, XRP has recently bounced back from its support level of $2.0777, suggesting that bullish emotions have not been completely exhausted.
The momentum has slowed, but assets remain within the $2.15-$2.25 integrated channel.
This range-bound behavior is expected to last in the short term, unless the seller gains control.
A strong weekly nearer above $2.25 could potentially revive hopes for a push to the $2.40 level.
In the short term, as long as key support levels are retained and volumes are rising, XRP could continue trading with slight bullish bias in the coming days.
