TLDR
- XRP price is currently consolidating between $2.057 and $2.724, dropping to $2.23 on Wednesday (down 35% from 2025 highs)
- Daily Active Addresses have tripled to 530K on March 2, indicating increased investor interest
- Technical analysis shows a Head and Shoulders pattern suggesting a possible drop to $1 before reaching $5
- The newly launched Ripple USD (RLUSD) stablecoin has reached a market cap over $130 million
- The DC Blockchain Summit could be a potential catalyst for XRP price movement, while the ongoing SEC lawsuit continues to impact price
XRP is currently consolidated between $2.057 and $2.724, as investors watch key technical levels. The digital asset dropped to $2.23 on Wednesday, marking a 35% decrease from its highest level in 2025.
XRP is showing mixed signals to traders and investors. After touching a low of $2.23 in the past 24 hours, the cryptocurrency is now hovering around the $2.30 mark.
XRP Price
A key resistance level appears at the 20-day Exponential Moving Average (EMA) of $2.33. This level has been difficult for XRP to breach in recent trading sessions.
On-chain data reveals an impressive surge in network activity. According to Santiment, the number of active addresses in the last 7 days jumped to 1.19 million, a major increase from the year-to-date low of below 250,000.
This growth extends further when looking at the 90-day timeframe. The active addresses over this period have reached over 2.19 million, indicating expanding network usage.
Ripple RLUSD
One reason for this growth is the success of the XRP ecosystem. The recently launched Ripple USD (RLUSD) stablecoin has achieved a market cap of over $130 million in just three days.
Unlike many competing stablecoins, RLUSD has seen its daily trading volume increase in recent weeks. This suggests growing adoption of Ripple’s financial products.
Other key projects in the XRP Ledger ecosystem include Sologenic, Crypto Trading Fund, Coreum, and XRP Army. These projects contribute to the overall health of the network.
Technical Analysis
Technical analysis presents a cautious outlook for XRP’s price direction. The daily chart shows the formation of a Head and Shoulders pattern, a bearish indicator.
In this pattern, the head part is at $3.4, while the right and left shoulders sit at around $3. The neckline is positioned at $2, a critical support level.
If XRP drops below this neckline, it could enter what traders call the “markdown phase” of the Wyckoff Theory. This phase is often characterized by panic selling.
Crypto analyst Ali Martinez has warned about the consequences of breaking below $2. He notes that “Below $2, a gap with no strong support could pull it to $1.60.”
$XRP testing the waters! Below $2, a gap with no significant support could pull it to $1.60. pic.twitter.com/m85sXJGVCr
— Ali (@ali_charts) March 18, 2025
A Glassnode chart reveals an “air gap” in the UTXO Realized Price Distribution between $2 and $1.60. This means there hasn’t been much buying activity in this range.
For XRP to reach $5, it would first need to break above $3 and invalidate the bearish Head and Shoulders pattern. It would then need to turn the year-to-date high of $3.4 into a support level.
The ongoing SEC lawsuit against Ripple Labs continues to influence XRP’s price movements. Back in January, rumors that the SEC might withdraw its appeal caused XRP to rally to nearly $3.40.
Pro-crypto lawyer Bill Morgan has expressed concerns that the SEC’s extended silence on the matter could put increasing downward pressure on XRP’s price. Morgan believes that drawing out the case will hurt XRP’s value.
The upcoming DC Blockchain Summit could serve as a catalyst for XRP. The summit will bring together crypto personalities and US government officials to discuss digital assets.
Considering that Ripple is a US-based company, discussions at the summit could reveal Ripple’s role in positioning America as a crypto capital. This might positively impact XRP’s price movement.
