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Ripple’s XRP dropped to $2.28 today, reflecting market volatility. Despite this, analysts remain optimistic about a rally toward $3, citing the liquidity boost expected from RLUSD and crucial support levels at $2.17.
Market Uncertainty Drives XRP Price Decline
Discussions in the market have been driven by the recent crypto market crisis, particularly today's steep decrease in the price of XRP. As market excitement skyrocketed owing to the RLUSD launch, XRP ETF expectation, and other good market movements, Ripple's native crypto was among the top-performing cryptocurrencies in recent days, Coingape points out.
Furthermore, with Donald Trump's backing for the digital assets sector, US-issued crypto has seen significant growth. Regardless, investors are talking about the recent drop in XRP and trying to figure out where the cryptocurrency is going.
Nevertheless, because of the encouraging events in the Ripple market, market professionals maintained their confidence in the asset even though its value dropped. According to The BitBoy, a well-known market figure, "RLUSD will drive billions of dollars in liquidity through XRP Ledger" and recently praised Ripple's stablecoin introduction.
RLUSD Liquidity Boosts Optimism for XRP Price Growth
He elaborated on the significance of RLUSD for Ripple's native coin in a different piece. On the other hand, he made the observation that "liquidity is king" in the digital assets arena and that "Stablecoins are the backbone" of the crypto market. Since RLUSD is expected to increase liquidity, the XRP price can see a spike in the future.
As of this writing, the price of XRP has fallen about 4% to $2.28, while the volume of its trades has fallen almost 7% to $21 billion. Strong selling pressure in the market is indicated by the fact that the cryptocurrency has struck a low of $2.17 over the last 24 hours. In addition, the recent 11% drop in XRP Futures Open Interest, as shown by CoinGlass data, reflects the pessimistic market attitude.
Key Support Levels Indicate XRP's Next Potential Targets
Despite this, leading analysts have shown key levels that XRP should be watching going forward. Key support for XRP is $2.3, according to a new X post by EGRAG Crypto. Assuming the cryptocurrency maintains its momentum and breaks through this level, its next targets are $2.62 and $3.28.
Another prominent analyst, Dark Defender, has predicted that XRP might fall to $2.17, expressing a similar view. The cryptocurrency, he said, will stay in the $2.17–$2.18 range until another spike. Nevertheless, he maintained his optimism over XRP's future run toward the $3 level, despite the short-term anxiety.
Market Volatility and Predictions for XRP Price
Another market analyst, Ali Martinez, has cautioned about impending volatility, though. Martinez stated in a recent X post that $20.5 million worth of "short positions will be liquidated" when XRP reaches $2.62.
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