XRP Price Today: Can It Break Out or Will the Bearish Trend Continue?

The post XRP Price Today: Can It Break Out or Will the Bearish Trend Continue? appeared first on Coinpedia Fintech News

The crypto market has been all over the place recently, and XRP is no exception. While its wallet activity took a noticeable dive, other key metrics tell a more interesting story. Overall, the market has been facing a bearish trend, with uncertainty driven by Trump’s tariffs and economic turmoil. XRP has dropped to $2.06, marking an 11.9% weekly and 18.2% monthly decline. Despite this dip, analysts have mixed views on its future—some predict further drops, while others expect a major rally ahead. 

Wallet Activity Drops Significantly

XRP is having a rough time, slipping 0.3% today and dropping 11.9% over the past week. The token has also fallen 18.2% in the last month, now sitting 39.5% below its all-time high of $3.40 from 2018.

According to CoinMetrics report, XRP’s wallet activity dropped by a staggering 10.77% in just a week. This is the biggest decline among major altcoins, second only to Ethereum. In comparison, Bitcoin saw only a slight dip of 1.16%, making XRP’s drop even more concerning.

Meanwhile, not all coins faced the same fate. Chainlink (LINK) actually saw a 5.45% increase in wallet activity, and Cardano (ADA) remained mostly unchanged, rising by just 0.41%.

XRP Transactions Are on the Rise

Despite fewer wallets being active, XRP’s transaction count jumped by 25.5%. This suggests that while fewer people are using XRP, those who are making more transactions. In contrast, Bitcoin’s transaction count fell by 7%, showing a slowdown in activity.

Futures Trading Heats Up

XRP’s futures trading volume saw a massive 130% spike, meaning traders are still betting big on its price movements. However, open interest—the total number of outstanding futures contracts—dropped by 1.42%. This could mean that while more people are trading, they are closing their positions more quickly, possibly due to increased market volatility.

Market Struggles Weigh on XRP

The overall crypto market has been struggling due to economic uncertainty, and XRP has been hit hard. Its market cap has dropped by over 13%, showing that investors may be pulling out or reducing their holdings. While XRP’s transaction and futures activity remain strong, its declining wallet activity and market cap suggest that investor confidence might be shaky.

According to analyst CasiTrades, XRP’s April journey won’t be smooth. She predicts a price drop before a major rally, ultimately pushing XRP to a new all-time high. On the flip side, Ali Martinez sees a rebound, citing a bullish TD Sequential indicator. Meanwhile, Javon Marks takes it to another level, predicting a jaw-dropping surge to $99 if XRP mirrors its 2017 rally.

With the Ripple vs. SEC case nearing its conclusion and XRP ETFs on the horizon, April could be a game-changer. But with economic uncertainty looming, will XRP rally or slip further?