- XRPL on-chain activity significantly benefited from the rising adoption of RLUSD Stablecoin.
- The XRP price describes a high touch with Bitcoin in the middle of the expected parabolic rally ahead.
After closing last week with a bearish perspective, the XRP price opened this week on a similar note. The large cap Altcoin, with a fully melted appreciation of nearly $ 214 billion and a 24-hour average trading volume of nearly $ 2.2 billion, dropped 6.6 percent in the last seven days to trade nearly $ 2.15 on Monday, May 5, in the Mid-North America session.
Ripple reported Q1 2025 XRP Markets
According to the Ripple Network's report in the first quarter of 2025, the XRPL Ledger recorded a 30-40 percent decline in both the new purse creation and the overall volume of the transaction. However, RLUSD's ongoing adoption has helped increase the overall on-chain activity on the XRPL ledger network.
“RLUSD appeared as an on-chain activity driver with a market cap of more than $ 90 million and aggregate DEX volume of over $ 300 million,” reports mentioned.
Ripple noted that taking Hidden Road in the first quarter helped measuring the XRP and RLUSD adoption. Moreover, the closing of the Sec VS Ripple case has helped attract more institutional investors, as the high number of fund managers seek to offer XRP ETFs.
Midterm expectations for XRP price
As a top-traded Altcoin, the XRP price has followed more compliant with Bitcoin price action over the past few weeks. Although the XRP price tries to recover the bullish sentiment at a higher time of time, Bearish's perspective is taking short -term risks of additional sale.
During the 4H time, the price of XRP continued to combine -combine within a horizontal channel between $ 1.9 and $ 2.9. The altcoin focused on the utility recently exploded from a falling logarithmic trend and formed a rising wedge pattern.
However, the XRP price signed a short-term bearish sentiment, especially after the 4H-MACD line crossed the bottom of the zero line. In addition, the 4h Kamag -child Index Index (RSI) forms a difference of bearish, thus signing a potential sale towards the support level above $ 2.
However, a constant near above the 50-day transfer of average simple (SMA) will stimulate bullish feelings towards $ 3.
