XRP Price Prediction After Closing the SEC vs Ripple Case: Will XRP/USD Reach $3?

After closing last week with a bearish outlook, XRP price opened this week on a similar note. The large-cap altcoin, with a fully diluted valuation of about $214 billion

After closing last week with a bearish outlook, XRP price opened this week on a similar note. The large-cap altcoin, with a fully diluted valuation of about $214 billion and a 24-hour average trading volume of about $2.2 billion, dropped 6.6 percent in the last seven days to trade about $2.15 on Monday, May 5, during the mid-North America Session.

According to Ripple’s XRP network report on the first quarter of 2025, the XRPL ledger recorded a 30-40 percent decline in both new wallet creation and overall transaction volume. However, the continued adoption of RLUSD helped increase the overall on-chain activity on the XRPL ledger network.

“RLUSD emerged as one driver of on-chain activity with its market cap surpassing $90 million and cumulative DEX volume exceeding $300 million,” the report noted.

Ripple noted that the acquisition of Hidden Road during the first quarter helped scale the adoption of XRP and RLUSD. Furthermore, the closure of the SEC vs Ripple case helped attract more institutional investors, as seen by the high number of fund managers seeking to offer spot XRP ETFs.

As a top-traded altcoin, XRP price has largely followed Bitcoin price action in the past few weeks. Although XRP price has been attempting to regain bullish sentiment in the higher timeframes, the bearish outlook poses short-term risks of further selloff.

In the 4H timeframe, the XRP price continued to consolidate inside a horizontal channel between $1.9 and $2.9. The utility-focused altcoin recently broke out of a falling logarithmic trend and formed a rising wedge pattern.

However, the XRP price has signaled short-term bearish sentiment, especially after the 4H-MACD line crossed below the zero line. Additionally, the 4H Relative Strength Index (RSI) has been forming a bearish divergence, thus signaling a potential selloff towards the support level above $2.

However, a consistent close above the 50-day Moving Average Simple (SMA) will rejuvenate bullish sentiment towards $3.

News data source: kdj.com

The above is the detailed content of XRP Price Prediction After Closing the SEC vs Ripple Case: Will XRP/USD Reach $3?. For more information, please follow other related articles on the PHP Chinese website!