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XRP price has dropped by 5% today as bearish on-chain metrics and technical indicators weigh heavily on the altcoin. Over the last 24 hours, XRP’s price fell by 4.8%, aligning with a broader market decline that saw the total crypto market cap slide by 6.5% to $3.35 trillion. The price drop was accompanied by a 114% surge in trading volume, highlighting significant sell-side activity.What’s Behind XRP’s Price Decline?$4.5 Million in XRP Long Positions LiquidatedMassive liquidations in XRP’s derivatives market have fueled the price decline. Data from CoinGlass shows that over $12.92 million worth of long positions were liquidated in the past 24 hours, compared to only $3.86 million in short positions. This forced selling has intensified the downward pressure.These liquidations mirror the $72.6 million in long liquidations seen between Dec. 18 and Dec. 20, which led to a 23% price drop, bringing XRP to a low of $1.95.Adding to the bearish sentiment, XRP’s funding rates have turned negative, dropping from 0.21% on Jan. 7 to -0.11% on Jan. 8. A negative funding rate indicates increased short interest and declining demand for long positions, with open interest dropping by $300 million in the same period.Long-Term Holders Offloading XRPOn-chain data reveals that long-term holders are contributing to the sell-off. According to Santiment, XRP’s Dormant Circulation Supply (356D)—tracking tokens unmoved for over a year—spiked from 8.3 million on Jan. 4 to 208.3 million by Jan. 7.This suggests long-term investors sold over $467 million worth of XRP, adding significant selling pressure and contributing to the 7.2% price drop since Jan. 4.Key Technical Levels to Watch for XRPXRP’s price continues to face resistance at the upper boundary of a descending parallel channel, currently at $2.45. If bulls fail to flip this level into support, the altcoin risks further decline to $2.15, supported by the 50-day Simple Moving Average (SMA). A break below $2.15 could lead to a deeper drop toward $2.00.The Relative Strength Index (RSI) currently sits at 53, suggesting a neutral stance, leaving room for a breakout in either direction. XRP needs to overcome the $2.45 resistance level for a bullish reversal.Outlook for XRP PriceDespite the current bearish momentum, some analysts remain optimistic. Crypto analyst Steph Is Crypto predicts XRP could still break out of its bull flag formation and potentially reach $5.60.Market Sentiment and TrendsThe ongoing price movement underscores the influence of derivatives market dynamics, long-term holder activity, and key technical levels. Traders are advised to monitor XRP’s funding rates, trading volume, and resistance levels to anticipate future price action, according to Cointelegraph.

According to CoinDesk, the prospect of an XRP exchange-traded fund (ETF) is gaining traction as U.S. crypto regulations become more favorable for local businesses. Ripple President Monica Long expressed optimism in a recent Bloomberg interview, suggesting that an XRP ETF could soon follow the approval of bitcoin and ether ETFs. Long anticipates that the regulatory environment will accelerate the approval process for these filings, particularly with the recent change in administration. Ripple is also expanding its offerings with the RLUSD stablecoin, which is expected to be available on more exchanges imminently. This stablecoin, launched on Ethereum and the XRP Ledger in December, currently holds a market capitalization of $72 million. Ripple has integrated Chainlink's services to enhance its utility across decentralized finance (DeFi) protocols, further solidifying its role in the payments and money transfer sectors. In October, Bitwise Asset Management filed an S-1 with the U.S. Securities and Exchange Commission for an XRP ETF. Other firms, including Canary Capital, WisdomTree, and 21Shares, have also submitted filings for XRP ETFs, though decisions are still pending. The anticipation of a crypto-friendly Trump administration has fueled speculative optimism among traders, particularly for tokens linked to U.S.-based companies like Ripple Labs and Uniswap. Ripple has reported a surge in U.S. business deals, signing more agreements in the last six weeks of 2024 than in the previous six months. This uptick reflects a positive shift in the business environment following the election. XRP prices have surged over 300% since Trump's victory, outperforming other major cryptocurrencies, driven largely by the U.S. narrative.

{spot}(XRPUSDT) According to Cointelegraph, XRP is attempting to close a daily candle above its descending resistance trendline, which has previously limited the altcoin's price movement. A successful break above this trendline and the resistance range between $2.48 and $2.60 could signal a bullish breakout, potentially pushing the price above $2.72. Market analysts are optimistic about XRP's potential for a significant breakout in the coming weeks, although timing remains crucial. Veteran trader Peter Brandt recently highlighted on social media that XRP's half-mast flag pattern on the weekly chart could complete within the next six weeks. This pattern, which is neutral, can lead to either a bullish or bearish outcome. Brandt suggests that if the pattern completes bullishly, XRP's market cap could reach $500 billion, translating to a 262% gain or a price target of $6.40. However, he cautions that the pattern needs to progress soon to avoid transforming into a different formation. Another crypto trader, Mikybull, also sees an imminent breakout for XRP, noting a bull flag pattern on the 1-day chart. Using Fibonacci extension lines, Mikybull sets an immediate target of $3.74, with a long-term target as high as $15, representing a 514% increase from the current value. For XRP to achieve these bullish targets, it must first overcome the resistance range between $2.48 and $2.60, which has capped the price action multiple times. Despite the potential for a rally, Brandt's warning about a possible breakdown should be considered if the resistance persists. Dom, an order flows market analyst, notes that XRP has been in a mid-range for six weeks, with a point of control around $2.45 based on the Volume Weighted Average Price (VWAP) metric. He suggests that a daily close above $2.45 is crucial for breaking the $2.60 target, which would then bring the higher price targets of $3.74 and $6.40 into focus over the coming weeks. This article is for informational purposes only and does not constitute legal or investment advice. The views expressed are those of the authors and do not necessarily reflect the opinions of Cointelegraph.

{spot}(XRPUSDT) According to BlockBeats, a recent report from South Korean media outlet News1 reveals that Bitcoin continues to be the preferred cryptocurrency among South Korean investors. The survey also indicates that Ripple's XRP has surpassed Ethereum to become the second most popular digital asset in the country. The survey, conducted via the blockchain voting platform The POL, took place from December 24 to December 26, 2024, and included responses from 5,225 investors. The findings rank the top five cryptocurrencies in terms of popularity as follows: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Dogecoin (DOGE), and Bitcoin Cash (BCH).

According to BlockBeats, trader Peter Brandt stated on social media that XRP's current market pattern, known as the 'half-mast' formation, should be completed within six weeks to influence future trends effectively. Brandt noted that if this formation is not finalized promptly, it might evolve into an undefined pattern. He suggested that if the formation is completed, XRP's total market capitalization could potentially reach $500 billion.

According to Odaily, Ripple CEO Brad Garlinghouse has expressed a strong desire to collaborate with the new leadership of the U.S. Securities and Exchange Commission (SEC), sparking speculation about a potential dismissal or settlement of the ongoing lawsuit between Ripple and the SEC. Legal analyst Jeremy Hogan suggests that the case might be resolved by April or May, although procedural requirements could extend this timeline. Under the current administration, the SEC is expected to make a final push before the leadership transition. With the deadline for submitting opening statements set for January 15, the agency may attempt to influence the case's direction. However, industry experts anticipate that the incoming pro-cryptocurrency leadership could create a more favorable environment for Ripple, potentially paving the way for the approval of an XRP exchange-traded fund (ETF).

According to Binance data, XRP has surpassed USDT in market value, reclaiming its position as the third-largest cryptocurrency.XRP Market Value: $138.7 billion USDUSDT Market Value: $137.18 billion USD 

According to Odaily, Whale Alert has detected a significant transaction involving 300 million XRP tokens. The transfer, valued at approximately $649,772,203, was made from an unknown wallet to Ripple around 21:50 UTC+8 today.

According to Odaily, Ripple's Chief Technology Officer, David Schwartz, has shared insights on the company's latest product, the RLUSD stablecoin, which was launched earlier this week. In a video message posted on the company's official X account, Schwartz highlighted that RLUSD offers a valuable use case that benefits both users and developers, serving as a reliable asset designed to showcase the potential of the XRP Ledger.Schwartz emphasized that the stablecoin brings both direct and indirect advantages to the XRPL ecosystem. A direct benefit is the stimulation of active trading volume, with XRP itself acting as a bridge asset. He noted that XRP's unique capability to support various assets enhances the accessibility of decentralized exchanges on the XRPL.Furthermore, Schwartz stated that due to the distinct differences between the two assets, XRP and RLUSD will complement each other. The blockchain payment company plans to continue using XRP as a bridge in its proprietary products. Additionally, he underscored the promising future of the tokenized real-world assets (RWA) market, predicting continued growth and increasing demand for stablecoins, with RLUSD poised to dominate this market segment.

According to Odaily, cryptocurrency analyst AIi recently shared insights on the X platform, highlighting a significant potential market movement for XRP. AIi noted that if XRP's price rebounds to $2.62, it could lead to the liquidation of short positions valued at $20.5 million. This analysis underscores the volatility and potential for rapid changes in the cryptocurrency market, where price fluctuations can have substantial financial implications. Traders and investors are closely monitoring XRP's price movements, as reaching the $2.62 mark could trigger a wave of liquidations, impacting market dynamics and influencing trading strategies. The potential liquidation of such a large short position reflects the high stakes involved in cryptocurrency trading, where market participants must navigate unpredictable price swings. As XRP's price trajectory remains uncertain, market observers are keenly watching for any developments that could affect its valuation and the broader crypto market.

According to BlockBeats, recent data from Coinglass indicates that if XRP surpasses the $3 mark, short positions worth approximately $272.3 million could face liquidation, potentially leading to a short squeeze. As of the time of reporting, XRP has experienced a 24-hour increase of 14.7%, with its current price standing at $2.708. This significant price movement has captured the attention of investors and market analysts, who are closely monitoring the situation for further developments. The potential for a short squeeze arises when a rapid price increase forces short sellers to cover their positions, thereby driving the price even higher. This scenario could have substantial implications for the market dynamics surrounding XRP. The cryptocurrency market is known for its volatility, and such price movements can have a ripple effect across other digital assets. Traders and investors are advised to stay informed and exercise caution as the situation unfolds. The possibility of a short squeeze highlights the importance of understanding market trends and the factors that can influence price fluctuations in the cryptocurrency space.

According to Odaily, 21Shares has officially registered the 21Shares XRP Trust in the state of Delaware. This development was confirmed through an official document, marking a significant step for the company in expanding its cryptocurrency offerings. The registration of the XRP Trust indicates 21Shares' continued commitment to broadening its portfolio and providing investors with diverse options in the digital asset space. The establishment of the XRP Trust aligns with 21Shares' strategy to cater to the growing demand for cryptocurrency investment products. By choosing Delaware for the registration, 21Shares benefits from the state's favorable regulatory environment, which is known for its business-friendly policies. This move is expected to enhance the company's position in the competitive market of cryptocurrency trusts, offering investors a regulated and secure way to gain exposure to XRP. As the cryptocurrency market continues to evolve, 21Shares' initiative to register the XRP Trust demonstrates its proactive approach in adapting to market trends and regulatory requirements. This registration is a crucial step in ensuring that the company remains at the forefront of the industry, providing innovative solutions to meet the needs of its clients. The XRP Trust is anticipated to attract interest from investors seeking to diversify their portfolios with digital assets, further solidifying 21Shares' reputation as a leading provider of cryptocurrency investment products.

According to Cointelegraph, Ripple's Chief Technology Officer, David Schwartz, has cautioned about potential "supply shortages" and volatility surrounding the launch of Ripple's US Dollar-pegged stablecoin, RippleUSD (RLUSD). In a post dated December 15, Schwartz highlighted that the stablecoin might experience significant price fluctuations initially, despite its design to maintain a 1:1 parity with the US dollar. This volatility is attributed to several large orders for the token.Schwartz pointed out that some pre-market bids for the yet-to-be-released stablecoin were artificially inflating its value. He responded to a post showing 1 RLUSD valued at approximately 511 XRP, equivalent to $1,244 at current prices, on a Ripple wallet named Xaman. Schwartz remarked that someone seemed willing to pay $1,200 per RLUSD for a small fraction, suggesting it was more about the "honor" of purchasing the first RLUSD to hit the market. However, he reassured that the price would stabilize close to $1 once the supply normalizes, warning investors against succumbing to "FOMO" (fear of missing out) and emphasizing that this is not a get-rich-quick opportunity.On December 11, Ripple CEO Brad Garlinghouse announced that RLUSD had received final approval from the New York Department of Financial Services, with the official Ripple account indicating that the stablecoin would launch soon. Once available, Ripple intends to integrate RLUSD with XRP in its cross-border payment solutions to serve global customers, as stated in RLUSD's beta testing announcement. Ripple President Monica Long previously mentioned that RLUSD is designed to be "complementary and additive" to XRP.Ripple perceives RLUSD as beneficial for XRP, as the two will be paired to enhance liquidity and stabilize the stablecoin's price, preventing depegging. According to Ripple Labs CEO Brad Garlinghouse, RLUSD will primarily target large institutional players, aiming to leverage XRP's significant availability on exchanges to support RLUSD's liquidity.

According to Odaily, Georgios Vlachos, co-founder of the open-source interoperability platform Axelar, has indicated that Ripple's forthcoming RLUSD stablecoin could significantly increase the demand for XRP by 2025. Axelar serves as a standard bridge connecting the XRP Ledger with the XRPL EVM chain and 69 other blockchains.Vlachos highlighted that stablecoins are widely used by many users, including those in emerging economies, as a means of transaction and value storage. The RLUSD transactions and remittances are expected to be primarily settled on the XRP Ledger (XRPL) and the XRP-EVM sidechain. This settlement process is anticipated to drive up the demand for XRP. Vlachos explained that during these transfers, XRP is required to pay gas fees, which benefits XRP holders as a portion of XRP is destroyed with each transaction.

According to Cointelegraph, XRP experienced a significant rally in November 2024, driven by political factors and advancements within its ecosystem. Georgios Vlachos, co-founder of the Axelar open-source interoperability platform, highlighted the potential impact of the upcoming RLUSD stablecoin on XRP demand in 2025. Vlachos noted that stablecoins are widely used for transactions and as a store of value, particularly in emerging economies. The RLUSD stablecoin is expected to primarily settle transactions on the XRP Ledger (XRPL) and the XRP-EVM sidechain, thereby increasing demand for XRP. He explained that XRP holders benefit from these transactions as they require gas fees paid in XRP, which results in the burning of some XRP with each transaction. XRP reached a seven-year high of approximately $2.90 on December 3, 2024, before retreating to current levels. This pullback followed the Relative Strength Index (RSI) hitting 95, indicating an overbought condition. Despite this, several factors continue to attract investor interest in XRP as 2025 approaches. The cryptocurrency's rally was partly fueled by Donald Trump's electoral victory on November 5, which brought optimism to the crypto market due to his pro-crypto stance and the potential for a more favorable regulatory environment in the United States. Additionally, on November 25, asset management firm WisdomTree filed for an XRP exchange-traded fund (ETF), joining other firms like Bitwise, Canary Capital, and 21Shares, which have also submitted applications to the Securities and Exchange Commission (SEC) for similar ETFs. On December 1, XRP surpassed Solana in market capitalization, becoming the fourth-largest cryptocurrency. Data from CoinMarketCap shows XRP's market cap at approximately $138 billion, just under $2 billion short of Tether's market cap of around $140 billion. The New York Department of Financial Services (NYDFS) approved Ripple's RLUSD stablecoin on December 10. This dollar-pegged stablecoin will be overcollateralized by fiat cash reserves and short-term cash equivalents like US Treasury bills, and it will be redeemable at a 1:1 ratio with US dollars. Readers are reminded that this article does not provide investment advice or recommendations. All investment and trading activities involve risk, and individuals should conduct their own research before making decisions.

According to Odaily, Nexo's research analyst Iliya Kalchev has observed a significant rise in XRP's open interest, suggesting that this fourth-ranked digital asset may remain a focal point in the cryptocurrency sector for the foreseeable future. Kalchev interprets this surge as indicative of an expanding investor base and increased trading activity. A substantial increase in open interest is often seen as a sign of heightened speculative trading, as traders place bets on future price movements. This commentary from Kalchev follows a report by Cryptoquant analysts, which revealed that XRP's open interest had surged by over 30%, pushing the total open interest on major exchanges to $4 billion. However, analyst Maarten Regterschot has reportedly cautioned that this surge might be "leverage-driven," potentially increasing volatility risks. In a statement to Bitcoin.com News, Kalchev attributed this growth to favorable regulatory developments and a rebound in the cryptocurrency market.

According to U.Today, the cryptocurrency market experienced a significant liquidation event this week, with over $2 billion in long and short positions, primarily the former, being forcibly closed. This event continues to impact the market, with nearly $300 million liquidated in the past 24 hours. However, the nature of these liquidations is not as one-sided as before, as reported by CoinGlass. In the midst of this market turbulence, an intriguing anomaly has emerged in the trading of XRP, currently the third-largest cryptocurrency. In the last four hours alone, liquidations of perpetual futures on XRP amounted to $1.44 billion, with only $111,000 being shorts and $1.33 million longs. This represents an abnormal imbalance of 1,209%, highlighting the current sentiment surrounding the popular cryptocurrency. Most traders appear to be bullish on XRP in the short term, but the market is penalizing those with over-leveraged positions or those who entered the market late. While late sellers are present, they are in much smaller numbers. The roots of this unusual imbalance in XRP trading can be traced back to the price action of the cryptocurrency. Over the past two days, XRP's price has surged by over 30%, currently trading at $2.40. This bullish trend has been fueled by a remarkable 400% increase in XRP's price over the past few weeks, capturing the attention of the entire crypto market. Many investors saw this as an opportunity to capitalize on the upward momentum. However, as is often the case, latecomers and those who failed to manage their risk effectively were shaken off, with XRP experiencing only a 2.9% decline during today's trading session.

According to U.Today, a significant amount of XRP has been transferred over the past 20 hours, with Ripple, the San Francisco-based cryptocurrency giant, playing a major role in these transactions. In total, 640 million XRP were moved within a 12-hour period. The largest of these transactions involved Ripple transferring 380 million XRP to an anonymous blockchain address, valued at approximately $915 million at the time of the transaction. This movement has sparked interest and speculation within the community, particularly in light of the recent regulatory approval of the Ripple USD (RLUSD) stablecoin. Further details from the XRP-focused Bithump explorer indicate that the 380 million XRP transferred by Ripple was sent to an anonymous wallet associated with Ripple. In addition to this, another transaction involved the transfer of 200 million XRP, worth around $485 million, between two unknown wallets. Bithump confirmed that this transaction also occurred between wallets linked to Ripple. In total, Ripple was responsible for transferring 580 million XRP during this period. Moreover, an additional 60 million XRP, equivalent to $145 million, was moved between anonymous wallets. Overall, Whale Alert has reported a cumulative transfer of $1.5 billion worth of XRP. This activity coincides with a notable increase in XRP's market performance, as the cryptocurrency has seen a 25.74% rise over the past two days. This surge is attributed to the approval of RLUSD for listing on cryptocurrency trading platforms, with XRP's price rising from $1.92 to $2.24 at the time of reporting.