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The XRP price has slumped 1% in the last 24 hours to trade at $2.48 as of 2:50 a.m. EST on a 56% pump in trading volume to $8.8 billion.
The price of XRP surged following US President Donald Trump’s executive order establishing a United States Strategic Bitcoin Reserve and a digital asset stockpile, which includes XRP, SOL, and ADA alongside Bitcoin and Ethereum. The reserve consists of cryptocurrencies seized through asset forfeitures, ensuring no taxpayer costs, according to Trump’s AI and crypto czar, David Sacks
Trump executive order confirms $XRP as part of US Stock pile and Bitcoin as only reserve assets. pic.twitter.com/j8ezys3eAE
— TheCryptoBasic (@thecryptobasic) March 7, 2025
While the government isn’t purchasing additional assets yet, Sacks stated that budget-neutral strategies for acquiring more Bitcoin may be developed. Trump reiterated his commitment to making the US a global crypto leader, positioning digital assets at the center of his economic vision.
XRP Price Could Break Above The Bearish Channel For A Bullish Rally
Despite the recent decline, XRP remains in a critical price zone, with traders closely watching its $2.85 resistance level.
A breakout above this key barrier could ignite a rally toward $3.50, while failure to sustain momentum might lead to a deeper retracement toward the $2.05 – $2.17 support zone.
Over the past few months, XRP has displayed strong price action, breaking out of a descending triangle pattern, which signals the end of a consolidation phase.
Following this breakout, the price surged sharply before entering a downward-sloping parallel channel, where it has been oscillating between support and resistance. The lower boundary of this channel aligns with the $2.05 support zone, a critical area where buyers have stepped in multiple times.
XRPUSDT Analysis Source: Tradingview
The Relative Strength Index (RSI), a key momentum indicator, currently stands at 49.40, indicating neutral sentiment in the market. If momentum increases, it could push the RSI above the neutral level of 50, marking the beginning of bullish momentum, while a dip below 43.81 could indicate further weakness.
If buying pressure continues, XRP could break above $2.85 and challenge higher resistance levels at $3.50, with an extended target of $4.00. However, failure to maintain strength above resistance could result in a pullback, with $2.05 as a major downside cushion.
With upcoming price action likely determining its short-term trend, a breakout could spark a wave of buying activity, driving prices higher, while a rejection at resistance may lead to a retest of lower support levels. As traders anticipate the next move, XRP remains a key asset to watch in the crypto market.
Best Wallet Presale Heads Towards $11 Million – Next Big Crypto?
In the meantime, as the XRP price struggles around key resistance levels, investors are flocking to buy Best Wallet (BEST), whose presale has already surged past $10.8 million.
Best Wallet is rapidly establishing itself as a top-tier option for newcomers in the cryptocurrency space. Supporting over 60 blockchains, the wallet offers a built-in DEX, presale aggregator, and crypto debit card.
Its native token, BEST, fuels an ecosystem designed to streamline on-chain transactions while enhancing security, positioning it as a strong competitor in the crypto wallet industry.
The Fastest Growing Wallet in Crypto!
In a crowded market, Best Wallet delivers the tools you need to gain an edge. 🚀
1️⃣ Exclusive alpha on new projects.
2️⃣ Buy and claim tokens in the app.
3️⃣ Manage all your assets across multiple chains in one place.This is why the Best… pic.twitter.com/AT4yos1CmG
— Best Wallet (@BestWalletHQ) December 30, 2024
One of its unique features is the “Upcoming Tokens” section, which helps users discover high-potential projects in their early stages. Best Wallet has already identified Pepe Unchained (PEPU) and Catslap (SLAP), meme coins that delivered 500% and 3,000% gains, respectively.
Additionally, investors can stake BEST tokens for an impressive 146% annual return.
Crypto analyst and YouTuber ClayBro, with over 136K subscribers, says BEST has the potential to soar 10X after launch.
Right now, the BEST token is priced at $0.02425, and interested buyers can buy it using crypto or a bank card.
However, BEST is set to undergo a price increase in just over 35 hours. As such, this would be the best time to buy to secure the best deal.
Visit the official Best Wallet website.
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