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The XRP price dropped 3% in the last 24 hours to trade at $2.24 as of 1:50 a.m. EST, with trading volume dropping 2% to $3.4 billion.
This pullback in the Ripple token price comes despite Ripple Labs filing a trademark application for “Ripple Custody,” indicating possible plans to enter the crypto custody business.
JUST IN: Ripple Labs applies for the "Ripple Custody" trademark, signaling a potential expansion into the crypto custody market. pic.twitter.com/ninOtkOyfW
— Whale Insider (@WhaleInsider) March 17, 2025
The trademark filing describes custodial services that handle cryptocurrency storage and management, which could make Ripple a major player alongside Coinbase, Citi, and BNY Mellon.
Ripple Token Price Shows A Potential Reversal
The XRP price has been displaying significant volatility over the past few months. It was in a clear uptrend that peaked before forming a head-and-shoulders pattern.
This classic reversal pattern signaled a potential shift from a bullish to a bearish trend, and indeed, the price of XRP corrected downward after completing the right shoulder.
Currently, the Ripple token price has found strong support around the $2.00 – $2.10 zone, which aligns with the neckline of the head-and-shoulders formation, according to GeckoTerminal data.
This area has been tested multiple times, reinforcing it as a critical demand zone.
Additionally, a bullish reversal structure appears to be forming, as indicated by the blue projection arrow on the chart, suggesting a possible breakout to the upside.
XRP trades below the 50-day Simple Moving Average (SMA), which acts as a dynamic resistance. A successful breakout above this level could confirm the start of a new uptrend.
Meanwhile, the 200-day SMA is located at $1.6784. This long-term support is far below the current price, indicating that the trend remains bullish despite recent corrections.
The Relative Strength Index (RSI) is currently at 45.75, which places it in a neutral-to-slightly bearish zone. This suggests there is room for a price increase before reaching overbought conditions. If the RSI moves above 50, it would strengthen the case for an upward breakout.
XRP Price Prediction
Given the recent retest of the strong support zone and a potential reversal signal, the XRP price is likely to initiate a bullish breakout in the coming days or weeks.
A move above $2.50 (the 50-day SMA) would confirm bullish momentum, with an initial price target of $3.00. If momentum continues, XRP could test $3.50 in the medium term.
However, if the price of the Ripple token fails to hold above the key support zone near $2.00, a deeper correction toward $1.70 (near the 200-day SMA) could be expected before another bullish attempt.
As the XRP price dips, investors are flocking to the presale for Best Wallet (BEST), which popular YouTuber Crypto Gains, with over 146K subscribers, says has the potential to soar 10X after launch.
Best Wallet Presale Closes On $11.5 Million – Best Crypto Wallet Token?
The Best Wallet presale has just crossed the $11.1 million milestone, and it is easy to see why. With a user-friendly design, advanced features, and high staking rewards, many see the project as the future of crypto wallets.
Unlike MetaMask, which is primarily Ethereum-focused, or Trust Wallet, which is great for beginners, Best Wallet supports over 60 blockchains. This means you can manage everything from the top altcoins to the latest up-and-coming tokens all in one place.
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
Among the many features offered, one stands out: the “Upcoming Tokens” section. This feature helps users discover promising projects that are still in the early stages.
The project’s success in identifying promising projects is clear. It’s already identified tokens such as Pepe Unchained (PEPU) and Catslap (SLAP), meme coins that delivered 500% and 3,000% gains, respectively, for early investors.
Investors can also stake BEST tokens for a huge 141% annual percentage yield (APY).
Currently, BEST tokens are priced at $0.024375. Those interested in joining the project should buy BEST before a price hike in a little more than 13 hours.
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