- XRP price remained in a narrow range since the first week of February.
- Ripple Labs is now valued at $50 billion, making it one of the biggest crypto companies.
- Technical analysis suggests that the coin may be ready for a big move in either direction.
XRP price has gone nowhere since early January despite some notable developments and news from the ecosystem. Ripple token remains at $1.400 on Sunday, where it has remained at for more than 6 weeks. So, will it rebound as the XRP Ledger network growth accelerates?
XRP Price Has Ignored Some Important Ripple News
Ripple has made some notable news in the past few months. In a report last week, Ripple Labs bought staff shares and secured a $50 billion valuation, making it one of the most valuable companies in the crypto industry.
Coinbase, the giant crypto exchange, has a market capitalization of $51 billion, while Robinhood is valued at over $66 billion. Gemini Space Station, which is associated with the Winklevoss Twins is valued at $912 million.
Ripple’s valuation is $10 billion higher than what it received in October last year when it received a big investment from Ken Griffin’s Citadel and Fortress Investment.
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Another major XRP news is that the recent 13F filings showed that top players in Wall Street have accumulated spot XRP ETFs. Goldman Sachs is the biggest holder with over $150 million in assets. Others are top companies like Jane Street, Citadel, and Millenium Management.
Meanwhile, more companies are leveraging the XRP Ledger for their real-world asset tokenization activity. Data shows that the value of tokenized securities on its platform stands at $1.14 billion today, up from $111 million in January. The total value of assets on its RWA ecosystem has jumped to $1.5 billion.
More data shows that the number of XRP transactions is soaring. Its transactions jumped to nearly 3 million a day, much higher than the average of 1 million a day last year. The rising transaction count is a sign that adoption continues growing.
Ripple Price Technical Analysis
The daily chart shows that the XRP price is at a crossroads. It has remained in a narrow range since the first week of February despite having some important news and high volume. The Average True Range (ATR) has dropped to its lowest level since December 2024, a sign that its volatility has slumped.
The spread between the three lines of the Bollinger Bands has narrowed, confirming that the volatility has dried recently.
Therefore, this price action means that the coin will eventually have a big move in the coming days or weeks.
A drop below the key support level at $1.3275 will point to more downside in the coming weeks, potentially to the key support level at $1. On the other hand, a move above that level will point to more upside, potentially to the psychological level at $2.0.
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