XRP Price Forecast: $1.28 Billion ETF Inflows Offset Descending Triangle Near $2.05

Ripple’s XRP token is trading at $2.06, with a trading volume of $1.37 billion in 24 hours. The symbol ranks fifth in the world, with a market value of $124.9 billion. The circulating supply is 60.7 billion XRP, while the maximum supply is 100 billion. Despite strong market fundamentals, XRP price fell 0.28% over the past 24 hours, marking its fourth consecutive decline.

ETF flows provide some support. Spot XRP ETFs attracted $1.28 billion, helping to absorb selling pressure despite continued cautious general market sentiment.

• Price: $2.06
• Market value: $124.9 billion
• 24-hour trading volume: $1.37 billion
• Funds flow to ETFs: $1.28 billion

Coinbase Opposition to Senate Bill Could Pressure XRP and Stablecoins

This week, Coinbase withdrew its support for a market structuring bill submitted by the US Senate Banking Committee. Coinbase CEO Brian Armstrong explained that the project has big problems, especially when it comes to stablecoins and the benefits users receive. He said the proposed changes would “eliminate stablecoin rewards, allowing banks to lock out competitors.”

Simply put, these rules could prevent people from earning interest on stablecoins and give more control to traditional banks.

“After reviewing the Senate banking bill over the past 48 hours, Coinbase unfortunately cannot support the bill in its current form. This version would be far worse than the status quo. We would rather have no bill than a bad bill,” Armstrong said.

Stablecoins are digital currencies that hold their value close to that of the US dollar, and many use them to earn interest. If these new rules are adopted, banks could limit the operation of stablecoins, which could reduce opportunities for cryptocurrency users and limit competition.

Coinbase warns that this could return control of funds to banks, impacting investors and the cryptocurrency market in general. Everyone is now closely monitoring the development of this situation.

If these stablecoin restrictions are passed, XRP could come under pressure from cautious crypto investors, which could reduce demand. This, in turn, could slow price growth and keep XRP near key support levels.

XRP Price Forecast: Descending Triangle Indicates Possible Price Drop Below $2.05 Toward $1.90

The price outlook for XRP is neutral as it is currently trading around $2.0568, above a major support zone near $2.0527. Price converges within a descending triangle, a pattern often associated with a continuation of a downtrend. The lower border of the triangle corresponds to a horizontal support level, while the upper trendline shows successive lower highs. Recent candles indicate a state of indecision, with small formations and no clear change in momentum.

The most important technical indicators, led by the Relative Strength Index (RSI), are hovering around 45, indicating neutral but slightly downward momentum. The moving averages (red and blue) remain stable, suggesting weak trend strength.

The Fibonacci levels indicate that $2.1127 and $2.1911 represent potential resistance zones in case of a price rally, while $1.9764 and $1.9144 indicate bearish targets in case of a price decline. Until a decisive price movement occurs, the triangle pattern remains in place.

A confirmed close below the $2.0527 level could open a selling opportunity targeting $1.9144, while a breakout of the $2.1127 level would negate the downtrend and suggest a move towards $2.1911. Trading Idea: Short Sell Below 2.0527.

Bitcoin Hyper: Is this the next evolution of Bitcoin on the Solana platform?

Bitcoin Hyper ($HYPER) brings a new phase to the Bitcoin ecosystem. While Bitcoin remains the benchmark for security, Bitcoin Hyper adds what it has always lacked: Solana-like speed. The result: super-fast and inexpensive smart contracts, decentralized applications, and even the creation of meme-specific cryptocurrencies, all secured by Bitcoin.

The project, which was audited by Consult, focuses on trust and scalability as demand increases. The project has already achieved strong momentum, with the presale value exceeding $30.7 million and the token price standing at just $0.013585 before the next increase.

With the increase in Bitcoin activity and the high demand for powerful applications based on it, Bitcoin Hyper is emerging as a bridge between two of the largest cryptocurrency ecosystems. If Bitcoin laid the foundation, Bitcoin Hyper can make it fast, flexible and fun again.

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The article XRP Price Forecast: $1.28 Billion ETF Inflows Offset Descending Triangle Near $2.05 appeared first on Cryptonews Arabic.