TLDR
- XRP is currently trading around $2.07, holding above key $2.00 support level
- An “odd filing” in the SEC vs. Ripple case by Justin Keener claims to provide “decisive evidence” favoring Ripple
- Coinbase plans to launch XRP futures on April 21, potentially increasing institutional interest
- Ripple has integrated its RLUSD stablecoin into its cross-border payments system
- Technical analysis shows a symmetrical triangle pattern that could lead to a 73% gain to $3.51
XRP’s price is currently hovering around $2.07, maintaining position above the critical $2.00 support level. The cryptocurrency has experienced a slight decline of 1.3% in the last 24 hours.
This comes at a time when the market is closely watching several developments related to Ripple and its native token.
The price has been fluctuating within a consolidation zone between $2.00 and $2.50 for several weeks now. This pattern suggests that a significant price movement may be imminent.
Traders are watching key technical indicators to predict which direction this breakout might take. The Relative Strength Index (RSI) remains neutral on daily timeframes, indicating an equilibrium between buying and selling pressure.
Meanwhile, the Moving Average Convergence Divergence (MACD) is showing early signs of a potential bullish crossover, which could signal an upcoming uptrend.
Legal Developments Affecting XRP
A new development in the ongoing SEC vs. Ripple lawsuit has caught the attention of the XRP community. An individual named Justin Keener has made what crypto commentators are calling an “odd filing” in the case.
According to Crypto America host Eleanor Terrett, Keener has presented what he claims is “decisive evidence” favoring Ripple. The filing relates to physical investment contracts, though specific details remain limited.
It’s worth noting that Keener has previously been in legal trouble with the SEC. A US court ordered him to pay more than $10 million in a lawsuit where the SEC accused him of operating as a “penny stock dealer.”
This new filing comes as the XRP community awaits the final statement in Ripple’s case on April 16. Crypto analyst John Squire suggests this date could mark the end of years-long legal battles between Ripple and the regulator.
New Market Developments
Beyond the courtroom, new market developments could impact XRP’s price in the coming weeks. US crypto exchange Coinbase has filed with the CFTC to launch XRP futures on April 21.
This new product could drive institutional interest in Ripple and potentially trigger price movements. Through XRP futures, investors can hedge against the risk of investing in volatile crypto assets.
On the technical side, XRP’s price chart shows mixed signals. The formation of a descending triangle pattern on the daily chart suggests bearish pressure. If XRP breaks below the $2.00 support level, some analysts predict a potential drop to $1.04.
However, a symmetrical triangle pattern identified by other analysts points to a possible 73% gain to $3.51 if the price breaks above the upper trendline.
Ripple’s RLUSD Integration
Ripple recently announced the integration of its RLUSD stablecoin into its cross-border payments system, Ripple Payments. This move aims to enhance the utility and adoption of both RLUSD and XRP.
RLUSD is a USD-pegged stablecoin that Ripple launched in December 2024. It’s designed to complement XRP by providing stability for transactions, while XRP serves as a fast, liquid bridge currency.
This dual-asset strategy targets the $230 billion cross-border payments market. RLUSD’s market cap now stands at $244 million, with 87% growth in March alone, according to data from rwa.xyz.
As adoption grows, financial institutions using Ripple Payments may increasingly rely on XRP for liquidity, especially in volatile corridors. This could drive up demand for XRP.
Pairing RLUSD with XRP on the XRP Ledger (XRPL) and exchanges could also increase trading volume and activity on XRPL’s decentralized exchange, potentially tightening XRP’s supply.
Crypto market insights provider Alva described Ripple’s RLUSD integration as “a pivotal move for cross-border payments” in a recent post on X. They noted growing optimism around RLUSD and its potential effect on XRP.
Regardless of these developments, short-term price action will likely be influenced by the broader market sentiment and the outcome of the SEC vs. Ripple case expected on April 16.
Multiple technical analysts remain optimistic about XRP’s long-term prospects. Analyst Dark Defender predicts that XRP’s correction “will be over within weeks” and maintains targets between $5 and $18 in the medium and long term.
When #XRP hit $3.3999, we set a 5 Elliott Wave Structure and explained that XRP completed the Monthly 3rd Wave and entered into correction, Wave 4.
We set the Wave 4 dip with a precision of $2.02.
B is in action; we also have precise levels for B Wave.
While everybody… pic.twitter.com/CVlrkaVged
— Dark Defender (@DefendDark) April 2, 2025
Similarly, analyst CasiTrades points to XRP’s relative strength index showing bullish divergence on multiple timeframes, signaling a potential price bottom with an upside target of $3.80.
For now, XRP continues to hold the $2.00 support level as these various factors play out in the market and legal arenas.
