XRP Price Won’t Dip Below $2, Here’s Why

Monicah W

XRP Ledger's XLS-80 Could Beat Ethereum in Institutional Adoption

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Crypto prices are down today due to the rising tensions in the Middle East. XRP fell to $2.16, while Cardano (ADA) and Solana (SOL) dropped over 1%. Ethereum (ETH) also dipped 0.7%, giving up its recent gains.

XRP is trading around $2.159, down 0.3% today, after failing to hold above the $2.30 resistance zone. After a rally to $2.35, sellers regained control, and pushing the price back toward $2.11.

Earlier, XRP had surged above $2.40, exciting traders and fueling hopes of a breakout. But the rally didn’t last. The price fell back near $2.15, turning what looked like a bullish breakout into a fakeout. The brief spike was driven by whale activity, hopes of an SEC settlement, and strong sentiment, but the momentum faded soon. 

XRP Stuck in a Tight Range, Will It Revisit Lower Levels?

Now, XRP is stuck in a narrow range between $2.00 and $2.50. Analysts say a breakout above $2.50 could target $3.50, but if the price drops, it could fall to $1.85 or even lower. Technical indicators like MACD are showing selling pressure. XRP is forming a symmetrical triangle, which often precedes a major move, up or down.

To regain momentum, XRP must reclaim $2.206 and break through resistance around $2.18–$2.21. A successful push above $2.236 could open the way to $2.35 and beyond. But if it slips below $2.113, XRP could revisit support levels at $2.02, $1.92, and even $1.83.

Over the past month, XRP has traded between $2.05 and $2.40. Several analysts say the current setup resembles the 2017 price action, which led to a massive breakout to all-time highs.

XRP’s 2017 Setup Repeating?

XRP has been consolidating between $1.90 and $2.90 for nearly 200 days. Analysts like see similarities to the 2017 triangle pattern that led to a 1,300% rally. With an even longer consolidation this time, a similar rally from the $0.63 breakout zone could push XRP to $8–$10.

Analyst Dark Defender believes XRP is nearing a crucial breakout point. Patterns like the cup formation, trendline squeezes, and Fibonacci levels are aligning. Tightening moving averages also suggest a big move is coming. His short-term targets are $2.22 and $3.61, with support at $2.07.

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Coinbase Secures Legal Win as Alabama Drops Lawsuit Over Staking

Coinbase Secures Legal Win as Alabama Drops Lawsuit Over Staking

In a positive development for Coinbase, Alabama has officially dropped its enforcement action against the cryptocurrency exchange. This decision marks a shift in the legal challenges facing the company regarding its staking program.

Currently, only five states continue to pursue legal cases against Coinbase’s staking services.

Alabama Drops Coinbase Lawsuit Over Staking

Alabama’s Securities Commission had accused Coinbase of offering unregistered securities through its staking rewards program. The staking service allows users to lock up their digital assets to help verify transactions on a blockchain network. In return, Coinbase provides rewards to the users, and the company earns a commission for facilitating the process.

State regulators, including those from Alabama, argued that the program was an investment contract that would require registration under securities laws.

While the Alabama case may have been dropped, the crypto exchange still faces legal challenges elsewhere, including in Oregon. A development came from pro-XRP lawyer John Deaton, who sharply criticized Oregon’s Attorney General Dan Rayfield’s stance in the state’s case against the crypto exchange. Deaton questioned the rationale behind the legal action, calling Rayfield’s arguments illogical and potentially harmful to the broader cryptocurrency ecosystem.

Other States Involved in Legal Actions

Several states, including California, Illinois, and Washington, filed the Coinbase lawsuit after a multi-state investigation spearheaded by the U.S. Securities Exchange Commission.

The ten states, including Alabama, brought legal suits against Coinbase for allegedly violating laws governing securities in the states through its staking program. While some have issued cease and desist letters to the crypto exchange, others have threatened to fine the company or have flat out banned the provision of staking services.

However, several states have backed down since then, including the US SEC in February this year. Kentucky, Vermont and South Carolina even dismissed their own cases against the exchange and now this is also the case with Alabama. The exchange’s legal department has continually defended the staking activity, saying it is legal and has acted against such trends.

California, Maryland, New Jersey, Washington, and Wisconsin are the only states still actively pursuing legal action against the company. As Coibase’s Chief Legal Officer says, the legal situation is shifting and he would like to see more states withdraw their actions like Alabama.

Shifting Focus to Federal Regulation

Paul Grewal argued that the current patchwork of state-level regulations on staking services is confusing consumers and businesses in the crypto space. He pointed out that four of the remaining states have imposed complete bans on Coinbase’s staking service. These actions, in his opinion, misallocate taxpayer resources.

“It’s time for these outliers to follow suit,” said Grewal. He stressed the need for a clear, federal regulatory framework for digital assets. With the recent drop of the SEC’s own federal case against the crypto exchange over staking, the focus is now on whether Congress will intervene and create a more unified approach to regulating cryptocurrencies.

Coinbase has long advocated for clearer and more consistent regulations for the crypto industry, which would help provide more certainty to both consumers and businesses. The ongoing legal battles in various states only highlight the challenges posed by the lack of a comprehensive federal framework, which the crypto community await to change under the new US SEC Chair Paul Atkins.

The post Coinbase Secures Legal Win as Alabama Drops Lawsuit Over Staking appeared first on CoinGape.

ECB Rate Cuts Reflect Europe’s Fading Influence on the Crypto Market

The European Central Bank (ECB) cut interest rates by another 25 basis points today, but the crypto market has hardly noticed. This highlights the European market’s declining influence over the crypto sector compared to the US.

Meanwhile, the crypto community is praying for rate cuts in the US, and false tariff rumors caused a massive pump. These policies still matter, but Europe is losing its macro influence.

The ECB Cuts Rates To Crypto Ambivalence

Global recession fears are circulating throughout the crypto market, and regulation plays a key role in them. US investors have been desperate for a rate cut in the hopes that it could provide a bullish narrative.

None has yet materialized. However, the ECB cut interest rates today for the sixth consecutive time, yet the crypto market barely reacted.

“The outlook for growth has deteriorated owing to rising trade tensions. Increased uncertainty is likely to reduce confidence among households and firms, and the adverse and volatile market response to the trade tensions is likely to have a tightening impact on financing conditions,” the ECB said in a public statement.

According to price data, the total crypto market cap has decreased by 0.2% since the ECB announced these rate cuts. Of the top 10 largest assets, all of them posted gains today except one.

Does this mean that macroeconomic factors are losing influence on crypto markets? That notion is demonstrably untrue. Less than two weeks ago, crypto had a huge rally after a false rumor that Trump would pause tariffs.

These gains came back when the pause actually happened. So, macro influence is still very strong in the current markets; it’s specifically that the ECB and Europe are losing influence.

The European Union isn’t the only economic bloc that’s losing its power in the space. Yesterday, the British government announced that inflation was lower than expected, potentially enabling another rate cut.

This, too, had a negligible impact on crypto. Macroeconomic concerns still impact the crypto market, but its strongest links are to the US and Asia.

A clear sign of this change in crypto happened months before the ECB cuts. Tether was forced to leave the EU due to MiCA regulations, but its business was minimally impacted.

It’s still the world’s largest stablecoin despite losing out on the entire European market. In fact, since then, it has taken steps to better integrate with US regulations.

Meanwhile, many large crypto businesses are reorienting towards Asia and the US and away from Europe. Earlier this year, a16z shut down its London office to focus on the US.

Tether relocated to El Salvador, giving it close proximity to the US and easier access to the Latin American market. This growth area is apparently more fruitful than trying again in Europe.

The ECB’s rate cuts barely impacted the crypto market, but that doesn’t mean that the industry will ignore the whole continent. Moving forward, however, EU operations will matter less and less to the largest companies.

This mirrors broader trends, as international capital is refocusing away from Europe. It’s only natural that crypto is part of that pattern.

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Crypto Market Lost $633 Billion in Q1 2025, CoinGecko Report Shows

According to CoinGecko’s quarterly report, the overall crypto market cap fell 18.6% in Q1 2025. Trading volume on centralized exchanges also fell 16% compared to the previous quarter.

This report identified a few positive trends, but most of them contained at least one significant downside. Despite the market euphoria in January, recession fears are taking a very serious toll.

Crypto Suffered Heavy Losses in Q1

The latest CoinGecko report shows just how bearish the first quarter of the year has been. Although the crypto market started January with a major bullish cycle, macroeconomic factors have heavily impacted market sentiment for the past two months.

Crypto Market Cap Fell in Q1 2025 CoinGecko
Crypto Market Cap Fell in Q1 2025. Source: CoinGecko

According to this report, crypto’s total market cap fell 18.6% in Q1 2025, a staggering $633.5 billion. Investor activity fell alongside token prices, as daily trading volumes fell 27.3% quarter-on-quarter from the end of 2024. Spot trading volume on centralized exchanges fell 16.3%, which CoinGecko at least partially attributes to the Bybit hack.

The report mostly focused on concrete numbers, but it pointed to a few specific events that impacted crypto. Markets hit a local high around Trump’s inauguration, thanks to market euphoria over possible friendly policies.

His TRUMP meme coin fueled a brief frenzy in Solana meme coin activity, but this quickly slumped. The LIBRA scandal had a further dampening impact.

Bitcoin increased its dominance in Q1 2025, accounting for 59.1% of crypto’s total market cap. It hasn’t maintained that share of the market since 2021, symbolizing how much more stable it’s been than altcoins.

Nevertheless, BTC also fell 11.8% and was outperformed by gold and US Treasury bonds.

Bitcoin Slumps Despite Market Cap Dominance CoinGecko
Bitcoin Slumps Despite Market Cap Dominance. Source: CoinGecko

This data point is especially worrying because Trump’s tariffs have wrought havoc on Treasury yields. Even so, the report clearly shows that the rest of crypto suffered even more. Ethereum’s entire 2024 gains vanished in Q1 2025, and multichain DeFi TVL fell 27.5%. C

ountless other areas saw similar results, but they’re too numerous to easily summarize.

That is to say, almost every quantifiable positive development came with at least one major caveat. Solana dominated the DEX trade, but its TVL declined by over one-fifth.

Bitcoin ETFs saw $1 billion in fresh inflows, but total AUM fell by nearly $9 billion due to price drops. The reports reflect that recession fears are gripping the crypto market.

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