Ripple Navigates Market Volatility, Seeking Long-Term Stability

Ripple’s XRP price saw a significant surge last week, reaching $3.50 for the first time since 2021. However, the cryptocurrency subsequently retreated to around $3 as market volatility returned. This rally was initially fueled by optimism regarding Jerome Powell’s hints of potential interest rate cuts and the SEC settlement resolving Ripple’s legal challenges. However, XRP struggled to maintain momentum compared to Bitcoin and Ethereum, which surged towards new all-time highs despite the uncertainty in the broader market. 70% of trading activity is short-selling with a $1.15 billion vs $489 million long position ratio, suggesting bearish pressure.