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Ripple (XRP) Price Predictions for This Week

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xrp_price_chart_0403261

XRP downtrend resumes. Can buyers put a stop to it?

Ripple (XRP) Price Predictions: Analysis

Key support levels: $1

Key resistance levels: $1.4

XRP’s Downtrend Resumes

After the price spiked in both directions, sellers appear to have gained the upper hand, as they managed to defend the $1.4 resistance, which is currently preventing bulls from regaining the initiative.

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At the time of this post, XRP is struggling to hold above $1.35 and may retest the $1.28 level, which briefly halted the downtrend last week.

xrp_price_chart_0403261
Source: TradingView

Bears Have the Initiative

With the past two weekly candles closing in red, sellers have full control over the price action right now. This makes the outlook bearish and may open the way for XRP to fall all the way to $1. This is the most important support level on the chart.

Buyers could return around $1.2, but it is too early to say if they will manage to reverse the downtrend there since any weakness could encourage sellers to increase their pressure.

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xrp_price_chart_0403262
Source: TradingView

MACD Wants to Reverse

The MACD is already bullish on the daily timeframe and is signaling a potential reversal on higher timeframes, such as the 3-day view. The histogram is making higher lows and appears ready to move to the positive side.

If the 3-day MACD crosses bullish, buyers will have a clear opening to regain control of the price and begin a relief rally. That will be confirmed if they manage to turn $1.4 into a key support later on.

xrp_price_macd_chart_0403261
Source: TradingView
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Crypto World

Crypto Stocks Soar as US Regulators Push Ahead

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Crypto Stocks Soar as US Regulators Push Ahead

Crypto-related stocks surged on Wednesday as recent pro-crypto commentary from the US presidential campaign pushed Bitcoin and the broader crypto market higher.

Alongside a rise in the cryptocurrency market, the Bitcoin (BTC) treasury company Strategy spiked by more than 10%. Crypto exchange Coinbase registered a more than 14% gain, while miners Hut 8 clocked 13.89% and American Bitcoin Corp rose 11.65%.

Dominick John, an analyst at Zeus Research, told Cointelegraph the promise of clearer regulations on the near horizon could be one of the factors fueling the rally.

Bitcoin treasury company Strategy was one of the many crypto-related stocks to rise. Source: Google Finance 

“Crypto equities are rallying as regulatory risk is being fundamentally redefined. With the executive branch championing a clear digital asset framework, coupled with robust spot ETF inflows and the potential passage of the Clarity Act,” he said.

“The trend will persist as regulatory clarity strengthens and institutional flows accelerate. With policy risk receding and product demand expanding, crypto equities have room to reprice higher in the medium term.”

Wall Street’s main regulators have advanced plans to oversee the industry, with the Commodity Futures Trading Commission filing a regulatory review for prediction markets and the US Securities and Exchange Commission filing a pending application on Tuesday on Federal Securities Laws and how they govern some crypto and transactions. 

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Trump’s statements helped buoy crypto

Pav Hundal, the lead analyst at Australian crypto platform Swyftx, told Cointelegraph that US President Donald Trump’s recent swipe at the banks and his push for the Senate’s crypto market structure bill to pass could also be playing a factor. 

During a press conference at the White House, Trump also reiterated that in “crypto, we want to be dominant; we want to be dominant in everything we do,” Fox 2 Detroit reported on Wednesday.