XRP Price Drops 5% Testing Critical $2 Support Amid Market Pressure

XRP has faced selling pressure, dropping 5% after Trump's tariffs were implemented, leading to a critical test of support at $2. This decline resulted in $18.51 million in futures liquidations, with long positions accounting for $12.067 million.

Key Points on XRP Price Movement

A breach below $2 and the 200-day SMA may confirm a Head-and-Shoulders pattern, risking a drop to $1.35.
A rebound requires closing above $2.34 to negate the downtrend, potentially allowing a rise to $3.
XRP's active addresses rose by 490% since the 2022 market low, contrasting Bitcoin's 10% increase, indicating strong retail interest.

Source: TradingView

RLUSD Stablecoin Launch

Ripple's RLUSD stablecoin has launched on Ripple Payments amid the announcement of the STABLE Act aimed at stablecoin regulations. Key clients including BKK Forex and iSend are using RLUSD to enhance international treasury operations.

RLUSD's market cap approaches $250 million with a trading volume of $10 billion since its launch in December.
Former Binance CEO Changpeng Zhao stated that competition in the stablecoin market is just beginning, emphasizing the role of stablecoins in promoting fiat currency adoption.