Ripple’s XRP is consolidating close to the significant support level of $2.25 following a yearly high of $2.8 on the monthly price chart.
According to market data, the altcoin’s daily trading volume fell by 49% and it lost over 6.4% in the last 24 hours
However, Experts expect a price surge to the remarkable $3 mark as soon as Donald Trump assumes office as president of the United States, and the SEC drops its appeal against Ripple.
Analysts like Edo Farina, CEO of Alpha Lions Academy disclosed that XRP is poised for a positive reversal in the days ahead due to the introduction of RLUSD, Ripple’s first stablecoin coin, which is anticipated to enhance XRP’s usefulness for efficient utility management and cross-border payments.
A successful RLUSD debut might have a big impact on the price of XRP. He advised retail investors not to fall for the “scare tactics” of the Whales and sell early.
Pablo Tamayo, a crypto influencer attested to Farina’s theory of “scare tactics” used to get inexperienced investors to sell prematurely.
On X, he said “Wealthy and very smart people are cleaning out the weak hands, the people that are only in it for a quick buck. People who start to see their gains disappearing will react by trying to sell in order to keep as much profits as they can”