TL;DR

Ripple finally got the news it had anticipated for over four years, but the price impact on XRP has been little to no. A popular analyst on X outlined what needs to happen for the asset to kickstart its bull run, but XRP is not very close to it now.

$2 or $3 Next?

The price movements from XRP in the past several weeks have been quite underwhelming aside from a few brief spikes after Brad Garlinghouses announcement in mid March as well as when Trump mentioned it to be potentially included in the States strategic crypto reserve.

As of now, XRP struggles at $2.25 after a 4% daily decline. This is far off the $3.4 local peak reached in mid January, ahead of Trumps inauguration, when the cryptocurrency came just 1% away from breaking its 2018 all-time high.

Despite the hype, the regulatory changes, the SEC lawsuit conclusion, and everything in between, XRP has not only failed to remain above $3 but it has lost its position as the third-largest digital asset to Tethers USDT. With its price now sitting 33% lower than this cycles high, Ali Martinez outlined what needs to happen for XRP to restart its bull run.

To invalidate the current head-and-shoulders pattern, Ripples cross-border token needs to surge past $3, which seems like a distant target now.

If $XRP can break above $3, it would invalidate the current head-and-shoulders pattern, potentially flipping the outlook bullish. pic.twitter.com/B6mrtXm1TS

In contrast, Martinez highlighted $2 as a critical support level that needs to hold; otherwise XRP risks dumping toward $1.25.

Whats Holding XRP Back?

As CryptoPotato recently reported, everything seems to be going Ripples way. Its not just the SEC lawsuit ending, or the hype around a potential US-based spot XRP ETF, or the friendlier administration. Theres more as the company considers an IPO while it also racks up new partnerships.

However, XRP has failed to feel the positive impact in terms of price actions. It is closer now to the $2 support than the $3 resistance. Trading volumes have declined as even whales seem to be sitting on the sidelines, unlike what happened after the US elections.

This could all be attributed to the overall market stagnation and the global economic uncertainty prompted by Trumps controversial actions ever since he took office. Or, there could be more to the story that is yet to be unveiled to the public.