BTC
$92,722.69
+
7.60%
ETH
$2,357.77
+
5.14%
XRP
$2.6596
+
16.75%
USDT
$1.0000
–
0.05%
BNB
$604.64
–
0.69%
SOL
$161.87
+
12.55%
USDC
$1.0002
–
0.05%
ADA
$0.9785
+
47.05%
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$0.2210
+
6.11%
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$0.2427
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4.14%
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+
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10.17%
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4.23%
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+
6.53%
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2.16%
LTC
$117.15
–
4.51%
TON
$3.3618
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0.51%
SHIB
$0.0₄1417
+
2.76%
By Shaurya Malwa|Edited by Parikshit Mishra
Mar 3, 2025, 11:20 a.m. UTC
What to know:
- XRP surged 25% to $3 after Trump’s strategic reserve announcement but has since retreated to $2.6, pulling back to a descending trendline from January highs.
- Technicals show a cooling rally—RSI dropped from an overbought 70 to 48, MACD turned bearish below zero, and prices sit below the 50-hour SMA ($2.65) but above the 200-hour SMA ($2.50).
XRP is taking a bull breather a day after Donald Trump sounded plans for a strategic token reserve alongside bitcoin (BTC), ether (ETH), cardano (ADA) and solana (SOL).
The payments-focused cryptocurrency rallied 25% within hours of Trump’s Truth Social post, reaching $3, but has since pulled back to $2.6 at press time. Prices have pulled back to the descending trendline from Jan. 16 highs.
STORY CONTINUES BELOW
Among technical indicators, the relative strength index (RSI), which measures if price is moving too fast, rose to 70 late Sunday and has retraced to 48 from above-70 or overbought readings observed late Sunday, signaling potential for a renewed move higher.
However, prices remain below the 50-hour SMA ($2.65), signaling weakness, while the broader 200-hour SMA ($2.50) supports that remains intact.
The Moving Average Convergence Divergence hourly chart shows momentum shifts—its line crossing below the signal at $3 (now below zero) confirms a bearish turn after the rally.
The 20-hour Bollinger Bands, which define a price range, show $2.9 as the upper limit and $2.4 as the lower, and with prices at $2.6 in the middle, it indicates reduced volatility after the earlier spike.
The rally to $3 exhausted buying pressure with RSI at 70 and a MACD crossover, supporting a pullback. The breach of the 50-hour SMA reflects short-term bearish control, but the 200-hour SMA at $2.5 is critical support.
Current price ($2.62) is at a pivot: a break below $2.50 risks further declines, while a move above $2.65 could target the $3 level and above. Momentum favors bears short-term, and speculators could watch volume and a decisive move for further positioning.
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
