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The ongoing XRP price consolidation will likely end soon due to two catalysts – the recent spike in active addresses and the DC Blockchain Summit. Could these two events trigger a production of higher lows that push the token to bounce and tag the $3 psychological level?
Bitcoin is up nearly 3% in the past 20 hours and trades around $83K with no clear directional bias. However, XRP, Ethereum (ETH), and other altcoins await a bias after the highly anticipated Fed’s Interest Rate decision and FOMC events.
Can XRP Price Scale Higher and Hit $3?
From a purely technical perspective, XRP price is hovering between the $2.057 to $2.724 range. After a deviation of the range low on March 11, the token has bounced 30% to set up a local top at $2.47. For the trend to remain bullish, Ripple’s XRP needs to produce a higher low above $2.057. Such a development will propel the price to revisit the range high of $2.724.
In a highly bullish case, where Bitcoin price remains above $90K, Ripple’s token could flip the range high resistance level at $2.724 into a support level, advancing to $3. This move would constitute a near 40% rally, assuming XRP price produces a higher low at $2.1571.
XRP Active Addresses More Than Triple
As of December 2, 2024, XRP price touched the $2.69 level for the first time in more than five years. This historic level saw Daily Active Addresses (DAA) hit a peak of 165K. Since then, the on-chain metric remained relatively lower, showing a waning of investors’ interest. However, the DAA more than tripled and hit 530K on March 2. This sudden uptick notes that investors are interested in XRP at the current price levels.
Since the DAA spike has been sustained for the past two weeks, it indicates that XRP holders are anticipating something huge in the upcoming days.
This is where the DC Blockchain Summit fits in, where multiple well-known crypto personalities and US government officials are gathered to discuss cryptocurrency.
Meanwhile, Chainlink’s Sergey Nazarov is set to host a pivotal discussion with Bo Hines, who is the executive director of the President’s Council of Advisers on Digital Assets and all things crypto.
Considering that Ripple is a US-based company, the DC Blockchain Summit could reveal Ripple and other key cryptocurrencies and blockchain’s role in furthering America as crypto capital. Hence, the chances of XRP price rallying to $3 and beyond due to these catalysts are high.
Frequently Asked Questions (FAQs)
The recent spike in active addresses and the upcoming DC Blockchain Summit are the two catalysts.
XRP price is hovering between $2.057 to $2.724 range, and a higher low above $2.057 is needed for the trend to remain bullish.
The DAA more than tripled and hit 530K on March 2, indicating that investors are interested in XRP token at current price levels.
Akash Girimath
Senior Cryptocurrency Analyst & Market Strategist
Engineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts.
A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise.
Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash’s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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