XRP News: Trump-Hinted Crypto Reserve Boosts Prices, But XRP Whales Dump Holdings

Recent developments in the cryptocurrency market have led to significant fluctuations in the price of XRP, with a Trump-hinted crypto reserve in the US being a key driver. However, despite the price surge, large holders have been selling off their holdings, as revealed by on-chain data.

Trump-Powered Rally Triggers Heavy Dumping From XRP Whales

XRP’s price movement over the past two weeks has seen sharp fluctuations. The token briefly fell below $2 before recovering rapidly to $2.8 within days. This price action mirrors the wider crypto market, which declined in February but rebounded in March due to Donald Trump hinting at a crypto reserve in the US. However, on-chain data reveals that large holders have dramatically sold off their XRP during this surge.

Ripple CTO Clarifies Company’s Obligation to XRP Holders

Ripple’s Chief Technology Officer, David Schwartz (JoelKatz), clarified that the company has no obligation to act in the interests of XRP holders. This was in response to claims by Bitcoin advocate Pierre Rochard, who argued that Ripple’s business decisions do not prioritize XRP investors. Rochard, a longtime Bitcoin proponent and vocal XRP critic, declared that XRP isn’t a security because Ripple doesn’t owe holders any utility or anything else.

XRP Active Addresses Soar 620% Amid Price Volatility

On-chain data reveals a significant spike in activity on the XRP network over the past week, with active addresses increasing by 620%. Analyst Ali Martinez discussed this trend, noting that active addresses track the total number of addresses becoming active or online on the network daily. An address is considered active when it participates in a transfer, whether as a sender or receiver. This increase suggests more addresses are making transfers on the network.

XRP Price Gears Up—Can It Overcome Key Resistance Levels?

XRP price started a fresh recovery wave from the $2.20 zone and is now rising. It has cleared the $2.40 level and the 100-hourly Simple Moving Average. A connecting bullish trend line is forming with support at $2.480. The pair might continue to move up if it clears the $2.550 resistance zone. Earlier, the price declined below the $2.80, $2.60, and $2.50 levels before finding support NEAR the $2.20 zone. The price is now recovering losses above $2.30.