XRP Emerges as Retail Investors’ Favorite Cryptocurrency Amid Shifting Market Dynamics

A recent report by Glassnode has revealed that XRP has become the top pick for retail investors in the current cryptocurrency cycle, amidst notable shifts in market dynamics and investor preferences.

Glassnode Finds XRP Is Retail’s Top Pick This Cycle

On-chain data analytics firm Glassnode has identified an intriguing shift in retail investor preference, spotlighting XRP as a focal point of speculative interest. The findings, from Glassnode’s report titled “Rippling Away,” reveal remarkable inflows of capital and user activity in XRP, albeit with waning momentum. Meanwhile, Bitcoin has been consolidating between $76,000 and $87,000, with indicators showing near-term seller exhaustion but no renewed bullish momentum. A longer-term on-chain “Death-Cross” suggests Bitcoin’s weakness could persist.

XRP Battle Heats Up—Can Bulls Turn the Tide?

XRP price started a fresh decline below the $2.050 and $2.120 zones. The price is now consolidating below the $2.10 level and the 100-hourly Simple Moving Average. There is a short-term declining channel forming with resistance at $2.0680. The price extended losses below the $2.00 and $1.980 support levels, forming a low at $1.960 before attempting a recovery wave above $2.00 and $2.020. However, the pair might extend losses if it fails to clear the $2.10 resistance zone.

XRP Breakout Alert! Could This Surge Send The Altcoin To $3?

XRP is probing critical support levels as the cryptocurrency market struggles with chronic volatility. The digital asset currently trades at $1.98, with a daily trading volume of $10.50 billion and a market value of $115 billion. Over the last 24 hours, XRP has declined by 7.7%, mirroring larger market trends. Bitcoin’s recent price move to $81,700 and subsequent sharp pullback has sent ripple effects throughout other cryptocurrencies, putting pressure on XRP and other alternative digital currencies. Traders are observing key price levels to determine if support will break or hold. Political events are adding a second level of unpredictability to cryptocurrency prices.

Coinbase Institutional Files for XRP Futures with CFTC

Prominent cryptocurrency exchange Coinbase has shared a bullish update for Ripple’s XRP. The exchange’s derivatives platform has filed with the U.S. Commodity Futures Trading Commission (CFTC) to self-certify futures contracts for XRP. This comes as a major gain for the XRP market and its investors. According to the announcement, the XRP futures will launch on April 21, 2025. As long as Coinbase follows the required guidelines, its self-certification with the CFTC permits it to offer XRP futures contracts.