XRP at a Crossroads: Critical Support Test Amid Waning Bullish Momentum
XRP is currently testing a pivotal support level as its price fluctuates NEAR the 26-day Exponential Moving Average (EMA) at $2.31. This level has emerged as a critical battleground between bullish and bearish forces, with a breakdown potentially triggering further declines to $2.18 or even $2.04. The cryptocurrency’s recent failure to breach the $2.80 resistance level, coupled with diminishing trading volumes, signals a loss of bullish momentum. As of May 23, 2025, XRP is trading at approximately 2.46480000 USDT, leaving traders and investors closely watching for the next decisive move.
XRP Tests Critical Support Level Amid Fading Bullish Momentum
XRP hovers near a decisive technical threshold as its price teeters at the 26-day Exponential Moving Average, currently trading at $2.31. This dynamic support level has become the battleground between bulls and bears—a breach below could accelerate declines toward $2.18 and potentially $2.04.
The cryptocurrency’s failed assault on $2.80 resistance reveals deteriorating momentum, compounded by shrinking trading volumes. Market participants who anticipated a run toward $3.00 now face the reality of weakening upward thrust, with each successive rally attempt showing diminished strength.
XRP Price Faces Resistance Amid Recovery Attempt
XRP’s price action shows tentative recovery signs after dipping below $2.35, though technical barriers loom. The digital asset now trades above its 100-hour moving average but confronts a bearish trendline at $2.40 on the XRP/USD hourly chart. Market observers note the $2.45 level remains critical—failure to breach this resistance could trigger renewed downward momentum.
While Bitcoin and ethereum show relative strength, XRP underperformed with a descent to $2.2850 before partial recovery. The token’s ability to sustain above $2.32 suggests some buying interest, but the formation of lower highs signals persistent selling pressure. Kraken exchange data reveals weakening momentum as the asset struggles to regain lost ground.
Circle Explores $5B Sale to Coinbase or Ripple Amid IPO Preparations
Circle Internet Financial, the issuer of the USDC stablecoin, is reportedly in informal discussions with Ripple Labs and Coinbase Global regarding a potential acquisition. The talks, which coincide with Circle’s ongoing preparations for an initial public offering, highlight the evolving dynamics of the stablecoin market.
Four sources familiar with the matter indicate Circle is seeking a valuation of at least $5 billion—a figure consistent with its IPO ambitions. Ripple recently submitted an offer between $4 billion and $5 billion, which Circle rejected as inadequate. The rebuff comes as Ripple’s own valuation surpasses $300 million, signaling renewed momentum.
XRP Tests Key Support Level as Rally Falters
XRP hovers precariously near its 26-day exponential moving average of $2.31, a critical technical threshold that could determine its near-term trajectory. Failure to hold this level may precipitate a decline toward $2.18 or even $2.04, erasing recent gains from its failed assault on the $3.00 resistance zone.
Trading volumes tell a concerning story - the steady evaporation of buying pressure suggests waning conviction among bulls. The cryptocurrency’s inability to sustain momentum after its rejection at $3.00 has left the market in a precarious position, with few catalysts visible to reignite upward movement.
Market technicians note the tightening consolidation range as evidence of dwindling volatility. Without fresh capital inflows or a shift in market sentiment, XRP appears vulnerable to further downside rather than poised for another leg upward.
XRP Futures Debut on CME with $1.5M in First-Day Trading Volume
The Chicago Mercantile Exchange (CME) launched XRP futures trading on May 19, marking a significant milestone for the digital asset. First-day volume reached $1.5 million, with both standard and micro contracts attracting active participation.
Four standard contracts, representing 50,000 XRP each, traded at an average price of $2.40, accounting for $480,000 in theoretical volume. Micro contracts contributed an additional $1 million, with 106 contracts exchanged at 2,500 XRP per contract.
The cash-settled contracts use the CME CF XRP-Dollar Reference Rate as a benchmark, published daily at 3:00 PM UTC. This listing follows the CFTC’s classification of XRP as a commodity, further cementing its position in regulated markets.
BitMEX Introduces RLUSD Spot Trading and Margin Support with 15,000 RLUSD Reward Pool
BitMEX has launched "The Ripple Effect," a new campaign offering spot trading and margin support for Ripple USD (RLUSD). Starting May 20, users can deposit, buy, and trade RLUSD on BitMEX Spot. The exchange is the first to enable RLUSD as a margin currency via its Multi Asset Margining feature, available from May 22.
A 15,000 RLUSD prize pool will reward users who engage in RLUSD transactions or use it as margin for derivatives trading. The initiative marks BitMEX’s collaboration with Ripple, a leader in digital asset infrastructure.
