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Ripple (XRP) News: April 1
April started off with a bang in the world of Ripple (XRP). The native token became one of the poorest performers over the past few weeks, even after the lawsuit against it ended. However, there are some positive developments in its ecosystem that caught my attention.
Firstly, Ripple’s native stablecoin, RLUSD, has been minting records. According to CoinMarketCap data, an unprecedented 50 million tokens were created at the project’s treasury over the past 24 hours. This sets a new record for the biggest mint in RLUSD history.
While this may not necessarily have any direct impact on XRP’s price, it does show that the project is still active and continues to develop its offerings. As more projects continue to integrate with Ripple’s technology, we can expect even more growth from RLUSD.
However, there are some worrying predictions for XRP itself. After a brief rally following the lawsuit announcement, the cross-border token has been experiencing a downward trend. In the last 10 days or so, its price has plummeted by an astonishing 20%. It is now close to breaking below $2.
There are mixed opinions on where XRP might go from here. Veteran trader Peter Brandt notes that Ripple’s native token has formed a typical H&S pattern that could lead to a price drop of over 15% if the support at $1.9 breaks. On the other hand, CRYPTOWZRD believes XRP could recover and reach $2.8.
The Great Matsby, on the other hand, remains bullish, suggesting that the token may have already reached its bottom after dipping to around $1.8 several weeks ago.
Source: https://cryptopotato.com/ripple-xrp-news-april-1/
