CoinGape 2025-03-19 07:37:17

Will XRP Price Hit $3 as Active Addresses 3X Ahead of DC Blockchain Summit?

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/USDT 1-day chart 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. XRP Daily Active Addresses Triples 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. The post Will XRP Price Hit $3 as Active Addresses 3X Ahead of DC Blockchain Summit? appeared first on CoinGape .

Наиболее читаемые новости

Plume (PLUME) Price Prediction March 2025, 20...
2025-03-20
Ripple CEO’s Insight Sparks XRP Price Surge W...
2025-03-20
Solana futures ETF to grow institutional adop...
2025-03-20
Trusted Execution Environments Explained: Enh...
2025-03-20
Ripple’s SEC Case Closure Suggests Legal Unce...
2025-03-20
Is Cardano Price About to Skyrocket? The Shoc...
2025-03-20
Bybit Founder Exposes Hack Flows: 86% of Stol...
2025-03-20
US Exchanges Open: NASDAQ: -0.90% S&P 500: -0...
2025-03-20

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения