XRP has its Price Under Pressure, Goldman Sachs’ Rate Cut Forecast, and Ripple’s Stablecoin Surges in Efficiency
The price of XRP experienced a notable downturn on March 31st, falling over 5% and dipping to around $2.06.
This downward movement intensifies concerns about XRP’s capacity to sustain its $2 benchmark, a price level it has historically maintained.
Currently, XRP’s critical defense line is positioned at the 200-day Exponential Moving Average (EMA), near $1.94. Historically, breaches of this EMA have often precipitated sharper price declines for XRP.
Adding to the bearish outlook is the approaching apex of a descending triangle pattern forming on XRP charts.
This technical pattern often indicates an upcoming breakdown, suggesting that existing support levels are weakening under sustained selling pressure.
Should XRP decisively fall below the $2 mark, and if the 200 EMA fails to hold, analysts pinpoint the next significant support zone between $1.80 and $1.85.
For XRP to counter this negative trajectory and reassert bullish momentum, it would need to climb back into the 2.30−2.40 range and secure a close above it, ideally accompanied by substantial trading volume.
In the current market landscape, lacking a broader positive catalyst across the crypto market, the probability of XRP achieving this recovery appears limited, placing the $2 price level in a precarious position.
As of now, CoinMarketCap data indicates XRP is trading at $2.12, reflecting a modest 1.09% increase over the last day.
Goldman Sachs Anticipates Fed Rate Cuts, Potentially Boosting Crypto Markets
Financial giant Goldman Sachs has recently adjusted its inflation projections, as reported by Wu Blockchain on X.
The firm now forecasts the core Personal Consumption Expenditures (PCE) index, a key inflation gauge, to reach 3.5% this year, a revision upwards from their previous 3.0% estimate.
In response to potential impacts on economic growth and employment resulting from these inflationary pressures, Goldman Sachs predicts that the Federal Reserve will initiate a series of interest rate reductions.
Their current outlook anticipates three rate cuts implemented by the Fed within the latter half of 2025.
This projection is more dovish than both the signals previously communicated by the Federal Reserve itself and the prevailing market consensus.
Ripple’s RLUSD Demonstrates Market-Leading Capital Efficiency Against Major Stablecoins
Ripple‘s recently launched stablecoin, RLUSD, is gaining attention for its impressive performance, notably earning commendation from Vet, a validator within the XRP Ledger decentralized Unique Node List (dUNL).
Vet recently highlighted on X, RLUSD’s exceptional capital efficiency relative to its stablecoin peers.
Vet stated, “RLUSD currently stands out as the most capital-efficient stablecoin in the entire cryptocurrency market.
It boasts the highest volume-to-total Value Locked (TVL) ratio, recorded at 37%, significantly surpassing other leading stablecoins.”
According to data from CoinMarketCap from the previous day, Ripple USD (RLUSD) exhibited a volume-to-TVL ratio of 39.49%.
In comparison, Tether (USDT) reported 36.45%, while USDC and PayPal USD (PYUSD) showed considerably lower ratios of 15.02% and 6.76%, respectively.
