|

Ripple wipes out weekly gains, experts comment on role of Ripple stablecoin

  • Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. 
  • Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP. 
  • Attorney Bill Morgan warns market participants of the consequences of a lawsuit decision that stops XRP usage in ODL.

Ripple (XRP) declined to $0.52 on Thursday, erasing all gains registered earlier this week. Ripple Senior Vice President (SVP) Eric van Miltenburg’s comments on the firm’s stablecoin, and how it is expected to benefit the XRP Ledger and native token XRP have raised concerns among crypto experts. 

XRP price has been declining since Tuesday, following Ripple’s response filing to the SEC’s request for $2 billion in penalties.

Daily digest market movers: Ripple holders digest stablecoin news and response to SEC filing

  • XRP price wiped out Monday’s gains as holders digested the announcement of Ripple’s stablecoin and the firm’s response to the SEC’s request for $2 billion in fines. 
  • Ripple SVP told the Digital Frontier that Ripple plans to launch its stablecoin on the XRP Ledger, “which will ultimately be good for the ecosystem.” Miltenburg supports his claim citing Polygon’s example of how the introduction of stablecoins increased the Total Value Locked (TVL) on the chain and improved trust. 
XRP

The XRP question

  • Tokyo-based crypto expert @sentosuMosaba asked Ripple CTO David Schwartz whether some of the "cash equivalents" (that are going to back the USD-pegged stablecoin) going to be the digital asset XRP held by Ripple. The expert asks Schwartz why the comparison between increasing TVL and stablecoin usage on the blockchain. 
  • Attorney Bill Morgan reminded XRP holders that a decision on Ripple’s On-Demand Liquidity (ODL) corridor could influence the asset. The ODL is Ripple’s liquidity management solution that powers instant, cross-border transactions, and money transfers. 
  • XRPLedger’s native token XRP serves as the bridge currency for Ripple ODL’s liquidity management solution.
  • Morgan argues that if the court orders a permanent injunction (meaning an order to cease a specific action) on Ripple’s use of XRP in the ODL, it could negatively impact the asset’s utility and price. This is a cause for concern among XRP holders. 
  • For XRP holders, Ripple’s stablecoin launch and the recent response filed against the SEC’s request for $2 billion in penalties are the key market movers that can influence the asset’s price. 

Technical analysis: XRP wipes out Monday gains

XRP is changing hands at $0.5271 on Thursday as traders note inaction in BTC/USDT pair. Five days after the BTC halving event, the asset failed to cross the $67,000 level four days in a row. Bitcoin price trend influences large market capitalization altcoins like XRP. 

The XRP/USDT pair pares its weekly gains, down from Monday’s close of $0.55, to $0.52, at the time of writing. Despite the correction, XRP price is nearly 25% higher than the YTD low set earlier in April, $0.4188 (April 13). 

If XRP price gains acceptance above the 50% Fibonacci retracement level at $0.5310, plotted from the April 9-13 downfall, it could climb towards next resistance at $0.60. This marks a psychologically important level for XRP traders. 

The Moving Average Convergence Divergence (MACD) indicator is in the positive territory, supporting the positive momentum in XRP’s uptrend. Additionally, the crossover above the signal line is a bullish sign for XRP price. 

XRP

XRP/USDT 1-day chart

On the flip side, the April 21 low at $0.5183 has established itself as key support this week. A close below this level could invalidate the bullish thesis for XRP. 

Ripple FAQs

Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. The company also leverages the XRP token.

XRP is the native token of the decentralized blockchain XRPLedger. The token is used by Ripple Labs to facilitate transactions on the XRPLedger, helping financial institutions transfer value in a borderless manner. XRP therefore facilitates trustless and instant payments on the XRPLedger chain, helping financial firms save on the cost of transacting worldwide.

XRPLedger is based on a distributed ledger technology and the blockchain using XRP to power transactions. The ledger is different from other blockchains as it has a built-in inflammatory protocol that helps fight spam and distributed denial-of-service (DDOS) attacks. The XRPL is maintained by a peer-to-peer network known as the global XRP Ledger community.

XRP uses the interledger standard. This is a blockchain protocol that aids payments across different networks. For instance, XRP’s blockchain can connect the ledgers of two or more banks. This effectively removes intermediaries and the need for centralization in the system. XRP acts as the native token of the XRPLedger blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Editor's Picks

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC breakdown hints at deeper correction

Bitcoin, Ethereum and Ripple prices are extending losses on Monday after falling slightly the previous week. BTC is slipping below the lower consolidation range at $65,000, and ETH is falling below $1,900, both extending their six-week losing streaks.

Bitcoin, top cryptos stay muted as Trump hits back at Supreme Court ruling

Bitcoin (BTC) traded flat on Friday, hovering below the $68,000 key level following President Trump's response to the US Supreme Court's ruling on emergency tariffs.

AAVE drops 6% as BGD Labs announce plans to end support for protocol in April

BGD Labs said it will end its four-year role supporting the Aave (AAVE) DAO by April 1, citing growing centralization concerns around Aave Labs.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: No recovery in sight

Bitcoin (BTC) price continues to trade within a range-bound zone, hovering around $67,000 at the time of writing on Friday, and falling slightly so far this week, with no signs of recovery.