The XRP price has declined for six consecutive weeks, reflecting the softer tone across the broader crypto market. On Thursday, the token traded near $1.3915, which is about 62% below its all-time high of $3.6590.
Still, multiple indicators suggest the XRP price could be nearing a potential floor. A major factor behind this view is the growing traction of the Ripple USD (RLUSD) stablecoin.
Ripple USD supply is rising
Demand signals for RLUSD appear to be strengthening. Momentum could increase further after Binance completed its integration on the XRP Ledger, enabling users to deposit and withdraw RLUSD on one of the world’s largest crypto exchanges.
According to Artemis, the total RLUSD supply in circulation has moved past $1.5 billion for the first time. Roughly $1.1 billion of that supply is on Ethereum, while the remaining share is issued on the XRP Ledger.
On Thursday, Jack McDonald, Senior Vice President at Ripple Labs, said RLUSD could eventually compete with widely used payment tools tied to the traditional dollar system, including services like Venmo and PayPal. He also highlighted increasing interest from institutions, especially as the team prepares to roll out a Permissioned DEX platform.
Artemis data also points to rising stablecoin usage. Over the past 30 days, RLUSD processed more than 480,000 transactions, and adjusted transaction volume reached nearly $4.9 billion. Most of that activity came from decentralized finance (DeFi), followed by broader blockchain usage and centralized exchanges.
ETF inflows could support XRP price
The XRP price could also benefit from continued ETF buying. SoSoValue data shows spot XRP ETFs have attracted over $48 million in inflows so far this month. By contrast, Bitcoin and Ethereum funds have experienced meaningful net outflows over the last few months.
XRP price prediction: Technical analysis
On the weekly timeframe, the XRP price has trended lower in recent months as the wider crypto downturn intensified.
- The Relative Strength Index (RSI) has dropped to around 30, which is typically seen as an oversold level and marks its weakest point since August 2022. When RSI hits oversold territory, price often becomes more likely to bounce in the short term.
- XRP has also developed a falling wedge formation, where two descending trendlines narrow toward each other. This setup commonly appears when selling pressure starts fading and a reversal becomes possible.
With these signals in place, the XRP price may attempt a recovery in the coming weeks. A key level to watch is $2.00, a major psychological target that sits roughly 45% above the current price zone.
