- XRP: Goodbye to $2?
- Key Fed prediction made by Goldman Sachs, bullish for crypto?
- Ripple's RLUSD flips major stablecoins in this key metric: Details
U.Today has prepared the top three news stories over the past day.
XRP: Goodbye to $2?
Yesterday, March 31, XRP plunged by more than 5% to the lows of $2.06, adding to its risk of losing its long-standing $2 threshold. The 200 EMA at $1.94 is XRP's last line of defense, and historically, falling below this level has led to faster declines. Additionally, the apex of the descending triangle pattern is nearing, which signals an impending breakdown, when support weakens under pressure. If XRP significantly breaks below $2 and the 200 EMA is not maintained, the next significant support is located between $1.85 and $1.80. To break this trend, the asset needs to regain the $2.30-$2.40 range and close above it with significant volume. However, the chances of XRP doing this appear slim in the absence of a more widespread market catalyst, which puts the future of the $2 mark in jeopardy. Currently, XRP is valued at $2.12, up 1.09% over the past 24 hours, per CoinMarketCap.
Key Fed prediction made by Goldman Sachs, bullish for crypto?
According to a recent X post by Wu Blockchain, Goldman Sachs has revised its inflation forecast; now it is expecting the core PCE index to rise to 3.5% this year instead of the previously estimated 3.0%. To address the hit on growth and employment, Goldman Sachs expects the Fed to cut interest rates three times in the second half of 2025. This outlook exceeds both the Fed's own projections and market expectations, as Fed officials hinted at further reductions later this year during their March meeting. With key labor market reports and a speech from Fed Chairman Jerome Powell on the horizon, analysts are watching closely for macroeconomic signals that could influence market dynamics. Historically, rate cuts have helped boost risk assets like cryptocurrencies, suggesting that lower borrowing costs could drive increased investment in the crypto space, increasing buying pressure.
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Ripple's RLUSD flips major stablecoins in this key metric: Details
Ripple stablecoin RLUSD has received praise from Vet, an XRPL dUNL validator. In a recent X post, Vet highlighted RLUSD's impressive performance compared to other stablecoins. The post reads: "RLUSD is the most capital-efficient stablecoin in the entire crypto market currently. It has the highest volume-to-TVL ratio at 37%. Leaving the other top stablecoins far behind." According to CoinMarketCap data from yesterday, Ripple USD (RLUSD) recorded 39.49%; Tether reported 36.45%, while USDC and PayPalUSD showed 15.02% and 6.76%, respectively. Since its launch in December 2024, RLUSD's market capitalization has surged to $243.77 million. This exceeds Ripple's internal projections for growth; Ripple executive Jack McDonald shared a general expectation by the Ripple team that RLUSD would become one of the top five stablecoins by the end of the year, echoing earlier predictions from CEO Brad Garlinghouse.
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