XRP is drawing attention with its price hovering above the critical level of $2.20. The definitive date for the futures ETF launch has provided bullish support for the cryptocurrency.
XRP Coin Burn Activity
Global financial markets have seen a rise in risk appetite, influenced by Trump’s supportive statements on interest rate cuts and calls for tariff negotiations. These developments, combined with investors’ positive expectations, have pushed XRP’s direction upward. Bitcoin 
$82,774 reaching its 60-day peak has also sent positive signals across the market.
Although XRP rose to $2.25 before experiencing a slight pullback, it is striving to maintain its primary support level of $2.20. The daily trading volume approaching $2.5 billion indicates continued buying interest.
On the XRPLedger, a noticeable increase in burned fees has been recorded. The amount burned surged from 2,730 XRP on April 22 to 3,775 XRP on April 26, reflecting a 38% increase.
This increase is interpreted as an on-chain signal of rising transaction volumes and user activity on the network. Due to its deflationary mechanism, it is believed that the circulating supply of XRP may gradually decrease over time.
“XRP is not digital gold; it facilitates trading, transferring, and forming digital gold as a liquidity layer. While gold and Bitcoin serve as store of value, XRP prioritizes functional use and offers high speed in millions of transactions daily.” – Favio Valerda, Sologenic
XRP Price Forecast
In technical analysis, the narrowing of Keltner Channel bands and the Parabolic SAR indicators signaling buy points indicate the potential for the price to rise to $2.35. The Money Flow Index value is currently at 57.12, suggesting a healthy cash flow without indicating an overbought status.
If the price falls below $2.20, there could be a decline to as low as $2.13, or even down to $1.94. However, if current support levels are maintained, XRP is expected to exhibit notable upward movement in the short term.
Considering macro developments, on-chain data, and technical indicators, it is anticipated that XRP may experience short-term fluctuations but maintain its permanence at specific support levels. It is crucial for market participants to act prudently against sudden market movements and potential risks.
