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XRP (XRP) has gone down for five days in a row as the token has been struggling to find the necessary liquidity for its next leg up.
In the past month, XRP has dropped by 10.2% and trading volumes rose above the average yesterday after the token tagged its 200-day exponential moving average (EMA) and bounced off it.
Apex 2025: Digital Commercial Paper DCP is now live on the XRP Ledger. Administered by Guggenheim Treasury Services, one of the largest independent commercial paper platform managers in the world and powered by Zeconomy: https://t.co/Ic4YdUnNry
With $280M+ in issuance, DCP is…
— RippleX (@RippleXDev) June 10, 2025
A few days ago, Ripple announced the launch of a digital commercial paper (DCP) on the XRP ledger that will be administered by Guggenheim Treasury Services. This financial instrument has an outstanding volume of $280 million and provides exposure to an investment-grade fixed-income security.
Ripple has been making its way into the Asian and Middle East markets lately. The company secured a license in Dubai to operate as a crypto payments provider for enterprises in this key financial hub while Ripple USD (RLUSD), the network’s first native stablecoin, was recognized as a valid cryptocurrency in this country.
RLUSD has been increasing its market cap progressively through top CEX listings. Recently, the token was added by Kraken, Bitget, and Bitstamp. Meanwhile, in late April, the token was also included by Aave and Curve Finance in their decentralized Ethereum-based protocols.
Data from CoinMarketCap shows that RLUSD recently experienced a $60 million jump in its market cap from $350 to $415 million.
This is all bullish for XRP as increased adoption of the stablecoin will ignite higher transaction volumes on the Ripple network. In addition, the launch of this token is consistent with the project’s vision of becoming the world’s go-to decentralized cross-border payments platform.
XRP Could Resume its Rally If It Bounces Off $2.2
Looking at the 4-hour chart, the price has broken its ascending price channel recently and has already retested that former trend line support from below.
In this time frame, the 9-period and 21-period exponential moving averages (EMAs) have made a ‘death cross’ with the 200-period EMA.
This typically indicates that bearish momentum is gaining steam and it also confirms a change in the direction of the price trend.
The price broke below a key support at $2.22 and has not retested it yet. However, it seems to have bounced off the $2.10 level, which is another key support to watch in this lower time frame.
Momentum indicators are starting to improve as the Relative Strength Index (RSI) just moved above its 14-day moving average. If the price retests this key level and bounces off it, it could move to the nearest key level at $2.22, meaning a potential 6% short-term gain.
Identifying the most promising cryptocurrencies can be a daunting task for investors. A new crypto presale called Snorter (SNORT) makes it easier through the launch of a trading bot that snipes the best opportunities in the Solana ecosystem.
Snorter (SNORT) Raises $700,000 to Launch Its Powerful Automated Trading Tool
Snorter (SNORT) is a Solana-based project that generates trading signals on Telegram for the community following a sophisticated algorithm designed to snipe hidden gems.
This bot offers access to low trading commissions and limit orders, and has incorporated scam-protection features that automatically detect potential rug pulls and honeypots.
It will also copy the best and most successful strategies from seasoned and profitable traders with a robust track record.
The project will be first launched in the Solana network but the developing team plans to expand its reach to the Ethereum blockchain as well to cover the majority of meme coins and other similar tokens in the crypto space.
The demand for $SNORT will likely explode once the trading bot starts to deliver its first positive results. Hence, buying the token at its discounted presale price will position early buyers to reap the highest returns.
To buy $SNORT, head to the Snorter website and connect your wallet. You can either swap USDT or SOL for this token or use a bank card to invest.
