XRP climbed to $1.36 Tuesday evening, shaking off a mid-day slump that had briefly sent the token to its lowest levels in weeks. The digital asset started the day trading near $1.32 before sliding to a session low of $1.29 during early afternoon trading, but a sudden burst of buying pressure in the final hours of the day pushed the price up by more than 3% from its morning open.
The volatility comes as the broader crypto market remains pinned between institutional adoption and a fragile global landscape. While geopolitical tensions in the Middle East have pressured risk assets since February, traders appeared to find fresh footing today.
Much of the optimism stems from the recent “Clarity Act” momentum and the March 17 guidance from the SEC and CFTC, which officially classified XRP as a digital commodity. This regulatory green light has paved the way for the U.S. Spot XRP ETFs that are now a staple of the market.
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On the institutional side, the NASDAQ-listed XRPI ETF mirrored the token’s recovery, trading up 2.68% to $7.57. These financial products have seen fluctuating interest as investors weigh the benefits of Ripple’s recent Mastercard partnership against the reality of 3.75% interest rates and $100 oil.
“XRP is being buffeted by a very unstable macro and global environment,” noted analyst Alex Carchidi in a recent market review. He pointed out that while the underlying “resume” of the asset—including its link to Mastercard’s $9 trillion payment flows—is stronger than ever, the “paycheck” or price hasn’t always reflected that growth due to the ongoing war in Iran and regional supply chain disruptions.
Despite the recovery to $1.36, some technical indicators suggest the asset is still fighting an uphill battle. On-chain data from Santiment earlier today indicated that the MVRV ratio—a measure of whether traders are in profit or loss—had dipped to levels not seen since the 2022 market crashes, suggesting many long-term holders are still “underwater.”
However, social media sentiment remains a different story.
Commentators like The Real Remi Relief have recently argued that if XRP can mirror its 2017 growth cycle, “a similar percentage move from the current price range would place the cryptocurrency trading above $1,000.”
While such a leap remains speculative, the narrative helped fuel a late-session rally that saw XRP break through the $1.35 resistance level.
For now, the market is keeping a close eye on the April 13 Senate return, which could provide further updates on the market structure bill currently moving through Congress.
If the current price floor near $1.30 holds, traders expect the next test of resistance to sit near the $1.40 mark, a level that has rejected several recovery attempts over the past month.
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