Ripple ($XRP ) continues to show a bearish technical bias, trading around $2.15 on Thursday. Despite positive news, including the launch of $XRP spot ETFs in Canada, the overall crypto market remains subdued, limiting price momentum.
Investor sentiment has remained weak even after the U.S. Federal Reserve kept interest rates steady at 4.25%–4.50%, in line with expectations. However, the Fed's hawkish tone—highlighting inflation concerns driven by tariffs—has kept crypto enthusiasm in check.
Meanwhile, Ripple is urging the UK government to accelerate the development of clear regulations for digital assets. In a blog post published Wednesday, the company emphasized the UK's potential to become a global leader in digital finance—if it builds a supportive regulatory environment.
Ripple called on UK officials to prioritize institutional crypto regulation and move swiftly on stablecoin policies to improve international interoperability. The firm welcomed proposals allowing foreign-issued stablecoins to circulate in the UK, reinforcing its role as a financial hub.
Ripple also highlighted ongoing progress toward tokenization standards, which it believes could reshape global financial markets. “With more stablecoin use cases and growing adoption of tokenized assets, the UK must act now to secure its leadership in finance,” the company stated.
Ripple’s call comes just as the GENIUS Act, a U.S. stablecoin bill, advanced from the Senate to the House, increasing pressure on other countries to catch up.
XRP Technical Outlook
XRP remains trapped in a sideways range, with support near the 200-day EMA at $2.09 and resistance around $2.24, where the 50-day and 100-day EMAs converge.
The Relative Strength Index (RSI) continues to trend below the midline, maintaining a bearish outlook since mid-May. A further slide toward oversold territory could increase the likelihood of a downward move.
If $XRP breaks below the $2.09 support, it may revisit $1.80, a level tested in early April. However, a recovery above $2.24 could open the door to a rally toward $2.65 and potentially $3.00, with a break above the descending trendline being the key trigger for renewed buying interest.
