- XRP price plunged 15% in 24 hours amid Trump’s trade stance, breaking key support and risking deeper losses.
- Despite the drop, whale wallets increased XRP holdings while network activity surged, hinting at growing user adoption.
Ripple’s XRP is under selling pressure, with its price slipping 15% in the last 24 hours. Currently, the token is trading at $1.80, along with a 24% fall in the monthly frame. The drop came amid President Donald Trump’s aggressive stance on closing the U.S. trade deficit. While Trump remains open to a deal, he insists it will only come after the deficit gets dealt with.
Meanwhile, Bitcoin and Ethereum didn’t escape the carnage either, falling to $77,000 and $1,500, respectively, as of Monday. It’s clear the weight of Trump’s tariffs, especially the reciprocal ones rolled out on April 2, is reverberating well beyond stock markets and into digital assets.
Whales Quietly Accumulate XRP — Holdings Jump Amid Price Drop
Amidst the uncertainty, whale wallets are quietly holding XRP, snatching up discounted tokens at an accelerating pace. According to Santiment, holders with between 100,000 and 1 million XRP now control 5.26% of the total supply, up from 5.18%. Larger holders, those between 10 million and 100 million tokens, have also ramped up their stakes, moving from 3.04% to 3.40%.
While the price tumbled, XRP’s network activity conversely surged. Active addresses over the past 30 days rose from 78,811 on March 7 to 82,000. This jump could mean more people are using the token, possibly exploring XRP for transfers or decentralized apps, hinting at broader adoption even as markets stay volatile.
In contrast, XRP recently snapped below a crucial support level at $2.00, exiting a descending triangle that once hinted at a painful 68% fall. Now, with that floor gone, sellers are in control. The Relative Strength Index (RSI) is sliding further toward the oversold zone, raising fears of another dive toward $1.50 or even $1.00. Some even eye the possibility of XRP bottoming out at $0.67.
IMF’s Silent Pause on XRP — What It Might Mean
During the Singapore Fintech Festival, Ripple CEO Brad Garlinghouse asked Ross Leckow, Deputy General Counsel at the IMF, whether they’d consider holding XRP. Analyst Xaif, who shared the discussion on X, stated that Leckow’s reaction, which said nothing, meant that there could be operations that were the best-kept secret, among other things.
Leckow clarified that the IMF can only hold crypto until a member nation first recognizes it as a legal tender. No major economy has taken that step yet, but some countries are exploring blockchain technology for their financial systems. Meanwhile, the U.S. establishment of a strategic Bitcoin reserve is now a green signal to crypto adoption on an official scale.
At a 2023 press conference organized with the South Korean monetary authority, IMF head Kristalina Georgieva focused on cryptocurrencies’ negative aspects. She warned that such digital assets may weaken the monetary, fiscal, and national reserve sectors and even make it harder for policymakers to enforce capital flow restrictions.
