Today, March 31, marks another day of XRP’s continued downtrend as it is now trading at $2.06

Today, March 31, marks another day of XRP’s continued downtrend as it is now trading at $2.06. This marks a 5.3% daily

Today, March 31, marks another day of XRP’s continued downtrend as it is now trading at $2.06. This marks a 5.3% daily value degradation and a 12.8% weekly fall in price. The chart below, provided by Shirinyan on March 31, further showcases this concerning downturn.

Chart 1 – provided by Shirinyan, published on TradingView, March 31 2025

The price of XRP has fallen to close proximity with the crucial psychological support of $2. The price line has retested this support a few times now as XRP has not closed below $2. However, we can see some worrying, bearish signals when analyzing the market with technical indicators. The 200-day EMA represents one of the last essential supports for XRP’s price. This is because XRP has broken below the 50 and 100-day EMAs before. Additionally, in the chart, we can also see a descending triangle pattern, which historically comes before a breakdown.

According to the chart above, we can see that the volume also supports a bearish XRP price prediction. This is because there have been some sudden surges in volume; however, there has been no consistent increase in investor interest. The selling pressure of the XRP market has also been increasing, as the RSI is nearing the 37-point. This shows an influx of sellers as the RSI is close to being oversold. To avoid falling further, XRP needs to stay above the $1.80 to $1.85 support range. If this support range gets broken, the investor panic might set in, causing a catastrophic crash for XRP.

The SEC’s next closed meeting on April 3 could prove to be an essential variable in XRP price prediction. If we get an official confirmation of these developments, we can soon expect the return of XRP to the institutional market. Additionally, this will lead to the SEC approving the long-awaited XRP ETFs, starting Ripple’s explosive growth in the institutional sector.

Recently, there has been a lot of buzz surrounding the integration of XRP and SWIFT for facilitating cross-border payments. A former employee at SWIFT has stated that over 11,000 banks tested XRP on SWIFT and ATOMpay for ATOM price movements.

Furthermore, there have also been reports that Ripple is close to making an agreement with SWIFT. As such, if such development becomes official, the institution’s investment in XRP will skyrocket. This will also increase the XRP token’s utility and real-world use, leading to increased adoption and XRP price surge, potentially to a new ATH.