Ripple’s decline has stalled at the critical $2 support level, with price action remaining subdued. This suggests low market activity, leading to a short-term consolidation phase.

By Shayan

The Daily Chart

XRP has been trading within a tight range, constrained by the 100-day and 200-day moving averages, signaling market indecision. Following a sharp decline, the price has now reached the crucial $2 support level, a key area that has held firm since December 2024.

Given the current low trading activity and the balance between buyers and sellers, XRP is expected to maintain consolidation above this level until a surge in demand or supply dictates the next major move.

The 4-Hour Chart

On the lower timeframe, XRP’s consolidation near the $2 support zone is more pronounced, indicating a state of equilibrium in the market.

A slight bullish divergence between the price and the RSI suggests the potential for buying pressure to emerge in the coming days.

Additionally, the recent price action aligns with the Wyckoff accumulation pattern, increasing the likelihood of a short-term bullish rebound. If this scenario plays out, Ripple could target the $2.5 level as its next major resistance.

TL;DR

• Binance futures traders are highly bullish on the two large-cap altcoins, according to recent data.
• However, both assets have headed south in the past day or so, which raises the question of whether too much optimism among crypto traders doesn’t lead to actual corrections.

70.33% of Binance traders with open $XRP futures positions are betting on a price increase! pic.twitter.com/pkoEmI3Ho4

— Ali (@ali_charts) April 6, 2025

Remember the infamous words of Warren Buffett – be greedy when others are fearful and vice versa? If the Oracle of Omaha is to be trusted, and his massive success rate and longevity certainly say so, then XRP investors should worry about the asset’s future price performance.

Moreover, Ripple’s cross-border token has already started to correct, and its price is close to the coveted $2 support line. According to analysts, this level holds particular significance in determining XRP’s upcoming moves. A bounce-off above could propel a surge to $2.6, but the opposite scenario envisions a massive drop to $1.2/3 if it fails.

67.61% of traders on Binance Futures with open #Cardano $ADA positions are betting on a price increase! pic.twitter.com/IjgmvPF9yU

— Ali (@ali_charts) April 6, 2025

The situation with ADA is quite similar, as the token has attracted a substantial wave of big bullish trades on Binance futures. Similar to XRP, Cardano’s price has tumbled by 5-6% in the past day (26% on a monthly scale), and now struggles to remain above $0.6.

The current level is also an important support line that could lead to a crash below $0.5 if it’s broken to the downside.

Oh, aside from Buffett, Santiment has also outlined countless times in the past that too much emotion in either direction usually leads to price moves in the opposite.

Aptos has shown consistent growth, closing March with a total value locked (TVL) of $1.03 billion, after first crossing the $1 billion mark in November.

According to Messari’s latest report, the figure reflects a strong climb from its earlier TVL range of $300-500 million seen between late March and mid-September 2024. Compared to the previous year, Aptos’ TVL rose by 109% in USD terms and a whopping 562% in APT terms. This increase occurred despite a 47% drop in the APT token price over the year.

USDT, USDC Drive Aptos Stablecoin Market Cap

The stablecoin market cap on the Layer 1 network reached a milestone on March 24 when it surpassed $1 billion for the first time, which marked an over 10x increase compared to the same time last year and triple the value from December.

This rapid growth has been fueled by major inflows into Tether’s USDT and Circle’s USDC after the launch of their native contracts on October 28 and January 31, respectively. While USDT saw its market cap soar over 8x to $680 million, USDC increased by 131% after climbing from $128 million to $295 million.

Aptos Labs has launched two major technologies – Zaptos and Shardines – to improve performance. These solutions aim to lower latency and increase throughput as Aptos works toward becoming a global transaction hub capable of processing 1 million transactions per second (TPS).

Zaptos is designed to improve Aptos’ pipelined architecture, where multiple block stages run in parallel for better efficiency. By optimizing this system, it sharply cuts end-to-end latency, thereby boosting overall performance and helping Aptos achieve faster, more scalable blockchain operations.

Shardines, on the other hand, brings a horizontally scaled execution engine by splitting transactions into smaller parts and distributing them across multiple nodes for parallel processing. This sysytem enables the network to manage more transactions at once, and significantly increase transaction speed and overall network efficiency.

Aptos is currently positioned as the 11th largest total value locked among blockchains, according to data compiled by DefiLlama.

Institutional Demand For APT

Bitwise filed to introduce a spot Aptos ETF in the United States last month. Although the network operates on a proof-of-stake model, the filing notably excluded any staking component. Additionally, Coinbase Custody is designated as the ETF’s proposed custodian in the application.

The asset manager had launched an Aptos Staking ETP on Switzerland’s SIX Swiss Exchange last November, following which a Spanish bank then allocated 2% of its holdings to it.