XRP is at risk of falling to $1.80 as the buying force weakens and trading remains sluggish.

Ripple (XRP) continues to maintain a bleak technical picture as it trades around $2.15 on Friday. This weakness clearly reflects the cautious sentiment prevailing in the crypto market, in the context of a lack of strong momentum to trigger a sustainable bounce back. The market's lull also somewhat overshadows important information about Canada's official launch of spot ETF funds for XRP on Wednesday.

Although the U.S. Federal Reserve (Fed) has decided to keep interest rates unchanged in the range of 4.25% – 4.50%, in line with investor expectations, this is still not enough to rekindle interest in risk assets such as cryptocurrencies, including XRP. On the contrary, the "hawkish" stance that the Fed continues to maintain – especially the warning about the short-term inflation risks due to the impact of tariff policies – has made investors more cautious and choose to stay on the sidelines.

Ripple calls on the UK to accelerate stablecoin development

Ripple believes that the United Kingdom holds a golden opportunity to become a "global leader in the digital asset space." However, to realize this potential, a clear legal framework is essential – a key factor in promoting innovation and expanding access to financial technology.

In a statement released on Wednesday, Ripple revealed that they have urged the UK government to prioritize the establishment of a transparent legal framework for digital assets, particularly institutional-focused assets, at the London Policy Conference held earlier this year.

The company emphasized that the early issuance of regulations for stablecoins will be a strategic move, not only to promote domestic development but also to enhance connectivity with international partners. Ripple also expressed support for the proposal to allow the circulation of stablecoins issued from abroad in the UK, viewing this as an important step to strengthen the position of this country as a leading global financial center.

Ripple recently emphasized that the UK government and regulatory bodies are starting to take the first steps towards establishing standards for the tokenization process — a move that is expected to "reshape the entire financial market in the future."

"In the context of the increasingly clear practical applications of stablecoins, and the gradual acceptance of crypto assets by the traditional financial community, the United Kingdom needs to quickly refine its legal framework to seize this opportunity. This will be the key for the country to assert its pioneering role in the global financial sector," Ripple emphasized.

This message comes at the right time as the GENIUS Act ( Guidelines and Framework for US stablecoin ) continues its legislative process, moving from the Senate to the House of Representatives in the US, indicating that the race to shape the future of digital currency is heating up on both sides of the Atlantic.

Technical Analysis: XRP is moving sideways in a narrow range

The price of XRP is currently fluctuating within a narrow range, constrained between the support zone at the 200-day exponential moving average (EMA) at $2.09 and the strong resistance area around $2.24 – where the two 50-day and 100-day EMAs converge.

The Relative Strength Index (RSI) continues to weaken below the neutral threshold, maintaining a negative trend since it peaked near the overbought area in mid-May. If the downward momentum of the RSI persists and slips deeper into the oversold region, the risk of a continued corrective trend will significantly increase.

XRP/USDT daily chart | Source: TradingViewThe demand at the 200-day EMA line could serve as a technical support point, triggering a short-term bounce back. However, the possibility of breaking this support still exists, with the scenario of the price plunging to the $1.80 mark – a level that was previously tested in early April.

On the contrary, if XRP can break out and close above the confluence of resistance levels at $2.24, a positive signal will be confirmed. At that point, the price may approach the mid-term downtrend line on the chart. Breaking through this trend line will open up new growth potential, bringing XRP towards important resistance levels at $2.65 – the peak established in June, and further to the $3 mark – the nearest peak recorded in March.

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