XRP price remains in a bear market this week despite some important network news and progress on its permissioned decentralized exchange vote.
Summary
- XRP price has crashed by 57% from its highest level in 2025.
- The vote for the Permissioned DEX is moving on smoothly and is likely to pass.
- Technical analysis suggests that it is hovering at a crucial support level.
The Ripple (XRP) token dropped to a key support level at $1.5463, down 56% from its 2025 high. This retreat has coincided with the broad crypto market crash that has hit Bitcoin and most altcoins.
XRP price has dropped despite some major ecosystem news. For example, the developers announced that Ripple Labs had received an EU-wide electronic money license. This license will make it easy for the company to ink deals with financial services companies in the bloc.
Ripple Labs has received more licenses in the past few months, including a U.S. banking charter and licenses in the UK and Singapore.
Meanwhile, the network activated the XLS-80 vote, which focused on permissioned domains. Most importantly, the Permissioned DEX vote is nearing its threshold.
The two amendments are important because they will enable institutions and other developers to build high-quality, regulatory-compliant decentralized exchanges. These DEX networks are different from other networks because they will include features such as Know Your Customer and Anti-Money Laundering policies.
The team believes that permissioned DEX will have more use cases in corporations. Some of these use cases are in stablecoin and fiat currency swaps, contractor and payroll payouts, cross-border business-to-business payments, and corporate treasuries.
The XRP Ledger network is also doing well in the tokenization industry. Data show that the value of the represented asset in the real-world asset tokenization industry rose by 265% over the last 30 days to over $1.45 billion.
XRP price prediction: Technical analysis
XRP price chart | Source: crypto.newsThe weekly chart shows that the XRP price has crashed over the past few months and is now hovering at a crucial support level that coincides with the Major S&R Pivot Point of the Murrey Math Lines tool. It has failed to move below this price several times since April last year.
The token has moved below the 50-week Exponential Moving Average and the Supertrend indicator. At the same time, the Relative Strength Index has continued falling and is now hovering near the oversold level.
Therefore, a move below this support will signal further downside, potentially to the key level at $1, about 35% below the current level. The alternative scenario is where it rebounds, potentially to the strong, pivot and reverse level of the Murrey Math Lines tool at $2.34.
Source: https://crypto.news/xrp-price-sits-at-key-support-as-permissioned-dex-vote/
