Ripple executives have reaffirmed their commitment to XRP’s central role as the company gears up for an important community event in February. As of now, XRP is trading under $1.90, with data from TradingView indicating that leveraged positions are steadily decreasing. Specifically, XRP is sitting about 25% below its 200-day moving average, a significant indicator for assessing long-term price trends, and open interest in derivatives has dropped below $2 billion.
This moment is particularly critical as Ripple aims to maintain the trust of XRP holders while expanding its product offerings and promoting the XRP Ledger (XRPL) among exchanges and institutional investors. Despite positive messaging from the company, there are concerns within the trading community regarding whether upcoming updates will stimulate demand or merely add to the noise surrounding XRP’s market performance.
The forthcoming XRP Community Day, scheduled for February 11 and 12, is anticipated to address these issues, with executives set to outline strategies and priorities that could shape the market’s perception. The event is particularly vital for reinforcing XRP’s status as the company leans on these community gatherings to align market expectations with its roadmap.
Reece Merrick, a Ripple executive, emphasized on the social platform X (formerly Twitter) that “XRP will continue to be at the heart of the @Ripple vision,” encouraging followers to pay attention to the programming for the February event. His remarks come in response to investor concerns suggesting that Ripple’s newer projects might dilute XRP’s significance.
Monica Long is expected to provide clarity on the company’s strategic direction during the community session, while CEO Brad Garlinghouse is set to discuss XRP’s role within global finance, according to a report from The Coin Republic.
On another front, Luke Judges, Ripple’s global partner success lead, emphasized that despite some exchanges prioritizing Ethereum due to existing infrastructure, the firm’s RLUSD team remains focused on promoting the XRPL in all centralised exchange discussions. Reports indicate Judges highlighted that platforms integrating RLUSD either support XRPL from the start or have committed to do so, stating, “We love XRP and XRPL.”
Ripple’s upcoming event will feature three live sessions, covering regions including the Americas and Asia-Pacific, focusing on regulated XRP products, exchange-traded funds, wrapped XRP, and decentralized finance. Notable speakers will include Garlinghouse and Long.
Garlinghouse has been cautious in addressing short-term price fluctuations, instead opting to highlight the broader market landscape. During a recent interview at Davos, he expressed a bullish outlook, confidently predicting a potential all-time high for XRP.
However, XRP’s ongoing struggle to break through crucial technical thresholds has resulted in it being overshadowed by larger cryptocurrencies, which typically attract more risk-tolerant investors during uncertain market conditions. The established infrastructure supporting Ethereum further complicates XRP’s position as new stablecoins often find their initial support on networks with existing backing from exchanges.
Despite the efforts to reassure the market and organize impactful events, XRP’s trading patterns have yet to reflect significant shifts. The trend of lower highs and lower lows has persisted since October, and the waning open interest suggests that fewer traders are willing to back a strong comeback, especially in a volatile crypto environment.
The crucial question remains whether the information and products revealed during February’s community sessions will spur exchanges and institutions to expedite their support for XRPL and whether this will translate into a positive price movement for XRP.
