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The Ethereum worth has dropped greater than 6% prior to now 24 hours to commerce at $2,928.35 as of two:52 a.m. EST, with buying and selling quantity spiking 34% to $29.3 billion.
That ETH worth plunge comes even after Ripple rolled out RLUSD to a number of Ethereum layer-2 chains, together with Optimism, Base, Inkchain, and Unichain, utilizing Wormhole’s Native Token Switch (NTT) customary.
RLUSD is increasing to Layer 2s utilizing @wormhole’s NTT customary for native, safe transfers and can turn into the primary U.S.-based, trust-regulated stablecoin on @Optimism, @Base, @Inkonchain and @Unichain: https://t.co/ju9KyoOIBa
This may improve utility for XRP and RLUSD by…
— Ripple (@Ripple) December 15, 2025
“As chains proceed to construct for real-world use, the necessity for a extremely regulated stablecoin is stronger than ever,” the Ripple staff stated.
The selection of ETH L2s comes as Ripple goals to take its product to the place customers already are. The staff emphasised that the longer term is multi-chain, because it can not count on all customers emigrate to the XRP Ledger (XRPL) to make use of their merchandise.
Moreover, by increasing to Layer 2s, Ripple Government Reece Merrick says that RLUSD should be “chain-agnostic.” It must operate simply as effectively on Ethereum-based networks because it does on the XRPL.
We goal to make sure that RLUSD is the definitive and trusted gateway for the whole digital asset financial system, and the first impetus is the popularity that the way forward for crypto is multichain and RLUSD must exist wherever there’s demand
— Reece Merrick (@reece_merrick) December 16, 2025
Subsequently, RLUSD must be wherever demand exists.
Ethereum Worth On A Sustained Bearish Pattern
The ETH worth, after surging in July by way of a parabolic rally to an all-time excessive (ATH) of round $4,950 in August, corrected by way of a falling channel sample as sellers booked income.
Because of the bearish strain, the Ethereum worth has constantly dropped under key help ranges on the Fibonacci Retracement each day chart.
Nonetheless, the 0.786 Fib stage round $2,762 offered ETH with some bullish help, and the value regained the $3,000 stage above the 0.618 Fib zone at $3,223.
The worth of ETH has since dropped to round $2,928, as Ethereum trades inside a falling channel sample, signaling that bears nonetheless have management.
ETH nonetheless trades under each the 50-day and 200-day Easy Shifting Averages (SMAs), which cements the general bearish pattern. The SMAs have additionally shaped a demise cross round $3,489, because the 200-day SMA ($3,564) crossed above the 50-day SMA ($3,221).
In the meantime, the Relative Power Index (RSI) has turned unfavourable, falling from above the 50-midline to 41, indicating ETH is beneath intense promoting strain.
ETH Worth Prediction
In response to the ETH/USD chart evaluation, ETH stays in a corrective bearish construction on the each day timeframe.
Ethereum is at the moment buying and selling under the 0.618 Fib at $3,223 and beneath each main transferring averages, reinforcing draw back strain. So long as the ETH worth stays under this stage, rallies are more likely to be corrective.
On the draw back, the 0.786 Fib at $2,760 is probably the most speedy help stage. A each day shut under this stage would weaken any bullish hopes and improve the likelihood of a transfer towards the 1.0 Fib close to $2,175.
Conversely, if consumers defend the 0.786 stage and momentum stabilizes, the Ethereum worth might try a rebound towards $3,220 (0.618 Fib).
A stronger restoration would require reclaiming $3,547 (0.5 Fib), adopted by $3,870 (0.382 Fib).
General, ETH worth actions counsel a short-term range-bound to downward bias, with any try for a bullish rally more likely to face promoting strain till bulls reclaim the SMAs and the falling channel is damaged decisively.
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