In a troubling week for cryptocurrencies, XRP has not been spared, registering an 11.3% decline over the last 24 hours and an overall 8% drop over the past week. This downturn mirrors the difficulties faced by Bitcoin and reflects a broader trend of investor uncertainty that is currently shaking the crypto market.
Why is XRP Crashing?
XRP’s downturn can be directly linked to two critical factors currently influencing the broader cryptocurrency landscape. Initially, the ripple effect (no pun intended) from Bitcoin’s failure to break through the $70,000 resistance level has cast a shadow over the entire market, including XRP. The second factor exacerbating the decline is the spreading fear among investors, fueled by analysts’ dire predictions regarding Bitcoin’s potential post-halving crash. This pessimistic forecast has sparked a broader market panic, prompting a sell-off that has significantly impacted altcoins such as XRP.
XRP Price Analysis: XRP Down by more than 10%
Currently, XRP’s price stands at $0.54, marking an 11.3% drop within the past day and an 8% decrease over the week. These figures highlight the volatility and the reactive nature of XRP to overarching market movements and sentiments.
XRP Price Prediction: How Low Will It Go?
Looking ahead, if the negative trend continues, XRP could test further lows. The immediate targets if the downturn persists are likely to be around $0.50, followed by $0.45. Should the market sentiment deteriorate further amidst sustained selling pressure, XRP might even plunge toward the $0.38 mark. Each of these levels represents significant psychological and technical support zones, where traders might expect to see some buying activity. However, the potential for recovery or further decline will hinge greatly on the broader market conditions, particularly any stabilization or additional disturbances in Bitcoin’s trajectory.
Credit: Source link
Bitcoin 
Ethereum 
Tether 
XRP 
BNB 
USDC 
Lido Staked Ether 
Dogecoin 
TRON 
Cardano 
Wrapped stETH 
Wrapped Bitcoin 
Wrapped Beacon ETH 
Chainlink 
Hyperliquid 
Bitcoin Cash 
Wrapped eETH 
Stellar 
Ethena USDe 
USDS 
Binance Bridged USDT (BNB Smart Chain) 
LEO Token 
Sui 
WETH 
Hedera 
Avalanche 
Coinbase Wrapped BTC 
Litecoin 
WhiteBIT Coin 
Monero 
Zcash 
Shiba Inu 
Toncoin 
USDT0 
Cronos 
Ethena Staked USDe 
Mantle 
Dai 
Bittensor 
Polkadot 
MemeCore 
World Liberty Financial 
sUSDS 
Uniswap 
Aave 
Bitget Token 
OKB 
USD1 
Ethena 
BlackRock USD Institutional Digital Liquidity Fund