- Ripple ongoing legal battle with the SEC and the anticipation of an XRP ETF continue to shape market sentiment.
- Ripple’s price movement remains uncertain, with a potential drop to $1.356 or a rebound above $2.31 signaling a bullish turnaround.
The cryptocurrency market is buzzing with concern as XRP plunges to $2.14, marking a 5.51% decline in the past 24 hours. With investors on edge, speculation is growing about a potential 36% drop. Could XRP fall further, or is a recovery on the horizon?
Ripple Holders Await Key Developments
XRP enthusiasts are eagerly anticipating two major catalysts: the long-awaited closure of the Ripple vs. SEC lawsuit and the potential approval of an XRP ETF. Notably, former SEC commissioner Paul Atkins has urged regulators to establish a supportive framework for cryptocurrencies, fueling discussions on the asset’s future.
However, despite optimism surrounding regulatory clarity, XRP’s price remains heavily influenced by macroeconomic factors. Recent tariff threats from Donald Trump, coupled with subdued market sentiment following the SEC’s decision to drop charges against Ripple executives, have put downward pressure on XRP.
Whale Movements and Liquidation Trends
On-chain data suggests that Ripple whales have significantly slowed down their activities, reminiscent of pre-U.S. election periods. Meanwhile, the derivatives market has seen mixed signals, with $5.9 million in long positions liquidated against a relatively small $486,000 in shorts. This indicates that bullish traders were caught off guard by the recent decline, further intensifying bearish sentiment.
XRP Price Prediction: What’s Next?
From a technical perspective, XRP’s fall below its 50-day EMA of $2.37 and the critical support level of $2.31 raises concerns of further downside. If the asset fails to hold above $1.967, it could spiral down to $1.356, marking a 36% drop from current levels.
On the flip side, if XRP manages to bounce from $1.967, historical trends suggest a potential climb back to $2.6. A move above $2.31 could serve as the first bullish confirmation, reigniting optimism among holders.
XRP’s near-term outlook remains uncertain, with key legal and regulatory developments playing a crucial role. While a drop to $1.356 is on the cards if bearish momentum persists, a swift recovery above $2.31 could flip the narrative bullish. Will XRP weather the storm and reclaim higher levels, or is a deeper correction imminent? Only time will tell.
