XRP, one of the major cryptocurrencies, saw a steep drop in its price over the last 24 hours. The token plunged from $2.15 to $1.77 as markets reacted negatively to escalating global trade tensions led by Donald Trump.
Currently XRP Price trading at $1.87 as per Coinpedia Market data.
For a more detailed XRP Price Prediction 2030, check out our full analysis!
$65 Million in XRP Positions Wiped Out
According to data from Coinglass, XRP’s sharp decline triggered over $65 million in liquidations. These losses came as part of a broader crypto market wipeout that erased $1.39 billion in total.
The majority of these liquidations affected long positions—those betting on the price to rise. In contrast, short positions, or bets on falling prices, saw relatively minor impacts.
XRP Falls Below Key Technical Level
For the first time since November 2024, XRP has dropped below its 200-day Exponential Moving Average (EMA), a widely watched indicator of long-term momentum. This move could signal deeper trouble for the altcoin if buyers fail to regain control.
Volume Surge Suggests Bearish Trend
Data from Santiment shows that XRP’s trading volume has surged close to $10 billion. While higher volume typically supports price increases, in this case, it appears to be driven by selling pressure.
A rising volume alongside falling prices often suggests bearish sentiment, as more traders rush to exit positions.
Technical Indicators Point to More Downside
XRP’s daily chart had previously formed a double-bottom pattern, hinting at a possible price recovery. However, with the recent drop below the psychological $2 support, that bullish setup has now been invalidated.
Additionally, the Relative Strength Index (RSI), a momentum indicator, continues to fall—adding more weight to the bearish outlook.
If current conditions persist, XRP could dip to $1.52 and possibly even $1.09. In a worst-case scenario, the price may fall as low as $0.38.
Is a Recovery Still Possible?
While the short-term outlook appears bleak, all hope isn't lost. If XRP manages to bounce back above the 200-day EMA, the price could recover to $2.23, which aligns with the key Fibonacci 0.618 retracement level. If bullish momentum returns in full swing, a move back above $3 is not out of the question.
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