Ripple: XRP Slides Below $1.55 Amid Market Pressure: More Losses on the Horizon?
XRP is currently trading below $1.66 after a notable decline. XRP is between $1.60 and $1.65, down about 11% over the past day.
Quick overview
- XRP is currently trading between $1.60 and $1.65, down about 11% over the past day.
- The cryptocurrency has experienced a significant decline from recent highs of around $1.90–$2.00 earlier this month.
- Market pressures, including geopolitical risks and declining Bitcoin prices, have contributed to XRP's downturn.
- Analysts are divided, with some predicting further declines while others see potential for a bounce due to bullish divergence.
XRP is currently trading below $1.66 after a notable decline. XRP is between $1.60 and $1.65, down about 11% over the past day.
Details on the Recent Movement. 24-hour range: Low ~$1.55, high ~$1.75 after a wider decline from recent highs around $1.90–$2.00 earlier in the month.
Recent performance: Much of January’s earlier gains have been erased, down about 6% in the last 24 hours and about 8% over the last week. Market context: This aligns with wider crypto market pressure (e.g.). g. macro factors like tariff tensions and geopolitical risks (e.g., Bitcoin declining toward $87K in some reports).
Trump-Iran mentions in sentiment, and risk-off selling. Additionally, XRP open interest has plummeted to multi-month lows, indicating less leverage and trader caution.
Technical notes: $1.8 had been repeatedly tested as a crucial support zone. Bearish signals have resulted, with some analysts cautioning that if momentum doesn’t reverse, there may be more declines towards $1.60–$1.72. Others, however, believe that this is a shakeout, with bullish divergence for a bounce and spot volume spikes close to support.
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