Bitcoin lost its support at $7,000 earlier today, subsequently leading XRP and virtually all other major altcoins to post notable retraces that have cut into the gains incurred as a result of the recent market-wide uptrend.
It now appears that XRP is at risk of seeing even further downside due to its key near-term support level taking a “bashing” as bulls struggle to defend against intense selling pressure.
This could also be further perpetuated by Bitcoin’s current weakness as it hovers just slightly above its critical near-term support at $6,800.
Crypto Market Sees Intense Retrace as XRP Plunges to Key Support
At the time of writing XRP is trading down just under 5% at its current price of $0.184, which is right around its key support that has been established throughout the past few weeks.
Today’s decline has led the crypto down from daily highs of $0.195 that were set just a few hours ago, with the decline coming about in tandem by that seen by the benchmark cryptocurrency.
Bitcoin previously gained what appeared to be a stable foothold within the lower-$7,000 region, even surmounting the previous resistance it was facing around $7,200.
Bulls did not prove to have enough strength to support BTC within this price region, however, and it is now at risk of breaking below its key multi-week support that has been established around $6,800.
If Bitcoin breaks below this level, it is highly probable that it will cause altcoins like XRP to similarly see some intense downwards momentum.
XRP may be particularly impacted by this potential BTC downtrend, as the cryptocurrency has a history of being prone to underperforming Bitcoin during weak market conditions.
Technical Strength Degrades as Analysts Eye Notable Downside
Analysts believe that XRP is poised to see significant near-term weakness due to a dwindling multi-week support level that it is currently in the process of testing.
This support exists between roughly $0.177 and $0.182, and has held strong on multiple occasions throughout the month of April.
One popular pseudonymous trader on Twitter spoke about this level in a recent tweet, explaining that he doesn’t believe it will be able to hold strong for too much longer, offering a chart showing downside targets at $0.162 and $0.142 respectively.
“XRP – I don’t think this support is going to take much more of a bashing,” he said while pointing to the below chart.
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Featured image from Unsplash. origin »
What to Know: $XRP’s breakout was fueled by renewed risk appetite as investors pulled funds from gold. The token has strong support near the $2. 42 zone, with a decisive close above $2. 56 signaling a run to $2.
Ripple’s XRP is under heavy selling pressure, slipping below $3 as bears take control. With key support at $2. 74 in focus, a break lower could send the token to a three-month low unless bulls step back in.
Key Takeaways
What does the 440M XRP whale sell-off reveal about sentiment?
Massive whale exits highlight rising caution and fading optimism, driving XRP closer to its critical $2. 72 support zone.
XRP price holds firm near $2.70, consolidating within a bullish falling wedge. Accumulation at this support hints at a possible breakout toward $3.55. Over recent weeks, XRP (XRP) price has displayed a highly technical consolidation pattern around its $2.70 support…
The crypto market has seen improved performance over the last 24 hours after a bearish weekend. Bitcoin, Ethereum, and Ripple (XRP) are showing signs of stabilization and recovery. The three major cryptocurrencies are holding above key support levels after recent declines.
XRP price is holding support at $3, drawing fresh attention as markets wonder whether it can turn that line into a launchpad. In recent days, losses from large whale sales threatened to pull XRP under, yet it stayed firm at that level.
XRP has bounced sharply from high time-frame support after tapping key liquidity levels. But without a strong defense of the $2.09 zone, this recovery risks turning into another failed rally. After a multi-day correction, Ripple (XRP) printed a strong, impulsive…
1B XRP unlocked as price retested a key support near $2. 14 amid rising caution.
NVT ratio plunged while exchange reserves drop, signaling mixed investor sentiment.
Since early June, over 1 bThe post XRP faces $2.
XRP is at a crucial turning point as the cryptocurrency struggles to maintain support at the $2 level. A breakdown could trigger a significant decline, while a successful defense may pave the way for a bullish recovery. Here is today’s XRP news.
XRP has been trading in a decline over the past few days alongside the broader cryptocurrency market. However, despite this lull, the XRP price has managed to maintain its critical support levels and is currently positioning itself for a potential recovery.
XRP's price continued to hold on to the $0.5557 support.
The liquidation heatmap indicated that there were consolidations around $0.56–$0.58.
Ripple [XRP] hovered just above a key support The post XRP holds on at key support level: Will the altcoin rise or fall? appeared first on AMBCrypto.
XRP price started a fresh decline from the $0. 5320 resistance zone. It is now testing the $0. 5180 support and might even test the $0. 5120 support zone. XRP failed near $0. 5320 and started a downside correction.
XRP price extended losses below the $0. 5220 support zone. It tested the $0. 5120 support and now attempting another recovery wave toward $0. 550. XRP is struggling to start a fresh increase above the $0.
XRP price is holding the key support at $0. 5220. The bulls could aim for a fresh increase unless there is a close below the $0. 5220 support. XRP is struggling to start a fresh increase above the $0.
A popular crypto analyst on X, known as @ChartMonkeyBTC, has issued a dire warning about the future price trajectory of Ripple’s XRP token. According to the analyst’s technical analysis, XRP’s chart is “not looking good,” and the cryptocurrency could potentially dip by a staggering 60% from its current levels if a critical support level fails […]
The post Ripple’s XRP Chart Is ‘Not Looking Good’: Could Dip 60% More if This Support Breaks appeared first on CaptainAltcoin.
XRP, the cryptocurrency associated with Ripple, faced a tumultuous ride in recent weeks as its price witnessed a significant downturn. However, an interesting turn of events has unfolded as the coin found solace at a crucial support trendline coinciding with the psychological level of $0.
XRP price is trading below $0. 60, down 5% in the past 24 hours. BitPay recently announced worldwide support for XRP payments. Key price levels are at $0. 55 and $0. 70, respectively demand and reload zones.
XRP price has shown a strong reaction after the (fake) news of the alleged sale of 9,800 BTC by the US government and the subsequent sell-off across the crypto market, staying above the key support. However, XRP investors have yet another damper to digest today.
The crypto market is bouncing from daily support levels with XRP outperforming larger cryptocurrencies, such as Bitcoin and Ethereum. This token has been trending to the upside and moving against the tide even when conditions were unfavorable on small timeframes.
XRP (XRP) is showing bullish signs in the weekly time frame but is trading inside a short-term corrective pattern.
The post XRP (XRP) Bounces Close to 900-Day Support Line appeared first on BeInCrypto.
XRP has retraced on its chart over the last few days although the coin had attempted to head upwards, the bulls tired out. XRP at the moment has secured $0. 30 as a strong support level. Price of the asset has to rise above its immediate resistance over the upcoming trading sessions in order for the bulls to take charge.
Since touching a local high of $1.4 during the first week on September, XRP has been buried under a pile of selling pressure. Heightened by Bitcoin's retracement from $48K and a bearish symmetrical trThe post XRP: Why bulls need to bring their A-game before this support level is breached appeared first on AMBCrypto.
The Ripple (XRP) price has retraced all the way back to an important support level. If the support holds and can give XRP a bounce, there is a lot of room to the upside for the price to go. XRP Long-Term Breakout At the beginning of July, the XRP price broke out from a long-term […]
The post XRP Wrestles with Support, Hoping for a Reversal appeared first on BeInCrypto.
Cryptocurrency ATMs remain increasingly popular among operators and users alike. They provide convenient access to Bitcoin, as well as select altcoins and assets. Following the investment by Xpring into Coinme it seems to be a matter of time until XRP support is coming to select Bitcoin ATMs.
South Africa’s iCE3X Crypto Exchange Adds Support For XRP The iCE3X digital trading platform has announced support for Ripple’s XRP token. This means that users can now trade XRP against Bitcoin as well as the local fiat currency, the South African Rand (ZAR).
By Dmitriy Gurkovskiy, Chief Analyst at RoboForex The XRP is under pressure Tuesday, trading around $0. 3030. On H4, the price left the triangle by breaking out the support. The downtrend may last for long, with the first target at the fractal support of $0.
Long-Term Outlook A look at the Weekly chart for XRP shows that the price is trading at $0. 31 facing very close resistance from the 20 and 40-period Moving Averages. It is trading slightly above the $0.
Support for XRP moving forward: $0. 3028, $0. 2989, $0. 2858, $0. 2811, $0. 2669. Resistance for XRP moving forward: $0. 3106, $0. 3185, $0. 3291, $0. 3361,…
The post Ripple Price Analysis: XRP Continues to Fall As It Approaches Support at $0.
With Christmas over, cryptocurrency markets at at a standstill. Traders are on the sidelines waiting for the next move. With New Year coming up, the sentiment is hopeful. However, as of right now there isn’t much momentum in either direction.
CoinSpeaker
SBI’s Newly Launched Crypto Exchange VCTRADE Adds Support for Bitcoin, XRP and Ethereum
SBI’s VCTRADE announced that they have added support for XRP, Bitcoin, and Ethereum.
XRP has been on quite a rally for the past two days. After hitting a low of $0.28, the price jumped over 15% in a single day all the way to $0.33. Today the asset bounced off the support line and only a few hours ago XRP jumped another 5% all the way to the […]
The post XRP Price – Can Support Hold at $0.35? appeared first on NullTX.
Ripple’s XRP has largely outperformed Ether during these market downturns resulting in it becoming largest altcoin by market cap. After testing support at $0. 4 on multiple occasion, XRP broke below it over the weekend and formed a low of around $0.
XRP has appreciated since the listing of 0x Project, ZRX, to Coinbase Pro. Many investors believe the third-ranked cryptocurrency by total market cap stands a legitimate chance of being the next asset listed to Coinbase Pro.
The XRP market just hit a historic milestone as the first U. S. spot XRP ETF, Canary Capital’s XRPC, officially debuts on Nasdaq, sending bullish shockwaves for the XRP price and other assets in the market.
XRP has spent the past week on the continuation of a downtrend from the previous week, slipping from above $2. 50 before rebounding around $2. 12 and now hovering around $2. 30. The price action reflects a market struggling to find direction, caught between bullish optimism and lingering selling pressure.
XRP community figure Diep Sanh made a tongue-in-cheek prediction about future market behavior, saying investors would be “Shi**ing their pants” if XRP slid from $1,200 to $1,000 sometime around 2070.
XRP has been a top performer during this recent bull market, beating Ethereum and almost all other cryptocurrencies in ROI. But could a recent bearish signal suggest the top altcoin could drop by 70-80% from current levels? XRP Triggers Bearish Crossover of Monthly LMACD XRP monthly LMACD has crossed bearish for the third-time ever The two past bearish crossovers resulted in an 87% and 71% drawdown AFTER the signal fired The signal is still unconfirmed, so bulls must push price much higher this month or risk seeing the signal confirm pic.
XRP has been on a consistent downward trend since the beginning of the just concluded week. A steady flow of consecutive bearish candles on the daily timeframe has pulled the price lower each day, eventually guiding it toward an important support at the time of writing.
XRP stood firm as crypto markets took a beating on Tuesday. Most coins fell hard, but XRP avoided hitting new lows. Market watchers now wonder if the altcoin might recover faster than other cryptos.
Renowned trader and market commentator Jacob Canfield (@JacobCanfield) has identified XRP as the standout performer among altcoins, sharing a price chart on X that underscores the token’s recent momentum.
