The XRP price has experienced a significant drop following the recent crypto and stock market meltdown. It went from a high of $3.3970 in January to a low of $1.7753, a 47% decrease. The crash is attributed to various factors, including Donald Trump's decision to impose tariffs on China, Mexico, and Canada. The daily chart shows that XRP is currently below the 50-day moving average, with the MACD and RSI trending downwards. However, there is a possibility of a bullish reversal indicated by a hammer candlestick pattern. If the price exceeds the $2 support level, a strong rebound and rally may occur, potentially reaching $3.400. On the other hand, breaking below the hammer's low at $1.7750 would invalidate the bullish view and lead to further downward movement. Recent liquidations of XRP tokens, along with Ethereum and Bitcoin, emphasize the effects of the crash. Nonetheless, positive catalysts like the potential approval of a Ripple ETF by the Securities and Exchange Commission (SEC) and the growing XRP Ledger ecosystem may contribute to the future price of XRP. The ecosystem is expanding with the addition of new networks and assets, and there is speculation that XRP may be included in the Strategic Bitcoin Reserves.



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