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Anjali Belgaumkar
Anjali Belgaumkar
Author
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
- Apr 09, 2025 12:12 UTC
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XRP Price News Today
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XRP $ 2.08 (-0.35%) 
XRP drops over 9%, trading at $1.78 amid broader market weakness linked to US-China trade tensions and Bitcoin's decline.
XRP fails to break $1.95 resistance, now testing key support at $1.74–$1.75; trend remains bearish within a descending channel.
XRP’s price is currently down by more than 9%, trading at $1.78 at press time. This downturn aligns with the broader market’s struggles, where major cryptocurrencies are also facing declines due to ongoing tensions in the US-China trade war.
Yesterday, Ripple made headlines by acquiring a prime broker, a move viewed positively for the project. However, short-term price movements for XRP are still heavily influenced by Bitcoin’s performance, and, by extension, the stock market. Despite a slight bounce toward the end of the stock market session, the broader market was bearish, which had a direct impact on XRP’s price action.
XRP’s Struggles with Key Levels
XRP failed to reclaim the crucial $1.95 to $2 level, which remains a significant resistance zone. While it’s possible that XRP may eventually push past this level, it largely depends on Bitcoin’s performance, as XRP’s correlation with BTC remains strong at 85%. After yesterday’s rejection from $1.95, XRP dropped to a local support level around $1.75, where it has managed to hold steady, showing some volume support at this price point.
Short-Term Retracement and Support Levels
In the short term, XRP is retracing and approaching a key support level between $1.74 and $1.75. While it’s possible to see a bounce from this support zone, the overall trend remains bearish as lower highs and lower lows continue to form within a descending parallel channel.
Over the past 24 hours, XRP faced rejection at a previous support level now acting as resistance. This shift from support to resistance is a clear bearish indicator, reinforcing the overall downward trend in price.
Downside Price Targets for XRP
The key downside targets for XRP include the $1.60 range and the $1.74-$1.75 support zone. Traders should watch these levels closely as potential points for further price action or reversals.
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FAQs
XRP is down over 9% due to broader crypto market weakness tied to US-China trade tensions and Bitcoin’s poor performance.
XRP has an 85% correlation with Bitcoin, meaning BTC price trends heavily influence XRP’s short-term movements.
Yes 
No 
