XRP’s price has taken a hit recently, and it’s not just XRP—Ethereum, Dogecoin, and Bitcoin are all down too. Bitcoin is struggling to hold the $85,000 mark, which is a key support level. So, what’s causing this sell-off?
A few key factors are at play. First, fresh tariffs announced by President Trump are causing market jitters, especially with new taxes on the auto industry. This uncertainty is making investors nervous, which affects both traditional markets and cryptocurrencies like XRP.
Another reason is the fear of a potential recession, fueled by inflation data and economic reports. Even though the fear of a recession isn’t fully backed by facts, it’s still affecting investor confidence. Plus, there’s a lack of liquidity—meaning not enough money flowing into the markets, which makes prices more volatile.
XRP has been catching a lot of attention lately, with experts trying to figure out where its price might head next. Some think XRP could hit between $10 and $11, but that’s not set in stone. A big factor to watch is the potential approval of an XRP ETF, which could really shake things up.
Crypto analyst Evan Aldo took a closer look at XRP’s chart and said it’s a bit unusual right now. He thinks XRP might hit around $5.83 soon, which is a key price level. However, he doesn’t expect it to break $6 this year, and reaching $10 might be a bit too ambitious.
Aldo also pointed out that if XRP can go above $3.30, the next target could be around $5. It’s important to understand that XRP has a history of staying flat for a while before suddenly jumping, so things could change fast. At press time, XRP has dropped more than 5% and is trading at $2.14.
XRP’s price is falling due to market-wide sell-offs, economic uncertainty, new tariffs, and concerns over liquidity, making investors cautious.
Some analysts predict XRP could hit $10, but resistance at $5.83 and market conditions may limit gains this year.
An XRP ETF could attract institutional investors, increasing demand and potentially driving prices higher, but approval remains uncertain.
It’s not every day you hear about a 77-year-old Indian business shifting gears to embrace…
The cryptocurrency market remains volatile, and XRP is showing signs of weakness despite recently climbing…
Pi Network has been making headlines in the crypto community, with growing speculation about a…
Recent data from the Dune Analytics reveals that Garden Finance has experienced a remarkable growth…
With Bitcoin hovering around $103,500, well-known crypto trader James Wynn has made a bold prediction:…
The cryptocurrency market is in a frenzy, with Ethereum's technical charts indicating the possibility of…
