Recent events have led to a significant drop in XRP's price. Let's explore the reasons and future forecasts.
Causes of XRP's Sharp Drop
Recent events, such as Trump's tariff war and the unlocking of 400 million XRP, have impacted the market, causing a more than 24% drop in token value. Amid the recent market swings, XRP also plummeted by 15%.
Market Analysis and Expert Opinions
Despite the current fall, many analysts remain optimistic about XRP's future, pointing to key support levels and potential recovery. Talks about a possible XRP ETF approval in 2025 and the closure of the Ripple vs SEC case add hope for improvement. Analyst EGRAG CRYPTO warned of a possible drop to $2.30 but noted this could present a buying opportunity.
Forecasts and Possible Scenarios for XRP
XRP's future depends on its reaction to key support levels. If it holds above $2.30, recovery might be possible. A break below $1.90 could further deepen the sell-off. Future Open Interest dropped by 35%, indicating prevailing bearish sentiment. Opinions consider a potential rally to $4, though unresolved legal proceedings continue to pose uncertainty.
While experts remain divided, XRP's prospects hinge on its ability to navigate current market challenges and recover from significant losses.
