In the current unstable market, Ripple Labs’ XRP has decreased in value, similarly to Bitcoin and Ethereum. Nevertheless, XRP has managed to hold steady at current levels, suggesting potential for future price movement.
Current Market Position of XRP
On March 20, 2025, a shift in market sentiment caused a sharp decline in crypto prices. XRP fell by 4% and reached a critical support level, affecting its future price movement.
Price and Support Level Analysis
Experts note that XRP’s price recently broke out from a bullish pattern but faced resistance. Due to market conditions, it has retested the breakout level at $2.40, aligning with the 200 EMA on the four-hour chart.
Trends and Forecasts for XRP
If the XRP price holds above $2.38, it could rebound and aim for $3.50. However, if it drops below $2.38 and closes a four-hour candle under this level, it may decline 13% to $2.05.
XRP is currently priced at $2.42, down 4% in the last 24 hours. Weak sentiment has led to a 20% drop in trading volume, as investors remain cautious. Intraday traders are betting on the short side, aligning with the market trend. Data shows that traders are over-leveraged at $2.40, with $26 million in long positions, while at $2.54, $67 million in short positions. This indicates bearish sentiment, increasing the likelihood of price consolidation around this level.
