XRP's price has dropped 15% over the past week, reaching $2.09, causing concern among investors.
Current XRP Price Situation
As the month ends, XRP's price stands at $2.09 after sliding from a weekly high of $2.40. According to CoinMarketCap, a 3% loss was recorded in the last 24 hours. Despite minor recoveries at times, the overall trend remains bearish. Resistance levels at $2.17-$2.18 and $2.12-$2.13 have proved too strong for buyers, indicating a potential further decline.
Analysts on Expected Trends
Crypto analyst Livercoin stated, 'It's not looking good brev,' suggesting further declines if the $2.00 level isn't held. Another analyst, Peter Brandt, suggests a deeper drop to $1.07 due to a head-and-shoulders pattern. He argues that breaking the $3 resistance is essential for a rally.
Impact of External Factors on Crypto Market
The entire cryptocurrency market faces pressure following US President Donald Trump's announcement of 25% tariffs on foreign cars and Russian oil. This led to investor panic and a drop in the Crypto Fear & Greed Index to 34, near the 'extreme fear' zone. Goldman Sachs predicts inflation due to these tariffs, worsening investor sentiment. XRP’s Chaikin Money Flow (CMF) index turned negative since March 26, indicating large investors are selling their holdings.
Given the current market conditions and analyst forecasts, XRP's price may continue to decline unless key resistance levels are breached.
