XRP's price might be at risk of a deeper decline due to macroeconomic factors and pressures on the crypto market.
Bitcoin's Ongoing Market Struggles
Bitcoin's instability continues to impact the entire crypto market. Recent attempts to hold key resistance levels have failed, with analysts predicting a potential drop to $80,000. This volatility in Bitcoin is creating uncertainty among traders and investors.
XRP Breaks Key Support Level
XRP recently broke a significant technical threshold, trading in the range of $2.12-$2.20. Analyst Randy warns if Bitcoin continues its downward trend, XRP might reach $1.60. However, at the time of writing, XRP showed a brief 3.14% increase to $2.28.
Market Uncertainty Factors
The market is also pressured by President Trump's comments on implementing 'reciprocal tariffs,' raising inflation concerns. Additional security fears arose from a major hack on the Bybit exchange, resulting in the theft of $1.4 billion worth of ETH.
With the market rife with uncertainty, many traders are seeking better entry points. Ripple's leadership remains optimistic about XRP's long-term role in international transactions.
