The recent selloff in the cryptocurrency market has raised concerns among participants, with Bitcoin and top altcoins facing the largest declines. XRP has also been adversely affected.
How’s XRP Price Moving As Crypto Market Follows Downturn
The XRP price fell more than 3%, resting at $2.24. The price recorded a 24-hour high of $2.33 and a low of $2.22, while trading volume decreased by 8% to $2.63 billion. This drop coincided with a broader selloff in the crypto market, which saw a decline of over 2.3% in global market capitalization, occurring alongside decreases in Wall Street indices amid rising macroeconomic concerns.
Can the Ripple Price Slip to $1.5?
Analyst CasiTrades has predicted a potential crash for XRP. She stated, "We’re just days away from the apex of #XRP’s macro consolidation and price is hovering above support." The $2.25 level has been identified as a critical support, and should XRP fail to hold this, it might drop to $2.01 or even $1.90 if bearish momentum continues.
Future of XRP According to Experts
Despite the bearish outlooks, some analysts remain bullish. CasiTrades also predicted that XRP might reach $8 by the end of July, provided it does not hit a new low. Analyst EGRAG CRYPTO expressed a belief that the Ripple price may hit $7.5 soon based on historical trends. Overall, although the market faces short-term uncertainties, XRP appears poised for potential recovery.
The cryptocurrency market remains volatile, and predictions for XRP are divided between bearish and bullish sentiments. Monitoring key support levels will be critical in understanding future market movements.
