Amid ongoing market uncertainty, XRP, the token of Ripple Labs, has experienced a price drop similar to major assets like Bitcoin and Ethereum.
Current XRP Situation Analysis
On March 20, 2025, following sudden market sentiment shifts, there was a notable decline in asset prices. During this period, XRP registered a 4% price drop, reaching a crucial level.
Technical Analysis and Potential Levels
According to technical analysis, XRP recently experienced a bullish breakout from a 'cup and handle' pattern and a descending triangle. However, the breakout area also aligns with the 200 Exponential Moving Average (EMA) on the four-hour timeframe. If the asset holds above the $2.38 level, it might ascend to $3.50. If it closes below $2.38, it could see a 13% drop to $2.05.
Traders’ Bets and Market Sentiment
XRP is trading near $2.42, showing a price decline over 4% in 24 hours. Trading volume decreased by 20% due to bear sentiments. Data from Coinglass reveals that intraday traders are largely betting on the downside, despite the bullish breakout.
Despite ongoing market decline, XRP shows controlled behavior. The asset might ascend if key levels are successfully maintained.
