XRP Tanks 12%—Here’s Why the ’Banker’s Crypto’ Is Bleeding Today
Another red day for Ripple’s darling token as XRP gets hammered by a perfect storm of regulatory deja vu and whale-sized sell-offs. Traders are hitting the exits—but is this a panic dump or a buying opportunity?
SEC déjà vu strikes again
Whispers of another SEC lawsuit—despite Ripple’s partial 2023 victory—sent shockwaves through the market. Never underestimate regulators’ ability to refry old beans when crypto starts gaining traction.
Whales dump $120M in 3 hours
Blockchain sleuths spotted four massive XRP transfers to exchanges right before the price drop. Because nothing says ’confidence’ like billionaires playing hot potato with your bags.
Bitcoin’s crash drags everything down
When BTC sneezes, altcoins get pneumonia. Today’s 7% Bitcoin dip became XRP’s 12% bloodbath—because in crypto, ’diversification’ just means different colored sinking ships.
XRP now trades 89% below its 2018 ATH. But hey—at least the ’banker’s crypto’ is finally living up to its name by delivering traditional finance returns.
The XRP price today is down, potentially influenced by the ongoing complications in the Ripple vs SEC settlement. Meanwhile, analysts expect the downturn to be caused by Bitcoin approaching the crucial $105,000 level, which may pose risks to the broader crypto market if it faces heavy rejection or sudden volatility.
How Is XRP Doing Today?
At press time, XRP is changing hands at $2.42, with a 3.50% daily loss, and a market capitalization of $142.04 billion. Short-term traders seem to have ceased the buying opportunity, as the 24-hour trading volume is up by 19.52%, sitting at $5.75 billion.
As visible on the daily chart, XRP is moving within a rising channel pattern, suggesting a mid-term bullish outlook. However, a minor pullback from the upper resistance line NEAR $2.60 has taken the price closer to the midline support zone around $2.42–$2.35.
Theis hovering around, just below the signal line of. While still in the neutral zone, the RSI shows signs of bearish divergence after peaking above 70 earlier this week, suggesting the potential for more downside unless bulls regain control.
Where Is XRP Heading Next?
A break below the $2.35 support could lead to a steeper correction toward the lower trendline near $2.20 or even $2.00. On the upside, a strong surge above $2.51 and ultimately $2.60 could reinstate bullish momentum, possibly aiming for $2.80.
Keen on long-term XRP price target? Read our ripple xrp price prediction 2025, 2026-2030!
FAQs
Is XRP still in a bullish trend?Yes, XRP is currently in a rising channel, which is typically a bullish pattern. However, near-term indicators show potential weakness.
What happens if the XRP price falls below $2.35?A break below $2.35 may trigger a decline toward $2.20 or the lower channel support around $2.00.
How much is 1 XRP right now?The price of 1 XRP at the time of press is at $2.42, with a change of -3.50% in the past 24 hours.
