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XRP Tests Critical Support Level Amid Broader Crypto Market Sell-Off

XRP Tests Critical Support Level Amid Broader Crypto Market Sell-Off

Author:
XRP News
Published:
2025-04-09 13:09:48
19
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[TRADE_PLUGIN]XRPUSDT,XRPUSDT[/TRADE_PLUGIN]

As the cryptocurrency market faces renewed volatility, XRP is testing a key technical support level that could dictate its near-term trajectory. Here’s what investors need to know.

XRP Testing Key Support Amid Market Decline

The cryptocurrency market has seen another sharp fall due to renewed tariff tensions triggered by former President Donald Trump. Bitcoin (BTC) and Ethereum (ETH) are down by 3% and 8%, respectively. Among the altcoins, XRP has declined by over 4% in the last day, extending its weekly drop to around 14%. This decline has brought XRP to a critical technical point, where it is now testing a key support level that may determine its short-term future. On the daily chart, XRP appears to be forming a symmetrical expanding triangle pattern, which can lead to either a breakout or breakdown depending on price action.

XRP’s Bullish Cross Reignites Hopes for $25+ Target

XRP recently dipped below a critical support level, falling to a local low of $1.64 before slightly rebounding amidst overall market turbulence. A rare bullish cross formed on the XRP/BTC chart, last seen before the 2017 surge, reigniting hopes for a potential climb toward $16.5 to $29 depending on Bitcoin’s future price. The 55 EMA has emerged as a key support level, potentially acting as a launchpad for the next rally.

Ripple Acquisition of Hidden Road Fails to Boost XRP; Price Drops 3%

Ripple’s major acquisition of prime brokerage service company Hidden Road for $1.25 billion did not help boost the price of XRP. Despite the deal, which positions Ripple as the first crypto company to run a global, multi-asset prime broker, XRP fell over 2% and declined by 3% to $1.83 on April 9, 2025. The move was part of Ripple’s plan to bring XRP Ledger and RLUSD into global brokerage services. However, XRP’s price was also affected by a broader crypto sell-off due to economic tensions and new U.S. tariffs. Hidden Road’s platform comprises more than $3 trillion in trades annually and over 300 institutional clients.

Ripple’s Legal Battle Ends – Could XRP Skyrocket in 2025?

Ripple has been locked in a legal battle with regulators since 2020. But now, XRP holders have a reason to celebrate as Ripple CEO Brad Garlinghouse announced the regulator is set to drop its appeal, calling it a “resounding victory for Ripple and the entire crypto space.” This news has sparked discussions about XRP’s future and its potential impact on the broader crypto market. With regulatory uncertainty clearing up, some analysts believe XRP could enter a new phase of adoption.

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