Despite the weekly optimism, XRP has again dropped below USD 3, frustrating its community, because the token lag behind wider market trends. Currently, nearly USD 2.90 trades, which is a decrease of over 4% in the last 24 hours, with market capital around $ 173 billion.
Despite the historic American place for the premiere of ETF XRP and reinforced RIPPLE connections with the Spanish BBVA Bank, the token failed to keep the momentum up.
Analysts Now they argue that the ponderous XRP performance can no longer be blamed for the claim of the American Securities and Stock Exchange Commission (SEC), which has long been cited as a key obstacle for growth. After solving this case, the attention changed to deeper market dynamics.
Raising profits, liquidation and market moods
The debut of ETF XRP generated a record of $ 37 million in the amount of turnover per day, but also caused the classic answer “Sell messages”. Many institutional investors have left its position, causing a lot of sales pressure.
Adding to deterioration, XRP During the last day, traders stood in the amount of almost $ 79 million of liquidation, and long positions are the majority. This wave of forced sales reduced prices, undermining trust among retail investors.
Meanwhile, the wider cryptographic market lost 4% of the value, with billions cleared of the capitalization of Altcoin. Ethereum (ETH) and other main resources also recorded pointed declines, which additionally dragging XRP down.
XRP's price records vital losses on the daily chart. Source: XRPUSD on Tradingview
Can XRP avoid a more steep decline?
XRP is now fighting for support of nearly 2.80 USD, and traders warn that a lower break can reveal a token to the $ 2,50-2.60 zone. On the other hand, the bulls must regain the range of USD 3.10-3.20 to restore the shoot and revive the hopes for testing the highest level of USD 3.65.
The market moods remain mixed. Some commentators like an analyst BarricSuggest that XRP can continue to boost dramatically if it follows historical patterns, even indicating a possible price of USD 300 by 2026.
Others remain skeptical, indicating continuous sales of pressure and closer requirements for regulatory regulations for ETF Altcoin. For now, XRP owners are facing a key test: weapons of current levels or risk deeper losses as the sales of the Altcoin market accelerate.
CHATGPT cover image, XRPUSD map from TradingView
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