As the general crypto markets fell into 50 shades of red this Friday, all major-cap crypto currencies saw noticeable downswings. While Ethereum (ETH) got hit the hardest with a steep decline to retest the $1,800 price range and claim new yearly lows, Ripple (XRP) followed Bitcoin’s (BTC) path to register a softer 5% deficit in 24 hours.
XRP Price In Super Tight Spot Technically
As previously reported, Ripple’s (XRP) price is currently range-bound, establishing a dangerous Head ‘n’ Shoulders pattern on the one-day charts. Matter of fact, the veteran crypto trader Peter Brandt predicted the popular cross-border altcoin’s dip all the way to $1.07, basing on the bearish Head ‘n’ Shoulders formation.
On a brighter note, the bearish stance for Ripple’s (XRP) price would still be denied, but for that the altcoin is ought to break through $3. However, clearing this price range won’t be a cake walk for XRP, even knowing that the 6-year long Ripple vs. the SEC case turned out in the token issuer’s favor.
Sponsored
As today’s crypto market slump has sent ripples through XRP’s market value, it bears the question if the altcoin can bounce off from the major support area at $1.90. This key support served as consolidation floor twice in 30 days already, on February 28 and March 11, 2025.
Trading at almost $2.21 as per latest TradingView price data, the third largest non-stablecoin asset Ripple (XRP) would need to regain mid-January price levels, when XRP was trading just 4 cents below its all-time high of $3.40 hit over 7 years ago.
Right now, based on the Stochastic Momentum Index (SMI) dropping to the quarterly lows of between -75 and -78, short-sellers, or crypto bears, are majorly shifting the markets. This momentum depicting tool flipped upside down since March 25, 2025, when XRP price unsuccessfully retested $2.50, according to CoinGecko.
On The Flipside
- The short-term destiny of Ripple’s native crypto market sentiment massively depends on the outcome of XRP ETF applications.
- With 11 XRP exchange-traded fund submissions, market participants believe there’s an 87% chance of XRP ETF launch this year.
Why This Matters
XRP Ledger flourished in adoption cases, especially in cross-border payments. The recent positive legal headwinds added another layer of optimism for believers in XRP’s technology.
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