š¤ Hereās Why $XRP Price is Down 2% Today
The XRP price is currently facing a bearish trajectory despite its bullish fundamentals. As the Ripple coin experiences a daily decline of about 2% and a yearly plummet of about 30%, the community fears a continued downtrend.
However, market expert Brett believes that the current correction might be a deliberate ploy to frighten off retail investors, paving the way for a future price surge. Letās unveil what the current XRP trend suggests and analyze the potential factors driving this trend.
šø XRP Price Falls By 2%: What Does It Mean?
Significantly, the year kicked off with a promising start for XRP. At the onset of 2025, the XRP price had hit levels last seen seven years ago. Despite this initial progress, Rippleās token struggled to maintain momentum and slipped below $2.
While the XRP price fell by nearly 2% today, analysts like Brett see this as a tactical move. He believes that the price action doesnāt reflect the underlying developments. Instead, it is designed to test investorsā patience and weed out early supporters, stated Brett. His tweet read, āPrice isnāt the truth. Price is just the distraction.ā
As of press time, XRP is valued at $2.20, down 2%. However, the token has seen increases of 1.29% and 4.5% in broader timeframes, respectively.
Besides, the current waning price action also falls in line with declining futures OI. CoinGlass data indicated that the cryptoās open interest fell over 4% to $3.81 billion today, underlining the price fall.
šø Ripple Price on the Cusp: Key Developments to Watch
Despite the prevailing negative market trends, represented by āred candlesā in the price chart, Rippe and XRP are making significant progress behind the scenes. Citing Rippleās potential developments, Brett posited that the XRP price is poised for a major uptrend. To be specific, Ripple is making strides with banking partnerships, regulatory advancements, and cross-border payment expansion, sparking optimism.