The cryptocurrency market is watching XRP rise above the $2 level, in a battle between positive and negative expectations. After declining from its recent highs, this digital asset is facing a critical test.
Cryptocurrency markets are experiencing a tug of war, as sentiment shifts rapidly, and critical price levels determine the next move. A price of $1.97 is a minimum for XRP. If this situation continues, bullish momentum may resume, but a collapse could reinforce negative expectations.
Gremlyn Mistry, a prominent cryptocurrency analyst, expects the price of XRP to drop to $1.96. In his article published on March 30, he pointed out that U.S. tariffs and Trump's policies are reducing liquidity in the cryptocurrency market, undermining the stability of XRP's price.
Gremlyn stated that restrictive trade policies and economic uncertainty have slowed the flow of money into riskier assets like cryptocurrencies. With low liquidity, pessimists may drive prices down due to the weak purchasing power of market participants. He warned that XRP may struggle to find support if current economic conditions persist, and that falling below $1.96 could lead to further declines.
Due to a lack of liquidity, sellers have pushed prices down. XRP's ability to maintain support at $1.96 is questionable, and until market conditions improve, a larger drop may occur.
Gremlyn Mistry added that a radical shift in Trump's rhetoric regarding tariffs is unexpected, making it difficult to assess its full impact on financial markets, including cryptocurrencies. Many expected Trump's stance to bolster the cryptocurrency market, but the reality is more complex.
If buyers maintain the price of $1.96, the price of Ripple may rise again. The rebound from this support area may reach $2.64, which is the next barrier. A breakthrough of this level could reach $2.92 or $3.4, indicating a positive return. The increase in trading volume and market condition points to this situation.
The loss of control by sellers and Ripple's failure to hold above $1.96 may exacerbate the decline. Watch for the key support levels at $1.70 and $1.34. Below these levels, the asset price may drop further to $0.93 or lower.
