$XRP

XRP Price Analysis – May 6, 2025

On Tuesday, May 6, 2025, XRP (Ripple) shows a slight decline in price, currently trading around $2.11, down 0.78% in the last 24 hours, with a market capitalization of approximately $123.7 billion (coinmarketcap.com).

Key Factors Behind the Decline:

1. Drop in XRP Ledger Activity:

Daily active addresses have fallen to around 30,000, indicating reduced transaction volume and liquidity—both of which negatively affect price momentum (tradingview.com).

2. Bearish Chart Pattern:

Technical analysis shows a descending triangle pattern forming on the daily chart. If support is broken, the price could drop as much as 45%, targeting $1.20 (cointelegraph.com).

3. Rising Sell Pressure and Volume Spikes:

XRP is facing increased selling pressure amid higher trading volumes, reflecting caution among market participants (bravenewcoin.com).

4. Macroeconomic Concerns:

Broader crypto markets, including XRP, are affected by recession warnings in the U.S., which have dampened investor risk appetite (coingape.com).

Outlook:

If the price continues to fall and breaks below the key $2.00 support level, XRP could slide to $1.74 or even $1.20. However, if it holds above this support, a rebound toward $2.18 and $2.27 is possible, with a chance to target $3.00 if a clear bullish breakout occurs (fxstreet.com).

Investor Tip:

Due to current volatility and sell pressure, investors are advised to closely monitor key support and resistance levels, follow technical indicators, and stay updated on market news before making trading decisions.