After breaking out to a 7-year high, XRP turned back down as negative sentiment spread across the crypto market. The weakening of Bitcoin further increases pressure on altcoins, putting XRP's upward momentum at risk of being eroded without new capital inflow to support it.
According to analysis from Thecafetrader, the recent surge of XRP primarily stems from strong buying pressure, pushing the price above the peak of 2024. However, the trading volume could not maintain its upward momentum — from over 78 billion USD down to only 41 billion USD despite the price reaching 3.6 USD — indicating that market demand is weakening.
Notably, the market currently does not record strong selling pressure, meaning the potential for recovery still exists if buyers return. However, without decisive participation from investors, the price of XRP may continue to adjust, with important support levels at 3.13 USD, 2.95 USD, and the range of 2.15–2.30 USD, which is considered a potential entry point. In a worse scenario, the price could retreat to the 'bargain' range around 1.60–1.93 USD.