XRP has had a wild ride in the last 24 hours. The price tanked over 25%, falling to $1.60, before bouncing back up to $1.70, gaining around 13% in just five hours. But even with that recovery, the token is struggling to stay below the $1.80 mark, and the big question now is whether it can climb back to $2 or if it’s heading for a deeper drop below $1.50.
The broader crypto market isn’t helping either, it’s down by around 10%, now valued at $2.4 trillion. XRP’s weekly losses stand at 14%, and over the past month, it’s lost 25%. This comes after its January high of $3.40 — meaning XRP is down more than 35% since then.
Analysts are getting cautious as a bearish pattern called the “inverse cup and handle” is forming on XRP’s chart, which is a classic signal of a potential decline. At the same time, support from large holders seems to be weakening, which doesn’t inspire much confidence.
XRP is one of the biggest losers in today’s market drop. In the past 24 hours, nearly $70 million in XRP positions were liquidated — with over $58 million in longs wiped out and about $11.4 million in shorts also taken out.
Right now, the market’s in a shaky spot, and XRP’s next move could go either way. The eyes are on that $2 level, but with the pressure mounting, a deeper pullback can’t be ruled out.
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