XRP, the cryptocurrency that is tied to Ripple Labs, is under attack as it has a potential decline in price for April.
After its multi-year high of $3.40 in January, XRP has dropped over 35% since then, currently trading at around $2.13. Analysts are pointing to more losses with some bearish technical patterns and weakening support from big holders.
XRP Price Chart, Source: TradingView
One of the strongest warning signs is a technical pattern forming on XRP’s price chart known as the “inverse cup and handle.” This pattern is renowned for predicting declines.
It looks like an inverted teacup, with a curved decline as the “cup” and a brief sideways movement as the “handle.” When the price breaks below the bottom of the handle, it typically leads to a more pronounced decline.
On the XRP chart, the “cup” top happened on March 19 and decreased gradually over the month. From that time on, it has trended horizontally in a band between $2.05 and $2.20 to form the “handle.” If it drops below there, the price will plunge toward approximately $1.58 — more than 25% off.
Another warning is from the VPVR indicator, which indicates trading volume at various price levels. It indicates that $2.10–$2.20 is solid support. But if XRP goes below this, there’s not much trading below, so the price may fall further.
Large XRP investors, or whales, have been unloading since late 2024 . Even as prices rose, they continued to sell, demonstrating that they didn’t have faith in the rally.. The selling has carried over into 2025, so large investors might not have a lot of faith in XRP currently.
On top of these investor and technical issues, general economic uncertainty is also coming into play. New tariffs ordered by U.S. President Donald Trump and a dovish response from the Federal Reserve have chilled overall market sentiment, which in turn can continue to bear down on XRP and other cryptocurrencies.
