TL;DR
- Ripple’s native token faces a considerable risk of another sizeable double-digit price decline if it doesn’t reclaim a certain level soon.
- The warning comes amid a market-wide correction that has not spared XRP.
XRP stood tall at around $3.15 yesterday as the market was trading sideways. However, as the landscape changed earlier this morning, perhaps due to the latest Trump comments in regards to the war between Ukraine and Russia, Ripple’s token joined the rest of the market in a painful move south.
In a matter of just a few hours, the asset dropped to an 11-day low of its own at $2.97 (on Bitstamp). Thus, it briefly slipped below the coveted $3.00 support level but has returned to just over it as of press time.
According to Ali Martinez, a popular crypto analyst with over 150,000 followers on X, XRP has now moved further away from a critical resistance level. He believes $3.30 is pivotal in determining the asset’s future price behavior, and failure to reclaim it could result in a price drop to $2.6 or even $2.
Previously, Martinez also outlined $2.81 as a key support level for XRP and stated that it needs to remain above this level to maintain its bull market structure.
For now, Ripple’s token remains essentially in the middle between these two targets, but more volatility is expected today as the political leaders of several European nations, including Ukraine, will meet with Trump to discuss the potential end to the war against Russia.
