Why Is Ripple (XRP) Sliding Today? Analysts Weigh In on the Future
XRP Dips Below $2.20 Amid Market-Wide Crypto Slump—Can It Rebound?
Ripple’s XRP is feeling the heat as it tumbles below $2.20, reflecting the broader downturn gripping the cryptocurrency market. While bearish signals dominate, some analysts remain bullish, predicting a potential surge to $5 or beyond—if key support holds.
XRP Takes a Hit Alongside the Crypto Market
After a strong rally that saw XRP climb past $3 on March 3, the token has since reversed course, sinking into the red. As of now, XRP trades around $2.18, according to CoinGecko data. The decline aligns with a broader crypto market dip, with total market capitalization slipping below $2.8 trillion. Bitcoin (BTC) briefly fell to $80,000, while major altcoins like Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) also suffered notable losses.
Adding to XRP’s woes, key on-chain metrics have turned bearish in the past 24 hours. The number of active accounts, executed transactions, and payments between accounts have all declined. A drop in these metrics typically signals weakening network activity and reduced adoption, suggesting that fewer users are engaging with the XRP ecosystem.
Can XRP Defy the Bears and Rally to $5?
Despite the current sell-off, some market analysts believe XRP could still have its moment in this cycle. Crypto trader Ali Martinez argues that if the token stays above a critical support level—just north of $2—it could invalidate the bearish head-and-shoulders pattern. In that case, a breakout toward $5 might be in the cards.
Other analysts, including Dark Defender and EGRAG CRYPTO, have also voiced optimism. Dark Defender pointed out that XRP broke through a multi-year resistance level in November 2024 and has since tested that level as support. “I’ve never seen XRP more bullish than this before,” they noted.
Meanwhile, EGRAG CRYPTO offered a far more ambitious projection, suggesting a potential price explosion between $27 and $222. However, such a meteoric rise would require XRP’s market cap to balloon to at least $1.5 trillion—an extremely unlikely scenario given its current valuation of under $130 billion.
The Road Ahead for XRP
For now, XRP remains in a vulnerable position, mirroring broader crypto market struggles. Whether it can shake off the bearish trend and climb toward $5—or beyond—will depend on its ability to hold key support levels and regain momentum. With crypto markets notoriously volatile, all eyes are on the next major price move.
