XRP has ended the month on a rough note, suffering a 15% decline in price over the past week. The cryptocurrency, which peaked at $2.40 earlier in the week, has now dropped to $2.09. CoinMarketCap reports a 3% loss in the last 24 hours, signaling continued bearish momentum as the month wraps up. Despite some minor recoveries, the overall market trend remains negative as buyers have failed to provide enough support to push the price upward.
XRP’s price met strong resistance near the $2.17-$2.18 range, where sellers took control and pushed the price down. A similar rejection occurred around $2.12-$2.13, indicating that buyers are struggling to overcome these resistance levels. If the price fails to break past these points, it could continue its downward trajectory into early April.
Crypto analyst Livercoin expressed caution, stating, “It’s not looking good brev,” and warned that if XRP cannot maintain the $2.00 level, the price could dip further.
Some analysts are even predicting a more significant drop. Peter Brandt pointed to a bearish head-and-shoulders pattern forming on the monthly time frame, which he believes could send XRP as low as $1.07. This pattern began taking shape earlier this year when XRP reached its all-time high of $3.40, but the market has been in a downtrend since then. Brandt noted that for any potential rally, XRP would need to break the $3 resistance level; otherwise, the price may continue to slide toward $1.07 or lower.
The broader crypto market has also been under pressure due to macroeconomic factors, including U.S. President Donald Trump’s announcement of a 25% tariff on foreign cars and Russian oil. This move has triggered investor panic, and the Crypto Fear & Greed Index has dropped to 34, nearing the “extreme fear” zone.
Goldman Sachs warned that the tariffs could contribute to inflation, further dampening investor sentiment. While Bitcoin remains above $81,000, altcoins like XRP are feeling the weight of these broader market concerns. Additionally, XRP’s Chaikin Money Flow (CMF) index has been negative since March 26, indicating that large investors (whales) have been selling their holdings, contributing to the downward price movement.
As April approaches, the outlook for XRP remains uncertain, with the cryptocurrency facing both technical resistance and broader market challenges.
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