The crypto market is once again caught in a wave of fear and uncertainty, and this time Ripple’s XRP finds itself in the eye of the storm. XRP has plunged 15% within the last 24 hours, falling as low as $1.80. As panic spreads, seasoned traders and retail investors alike are now questioning whether the digital asset could sink to $1 or even lower.
The collapse coincides with a broader market rout triggered by renewed geopolitical tensions. US President Donald Trump’s latest tariff escalation against China has sent tremors through global markets. Equities opened deep in the red across Asia on Monday, and digital assets quickly followed suit. According to The Bit Journal, the crypto market lost 9% of its total value in a matter of hours, reviving the ominous term “Black Monday” on Google Trends.
Leverage Liquidations Add Fuel to the Fire
According to analytics platform Coinglass, XRP saw over $40 million in leveraged positions liquidated in just one day. A staggering $36 million of these were long positions, meaning most traders were betting on a price increase. Their forced exits have only intensified the downward pressure.
The ripple effect doesn’t stop there. Open interest in XRP futures has dropped below $3 billion, and funding rates have turned negative — a classic sign that bearish sentiment is taking hold. If the liquidation cascade continues, XRP could face even steeper declines in the coming days.
Chart Patterns Turn Bearish, Technicals Signal Danger
From a technical perspective, XRP is flashing red across multiple indicators. The daily chart shows a clear break below the 200-day moving average, while the 50-day average is on the verge of crossing below the 150-day average — a bearish crossover commonly known as the “death cross.”
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The Relative Strength Index (RSI) has slipped to the 30 mark, indicating that the asset is now in oversold territory. While this might suggest a potential short-term bounce, the broader trend remains bearish. Long-term momentum has clearly shifted in favor of the bears.
Top Analyst Predicts $1 Floor for XRP
Veteran trader and chart analyst Peter Brandt has joined the growing list of voices warning of further downside for XRP. According to Brandt, losing the $1.80 support zone was a critical blow, and if sellers maintain control, the token could find itself testing the $1 mark soon.
Brandt’s analysis underscores the pivotal moment XRP investors are facing. If current support levels don’t hold, 2025 might mark a devastating chapter for Ripple holders. As traders brace for further volatility, The Bit Journal will continue to monitor the situation and provide timely updates.
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Sources & References
CoinDesk – Ripple (XRP) Faces Massive Liquidations Amid Market Selloff
The Block – XRP Open Interest Falls Below $3B After Sharp Price Decline
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