The cryptocurrency market is facing a significant wave of volatility as Bitcoin ($BTC) recently touched a local low around $65,000. While the primary digital asset struggles to find its footing, attention has turned to $XRP, which has historically acted as a “lagger” in market cycles. Currently trading around $1.35, XRP is showing signs of exhaustion. Technical indicators and market sentiment suggest that the Ripple-backed token may be on the verge of a deeper retracement, with analysts eyeing a drop toward the $1.18 mark.
Will XRP Crash Further?
Short-term data confirms that XRP is losing its bullish momentum. After failing to sustain levels above $1.40, the asset is now following the broader market trend initiated by Bitcoin’s decline. If Bitcoin remains under pressure at the $65,000 support, XRP is highly likely to break its current local support of $1.35, potentially cascading toward its historical liquidity zones.
The “Lagger” Effect: Why XRP Coin Follows Bitcoin
In crypto trading, a lagger is an asset that reacts to market movements after the primary trendsetters (like $Bitcoin or $Ethereum) have already made their move.
XRP Coin Analysis: Breaking Down the Bearish Targets
The chart below highlights a clear bearish structure. XRP has been unable to form higher highs, and the current price action is hovering dangerously close to the lower boundary of its immediate support range.
The RSI (Relative Strength Index) on the daily timeframe is trending downward toward the oversold territory, but it has not reached the “bottom” yet. This suggests there is still room for the price to drop another 10-12% before a potential relief bounce occurs.
Why is XRP Price Down?
The recent Bitcoin dip to $65,000 was fueled by a combination of factors, including outflows from spot Bitcoin ETFs and a general “risk-off” sentiment in global equities. According to data from major authority sources like Bloomberg Crypto, institutional interest has cooled off as the market awaits clearer signals from the Federal Reserve regarding interest rates.
When Bitcoin experiences a 12-15% drawdown, altcoins typically suffer 1.5x to 2x the percentage loss. For XRP, this translates to the bearish targets mentioned above.
XRP Price Prediction: How Low will XRP Price Crash?
As the crypto market remains in a state of uncertainty, XRP holders should brace for further downside. The path of least resistance is currently down, especially if Bitcoin fails to reclaim the $68,000 level.
