A Dismal Drop for XRP
The crypto market is going through a tough phase, and XRP is the biggest victim among the top 10 cryptocurrencies. According to CoinGecko, XRP has plummeted by 4.5% over the last 24 hours, now trading at $2.09 after hitting a low of $2.08. This is the worst performance among the top 10, even worse than Cardano (ADA), which lost 4.4%.
Ripple (XRP) is approaching a significant support level at $2.00, a price it hasn’t broken since May 11. Over the past week, XRP has dropped by 14%, making it the best-performing crypto among the top 20. In comparison, Bitcoin (BTC) is down 5.5%, while both Ethereum (ETH) and Solana (SOL) have lost 11.6% and 9% respectively.
Ripple’s Victory over the SEC Has Made No Difference
On March 19, Ripple’s CEO, Brad Garlinghouse, announced that the legal dispute with the US Securities and Exchange Commission (SEC) was over. Initially, this drove XRP’s price up to $2.6, but the enthusiasm was short-lived. Since then, the price has dropped by approximately 20%, showing a “sell the news” behavior where traders sell after major events.
Even the final confirmation of the trial’s closure last week did not help XRP’s price recover.
A major reason for XRP’s price drop is the large number of tokens sold by whales (big investors). Reports show that the whales have sold 1.12 billion XRP, approximately $2.3 billion, in just two days. This massive sell-off, equivalent to about 2% of XRP’s total market value, has driven the price even lower.
Should You Sell Your XRP ?
Looking at the charts, XRP is struggling to recover. A bearish trend has formed, with resistance at $2.148. If XRP fails to surpass $2.15, it could continue to decline. The next key support levels are $2.08 and $2.05, with $2.00 being a critical level to watch.
Its 200-day moving average stands at $1.80. If it drops below this, it will enter a “bear market” phase, where sellers are likely to take control.
If XRP falls below $2.00, the next major support lies around $1.88. On the other hand, if it moves above $2.20, it could target $2.25 or $2.28.
The token is not the only asset facing challenges. Global financial markets are also under pressure due to rising trade tensions. Japan’s Nikkei index recently dropped by over 4%, and these economic concerns are also impacting cryptocurrency prices.
Another issue for Ripple is the decreasing online interest. Google Trends data reveals that the search interest for XRP has hit its lowest level of 2025, despite Ripple’s legal victory. This indicates waning enthusiasm around XRP.
In conclusion, XRP is at a critical point, and the coming days will determine whether it stays above $2.00 or continues to decline. A potential game-changer could be the approval of an Exchange-Traded Fund (ETF) on XRP later this year, which could spark renewed interest and demand.
