XRP has faced a turbulent week, struggling to maintain its early momentum. After showing signs of recovery on Monday, the cryptocurrency lost strength, leading to a continued downturn. Market analysts attribute the decline to weak technical indicators, declining trading volume, and large spot sell-offs.
With short-term sentiment leaning bearish, traders are closely monitoring support levels to gauge potential movements. However, long-term optimism remains intact, supported by key catalysts like the anticipated XRP ETF and the ongoing Ripple-SEC case.
Cilinix Crypto’s latest analysis highlights XRP’s struggles despite an initial rebound earlier in the week. The price managed to reclaim levels of $2.5 and $2.7 on the 4-hour chart but failed to sustain its upward movement. Currently, XRP is trading between $2.5 and $2.0, indicating market weakness.
The analyst noted that leverage in the market is gradually being removed, further contributing to downward pressure.
Additionally, trading volume has declined while selling activity continues, pointing to large spot positions being liquidated rather than just leveraged trades. The lack of bullish momentum suggests XRP may face further declines before finding stable ground.
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XRP ETF Prospects and Ripple-SEC Case as Potential Catalysts
Long-term prospects for XRP depend on key events, namely the highly anticipated ETF launch and Ripple’s legal spat with the SEC. Cilinix Crypto emphasized that these factors could be pivotal in driving renewed bullish sentiment.
The analyst recalled July 13, when a surge in positive news caused XRP to double in price within hours. While no immediate bullish triggers are visible, market watchers remain hopeful that regulatory clarity and institutional adoption via an ETF could fuel a strong recovery in 2025. For now, traders are bracing for further downside before a potential breakout.
XRP’s technical indicators suggest a bearish short-term trajectory. The price is expected to drop further, potentially testing the $2.0–$2.15 support range. The analyst believes this level is critical, as it could provide a strong base for a future rebound.
Despite the near-term struggles, the long-term sentiment remains positive. Cilinix Crypto stated that once fundamental uncertainties clear up, XRP could see a significant breakout. However, traders remain cautious, closely watching for signs of stability before making bullish commitments.
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Macroeconomic Influence and Bitcoin’s Impact
Broader market conditions will influence XRP’s performance as well. Forthcoming economic data reports, such as the U.S. unemployment rate and non-farm payroll figures, may create swings in the crypto market impacting XRP.
Bitcoin’s price action remains a key influence on XRP. According to the analyst, Bitcoin needs to hold the $91,000–$93,000 range for XRP to maintain stability at the $2.0–$2.2 level. If Bitcoin falters, XRP could see deeper declines. The speaker mentioned considering a buy order of around $2.0 but slightly above to avoid front-running risks.
XRP Price Update
According to CoinGecko at the time of writing, XRP trades at about $2.41. This indicates a 1.17% decrease in the last day and a 21.61% reduction over the past week. This drop strengthens the analyst’s pessimistic view soon.
XRP’s near future is unclear, as technical signals suggest additional declines. Although there is sustained long-term optimism, traders remain wary of short-term risks.
The ETF announcement and the Ripple-SEC case may act as significant drivers for upcoming profits, yet currently, XRP is in a vulnerable position. Market participants will continue monitoring support levels and Bitcoin’s performance to gauge the next potential moves.
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