XRP’s price could be at risk of a deeper decline, according to crypto analyst Randy from Late Night Grind Crypto. He warns that if Bitcoin continues its downward trend, XRP could drop to $1.60.
The overall crypto market remains under pressure from macroeconomic factors and security concerns. Some investors expect a rebound, while others wait for lower price levels. Analysts believe Bitcoin must find support before altcoins like XRP can recover.
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Bitcoin’s Struggles Weigh on the Crypto Market
Bitcoin’s recent struggles at key resistance levels have traders on edge. After being firmly rejected at an important trendline, some analysts now see a potential drop to $80,000 before finding solid ground.
The effects of this rejection are being felt across the crypto market. Randy noted that XRP has already broken below a critical support level. Besides, the broader altcoin market appears vulnerable as bearish sentiment takes hold.
Adding to market jitters, President Trump’s comments about implementing “reciprocal tariffs” have stirred inflation concerns. Economic observers worry these potential trade measures could put additional pressure on the U.S. economy. This would further dampen investor appetite for risk assets.
Security concerns add to the uncertainty. A major hack on Bybit resulted in the loss of $1.4 billion worth of Ethereum. Attackers employed social engineering to coerce executives into authorizing fraudulent transactions rather of taking advantage of a technological weakness.
Even while Bybit is still financially stable, several traders have left the market as a result of the incident, which has damaged confidence in centralized exchanges.
XRP Breaks Key Support Level
XRP has been bouncing about $2.12-$2.20 before lately breaking below an important technical threshold. According to market observer Randy, XRP could tumble to $1.60 if Bitcoin continues its downward trend. At press time, XRP has bounced briefly by 3.14% to $2.28.
Market watchers believe Bitcoin must secure stronger support before any real recovery takes hold. A Bitcoin stabilization and rally could reignite momentum for XRP and the broader altcoin market.
Many traders are holding back, hunting for better entry points amid the uncertainty. The leadership team at Ripple continues to have an optimistic long-term perspective for XRP despite market worries.
According to Randy, David Schwartz and Brad Garlinghouse are still promoting their idea of XRP enabling quick, cross-border transactions and a seamless global financial network.
Randy advises investors to consider whether this dip represents a technical correction or stems from external pressures. He stresses that XRP and other altcoins will probably be influenced by what Bitcoin does next.
Many market players are currently taking a cautious approach, waiting for more precise signals before reentering the market.
Read also: Can XDC Network Price Still Reach $3 in 2025?
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