XRP Plunges to New Lows, Dragging Top Altcoins Into a Negative Slide
31.03.2025 09:05
XRP has dipped below the $2.1 level and is now trading at around $2.09, marking a significant drop of 4.5% in the last 24 hours and more than 14% over the past week. It is currently the worst-performing top 10 altcoin. Cardano (ADA) suffered a similar setback with a 4.4% decline, while Tron (TRX) remains in the red as the only other top 10 coin showing negative performance. Bitcoin (BTC), though affected by broader risk sentiment and hedging moves by options traders against a drop below $80,000, experienced a less severe correction compared to the altcoins. In addition, Shiba Inu (SHIB) has lost its breakout gains. The overall market sentiment is weighing on many altcoins amid falling retail interest and increasing concerns about global trade tensions. XRP’s breach of critical horizontal support has raised alarms about further corrections, while industry watchers are keeping a close eye on a possible ETF approval that could alter the longer-term outlook.
XRP is facing strong immediate bearish pressure as it broke critical support levels and is showing a steep weekly decline, compounded by diminishing retail interest. Technical breakdown and uncertainty over potential ETF approval weigh on its short-term outlook, while long-term recovery is uncertain without renewed investor confidence.
ADA is experiencing negative momentum similar to XRP, despite a slightly smaller drop. The broader sell-off among top altcoins, triggered by market caution, implies short-term price weakness. However, if market sentiment improves, ADA could see some stabilization over the longer term.
TRX remains in the red amidst the overall market correction affecting major altcoins. Its continued underperformance suggests that technical and sentiment pressures are forcing a prolonged short-term decline, although any broader market recovery could eventually offer some support.
BTC, while not hit as hard as altcoins, is under cautious pressure due to hedging activity by options traders. Its relatively modest drop indicates some resilience, but uncertainty in risk assets and global tensions could trigger minor short-term corrections. In the long term, institutional interest may help stabilize and potentially support gradual upward movement.
SHIB has lost its breakout gains, reflecting the overall market risk-off sentiment. This suggests immediate volatility with downward pressure in the short term, with its longer-term performance hinging on broader shifts in retail and speculative interest.
Sources
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