Ripple price analysis: XRP/USD down 2% amid declining trading volumes

Ripple breaks below upside trend line.
Focus will shift to $0.6400 if the coin fails to regain ground.

Tanya Abrosimova Independent Analyst

Ripple, the third largest coin by market value, is changing hands at $0.6655 after an unsuccessful attempt to clear $0.6800 handle. XRP/USD broke below short-term upside trend line and below 200-SMA (30-min chart), which gives the intraday a distinct bearish touch. The digital currency is down 2.3%% on daily basis with market capitalization registered at $25B. Subdued volatility and fairly low trading volumes keep the lid on XRP recovery attempts.

The recent class-action lawsuit also plays against XRP. While Ripple's CEO Brad Garlinghouse is sure that cryptocurrency is not a security, SEC and other US regulators have been expressing different opinions.

Ripple technical picture

Technically, XRP/USD needs to return to the area above the trend line (currently, at $0.6745) as soon as possible, otherwise, the selling pressure will increase, taking the coin towards $0.6470 (61.8% Fibo) and to psychological $0.6400. On the upside, a sustainable movement above $0.6800 is needed to bring $0.7000 back into focus.

XRP/USD, 30-min chart

Author

Tanya Abrosimova

Independent Analyst

Ripple risks deeper decline toward $1.00

XRP clings to short-term support at $1.10, but persistent selling pressure leaves it vulnerable to a further 10% drop toward $1.00. XRP remains largely defined by a bearish technical structure, with major moving averages and momentum indicators edging lower.

Crypto Today: Bitcoin, Ethereum, XRP slide as capital outflows persist

The cryptocurrency market is experiencing broad-based declines on Tuesday, as Bitcoin retests support at $62,000, Ethereum extends losses toward $1,600, and Ripple remains anchored near the key $1.10 demand zone.

Bitcoin struggles amid renewed US-Iran peace uncertainty

Bitcoin (BTC) trades below $63,000 at the time of writing on Tuesday as conflicting signals from the US and Iran regarding the progress of peace negotiations continue to fuel geopolitical uncertainty.

MiCA regulations could be the next bullish catalyst for crypto – Georg Harer, co-CEO at Bybit EU

The next bullish narrative for crypto could be MiCA regulations, which could drive liquidity from traditional markets, Bybit EU co-CEO Georg Harer says. Improved regulations could provide guardrails to avoid black swan events like Terra Luna and FTX, thereby limiting volatility.

Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin (BTC) is set to end the week in the red, trading near the 200-Week Simple Moving Average (SMA) at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds (ETFs) point to a sixth consecutive week of outflows.