XRP Drops 0.65% to $2.45 Amid Bearish Sentiment

XRP, the cryptocurrency, has experienced a slight decline, currently trading at $2.45, marking a 0.65% decrease over the past 24 hours. This pullback follows a recent peak at $2.466 on March 25, 2025. The market capitalization stands at $142.868 billion, with a circulating supply of approximately 58.15 billion and a total supply of 99.988 billion. Despite the recent drop, XRP continues to attract significant trader attention, indicating potential for growth if demand intensifies. The fully diluted market cap of XRP is $245.658 billion, highlighting its substantial market presence.

Analyst Vlad on coinmarketcap suggests that a possible breakout above $2.45 is supported by an inverted head and shoulders pattern. This pattern targets market prices of $2.60 or $3.00. The current market sentiment is bullish, with 72.28% long positions and a 60.98% increase in trading volume. If the price can break above $2.50, it could trigger a significant rally and attract more trader interest.

CasiTraders on X recently noted that XRP is forming a tight consolidation on the 4H chart after reaching a high of $3.40. Fibonacci time analysis and technical analysis indicate that the time frames of Time Zone 2 align with the .618 extension, which occurs around March 30th from the $2.70-$3.80 target zone. Key dates in the next month include April 8 for a potential $3.80 high and April 25 at the macro W3 top. June 20th is Time Zone 5, likely representing the overall high for Wave 5. The technicals suggest that an explosive breakout is likely as XRP approaches the apex of its consolidation.

The Relative Strength Index (RSI) is at 52.61, indicating neutral territory and potential movement in either direction. The Moving Average Convergence Divergence (MACD) is bearish with a negative histogram value of -0.0240, suggesting fading momentum. Traders may look for the MACD to crossover the signal line on the upside for a bullish reversal. The decline in volume on the CoinMarketCap chart suggests that buyer interest may be slowly falling, which, if it continues, could accelerate the downtrend if selling picks up.

Since November 2024, short liquidations have increased when the price takes off, especially in December 2024 and early March 2025. This indicates that bearish traders are being squeezed out. Long liquidations have also increased since late February 2025, corresponding closely with the price decline to the $2.45 area. This pressure on the bulls has contributed to the observed consolidation. If long liquidations continue from the earlier run-up, XRP may experience further price declines, particularly in the main support area around $2.42.

XRP’s pullback to $2.45 reflects a bearish sentiment, primarily influenced by long liquidations and the development of a bearish MACD. The historical neutral RSI and support levels are encouraging. If selling continues, XRP may test $2.42, while breaking $2.46 may initiate a rally towards $2.50. It is crucial to monitor the volume for confirmation of any potential movements.