XRP News Today: Ripple’s XRP Faces 20% Decline as LA Surges 300%

In the past 24 hours, the cryptocurrency market displayed mixed performances, with Bitcoin remaining below the $105,000 mark. Among the altcoins, Ripple’s XRP and Lagrange (LA) exhibited contrasting trends, with XRP facing potential declines and LA surging over 300%.

XRP, the native token of Ripple, has formed an inverted cup and handle pattern on its daily chart, a classic bearish indicator that often precedes sharp price dips. This pattern suggests a loss of buyer momentum, leaving XRP vulnerable to substantial declines. The token's price has dropped from its peak of $2.658 last month to $2.18, representing a 20% decrease. The trading volume for XRP also plummeted by 15% in the past day, further indicating market weakness. Bears are targeting the crucial support level at $2, below which XRP could experience significant slumps or prolonged consolidations. If XRP fails to hold above $2, it risks dipping to the multi-month foothold at $1.71, resulting in a 22% decline from its current value. However, positive regulatory developments, such as the approval of an XRP spot ETF, could potentially stabilize and even drive an uptrend in the coming months. According to the analyst's forecast, Polymarket shows a 93% chance of the SEC authorizing XRP exchange-traded funds in 2025, a significant increase from 68% in April.

In contrast, Lagrange (LA) experienced a remarkable surge, gaining over 300% in the past day. LA’s price skyrocketed from $0.409 to an intraday high of $1.7803, driven by its recent listings on top-tier exchanges. These listings significantly increased LA’s visibility and liquidity, leading to a surge in daily trading volume. The heightened interest from traders and investors propelled LA’s price, making it a standout performer in the altcoin market. Lagrange’s ecosystem, which focuses on modular blockchain infrastructure, enables developers to create secure and scalable decentralized applications (dApps). However, despite its impressive gains, LA’s significant volatility calls for a cautious approach. Potential profit-taking could lead to a sharp decline in the upcoming hours, as the market adjusts to the recent surge.