XRP News Today: XRP Drops 14% Amid U.S.-Iran Tensions, Analysts Eye $3.00 Bounce

XRP, a prominent cryptocurrency, recently experienced a significant price drop, falling to its $2.01 support zone. This decline coincided with the news of a U.S. airstrike on Iran, which triggered widespread panic among investors. Veteran analyst CasiTrades had predicted this drop, marking it as a perfectly planned event rather than a random occurrence. Following this decline, CasiTrades set a new milestone for XRP, aiming for a bounce to $3.00.

After weeks of consolidation, XRP broke down and dropped to $1.93, precisely where CasiTrades had identified the first major Fibonacci support level. This drop occurred as news of the U.S.-Iran conflict spread, causing market fear due to geopolitical risks. However, XRP's bounce from this key level has given traders hope for a potential pivot. The chart from CasiTrades clearly shows this bounce, with the price jumping back up after hitting the green support zone.

Adding to the optimism, XRP's momentum indicators show a potential bullish divergence forming on both the 15-minute and 1-hour Relative Strength Index (RSI). This suggests that buyers are stepping in as selling pressure cools off. Although the bounce has not yet been confirmed, the 1-hour trendline is beginning to slope upward, indicating a possible change in momentum.

The market is currently at a critical stage. While the bounce from $2.01 shows strength, analysts remain cautious. If XRP can hold above $2.01 and climb steadily, the next significant resistance level to break is near $3.00. This would signal a real trend reversal and potentially a new rally. However, CasiTrades warns that it is too early to celebrate, as there is still no confirmation of a bigger trend change on the 4-hour or daily charts. If the bounce does not hold, XRP could slip to the next supports at $1.90 or even $1.55.

The XRP price has been under pressure, with a 1.26% loss recorded in the past week. Technical indicators, such as the RSI breakdown, suggest an imminent move. The RSI breakdown indicates that the price may continue to decline unless there is a significant reversal in market sentiment. The analyst's prediction of a $3 target is based on the assumption that XRP will regain its bullish momentum, which has been lacking in recent weeks.

The decline in XRP's price is not the only concern for investors. Network engagement on the XRP Ledger has also been on the decline. This decline in network activity suggests a lack of retail investor interest in the XRP ecosystem, which could hinder its ability to reach the $3 price target. The broader market correction, coupled with geopolitical tensions, has also contributed to the decline in XRP's price. The U.S.-Iran tensions have escalated, leading to a 14% slide in XRP's price over the past month. The analyst's prediction of a $3 target is based on the assumption that these geopolitical tensions will subside, allowing XRP to regain its bullish momentum.

Despite the bearish sentiment, some analysts remain optimistic about XRP's future. According to an alternative theory presented by market expert MoonLambo, the previous highs in network activity seen in Q4 2024 and January coincided with a period of widespread market greed following the US general elections. The analyst claims that the decline in network activity is normal and overemphasized by other analysts. MoonLambo's theory suggests that XRP's price could still reach the $3 target, despite the current bearish sentiment.

The analyst's prediction of a $3 target for XRP is based on several factors, including technical indicators, network activity, and broader market trends. While the current market sentiment is bearish, the analyst remains optimistic about XRP's future. The prediction of a $3 target is based on the assumption that XRP will regain its bullish momentum, which has been lacking in recent weeks. The analyst's forecast suggests that the next target for XRP is $3, indicating a potential recovery from its recent slump.