XRP News Today: XRP Falls 10.20% to $3.21 as Bitpanda Exec Sees Path to 2018 High

XRP, the cryptocurrency associated with Ripple, has experienced a 10.20% decline over the past 24 hours, trading at $3.21 at the time of publication [1]. Despite the sharp drop, Bitpanda deputy CEO Lukas Enzersdorfer-Konrad has stated that XRP remains on a trajectory to potentially surpass its 2018 all-time high of $3.84, provided broader market conditions remain favorable [1]. Enzersdorfer-Konrad emphasized that while short-term price volatility is inherent in fast-moving markets, sustained capital rotation from Bitcoin into altcoins could drive further gains for XRP [1].

The recent price action follows XRP hitting a year-to-date high of $3.66 in late June [1]. However, the asset has yet to retest its 2018 peak. Enzersdorfer-Konrad noted that XRP’s performance is closely tied to the overall altcoin market, with its price likely to reflect broader sentiment shifts. He highlighted the CoinMarketCap Altcoin Season Index as a key indicator, which transitioned from “Bitcoin Season” to “Altcoin Season” in early July [1]. This shift coincided with a 5.41% decline in Bitcoin’s dominance over the past 30 days, signaling increased inflows into alternative cryptocurrencies [1].

Technical indicators suggest XRP may stabilize in the near term. The asset is currently trading above its 50-day exponential moving average, a level often used by traders to gauge momentum [1]. Meanwhile, its relative strength index (RSI) has settled in neutral territory near 50, indicating neither overbought nor oversold conditions [1]. Enzersdorfer-Konrad added that XRP’s sensitivity to regulatory narratives and altcoin market sentiment will remain critical in determining its trajectory [1].

While the Bitpanda executive did not provide specific price targets, crypto analyst Dom has speculated that XRP could rise to $7 to $10, contingent on broader market movements [1]. This forecast, however, is not tied to any immediate catalysts such as regulatory updates or technological advancements [1]. Analysts have also noted that the recent correction lacks a clear trigger, reinforcing the view that the drop is part of a normal consolidation phase rather than a fundamental bearish shift [1].

Market participants are closely monitoring whether momentum broadens across altcoins or remains concentrated. Enzersdorfer-Konrad stressed that sustained bullish momentum will depend on liquidity strength and continued institutional confidence in the sector [1]. On-chain metrics, including exchange wallet inflows and hash rate activity, will likely serve as key signals for a potential reversal [1].

The latest developments underscore the cyclical nature of cryptocurrency markets, where sharp corrections often precede extended bullish phases. For XRP, the current scenario aligns with historical patterns observed in other major cryptocurrencies, where short-term volatility is followed by renewed buying interest once key support levels hold [1]. While the path to new all-time highs remains uncertain, the Bitpanda executive’s analysis reflects a balanced approach, acknowledging both the risks and opportunities in a rapidly evolving market [1].

Sources:

[1] [XRP Price Decline Reversal: New All-Time Highs Possible - Bitpanda]

https://cointelegraph.com/news/xrp-price-decline-reversal-new-all-time-highs-possible-bitpanda

[2] [XRP Tanks 10% but ATH Comeback in Play]

https://mx.advfn.com/bolsa-de-valores/COIN/BTCUSD/crypto-news/96487050/xrp-tanks-10-but-ath-comeback-is-still-in-play-b

[3] [XRP News: ATH Comeback Potential]

https://www.fxempire.com/crypto/ripple/news