XRP's Wild Ride: From Highs to Lows, Can Bulls Reclaim the Market?

The crypto market's recent volatility has led to significant price fluctuations, with XRP being one of the most affected cryptocurrencies. In this article, we will analyze the current state of the XRP market and provide insights into its potential future trajectory.

XRP, the native cryptocurrency of the Ripple network, has experienced a tumultuous journey in recent months. After reaching an all-time high of around $3.12, the XRP price has since plummeted, losing over $10 billion in market capitalization and falling below $1.8. This decline has resulted in XRP losing its position as the third-largest cryptocurrency by market capitalization, with Tether reclaiming the spot.

The recent market corrections have led to significant long liquidations for XRP, with over $97 million in liquidations occurring in the past 24 hours. This figure is the highest among cryptocurrencies, following Ethereum and Bitcoin. The XRP price has also formed lows with both the USDT and BTC pairs, raising concerns about the next price rally.

Despite the recent decline, the XRP market has displayed some resilience, with the token climbing up by over 10% after a 25% pullback. This rebound has led some analysts to question whether the bearish dominance is waning and if the XRP price will rise to reclaim its lost levels above $3 or consolidate around $2.5 for some time.

The XRP price has broken the rising trend line that had been acting as strong support since the breakout in November 2024. This development has caused the supertrend to turn bearish for the first time since the breakout, suggesting a change in market dynamics. However, the token has held the 0.618 FIB level at $2.3 as interim support, indicating the possibility of a rebound to $2.8 as the crypto received significant support from bulls after hitting monthly lows.

While some indicators suggest a potential rebound for XRP, others hint at the possibility of continued bearish influence. The direct movement index (DMI) tracks the change in market trend and displays a large deviation of the +Di and -Di lines that were about to undergo a bullish crossover. Additionally, the average directional index (ADX) has triggered a bullish reversal, suggesting a rise in the strength of