XRP price was down about 12% today, wiping off the recent gains it had after Donald Trump’s US Crypto Reserve announcement. Notably, Trump’s close tie with the Ripple officials and his recent plan to include US-issued assets like XRP, SOL, and ADA, in the Strategic Reserve assets has fueled optimism. However, it appears that the momentum was short-lived, as evidenced by the recent crypto market crash.
Despite that, market experts remained optimistic about the long-term trajectory of the coin. In a recent analysis, an analyst predicted Ripple’s coin rally to $30 by May 2025, citing technical indicators.
XRP Price Slips Today: Here’s Why
XRP price lost 12% during writing and exchanged hands at $2.35, while its trading volume fell 42% to $12.6 billion. Notably, the crypto has recently neared the $3 mark but fell to $2.23 in the last 24 hours. This recent decline comes amid a broader crypto market selloff due to the Trump tariff going into effect.
The macroeconomic concerns have weighed on the investors’ sentiment, triggering massive selling pressure in the financial market. The global crypto market cap declined by around 8% with most of the top cryptocurrencies witnessing massive losses.
Will XRP Price Recover?
Despite the gloomy momentum, experts remained optimistic on the long-term trajectory of the coin. A recent analysis by renowned market analyst EGRAG CRYPTO predicts a significant rally in XRP’s price to $30 by May 2025.
According to EGRAG CRYPTO on X, the prediction is based on a potential weekly channel formation, similar to the one seen in 2017. During that cycle, XRP’s price surged 2,500% from the low end of the channel to the blow-off top. The analyst believes that history may repeat itself, with XRP’s price targeting the Fib 1.618 level, between $27-$33.
Meanwhile, the prediction is further bolstered by Donald Trump’s recent announcement to include US-issued assets like XRP in the Strategic Reserve assets. Trump’s close ties with Ripple officials have fueled optimism among investors. It is also evident by the recent buying trend of the Ripple whales.
While the recent crypto market crash may have dampened short-term sentiment, EGRAG CRYPTO’s analysis suggests that XRP price could surge within the next 28 days, potentially reaching $30 by May 12, 2025.
What If The Bears Dominate?
Although the market experts remained optimistic, the recent price action has weighed on the market sentiment. Amid this, another renowned market analyst Ali Martinez has warned over a potential correction to $1 for the crypto.
In a recent X post, Martinez said that XRP price action is forming a positive pattern, which might help in a solid recovery for the crypto. However, he noted that if Ripple’s coin falls below the crucial support of $2, it could witness a 40% retreat to $1.
Considering that, the traders should exercise due diligence while putting their bets. While a $30 rally for XRP seems feasible, as per EGRAG CRYPTO, a slip below the $2 mark could fade its robust rally noted since November 2024.
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