Market Crash intensifies. XRP at $1.2: how much lower?

The crash in the cryptocurrency markets has intensified, as XRP now falls to $1.2. CoinGecko’s XRP data shows Price of XRP dropped 14.3% from the prior month, and by 5.7% on daily charts. The last time XRP traded around this level was in February this year. Let’s talk about the high volatility and what is pulling down the market. Also, how low could XRP go?

Why is XRP falling in price and to what level could it fall?

XRP has been corrected again amid a general market decline. Bitcoin (BTC), which was trading at $65,000 earlier in the day, has now fallen to that price. BTC is leading the way for most other assets. It is the US-Iran war reescalating that caused this crash. The peace talks between Iran and the US failed to come to a successful conclusion. The military operation seems to be resuming. According to reports, Iran may have already fired missiles on US bases located in the Middle East. Investor sentiment has plummeted as a result of this development. The value of high-risk assets like XRP or other cryptocurrencies is particularly low.

The price drop of XRP also follows high inflation figures in May. After inflation numbers were higher than expected, the crypto market started its decline. High inflation figures have made it difficult to expect a rate cut. The possibility of higher interest rates could be a problem for XRP. US-Iran war could increase pressure on economy and drive inflation higher.

You may also like: US Senate adds Crypto Clarity Act to Legislative Calendar

The current XRP price is the lowest since November 20, 2024. XRP prices soared in 2024, after investors started to price in the SEC vs. Ripple settlement. If XRP drops below $1, the price could fall towards $0.50 as there does not seem to be any support. There’s a chance XRP can hold $1.2, and start a sideways move from there.