According to CoinGecko’s XRP dataRipple XRP’s daily chart has seen a fall of 0.5% and the weekly chart, a fall of 10.6%. Recently, the popular cryptocurrency reached a record high of $3.65. Since the peak of XRP, its price has dropped by 156%. The asset has maintained substantial gains in other timeframes despite the sharp correction. XRP has gained 19.2% on the charts for the next 14 days, 41.4% on the charts for the month, and 4082% since July 20,24.
What is the next step for XRP?
XRP is supported at the current level of price. At $2.5, the asset has some liquidity. The asset could continue to fall and reach $2.5 price before it starts to rise.
XRP’s recent fall comes after a global market decline following Bitcoin’s (BTC’s) drop to the $115,000 mark. This correction is likely due to investors taking profit after the largest rally in crypto. BTC, XRP, BNB, and XRP all hit record highs within the last 2 weeks.
Market participants may also have been cautious in anticipation of the Federal Open Market Committee’s (FOMC) July 29 meeting. Minutes of the meeting can provide insight into Federal Reserve’s policy. In 2025, the Federal Reserve kept its interest rate constant. The Federal Reserve may break their streak. The Federal Reserve could be tempted to cut rates, which would lead to an increase in the risk of investments. This scenario would push XRP up to its new record high of $3.80.
Please Read This: $3,000 for 1,000 XRP? It’s ‘Crazy’, but Experts Say It’s Just Starting
XRP is also waiting for approval from the SEC on a couple of spot ETFs. The approval of ETFs will lead to an increase in institutional investments for the asset. Under such circumstances, XRP may go higher than $3.80.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
