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XRP price plummeted in the past 24 hours by more than 10%, reaching a shocking low of $2.30. This sudden drop has left investors worried about what’s next for the cryptocurrency, as the entire market faces turmoil. XRP/USDT 1-day chart – Bitget The broader crypto market is also in a sharp downturn, with Bitcoin crashing by more than 5%, now hovering dangerously close to the critical psychological price of $90,000. If Bitcoin breaks below this key level, the bloodbath in the altcoin market, including XRP, could intensify further. Why is XRP Price Crashing? The Entire Crypto Market Is Crashing: XRP has a history of following broader market crashes and struggling to keep pace when the market recovers. This trend has put XRP holders on edge as they watch their holdings dwindle.  Federal Reserve’s Tight Monetary Policy: The US Federal Reserve’s aggressive stance on quantitative tightening (QT) suggests that interest rate cuts are off the table for now. This uncertainty extends to former President Donald Trump and his administration’s potential implementation of the Strategic Bitcoin Reserve, which could significantly impact Bitcoin’s price but leave XRP lagging behind.  Stock Market Downturn Adds to Crypto Panic: The recent plunge in the US stock market has only added fuel to the fire. The S&P 500 suffered its worst decline in two months, dropping nearly 2% last Friday. Bitcoin’s correlation with traditional financial markets means that such downturns often drag crypto prices down as well, leading to further sell-offs in XRP.  Bybit Hack Creates Investor Anxiety: The recent security breach at Bybit has intensified uncertainty in the crypto market. Investors are increasingly cautious, opting to remain on the sidelines rather than re-enter the market. This lack of buying pressure has only exacerbated the ongoing crash. XRP Price Prediction: How Low Could XRP Go? If selling…

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Filed under: News - @ February 25, 2025 12:28 am