XRP has extended its recent decline, falling to a 24-hour low of $2.44, marking its weakest level since October 24.
The digital asset has now lost over 33% of its value from its all-time high of $3.65, reached in July. This decline also pulled its market cap below $150 billion, and the asset is currently trading at $2.48, yet to recover that benchmark.
The decline mirrors a broader sell-off across the cryptocurrency market following recent macroeconomic developments and a shift in investor sentiment.
Macroeconomic Factors Pressure Crypto Prices
The current weakness in XRP’s price coincides with a broader market downturn triggered by the Federal Reserve’s latest decisions and geopolitical developments involving the United States and China.
As expected, the Federal Reserve opted for lower interest rates by 0.25% and announced that its quantitative tightening program will conclude in December. While these measures are generally supportive of risk assets, markets had largely anticipated them.
As a result, investors appear to be engaging in “sell-the-news” behavior, reducing exposure after the announcements rather than increasing it. Further weighing on market sentiment was the meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the APEC summit.
Although the discussions reportedly went smoothly and included some concessions from both sides, the event failed to generate any new positive surprises for investors. The combination of these developments led to broad profit-taking across cryptocurrencies, including XRP, as traders looked for the next major catalyst.
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Market Activity and Emerging Catalysts
XRP’s recent decline has coincided with the reduction in speculative activity. CoinGlass data shows futures open interest has fallen to around $4.26 billion from $4.46 billion earlier this week, far below the $11 billion seen earlier this year.
The drop indicates that leveraged traders are cutting exposure as volatility increases. Still, Ripple’s ecosystem remains active, with its RLUSD stablecoin supply rising 15% in the past month and the new XRPR ETF attracting over $113 million in assets, both suggesting longer-term network resilience.
Technical Outlook for XRP
Technically, XRP’s structure has turned decisively bearish. The token has broken below its multi-week support at $2.7, completing a descending triangle formation. This move confirmed a breakdown, followed by a failed retest that reinforced resistance at that level.
Momentum indicators show continued weakness, while trading volumes remain low, confirming limited buying pressure. The 50-day moving average is converging towards the 200-day, forming a “death cross,” which often signals sustained downside movement.
If this formation completes, XRP could slide toward the $2 support zone, where buyers may attempt to establish a short-term base before any potential recovery.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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