The cryptocurrency market experienced a turbulent Tuesday, with major assets suffering sharp declines amidst heightened volatility. Despite the widespread downturn, XRP demonstrated notable strength, holding above key levels and avoiding deeper losses compared to many of its counterparts.
XRP dropped to $2.07 on Tuesday, marking a 14% single-day decline. However, this was not its most significant dip of the month, as it had reached as low as $1.70 during the February 3 sell-off. Despite the latest market-wide correction, XRP avoided revisiting its lowest February levels, signaling resilience.
In contrast, Bitcoin plunged below $86,000, hitting its lowest valuation since November 2024. The fact that XRP did not mirror Bitcoin’s deep retracement has caught the attention of market analysts.
Prominent XRP analyst Dom pointed out that XRP’s ability to remain above its critical $2.25 level suggests strength in the asset. He described the brief dip below this level as a “fakeout” rather than a true breakdown. According to Dom, XRP’s ability to maintain this level on a daily close will be a key factor in determining its next move.
He further stated that he is closely monitoring Bitcoin’s performance in the coming days, as a drop below $85,000 could trigger a broader shift in market dynamics.
Additional insights from analyst Charting Guy indicate that XRP has remained above its bull market support band, reinforcing its relative strength compared to other digital assets.
According to data from Coincodex, XRP has delivered stronger returns than 93 out of the top 100 cryptocurrencies, solidifying its outperformance in the market. While altcoins like Solana (SOL) and Dogecoin (DOGE) hit their lowest levels since 2024, XRP maintained a stronger position.
Following the initial sell-off, XRP has staged a solid recovery, climbing 7.5% to $2.31, reducing its weekly losses to 9.4%. Meanwhile, other assets continue to struggle, with Solana gaining 5% but still down 17% for the week and 38% for the month. Dogecoin has followed a similar pattern, showing short-term gains but still dealing with a significant drawdown.
XRP’s ability to hold its ground amid market turbulence has solidified its position as one of the more resilient assets in the crypto space, leaving investors watching closely for its next move.
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 urged to do in-depth 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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