XRP experienced a harsh setback over the weekend after reaching $1.65, dropping nearly 40% to a low of $1.50. Although it recovered to $1.67 briefly, the price was below $1.55 today.

Why Is XRP Down?

At press time, XRP was listed at $1.57, down 4% for the day and 13% lower than last Monday, reflecting the broader market’s significant decline of $300 billion since Friday. This downturn was exacerbated last Thursday, where ETF investors withdrew a staggering $92.92 million.

A community member, XRP CAPTAIN, remarked on social media, emphasizing the importance of maintaining a price above $1.60 to avoid a full capitulation. Analyst Ali Martinez outlined potential support levels if the current price breaks down further, marking crucial points at $1.38 and $1.02.

Quote from Ali Charts:

For $XRP, resistance sits at $1.86, while support is at $1.38 and $1.02.

What’s Ahead for XRP?

CryptoWZRD explained that XRP’s performance is likely tied to Bitcoin’s trends; a more conclusive positive movement for XRP may require a shift in Bitcoin’s dominance. At the same time, ChartNerd noted the unpredictable nature of the market, reminding investors to adjust their expectations.

Quote from ChartNerd:

The market doesn’t care for your expectations. You adjust or get left behind.