XRP Drops With Market as Bitcoin Weakness Pulls Altcoins Into Oversold Territory

XRP experienced a decline, falling from $1.96 to $1.91, as Bitcoin's slip below $90,000 intensified market-wide risk aversion, pulling altcoins into volatility. This selling pressure was exacerbated by whale wallets dumping nearly 200 million XRP, which overwhelmed resistance at $1.96 and pushed the price into a descending channel. Technical indicators like RSI flashed deep oversold conditions, leading to a capitulation bottom at $1.895, followed by a slight late-session reversal supported by a significant surge in final-hour volume, suggesting early accumulation. For a trend reversal, bulls must decisively break above $1.96; failure to hold the $1.90 support level could lead to a rapid extension toward $1.82 and $1.73. Despite strong institutional interest shown by Bitwise's new XRP ETF volume, the overall market sentiment remains fragile, meaning XRP's price action will likely continue to overreact to Bitcoin's volatility.

(Source：CoinDesk)