Ripple news: XRP crashes to its lowest since Trump's election win. What next
XRP has dropped to $1.44, its lowest since November 2024, driven by broader crypto market risk aversion following Bitcoin's decline.Summary
Payments-focused cryptocurrency XRP has plummeted to $1.44, marking its lowest level since November 2024, the month President Donald Trump won the U.S. election, amid widespread risk aversion fueled by Bitcoin's price slide. XRP, utilized by Ripple for cross-border transactions, had previously seen a bullish reaction to Trump's election, peaking at $3.65 in July last year before entering a sustained downtrend. The current drop is concerning for bulls because XRP has broken below the $1.60 support level, where buyers previously intervened during the April sell-off, suggesting sellers are now dominant. Technical analysis indicates a potential slide down to the psychological floor of $1.00, as there is little historical support between the current price and that level. Furthermore, traders are positioning for further declines, evidenced by increased demand for bearish put spreads and volatility-betting strangles on the Deribit options exchange.
(Source：CoinDesk)