Will XRP price drop to $1.12 as it remains capped under a descending trendline resistance?
#TrumpSeeksQuickEndToIranWar XRP price fell 15% over the past two weeks as its price action remained below a descending trendline that has been acting as key dynamic resistance.
Summary
XRP price has dropped over 15% in two weeks and remains capped below a long-term descending trendline acting as key resistance.
Macro pressures, including geopolitical tensions and reduced rate-cut expectations, have weighed on sentiment, contributing to over 40% decline from yearly highs.
Bearish indicators signal further downside risk toward $1.12 and potentially $1.00, while a breakout above $1.40 could trigger a short-term recovery.
According to data from crypto.news, XRP xrp1.01%XRP price has fallen 15.6% from its monthly high of $1.60 reached on March 17 to $1.35 at press time. Zooming out the charts, the losses mount up to over 40% from its year-to-date high of $2.39.
XRP price fell amid geopolitical and macroeconomic concerns that have plagued the entire crypto market since the beginning of this year. These include U.S. tariff hikes on the EU and Canada and the subsequent war between the U.S. and Iran in the Middle East that has led crude oil prices to soar to multi-year highs, sparking concerns of rising inflation and driving investors away from risk assets.
Lower expectations of any interest rate cuts from the Federal Reserve have also dampened the mood for speculative assets.
XRP price fell 15% over the past two weeks as its price action remained below a descending trendline that has been acting as key dynamic resistance.