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Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
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Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets

XRP Holders Exhausted? Analyst Weighs In After Trump Sparks Market ‘Bloodbath’

Christian Encila
by Christian Encila
6 months ago
·
Posted in XRP
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Global financial markets suffered a severe beating after US President Donald Trump made a sweeping tariff declaration, with cryptocurrency XRP being one of the assets that recorded sharp price falls. The digital currency dropped from $2.20 to $1.75 during widespread selling pressure in both conventional and crypto markets.

Related Reading: Forget Bitcoin And Gold—Kiyosaki Says This Asset Dominates Them All

Market Loses $1.65 Trillion After Tariff News

According to crypto analyst Oscar Ramos, the US stock market lost approximately $1.65 trillion when markets opened after Trump’s announcement. The president’s decision to impose tariffs on nearly every country worldwide triggered what some market watchers are calling a “financial bloodbath.”

XRP price retreats to the red zone today. Source: Coingecko

Bitcoin, having just reclaimed $88,000, fell back hard to $77,000. This drastic price drop triggered a spate of forced liquidations on cryptocurrency exchanges. Statistics indicate that within 24 hours alone, more than $500 million worth of trading positions were liquidated, with $348 million of long positions and $210 million of short positions erased.

let’s start with a smile $XRP HOLDERS 👀

Are you tired of buying the XRP DIP?! pic.twitter.com/WWKJwhxHpN

— Oscar Ramos (@realOscarRamos1) April 3, 2025

Technical Signals Point To Possible Bottom

Ramos indicated that XRP could be heading towards a price floor using past support levels. Comparable price behaviors were observed at the start of the year when the top altcoin traded between $1.90, $1.80, and $1.70 amid previous tariff news regarding Canada, China and Mexico.

XRP is currently trading at $1.69. Chart: TradingView

The analyst pointed out a bearish structure called “Three Black Crows” developing on the crypto’s daily chart, indicating additional downward pressure may be on the way. According to Relative Strength Index (RSI) readings, XRP has yet to reach oversold levels on daily charts, which last occurred in July 2024.

Additional Price Declines Could Test $1.50 Support Level

If XRP goes into oversold territory on daily charts, Ramos predicts the price to go lower to about $1.50 to $1.60. Despite these warning signs, the analyst views the current situation with some optimism, noting that maintaining price near $2 instead of dropping lower is “a major win.”

XRP price could go lower if the altcoin goes into oversold region. Image: Gemini Imagen

XRP-specific liquidations contributed $21 million to the market’s total forced closures, with $15 million in long positions and $6 million in short positions eliminated as prices fell.

Related Reading: Crypto Just Got Rowdy—MMA Star Conor McGregor Enters The Ring With New Memecoin

New Ripple USD Launches Amid Market Turmoil

Meanwhile, crypto exchange Kraken has just added Ripple USD (RLUSD), a new stablecoin issued by the company behind XRP. Though this move should normally be market-positive, its effect was trumped by other economic worries.

Ramos has taken a conservative stance with regards to present market trends. The analyst disclosed his plan is to build up a position in Bitcoin with a vision of owning a full BTC and to avoid taking new XRP positions until the coast is clear.

Featured image from Gemini Imagen, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Christian Encila

Christian Encila

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Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

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