Date: Sat, March 29, 2025 | 12:34 PM GMT
The cryptocurrency market has quickly reversed its weekly recovery, with Ethereum (ETH) dropping over 7% in the past 48 hours, falling to $1,850. This sell-off has triggered broader weakness across altcoins, including XRP, which has declined more than 5% today, erasing its recent gains.
XRP at a Critical Support Level
On the daily chart, XRP has formed a Head and Shoulders pattern, a traditionally bearish setup. Today’s drop pushed it below the 150-day moving average (MA) at $2.17, sending it to a critical support zone between $1.90 and $2.11—a level that has historically prevented breakdowns. Currently, XRP is trading near the upper boundary at $2.09.
What’s Next for XRP?
While the Head and Shoulders pattern suggests further downside risk, Bitcoin dominance (BTC.D) will play a key role in shaping the market direction.
BTC dominance has rebounded from both the 50-day MA and rising wedge support, climbing from 61.34% to 62.04%. As BTC dominance nears its resistance trendline, two scenarios could unfold:
- Rejection at Resistance – If BTC.D gets rejected from its resistance trendline, altcoins like XRP could see a relief bounce.
- Breakout Above Resistance – If BTC dominance breaks out, it could trigger another wave of selling pressure on altcoins, including XRP, potentially leading to further downside.
For now, traders should watch XRP’s $1.90-$2.11 support zone and BTC dominance resistance for the next move.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.