- XRP plunged over 20% in a single day, leading losses among top altcoins as the crypto market experiences its worst sell-off of 2025.
- The decline was triggered by U.S. President Trump announcing sweeping tariffs targeting over 180 countries, causing Bitcoin to drop 9% and Ethereum 19%.
- XRP broke below key technical support levels including its $1.90 neckline and 200-day moving average at $1.83, confirming a bearish Head and Shoulders pattern.
- Next critical support levels to watch are $1.63 and $1.53, with a potential drop to $1.30 if these zones fail to hold.
Date: Mon, April 07, 2025 | 05:58 AM GMT
The cryptocurrency market is witnessing its most severe sell-off of 2025 as global tensions rise. A sweeping wave of reciprocal tariffs announced by U.S. President Donald Trump targeting over 180 countries has shaken traditional and digital markets alike. In the last 24 hours, Bitcoin (BTC) has dropped by 9%, and Ethereum (ETH) has tanked by a staggering 19%, triggering widespread panic.
Amid the turmoil, XRP is leading the losses among top altcoins, plunging more than 20% in a single day.
Key Support Breakdown for XRP
The daily chart paints a grim picture for XRP. The asset has officially confirmed a bearish Head and Shoulders pattern, breaking down from its neckline support around $1.90—a zone that had previously acted as a strong base for multiple months.
What’s more alarming is that XRP has now lost its 200-day moving average (MA) at $1.83, a crucial long-term trend indicator. This technical breakdown has accelerated the downside momentum, dragging XRP to a current price of around $1.65.
With the breakdown complete, there’s little sign of stabilization in sight. The next potential bounce zones lie near the $1.63 and $1.53 support levels—marked from previous consolidation and volume clusters. If these don’t hold, the market could see an even deeper correction.
Bearish Momentum Still in Control
The MACD indicator remains in a deeply bearish zone, showing widening negative histogram bars and a strong downward cross. While technically near oversold territory, the intensity of the current sell-off suggests further downside risk, unless a sudden reversal or catalyst emerges.
Volume analysis shows that this isn’t a typical correction—the current sell pressure is fueled by high volume, indicating that institutional and retail traders alike are exiting positions.
What’s Next for XRP?
If XRP fails to hold the $1.63 level, $1.53 becomes the next crucial zone to watch. A break below that could open the gates toward the $1.30 range, where XRP last found significant demand back in December 2024.
However, any signs of consolidation above $1.60 paired with a declining sell volume could suggest the start of a bottoming attempt. For now, though, the path of least resistance remains down.
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