American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

XRP price prediction as Ripple liquidations hit $110m

by admin February 3, 2025
February 3, 2025
XRP price prediction as Ripple liquidations hit $110m

The XRP price collapsed hard on Monday as the crypto and stocks meltdown gained steam. Ripple dropped from a high of $3.3970 in January to a low of $1.7753. So, what next for the price of Ripple?

XRP price prediction

The weekly chart shows that the XRP token peaked at $3.40 earlier this year and then plunged to a low of $1.7753, a 47% drop. This crash coincided with the ongoing crypto crash following Donald Trump’s decision to impose large tariffs on China, Mexico, and Canada. 

Lawrence H. Summers

@LHSummers

·Follow

.@realDonaldTrump‘s tariffs are a bully strategy. Bullying doesn’t win over time on the playground or in the international arena. This self-inflicted supply shock is a strategic gift to Xi Jinping. 1/4

4:41 PM · Feb 2, 2025

6.3K

Reply

Read 347 replies

This crash coincided with that of other assets. Futures tied to the Dow Jones dropped by 640 points, while those linked to the S&P 500 and Nasdaq 100 indices fell by 120 and 570 points, respectively. The Russell 2000 index crashed by over 3.20%.

The daily chart shows that the XRP price peaked at $3.60 in January and then crashed to $1.7753. It plunged below the 50-day moving average, while the MACD and the Relative Strength Index (RSI) have continued moving downwards. 

On the positive side, the Ripple price seems to be forming a hammer candlestick pattern, a popular bullish reversal sign. A hammer comprises a small body and a long lower shadow and is one of the most popular reversal signs.

This hammer pattern will be confirmed if the coin ends the day above the $2 support level. If this happens, Ripple will likely rebound strongly and lead to a rally, with the next point to watch being at $3.400, up by 55% from the current level. 

On the other hand, a crash below the lower side of the hammer at $1.7750 will invalidate the bullish view and point to further downward movement, potentially to $1.

Ripple chart by TradingView

Ripple liquidations jumps as key catalysts remain

The ongoing XRP price crash has led to a big increase in bullish liquidations. CoinGlass data shows that over $110 million XRP tokens were liquidated in the last 24 hours, the biggest increase in months. The other big liquidations were Ethereum and Bitcoin, which had over $576 million and $400 million.

Liquidations happen when exchanges close levered positions when losses mount and traders cannot increase their balances. 

Still, some positive catalysts will push the XRP price higher in the near term. First, there are signs that the Securities and Exchange Commission (SEC) will approve a spot Ripple ETF later this year. According to JPMorgan estimates, such a fund will likely attract over $8 billion in the first year. 

However, such inflows may be an exaggeration since there are signs that investors are only interested in Bitcoin ETFs. These funds have attracted over $40 billion in assets, while spot Ethereum ETFs have struggled to cross the $3 billion mark.

The ongoing growth of the XRP Ledger ecosystem may also benefit the XRP price. For example, the Ripple USD token has become a highly actively traded stablecoin with a volume of over $160 million. 

Other networks are entering the XRP Ledger network. The most recent one was Ondo Finance, which now allows institutional investors to mint and redeem the OUSG tokens on the XRP Ledger. XRP Ledger has also had numerous large assets in the ecosystem like Sologenic, Crypto Trading Fund, XRP Army, and Salute. 

Further, there is a likelihood that the XRP token will become part of the Strategic Bitcoin Reserves (SBR) since it is a Made in the USA crypto coin. Trump has hinted that these reserves will have more coins, with the other potential ones being Cardano, Solana, and Avalanche. 

The post XRP price prediction as Ripple liquidations hit $110m appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
3 reasons to buy the Bitcoin, Dogecoin, Sui, Pepe, Hedera, LINK dips
next post
Filecoin price prediction: Will the FIL token recover?

Related Posts

Cannabis Round-Up: US DEA Proposes Rescheduling, Canada Ignores...

May 3, 2024

USD/RUB: Is it a good carry trade pair...

December 15, 2024

Gwen Preston: Building a Successful Portfolio with Uranium,...

February 16, 2024

Galan Builds Inventory with 1,000t LCE, Advances HMW...

May 16, 2024

GE stock price forms giant megaphone pattern ahead...

April 18, 2025

Is there a good reason to buy Texas...

November 2, 2024

US Markets Rebound as Biden Drops Re-election Bid,...

July 23, 2024

Golden Deeps Expands Footprint in the World-Class Lachlan...

July 12, 2024

Morgan Stanley stock sits at record high: buy,...

October 25, 2024

Galloper Gold

March 2, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (2,992)
    • Investing (2,449)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved