XRP’s rally is officially over. The token has dropped 16% in the past 24 hours, crashing to $2.32 and undoing all gains from March 2. According to CoinDesk, nearly $58 million worth of XRP futures positions have been liquidated, with $50 million in long positions wiped out as bullish traders were forced to sell.
Trump’s newly implemented tariffs on Mexico, Canada, and China have intensified selling pressure across crypto markets. The global crypto market cap has dropped 8% to $2.76 trillion. Bitcoin (BTC-USD) is down 10% to $83,500, and Ethereum (ETH-USD) has lost 12%, now trading just above $2,000. XRP (XRP-USD), Solana (SOL-USD), and Cardano (ADA-USD) have taken the biggest hits among top tokens, reflecting broader risk-off sentiment.
XRP Faces a Critical Level at $2.20
The next move for XRP depends on whether it can hold above $2.20. According to CoinDesk, this level sits at the middle boundary of its descending parallel channel. If XRP fails to hold, the price could tumble toward $1.76 or even $1.55, where the 200-day moving average provides support.
For a bullish reversal, XRP needs to reclaim $2.48 as support. If it breaks this level, traders could see another push toward $3.00. At the time of writing, XRP is sitting at $2.3846.
