XRP (XRP-USD) is struggling to hold its ground. The token has dropped 8.60% in the last 24 hours, briefly dipping to $1.90 before recovering slightly. According to Cointelegraph, investors are rattled by increasing U.S. recession fears and disappointment from the White House Crypto Summit, which failed to deliver the regulatory clarity many had hoped for.
Recession Fears Shake the Market
The broader crypto market is feeling the pressure as JPMorgan (JPM) raised the U.S. recession probability to 40%, citing extreme trade policies. Trump’s recent tariffs on Mexico, Canada, and China have intensified concerns about economic growth, further dragging down XRP and other risk assets.
XRP’s Technical Setup Looks Bearish
XRP is also battling a head-and-shoulders pattern, a classic bearish indicator. If the price breaks below the critical $2.00 support, analysts warn it could tumble as low as $1.11. However, a bounce from this level could keep the bull case alive, potentially pushing XRP back toward $3.44.
At the time of writing, XRP is sitting at $2.1429.
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