The crypto market is once again in turmoil, and this time, XRP is at the center of it all.

The digital asset, once soaring on bullish sentiment, has plummeted to $2.14, marking a 5.51% daily decline.

The crypto market is once again in turmoil, and this time, XRP is at the center of it all. The digital asset has seen a significant downturn, falling to $2.14 with a 5.51% daily decline.

The crypto market is once again in turmoil, and this time, XRP is at the center of it all. The digital asset has seen a significant downturn, falling to $2.14 with a 5.51% daily decline.

This marks a troubling development, especially considering that XRP had been showing signs of bullish momentum. With the Ripple vs. SEC lawsuit nearing its long-anticipated conclusion and rumors of potential XRP ETFs gaining momentum, many anticipated a rally for the token.

However, macroeconomic factors like Trump’s tariff threats and lackluster whale activity have kept XRP's gains in check.

However, macroeconomic factors like Trump’s tariff threats and lackluster whale activity have kept XRP's gains in check.

This downturn was further fueled by a substantial liquidation event, where $5.9 million in long positions on XRP were liquidated in the past 24 hours.

Price Breakdown:

Technically speaking, XRP has now breached its crucial 50 EMA support at $2.37 and another key level at $2.31. This is a significant breakdown, suggesting that further downside pressure may be imminent.

If the bears manage to push below the 200 EMA at $2.1 and the 0.382 Fib at $2.04, then the next major support level to watch out for is the 0.236 Fib at $1.9.

On the other hand, if the bulls can manage to defend the 50 EMA and regain the levels above $2.31, then we may see a move towards the 0.5 Fib at $2.56.

Liquidations are piling up and the broader market looks shaky. All eyes are now on XRP as it stands at a make-or-break situation.

The Bigger Picture:

Beyond price action, several fundamental factors are shaping XRP’s trajectory. The pending conclusion of the Ripple vs. SEC lawsuit is expected to bring much-needed regulatory clarity, a factor that could fuel institutional interest in the cryptocurrency market.

Moreover, former SEC Commissioner Paul Atkins has called for a more supportive framework for cryptocurrencies, fueling speculation about an XRP ETF in the near future.

However, for now, XRP remains at the mercy of broader market trends. Macroeconomic uncertainty, geopolitical tensions, and regulatory developments will all play a role in determining whether XRP sinks further or stages a comeback.