Key Insights:
- XRP falls to $1.30, marking its lowest price since November 2024 amidst a market-wide sell-off.
- Peter Brandt predicts Bitcoin may crash to $42k, a critical support level for the wider crypto market.
- Despite market volatility, XRP records a positive net inflow of $4.83 million while other assets face outflows.
XRP price took a sharp dive on Friday, leading cryptocurrency losses with a 10% plunge within 24 hours. The token traded below $1.30, its lowest price since November 2024, as broader market volatility continued to affect prices across the board. Other major cryptocurrencies, including Bitcoin, Ethereum, Solana, Dogecoin, and Cardano, also recorded losses, reflecting the intense sell-off pressure that has gripped the market recently.
Veteran trader Peter Brandt has shared a concerning outlook for Bitcoin, forecasting a possible drop to $42,000 in the near future. Brandt described the current market correction as a “banana peel” drop, a term used to refer to sudden and unexpected price changes that take traders by surprise. While the market correction has led to significant price declines, Brandt believes Bitcoin’s price will find strong support around the $42,000 level, potentially preventing further major losses.
Wide-Ranging Crypto Market Declines
The downturn in the cryptocurrency market has seen Bitcoin’s price fall to approximately $60,074, while Ethereum also experienced a drop to $1,748. XRP, on the other hand, has fallen to the $1.13 support level, erasing the gains seen since November 2024. The broader market remains uncertain, especially with Peter Brandt’s prediction hanging over Bitcoin’s future trajectory. Should Bitcoin continue its correction, it could drag other cryptocurrencies like XRP down further.
In the world of cryptocurrency exchange-traded funds (ETFs), there was a clear divide in inflows and outflows. On February 5, U.S. Bitcoin ETFs experienced a substantial $434 million in net outflows, with BlackRock’s Bitcoin ETF (IBIT) leading the charge at $175 million in withdrawals. Ethereum ETFs saw outflows of $80.79 million as well.
Source: TradingView
However, Solana and XRP ETFs recorded minor inflows, with Solana’s spot ETFs seeing $2.82 million and XRP showing a stronger $4.83 million inflow, signaling some investor confidence amid the broader market uncertainty.
XRP Price Targets and Technical Indicators
XRP’s immediate downside price target is currently at $1.20, with a possible drop to the $1.10 area if bearish momentum persists. The Relative Strength Index (RSI) has also fallen to 33, indicating that XRP is nearing oversold conditions. On the other hand, a price rebound above $1.40 could shift the market sentiment and provide a more optimistic outlook for the cryptocurrency.
Despite the recent price declines, XRP’s relative stability compared to other cryptocurrencies indicates that it could recover faster, depending on the broader market conditions and Bitcoin’s price movement in the coming days.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Analyst Says the Lower XRP Goes the More Bullish the Breakout as Experts Remain Unsure About XRP Recovery
Analyst says the lower XRP goes the more bullish the breakout.
Other experts remain unsure about an XRP recovery.
Can the price of XRP set a new ATH this year?
The crypto market sees renewed hope and improved anticipation of a bullish recovery rally as the price of BTC just reclaimed pri
CryptoNewsLand24m ago
SBI Ripple Asia launches an XRPL token issuance platform, advancing the implementation of compliant blockchain finance
SBI Ripple Asia announced that its token issuance platform based on the XRP Ledger has officially launched, marking an important application of blockchain in compliant financial services. The platform enables businesses to manage tokens directly on-chain and complies with regulatory requirements, improving payment and loyalty mechanisms. In the future, SBI will also optimize cross-border payments between Japan and Korea, driving XRPL’s adoption in the real economy.
GateNews2h ago
Ripple issues a $330k stablecoin forecast, while signals of institutionalization emerge at the XRP Tokyo conference
Ripple expects on-chain stablecoin trading volume to reach $330k at the Tokyo XRP Conference, emphasizing that stablecoins are evolving from auxiliary tools into liquidity infrastructure. As a bridge connecting traditional and digital finance, Ripple is helping bring stablecoins such as RLUSD to market and accelerating institutional adoption. With Japan’s regulatory environment being clear, it plays a key role in promoting the growth of the XRP ecosystem. If stablecoins achieve high trading volumes, it will change the way capital flows and how cross-border payments operate; XRP’s future price action will depend on institutional adoption and the growth of real trading demand.
GateNews4h ago
XRP zooms 5% on bitcoin strength, but trend reversal still unconfirmed
XRP has broken above resistance at $1.37, indicating a potential tactical breakout, though the overall trend remains bearish. Key technical signals and strong volume suggest some accumulation, but market conviction is mixed. Traders should monitor price levels around $1.37 and aim for a significant test at $1.40-$1.42.
CoinDesk7h ago
Ripple report: 8 African countries advance crypto regulation, with South Africa leading the stablecoin space
Ripple reports that about 8 countries in Africa have established cryptocurrency regulatory frameworks, driving high adoption rates due to demand for remittances and inadequate financial infrastructure. Regulation is more mature in South Africa and Mauritius, while Nigeria and Kenya are still developing. Stablecoins are gradually shifting from speculation to business use, enhancing the potential for integrating financial systems.
MarketWhisper9h ago
XRP Leads $224 Million Weekly Inflows as Ethereum Lags and Bitcoin Sentiment Remains Mixed
Global digital asset investment products recorded $224 million in net inflows for the week ending April 3, 2026, following a $414 million outflow the prior week, with XRP dominating at $119.6 million while Ethereum saw $52.8 million in outflows and Bitcoin posted $107.3 million in net inflows amid polarized investor sentiment.
CryptopulseElite9h ago
