The market value of XRP price currently stands at $2.15 after experiencing a 12.96% decrease compared to its previous closing price of $2.47.
- Intraday High: $2.49
- Intraday Low: $2.13
- 24-Hour Trading Volume: $1.56 billion (down by 9% from yesterday)
- Market Cap: $115 billion
- Ranking: 4th largest cryptocurrency by market capitalization
Bitcoin (BTC) and Ethereum (ETH) together with XRP face a bearish market structure as major assets within the cryptocurrency market sector show substantial price declines. The Bitcoin price slipped underneath $90,000 while Ethereum decreased 9% to $2,402.
Key Factors Affecting XRP Price Today
The recent drop in XRP’s price can be attributed to several key factors:
1. Broader Crypto Market Slump
The cryptocurrency market has operated under a general negative movement since its inception. Bitcoin suffers a major price drop that pulls down XRP and Ethereum, and Solana together with other major altcoins. Investor sentiment deteriorated due to the recent negative performance of both Nasdaq Composite and its three consecutive trading days of falling.
2. Bybit Exchange Hack
The crypto market sentiment remains negative because Bybit experienced a security breach at its Dubai-based exchange facility. The hackers responsible stole $1.5 billion worth of digital assets, which triggered widespread selling throughout the market. The security incident has deeply affected investor trust because security concerns traditionally drive cryptocurrency price movements.
3. Technical Selling Pressure
- The bearish outlook for short-term XRP price performance occurs because the coin dropped beneath both its 50-day and 100-day moving average levels.
- XRP shows an RSI reading of 39, which means the market value remains at oversold levels, but more market declines may occur before a possible recovery.
- The $2.10 support level performs as XRP’s current testing barrier, and if broken, it would expose the following support line around $1.95.
4. Regulatory Uncertainty
The continuous SEC regulatory challenges against XRP have triggered a noticeable decrease in its XRP market price. The U.S. market status of XRP continues to be a cause for market caution among investors who seek additional regulatory information.
XRP Price Prediction for Today
XRP’s daily price trajectory according to technical analysis and market fundamentals as well as external conditions will follow the following path:
Bullish Scenario (If Recovery Happens)
The price of XRP may attempt to challenge resistance between $2.30 and $2.35 if market buyers sustain their momentum and XRP maintains a position above $2.10 support. XRP has the potential to reach $2.50 during the day after breaking through its current operating range.
Bearish Scenario (Further Drop)
XRP will likely continue its downward trajectory to $1.95 but may extend to $1.85 in case bearish pressure maintains its strength. The price will then search for robust support levels.
AI-Based Prediction for February 28, 2025
XAI-based forecasting suggests XRP will recover to $3 during February 28, 2025 which indicates a future rise of 39.5% from its current trading value. The analysis relies on data from previous price trends along with market trends that show recovery patterns.
Final Thoughts
Predictions for the short term indicate bearish price movement due to market conditions that approach oversold positions.
- Key Resistance Levels: $2.30, $2.50
- Key Support Levels: $2.10, $1.95
- Market Sentiment: Cautiously bearish
XRP investors must track market movements together with regulatory news and signposts of potential market recovery as its current price stands at significant lows. Both Bitcoin price stabilization and market confidence return will enable XRP to experience future upward movements.
