The XRP price fell below $2 For the first time in more than 12 weeks. In the last 24 hours only, XRP has slipped by 2% at $ 1.99Taking concerns among investors and XRP enthusiasts.
This decrease of 2.18% yesterday added to a drop of 7.93% since June 19, when XRP was at a price of $ 2.17. At one point, XRP even touched $ 1.90, raising fears of a deeper correction.
But the experts suggest that the problem is not with XRP itself.
Why did XRP fall this week?
Analysts believe that the drop in XRP prices does not concern low fundamentals, but rather the result of wider pressure on the market scale.
According to Versan Aljarrah, co-founder of Black Swan Capitalist, the recent decline reflects the overall volatility of the market, not a failure of the utility or the use of XRP.
“XRP simply follows a broader market feeling,” he said.
Geopolitical tensions change the cryptography market
The global cryptography market is currently a lowering. In the past 24 hours, he fell from 2.6%affecting almost all the main active ingredients.
Here is a quick snapshot of the best losers this week:
- Bitcoin: -4.9%
- Ethereum: -14%
- XRP: -8.3%
- Solana: -14.7%
- Dogecoin: -14%
- Cardano: -15.7%
- Sui & BCH: -20.3% each
THE Israeli-Iran conflict is considered the main trigger.
The Israeli-Iranian conflict and its training effects
On June 22, the United States bombed three key Iranian nuclear sites, marking the most aggressive Western military action against Iran since 1979. In retaliation, Iran launched missiles in Israel and threatened American bases in the Middle East.
The Iranian Parliament also voted to close the Hormuz Strait, a critical oil transition.
Surge oil prices – the crypto takes a hit
The conflict has raised oil prices:
- Raw brent: + 3%
- Futures WTI: 5 months
If oil prices increase $ 100 at $ 150 per barrel, as some analysts plan, this could lead to global inflation, a drop in liquidity and a crypto sale. The increase in energy costs also affects the profitability of Bitcoin operations, adding additional pressure to the market.
Can XRP bounce back? Analysts say yes
Despite the short -term drop, some analysts remain optimistic on XRP.
Expert Egrag Crypto predicts that XRP could strike:
- $ 6.70
- $ 13
- Even $ 27 If historical trends are repeated
In the past year, XRP has won 310.4%, even surpassing Bitcoin and Ethereum. Supporters argue that its real value lies in Its usefulnessnot the noise of the market.
Final reflections
The fall of XRP below $ 2 may seem alarming, but market analysts encourage caution. The drop seems to be part of a wider correction on the cryptography market, driven by geopolitical and macroeconomic shocks.
As always, short -term volatility does not exchange long -term potential, especially for public services assets like XRP.
