The crypto market is down today, with the global market cap slipping 6% to $3.92 trillion. Bitcoin is holding above the $118K mark with a modest 0.7% dip. However, altcoins faced steeper losses, with Ethereum down 6% and XRP plunging 10%. Solana, Dogecoin, and Cardano have also seen sharp declines, losing between 7-10% over the past 24 hours.
XRP Drops 10%, Sees $89 Million In Liquidations
Ether, XRP, and Bitcoin traders were hit hard in Tuesday’s crypto sell-off, with Ether seeing the biggest losses at $159 million in the last 24 hours, followed by XRP at $89 million, as liquidations surged across the market.
However, even with XRP’s 10% drop, experts believe that this is just a healthy pullback. Analyst XRPunkie points out that XRP has surged 92% in just 20 days, rising from $1.95 to $3.66. According to him, this kind of pullback is a normal and healthy part of crypto market movements. He believes it’s a short-term pause before prices head higher, and a target of $10 to $15 is still very much in play.
He also believes that $8 is the minimum for XRP, and we should be expecting much more, and a target of $20 to $30 is still on the cards.
Will XRP Break Above $3.84?
Experts believe that XRP could still break past its 2018 high of $3.84 if the broader altcoin rally continues. Bitcoin dominance is slipping, and capital is flowing into altcoins. XRP’s next move will depend on the overall market momentum.
CrediBULL Crypto notes that XRP has hit range highs after completing a triple tap setup. It’s now pulling back slightly, testing support, and could be finishing a small wave up from the $1.90 low.
CryptoBull pointed out that XRP is forming a classic Cup & Handle pattern, a bullish setup. If it plays out, the next move could push XRP above $7, based on the pattern’s projected target.
XRP Adoption Grows with Strategic Treasury Moves
Meanwhile, XRP’s corporate adoption keeps growing. Nature’s Miracle is adding $20M worth of XRP to its treasury, which shows growing confidence in XRP as a tool for balance sheet diversification. The move comes during a market dip, offering a strategic entry point.
At the same time, a Brazilian company called VERT launched a $130 million blockchain platform on the XRP Ledger. These moves show that XRP is gaining traction in corporate finance and global infrastructure.
