XRP Faces Steep Decline Amid Market Turmoil
XRP has taken a notable hit this week, dropping 19% and falling 33% from its January peak. Despite this, it’s still holding above the critical $2 mark. the broader crypto market is also suffering, with bears firmly in control.
On March 9, over $23.61 million in XRP long positions were liquidated. This indicates that sellers are dominating the market. Coinglass data shows $375 million in open short interest compared to just $125 million in longs.
Donald Trump’s initial crypto reserve plan didn’t help XRP. Crypto czar David Sacks clarified that only Bitcoin would be purchased. This proclamation likely contributed to XRP’s decline.
Analysts have mixed views on XRP’s future. Solberg Invest sees the $2 level as crucial. If this support holds, a rally to $4.4 could happen.Though, Crypto Anbu notes a bearish head-and-shoulders pattern forming. If the $2 support breaks,XRP could drop to $1.5 or lower.
With a market cap of $126 billion,XRP’s growth potential is limited. Smaller-cap alternatives like Cardano and Hedera offer better risk-to-reward ratios.Cardano, with a $26 billion market cap, focuses on scalability and security. hedera, valued at $8.8 billion, offers fast, secure transactions.
Solaxy,a Solana Layer 2 blockchain,is gaining traction. Its presale has raised $25 million. With a generous staking APY over 150%, it offers potential returns of 10x to 50x. Learn more at the <a href="https://sol
