The price of XRP is facing its biggest decline since December
The cryptocurrency market has faced a sharp decline overall Decrease in market value by about 9% In one day. XRP was hit particularly hard, falling 10% and posting its biggest single-day loss since then. December 9. This significant decline has drawn sharp remarks from cryptocurrency critics, including Messari founder Ryan Selkis.
Ryan Selkis criticizes XRP again
Messari’s Ryan Selkis didn’t mince words about the XRP situation, taking to X (formerly Twitter) to share a scathing comment. He humorously suggested that now might be the perfect time to buy XRP, noting that its valuation has fallen below the combined value of major companies like Coinbase. Accurate strategyAnd Softbank.
His comments followed previous criticism where he described the XRP community as “worthless bot groups,” intensifying his ongoing criticism of the asset.
The latest criticism appears to be a reaction to the backlash the former cryptocurrency executive received following the attack Chief Legal Officer at RippleAnd Stuart Aldrote and the XRP community on the same day.
XRP Price Segment: Market and Macro Factors
The price of XRP has been heavily impacted by the broader market slump, with the token losing 21% over the past two days. It fell from a high of $2.59 to a low of $2.05, indicating growing investor uncertainty.
This decline coincided with the Federal Reserve announcing a reduction in expected interest rate cuts for 2025. This news dampened optimism in risk markets, including cryptocurrencies, and increased the bearish sentiment surrounding XRP.
XRP price analysis
As of now, XRP is trading at around $2.16, reflecting a 10% decline over the past 24 hours. Despite this decline, the price seems to have found strong support just below its current level, giving some hope to traders.
Amid this decline, some analysts remain optimistic about XRP’s potential recovery. one of them, DarkDefenderIt indicated a clear breach on the daily chart. He expects XRP to first test $2.42, and if momentum continues, it will surpass $2.92.
Frequently asked questions
The Federal Reserve’s announcement of slower interest rate cuts for 2025 has brought uncertainty to the market, contributing to a 21% drop in the price of XRP over the past two days.
Analysts are optimistic, with XRP showing support around $2.16, and some are predicting a possible price rebound to $2.42 or even $2.92.
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