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XRP was rejected at $1.65 during the weekend.
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Summarize with AI
Summarize with AI
The promising start to 2026 has been quickly forgotten as the entire crypto market, as well as many other financial fields, has posted significant losses over the past couple of weeks, which only intensified during the weekend.
Ripple’s XRP was among the top performers by January 6 when it surged by 30% in days to a multi-week peak. However, the rejection at that point was quite brutal, and the token dumped by nearly 40% to a $1.50 low marked over the weekend. It bounced off to $1.67 on Sunday, only to be driven south below $1.55 earlier today.
Why Is XRP Down?
Despite recovering some ground to $1.57 as of press time, XRP is still 4% down on the day and a whopping 13% lower than this time last Monday. The most obvious answer to why it’s down so badly is the state of the broader market, which has lost $300 billion since Friday and $500 billion since last Wednesday.
However, XRP’s situation worsened last Thursday when ETF investors pulled out a record $92.92 million out of the funds, making it their worst single-day and weekly performance.
XRP CAPTAIN, a popular member of Ripple’s community on X, weighed in on the asset’s performance, indicating that it must remain above $1.60 otherwise risks a full capitulation.
Ali Martinez outlined the next support levels if this one is decisively broken, which are situated at $1.38 and $1.02 before a potential decline to under $1.00. In case of a price rebound, the first major resistance stands at $1.86, he added.
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What’s Ahead, XRP?
CryptoWZRD said XRP had closed indecisively, but it needs to print a “more positive candle,” which will “only happen when bitcoin turns positive.” The analyst also noted that the XRP/BTC pair can move higher once the Bitcoin dominance starts to decline again, which hasn’t been the case lately.
ChartNerd was more positive. They noted that very few people expected XRP to dump below $2.00 when it surged to an all-time high of over $3.60 last summer. Now, though, even fewer people anticipate seeing it surge past $3.00 again, and their point was that the market rarely matches investors’ expectations.
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Source: https://cryptopotato.com/why-is-ripples-price-down-today-and-what-is-next-for-xrp/
