The decline in Bitcoin (BTC) and altcoins shows no sign of ending. Just when Bitcoin and the market seemed to be recovering, renewed selling pressure in recent weeks has pulled the BTC price down to the $70 level.
The situation is also getting worse for altcoins, with Ethereum (ETH) falling to the $2,000 level.
Apart from that, BNB dropped to $680, Solana (SOL) fell below $100 to $90, and XRP dropped to $1.4.
With this decline, XRP has fallen to its lowest price since the election of US President Donald Trump.
XRP fell to $1.4, its lowest level since November 2024, and also dropped below a key support level that attracted buyers during the sharp decline last April.
This situation indicates that sellers have taken control of the XRP market.
According to experts, the lack of clear support between $1 and $1.44 could lead to further declines, and the XRP price could fall sharply below $1.
Is XRP in a Bear Market?
Lately, we’ve been hearing a lot about a crypto winter and a bear market for Bitcoin and the cryptocurrency industry.
While most analysts argue that the market has entered a bear market and further declines are possible, some suggest that we are in a bear market and nearing its end.
As bear market discussions continue, analysis firm Alphractal stated in its latest analysis that XRP is on the verge of an aggressive bear market.
At this point, the analytics company listed 3 indicators suggesting that XRP is about to enter a bear market:
“1) Actual Capital Increase (shows that new capital came from XRP.)”
2) MVRV Z-Score (located directly above a key level that determines whether the bear market will continue or the last support level on the chain.)
3) NUPL (Net Unrealized Profit and Loss) – (It is at a crossover point. Further declines would mean that most XRP trades would turn into unrealized losses.)
“XRP is at a critical on-chain transition point.”
The data suggests that if the price falls a little further, conditions could rapidly deteriorate, leading to a longer bear market and a potential capitulation phase.
If these three indicators weaken further, selling pressure is likely to increase in the coming days.
*This is not investment advice.
