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The crypto market watches with bated breath as XRP teeters at $1.97, a battleground where bullish conviction clashes with bearish determination. After a retreat from recent highs, the digital asset now faces a critical test.
The current standoff mirrors the broader tug-of-war in crypto markets, where sentiment shifts rapidly and key price levels dictate the next major move. For XRP, $1.97 isn’t just another number; it’s a line in the sand. A decisive hold here could reignite upward momentum, while a breakdownmay embolden the bears. Market Sentiment: Fear, Greed, Or Indecision?
According to Grumlin Mystery, a well-known crypto analyst, XRP is likely to experience a further downside in the near future, potentially dropping to $1.96. In his March 30th post on X, he highlighted that a decrease in liquidity within the crypto market is playing a crucial role in weakening XRP’s price stability, driven by the impact of US tariffs and the implementation of Trump’s policy changes. Related Reading XRP Recovery Stalls—Are Bears Still In Control? 1 day ago
Grumlin pointed out that restrictive trade policies and economic uncertainty have led to a slowdown in capital flow into riskier assets like cryptocurrencies. With reduced liquidity, market participants have less buyingpower, making it easier for bears to push prices lower. He warned that if these economic conditions persist, XRP could struggle to find strong support, and a drop below $1.96 could trigger further declines.
This drying up of liquidity has allowed sellers to gain the upper hand, exerting downward pressure on prices. As a result, XRP’s ability to hold support at $1.96 remains uncertain, and unless marketconditions improve, a deeper correction could be on the horizon. Source: Grumlin Mystery on X
Grumlin Mystery further elaborated that a sharp change in Trump’s rhetoric regarding tariffs remains highly unpredictable, making it difficult to gauge its full impact on the financial markets, including cryptocurrencies. While many initially believed that Trump’s stance would be a major positive catalyst for the crypto market, the reality appears to be more complex.
The analyst emphasized that market uncertainty is increasing as traders struggle to anticipate the next move in U.S. economic policy. If Trump maintains or intensifies his tariff approach, it could further tighten liquidity conditions, making it even harder for XRP to sustain bullish momentum. Possible Scenarios For XRP
If buyers successfully defend the $1.96 level, XRP could see renewed upside momentum. A bounce from this support zone might trigger a rally toward $2.64, where the next resistancelies. A breakoutabove this level raises the potential to $2.92 or even $3.4, confirming a bullish recovery. Increased trading volume and improving market sentiment would be key indicators of this scenario playing out. Related Reading XRP Price Prediction For April: Analyst Explains What To Expect 18 hours ago
Sellers’ failure to maintain control and XRP’s failure to hold above $1.96 may cause a sharper decline. In this case, the next critical support levelsto watch would be $1.70 and $1.34. Breaking below these levels could expose the asset to more losses to $0.93 or lower. XR trading at $2 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com