Usman Salis
The crypto market just had one of those brutal weeks. XRP got hammered particularly hard, crashing over 22% to $2.73 on Sunday. But before you panic-sell, smart traders are seeing this as a setup for something bigger.
Why XRP Price Got Crushed
XRP tanked to $2.7340 - its lowest since July 13. That's a brutal 22% drop from this year's peak, wiping billions in value. But it wasn't alone in this bloodbath.
The whole crypto market went into free fall. Bitcoin crashed from $123,200 to $112,000, dragging everything down with it. The culprit? Trump's new tariffs spooked investors, plus weak jobs data showing only 35,000 monthly job gains - the worst since 2020.
Making things worse, Ripple co-founder Chris Larsen dumped over $140 million worth of tokens at the peak. When insiders sell big, it rarely helps sentiment.
XRP (Ripple) Technical Analysis Points to Comeback
Here's the twist - the charts actually look bullish. XRP formed a classic "cup-and-handle" pattern, bottoming at $1.6173 in April before hitting $3.6552 in July. This current drop is likely just the "handle" forming.
Technical targets suggest XRP could bounce to $3.3955, then potentially retest the yearly high of $3.6552. The fundamentals back this up too - Polymarket shows 80% odds for XRP ETF approval, and Ripple's RLUSD stablecoin just hit $600 million market cap.
Usman Salis
