XRP's price has faced significant pressure today, driven by a broader downturn in the cryptocurrency market. The market has been rattled by a massive $770 million in bullish liquidations, with XRP among the major altcoins experiencing a sharp decline. This sell-off has been exacerbated by a risk-off sentiment among investors, following the success of the Chinese AI startup DeepSeek, which has raised concerns about future demand for high-priced tech stocks. Additionally, the anticipation of a hawkish stance from the Federal Reserve in its upcoming interest rate decision has further contributed to the negative sentiment, impacting XRP and other cryptocurrencies.
The tensions between the XRP community and Bitcoin supporters have also added to the volatility. Speculation around Donald Trump's comments about the U.S. Crypto Reserve potentially being an XRP Reserve instead of a Bitcoin Strategic Reserve has fueled market uncertainty. Despite these challenges, some experts maintain a long-term optimistic outlook for XRP, suggesting that while the cryptocurrency might face short-term declines, it has the potential for recovery and growth in the future.
XRP's price has decreased by 1.63% today, currently trading at $2.976182. The cryptocurrency reached a high of $3.034865 and a low of $2.728057 during the day.