XRP's Price Decline Amid Market Sell-Off and Future Prospects

According to Cointelegraph, XRP has experienced a significant decline, dropping nearly 40% to approximately $2.19, following a multi-year high of $3.40 just two months ago. This downturn is part of a broader market sell-off influenced by U.S. President Donald Trump's trade policies, despite positive developments such as the SEC dropping its case against Ripple. Despite this decline, XRP remains up 350% from its November 2024 low of $0.50, indicating a potential consolidation phase after a substantial rally. This sideways movement has sparked debate over whether it marks the end of the bull run or presents a prime buying opportunity. XRP has been trading within a range of $1.77 to $3.21 since January, facing repeated rejections near the upper boundary and diminishing bullish momentum. Analyst CrediBULL Crypto notes that XRP's recent attempt to bounce back stalled below $2.20, suggesting continued bearish control. He anticipates the price may revisit the lower range around $1.77, which could present a potential long entry point. The chart analysis indicates a high-demand zone extending as low as $1.50, where bulls might re-enter the market. CrediBULL suggests that a short-term market-wide bounce, primarily led by Bitcoin, could trigger a temporary recovery. However, he emphasizes that a definitive bullish trend reversal would require a breakout above $3.21. Until such a breakout occurs, XRP is expected to remain in a sideways pattern, with a focus on reactions at the $1.77 support level before committing to a long position. Analyst Stellar Babe highlights the possibility of a bull flag formation within XRP's current range, which could lead to a significant price rally. A bull flag typically forms when the price consolidates within a parallel channel following a strong uptrend, resolving when the price breaks above the upper trendline. If XRP breaks above the $3.21 level, the projected target based on the flagpole's height is around $12, representing a potential 450% increase from current prices. Additionally, a recent analysis by InvestingScoope suggests that XRP is consolidating within a long-term bullish structure, trading inside a five-year ascending channel. This pattern resembles the March 2020 to April 2021 rally, and if it continues, XRP could be poised for its next upward move, potentially reaching $6.50 in the coming months. Despite the recent pullback, the broader bullish cycle remains intact as long as XRP holds above the 50-week moving average. Readers are advised to conduct their own research before making any investment decisions, as every trading move involves risk.