Gripped by fear, XRP turns gloomy as it tests whether it can hold the final support at $1.30

▲ XRP decline / ChatGPT-generated image ©

Amid extreme fear gripping the broader cryptocurrency market, XRP slid to the $1.33 level in tandem with the decline of market leader Bitcoin (BTC).

According to CoinMarketCap on February 24 (local time), XRP closed at $1.33, down 1.60% over the past 24 hours. Although it showed relatively stronger resilience compared to the overall crypto market capitalization, which fell 2.55% to $2.19 trillion, and Bitcoin’s sharp 3.21% drop, it was unable to escape broader downward pressure. CoinMarketCap’s Fear and Greed Index currently stands at 11, clearly reflecting the extreme fear dominating the market.

Technical indicators and trading volume further reinforce the bearish trend. XRP is trading below both its 7-day simple moving average of $1.42 and its 30-day simple moving average of $1.53, forming a clear bearish structure. Despite the 14-day Relative Strength Index (RSI) entering oversold territory at 35.47, 24-hour trading volume surged 40.7% to $3.19 billion, underscoring intense selling pressure.

The short-term trajectory remains heavily dependent on whether Bitcoin can stabilize. XRP’s immediate key support level stands at $1.30. If buying interest emerges at this level and Bitcoin finds momentum for a rebound, XRP could attempt a relief rally toward the daily pivot point of $1.37. However, if the $1.30 support is decisively broken, selling pressure could accelerate toward the $1.20–$1.25 range.

Ultimately, XRP’s current decline is the result of a fear-driven macro environment combined with a weakened technical structure rather than any asset-specific negative catalyst. The key question is whether the $119 million in Bitcoin liquidations recorded over the past 24 hours will subside, signaling an exhaustion of selling pressure. Investors are closely watching whether XRP can break away from the broader market downturn and independently defend the $1.30 level.

Disclaimer: This article is for investment reference purposes only, and we are not responsible for any investment losses incurred based on it. The content should be interpreted solely for informational purposes.