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The decline in Bitcoin ($BTC) and altcoins shows no sign of ending. Just when Bitcoin and the market seemed to be recovering, renewed selling pressure in recent weeks has pulled the $BTC price down to the $70 level.
The situation is also getting worse for altcoins, with Ethereum (ETH) falling to the $2,000 level.
Apart from that, BNB dropped to $680, Solana (SOL) fell below $100 to $90, and $XRP dropped to $1.4.
With this decline, $XRP has fallen to its lowest price since the election of US President Donald Trump.
$XRP fell to $1.4, its lowest level since November 2024, and also dropped below a key support level that attracted buyers during the sharp decline last April.
This situation indicates that sellers have taken control of the $XRP market.
According to experts, the lack of clear support between $1 and $1.44 could lead to further declines, and the $XRP price could fall sharply below $1.
Is $XRP in a Bear Market?
Lately, we’ve been hearing a lot about a crypto winter and a bear market for Bitcoin and the cryptocurrency industry.
While most analysts argue that the market has entered a bear market and further declines are possible, some suggest that we are in a bear market and nearing its end.
As bear market discussions continue, analysis firm Alphractal stated in its latest analysis that $XRP is on the verge of an aggressive bear market.
At this point, the analytics company listed 3 indicators suggesting that $XRP is about to enter a bear market:
“1) Actual Capital Increase (shows that new capital came from $XRP.)”
2) MVRV Z-Score (located directly above a key level that determines whether the bear market will continue or the last support level on the chain.)
3) NUPL (Net Unrealized Profit and Loss) – (It is at a crossover point. Further declines would mean that most $XRP trades would turn into unrealized losses.)
“$XRP is at a critical on-chain transition point.”
The data suggests that if the price falls a little further, conditions could rapidly deteriorate, leading to a longer bear market and a potential capitulation phase.
If these three indicators weaken further, selling pressure is likely to increase in the coming days.
*This is not investment advice.
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