XRP continued its recent decline on Thursday, falling toward $1.42 alongside broader weakness in the cryptocurrency market. The move came as Bitcoin slipped toward $81,000 and investors further scaled back their positions in risk assets.
Widespread downturn hits crypto market
Market data showed XRP declining approximately 5% to 6% in the latest session, after fluctuating near $1.50 during the previous day. The cryptocurrency lost support above the $1.50 level, a zone it had hovered near for much of the last two weeks. The decline has now brought XRP close to $1.40, a region that traders are watching as an important support area.
The selloff is not limited to XRP. Bitcoin and Ethereum also faced sharp declines as macroeconomic factors, including rising bond yields and elevated oil prices, placed broad pressure on speculative assets.
Macro headwinds deepen declines
Brent crude prices surpassed $104 per barrel on Thursday, while U.S. Treasury yields stayed near their highest levels in decades. The combination of elevated yields, surging oil, and a stronger dollar has contributed to intensified selloffs across cryptocurrency markets.
In addition to spot selling, the latest market action included significant liquidations among XRP leveraged long positions, compounding the negative momentum as forced selling increased pressure on prices.
Chart Nerd maintains that XRP’s current structure still supports the possibility of a powerful breakout, stating that if historic patterns hold, the token could ultimately reach the $27 level in a similar cycle to 2017.
Technical targets and projections
Despite the recent weakness, some specialists remain optimistic on XRP’s long-term trajectory. Analyst Chart Nerd has reiterated that a sustained bullish structure could enable XRP to reach $27, based primarily on technical parallels to the 2017 price surge.
This projection reflects long-term chart behavior rather than short-term fundamentals or immediate price action. Chart Nerd points out that XRP’s current consolidation phase bears resemblance to patterns that preceded previous significant advances, and sees potential for another major breakout if similar market circumstances develop.
Standard Chartered has released an independent long-term outlook, forecasting that XRP could rise to $28 by 2030, though this estimate is based on a separate analysis. Both projections remain conditional on broad market dynamics and a moderation in leveraged trading activity.
Technical analysis continues to play a central role in navigating volatile token markets, especially as investors scrutinize breakout patterns and key support levels. In the rapidly evolving meme token market, trends can quickly generate substantial trading volumes. According to Fomo App data, one recent trade in “Niu Lai” saw an initial $99 investment reportedly grow to around $370,000, highlighting the explosive potential of internet-driven token activity. Observing not only price levels, but also investor behavior and timing, has become increasingly critical. Fomo App provides a single hub for discovering and tracking meme tokens, featuring social feeds, investor rankings, and trade notifications, enabling users to respond swiftly to changing market conditions.
The $27 thesis relies on long-term technical analysis rather than immediate market drivers, echoing previous research from Coinpaper covering the importance of reduced leverage and market expansion.
