XRP’s price has been on a downward trend, falling for four consecutive days and hitting its lowest level since March 11. Like many altcoins, XRP has been affected by broader market concerns, including economic uncertainty in the U.S. and upcoming tariffs from Donald Trump on April 2.
Recent economic data has fueled fear across financial markets. Inflation rose in February, while consumer spending slowed. Additionally, a report from the Conference Board revealed that consumer confidence declined in March. In response, Moody’s economist Mark Zandi warned that the chances of a recession are increasing.
These concerns triggered a sell-off across both stock and crypto markets. The Dow Jones, Nasdaq 100, and S&P 500 all dropped by over 2%, adding to the uncertainty surrounding XRP.
Ripple Expands Despite Market Headwinds
Despite XRP’s price struggles, Ripple has made major business moves. The company recently partnered with Chipper Cash, a leading African fintech firm that will use Ripple’s technology for transactions.
Ripple also secured a money transmitter license in New York in January and, more recently, received another license in the United Arab Emirates. These regulatory wins signal growing adoption of Ripple’s blockchain solutions.
Another boost for Ripple came when the SEC dropped its lawsuit against the company. This legal victory has encouraged more U.S. businesses to explore partnerships with Ripple, as CEO Brad Garlinghouse noted in an interview with Fox’s Maria Bartiromo.
Ripple aims to disrupt SWIFT, the traditional banking system that processes over $150 trillion annually. By offering a faster, cheaper solution for banks and money transfer companies, Ripple is positioning itself as a serious competitor in global finance.
XRP Price Prediction: Will It Drop to $1?
Technically, XRP’s price is flashing warning signs. The coin peaked at $3.40 in January but has since dropped to $2.31. It has also formed a head and shoulders (H&S) pattern, a bearish signal. The pattern’s neckline sits at $1.96, while the shoulders and head are at $3 and $3.40, respectively.
Additionally, XRP has developed a symmetrical triangle pattern, indicating an impending breakout. If XRP falls below $1.95, a further decline to $1 is possible. This level aligns with the 50% Fibonacci retracement and the H&S neckline, meaning a 53% price drop could occur if support fails.
