XRP price could drop 20% due to crypto summit fallout
The XRP cryptocurrency is facing technical and fundamental pressure, which could lead to a 20% price decline in the near future. According to market analyses and historical patterns, investors should watch three key signals.
According to Cointelegraph, on the weekly XRP/USD chart, a symmetrical triangle is forming—a pattern that reflects a struggle between buyers and sellers. Despite popular belief, symmetrical triangles are not always bullish continuation patterns. They indicate uncertainty, which can resolve in either direction, depending on market momentum.
Historically, such formations in the crypto market have more often resulted in declines rather than price surges. For instance, in 2018, Ethereum’s triangle breakdown led to an 80% price drop.
When a breakout occurs, the price typically moves toward a level equal to the height of the triangle. Based on this technical rule, XRP's downside target is $1.46, aligning with the 50-week exponential moving average (EMA).
How the White House crypto summit affected XRP
XRP’s price fell after the first crypto summit at the White House, held on March 7. Optimism regarding the token’s inclusion in the U.S. strategic crypto reserve quickly faded.
Although the market initially reacted positively, Donald Trump’s team later clarified that the mentioned cryptocurrencies (Ethereum, Solana, Cardano, and XRP) were only illustrative examples, not officially selected assets.
Furthermore, there is no evidence that the U.S. government holds XRP. Trump’s strategy is primarily focused on Bitcoin, and no new altcoin purchases are planned.
This revelation has already triggered a 10% decline in XRP, as investor expectations were not met.
Previously, JPMorgan questioned the possibility of a U.S. strategic crypto reserve including any assets other than Bitcoin.
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