XRP price drops 17% to 5-month low despite bullish futures bets
XRP’s recent 17% price collapse has caught bullish traders off guard. Just as over 70% of Binance futures traders were betting on further upside, the asset broke key support levels and tumbled to a five-month low. Now, XRP hovers at a critical resistance, while both short-term and long-term indicators flash warning signs.
The weekend selloff began following unexpected tariff-related comments from U.S. President Donald Trump, which shook broader market sentiment. XRP plunged 13% over the weekend, breaching its $1.90 support and slicing through the 100-day EMA, a level that had provided strong technical footing.
XRP price dynamics (Jan - April 2025). Source: Tradingview
As Monday’s Asian session unfolded, the decline intensified. XRP fell as much as 17%, touching a low of $1.615, a level not seen since November 2024. On the 4-hour chart, RSI plunged into deep oversold territory, suggesting sellers had overextended and hinting at short-term buying interest.
Oversold RSI sparks intraday bounce, but daily trend remains under pressure
That bounce came swiftly in the European session. Buyers stepped in to push XRP back up to retest the $1.794 resistance zone. But despite this modest recovery, risks remain skewed to the downside. The daily RSI sits in bearish territory and is inching closer to oversold, meaning the broader trend still leans toward weakness.
Interestingly, the pullback has come just as sentiment on Binance futures hit extreme optimism. As of April 6, over 70% of XRP futures traders were positioned long. Historically, such lopsided positioning has coincided with reversals. As Warren Buffett famously put it: “Be fearful when others are greedy.”
Now the battle lines are clear. A sustained break above $1.794 could pave the way for a rally toward $2.00. But if this key resistance holds and buyers retreat, the door reopens for another drop, potentially as low as $1.50. All eyes are now on whether XRP bulls can regain control, or if recent optimism was the final blow before a deeper decline.
XRP sees a sharp rise in futures volume but fell to a 3-week low before partially recovering. Technical indicators signaled further downside risk with persistently bearish RSI levels.
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