XRP Retail Investors Take Profit; Price Slides
Ripple (XRP) has experienced a more than 3% price decline over the last 24 hours as retail investors took profits on Friday. The latest cryptocurrency market update reveals that XRP is caught between a fearful retail base and accelerating institutional infrastructure, creating a volatile environment for short-term sentiment versus long-term utility.
After a rally the previous day, XRP’s price fell to $1.39, representing a 3.15% loss. This decline closely mirrors a broader market sell-off, driven by a significant rejection at a key technical resistance zone.
XRP struggled to break through the resistance area between $1.43 and $1.45, and trading volume surged by approximately 74% above average during this downturn, indicating strong selling pressure and bearish short-term momentum.
The price drop coincided with a broader decline in the cryptocurrency market, with a 3.08% decrease in total market cap. This downturn has been attributed to geopolitical tensions and rising oil prices, which have negatively affected risk appetite.
The immediate outlook centres on the psychological support level at $1.40. If XRP can hold above this level, it may enter a range-bound consolidation between $1.40 and $1.43.
Conversely, a decisive break below $1.40, particularly on high volume, could trigger a more significant correction toward the next crucial support level near $1.33. The upcoming U.S. nonfarm payrolls report, scheduled for March 6, will serve as an important macro trigger for market direction.
While bearish momentum remains strong, support at $1.40 could provide a temporary reprieve. On a positive note, Ripple has significantly upgraded its managed custody infrastructure.
It now supports the XRP Ledger, Ethereum, Solana, and seven other networks.
This upgrade introduces multi-party computation (MPC) key management, EVM compatibility, and automated treasury tools through its acquisition of Palisade. This development is bullish for XRP’s long-term utility, as it enhances Ripple’s financial infrastructure for institutions.
By facilitating the custody and management of XRP alongside other assets for regulated entities, Ripple strengthens the token’s role in cross-border payments and tokenisation. OKB Gains 24% as NYSE Parent Company Triggers Rally
