XRP Slides by 3% to $1.59 as Bitcoin Dominance Rises
Ripple (XRPUSD) fell 2.63% over the last 24h to $1.59, underperforming the broader crypto market’s 0.92% drop on Tuesday, with Bitcoin dominating transaction with selloffs in altcoins.
XRP’s 24 hour decline stems from a combination of technical breakdown, persistent negative sentiment, and a broader market rotation toward Bitcoin amid extreme fear.
Negative sentiment can become self fulfilling, as retail traders exit positions and avoid buying, even when fundamental news is neutral or positive. The market is currently discounting potential long term utility in favor of short term price action.
The price decline extends a steep 7 day loss of 15.67% on the back of negative sentiment in altcoins even as bullish momentum begins to form. XRP broke below key moving averages and support, with RSI near oversold but no bounce yet.
According to data from crypto exchanges, XRP is trading below all major moving averages, signaling sustained selling pressure.
The total crypto market cap fell 0.92% in 24h, but XRP’s drop was nearly three times steeper. Bitcoin dominance climbed to 59.38%, while the CMC Fear & Greed Index sits at extreme fear point, indicating a risk off rotation out of altcoins.
Relative Strength Index of 29.39 is near oversold but hasn’t triggered a rebound, while the moving average convergence divergence histogram is negative, confirming bearish momentum.
Crypto analysts explained that when price remains below these widely watched averages, it reinforces a downtrend and discourages dip buying.
The lack of a bounce despite oversold RSI suggests weak near term demand, leaving the next major support at the recent swing low of $1.53.
Social sentiment around XRP is deeply negative, with platforms like Santiment reporting “fear zone” readings and traders expressing doubt.
Although recent news includes the Moscow Exchange planning XRP futures and new DeFi lending for FXRP , these developments haven’t offset the selling pressure.
In risk-averse environments, capital tends to flow from higher beta assets like XRP into Bitcoin or stablecoins. This dynamic is amplified when overall market liquidity is shrinking—total spot volume dropped 10.41% in the last 24h.
A stabilization in Bitcoin above $78,900 and a drop in Bitcoin dominance below 59% would be early signs that altcoin selling pressure is easing. #XRP Slides by 3% to $1.59 as Bitcoin Dominance Rises
