Crypto

XRP Price Slips Below $2 Amid Geopolitical Tensions and Market-Wide Pressure

XRP

XRP has dropped below the crucial $2 mark for the first time in over 12 weeks, reflecting a broader correction in the cryptocurrency market. The token slipped 2% in the past 24 hours, trading at $1.99 as of early Monday, extending its week-long decline to over 8%. The recent dip, which saw XRP briefly touch $1.90, has raised investor concerns, but analysts suggest the root cause lies outside XRP’s fundamentals.

According to Versan Aljarrah, co-founder of Black Swan Capitalist, the pullback reflects heightened volatility across global crypto markets, not a flaw in XRP’s utility or adoption. Data from the past week supports this view, with major cryptocurrencies witnessing sharp losses Bitcoin is down 4.9%, Ethereum 14%, and Cardano and Dogecoin over 14% each. Sui and Bitcoin Cash have dropped more than 20%.

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The sudden downturn follows escalating geopolitical tensions, particularly the Israel-Iran conflict. On June 22, U.S. airstrikes targeted three Iranian nuclear sites, prompting missile retaliation from Iran and threats to close the Strait of Hormuz a strategic oil trade route. In response, Brent crude prices surged by 3%, and WTI futures touched a five-month high. Analysts warn that oil prices breaching the $100–$150 per barrel range could trigger global inflation, reduce investor liquidity, and spark continued crypto sell-offs. Rising energy costs may also negatively impact Bitcoin mining profitability, compounding the pressure on the overall market.

Despite the turbulence, market watchers remain cautiously optimistic about XRP’s outlook. Technical analyst EGRAG Crypto maintains that XRP could rally significantly in the medium term, with potential upside targets of $6.70, $13, and even $27, if historical price cycles play out. Notably, XRP has gained over 310% in the past year, outperforming both Bitcoin and Ethereum during that period.

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In summary, while XRP’s drop below $2 may unsettle investors, the broader context points to external macroeconomic shocks rather than any fundamental weakness in the token. Analysts continue to see long-term potential in XRP, underpinned by its strong use case and growing institutional interest.

Disclaimer: This post is for general informational purposes only. It does not constitute financial advice. Please consult a qualified professional before making financial decisions.

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