xrp-usdSkerdian Meta•Tuesday, February 4, 2025•1 min read Add an article to your Reading ListRegister now to be able to add articles to your reading
xrp-usd
Skerdian Meta•Tuesday, February 4, 2025•1 min read
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Smaller cryptocurrencies had a brutal crash yesterday, but the reversal was as quick, with Ripple XRP and Pepecoin Pepe gaining 50% off the lows after the bounce.
The altcoin market experienced a sharp downturn on Friday as news of impending US tariffs triggered a wave of selling pressure that escalated over the weekend. Ripple (XRP) plunged below key support levels, initially breaking under $3 on Saturday before sliding further to $2.50 on Sunday. As selling intensified, XRP dipped below $2.50 and even breached the major $2 support zone, briefly hitting $1.76 before a swift reversal higher. By the end of the day, XRP had rebounded by exactly $1, closing at $2.75 as market sentiment improved.
Ripple Coin Chart Daily – Hammer Candlesticks Points to Further Gains
The shift in risk appetite came after reports that US tariffs on Canadian and Mexican imports had been put on hold, boosting risk-sensitive assets like commodity currencies and cryptocurrencies. XRP/USD formed a hammer candlestick pattern, often a bullish reversal signal, indicating a potential recovery after the earlier sharp declines during the Asian trading session.
Besides that, we heard that Ripple Labs transferred 700 million XRP tokens into escrow on February 2, 2025, potentially influencing XRP’s price movement. This action came amid widespread declines in the crypto market, likely aimed at mitigating further downside pressure as bearish sentiment gripped the sector.
Pepe Coin Chart Daily –
However, the market staged a broader recovery, with Bitcoin (BTC) surging 10% off the lows, reclaiming $100K after dipping to around $90K following the recent crypto crash. Meanwhile, Pepe Coin (PEPE) skyrocketed over 50%, rebounding from $0.000008 and marking one of the strongest recoveries among major altcoins.
With improving sentiment and technical support holding, traders will be watching for sustained upside momentum in the coming sessions.
Ripple XRP Live Chart
RIPPLE
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank’s local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
www.fxleaders.com