XRP Price Collapses: Technical Signals Point to Steep Decline Below $1

Ripple’s XRP price has experienced a dramatic downturn this week, plummeting to its lowest level since November 2022. The sell-off follows the broader cryptocurrency market crash triggered by Donald Trump’s Liberation Day remarks and retaliatory actions from China, leading analysts to predict recession in the US. This is further fueled by Goldman Sachs’ revised projections of a 45% chance of a recession, while JPMorgan, Wells Fargo, and Citi have warned about sustained economic slowdown. 70% of XRP price drop can be attributed to global macroeconomic factors such as the risk of recession and geopolitical tensions.