The crypto market is under pressure as investors react to economic concerns

Rising bond yields and inflation worries are pushing them toward safer investments, leaving riskier assets like XRP struggling.

The crypto market continues to be pressured as investors react to economic concerns following the latest U.S. jobs report. With rising bond yields and inflation worries, investors are shifting toward safer investments, leaving riskier assets like XRP struggling.

Among the key takeaways, Bitcoin, the largest cryptocurrency, has dropped 20% to reach $80,000, while XRP is bearing the brunt of this uncertainty. The 10-year U.S. Treasury yield has surged to 4.3%, its highest level since November 2023, a clear sign that big investors are pulling out of crypto. Moreover, global trade tensions are stirring up even more uncertainty.

Here’s what you need to know about XRP as it trades at crucial levels.

Is A Big XRP Price Move Coming?

Crypto analyst Ali Martinez has highlighted the possibility of a major price move for XRP despite recent ups and downs.

As Martinez points out, the 1-day XRP chart has formed a classic technical pattern known as a head-and-shoulders, which is often a bearish signal and signals the potential for a price drop. However, if XRP manages to stay above the key $2 support and moves past the right shoulder of the pattern, it could trigger a strong rally. For this to happen, we’d need to see solid buying pressure and positive market sentiment.

If the price action continues in this direction, we might see XRP testing the $5 level, which would depend on the approval of an XRP spot ETF by the SEC.

The potential for an XRP spot ETF to attract institutional investors and drive prices higher is significant, but it hinges on regulatory approval. However, the SEC’s next move will be crucial. If the agency decides to appeal Judge Torres’ ruling, it could effectively block any XRP spot ETF applications, ultimately delaying any potential market growth.

At the same time, Ripple and the SEC could be entering into discussions following Judge Torres’s final ruling. As we’ve covered previously, Ripple might try to challenge certain aspects of the decision, which could ultimately impact the case’s outcome and influence XRP’s future.

Key XRP Levels To Watch

XRP is at a crucial level. If it stays above $2 and breaks key resistance, it could start a strong rally, possibly reaching $2.80 soon. Technical indicators show the Relative Strength Index (RSI) at 42, meaning XRP isn’t overbought or oversold, leaving room for price movement.

Currently, XRP is trading at $2.18, down 6.5% in the last 24 hours, with a market cap of $126.5 billion. All eyes are now on XRP’s support levels—will it hold strong or crack under pressure?