Although the Entire Cryptocurrency Market Has Been Under Pressure in Recent Days, Some Altcoins Are Suffering

Despite Ripple—the company behind the token—receiving positive legal news this month, XRP has emerged as one of the biggest losers

The cryptocurrency market has seen some serious pressure recently, with major coins like Bitcoin and Ethereum taking big hits. But while most altcoins have also been struggling, some are suffering steeper losses than others.

Among the biggest losers is XRP, despite the company behind the token, Ripple, receiving some positive legal news this month.

The Rise And Fall Of XRP’s Price

On March 19, XRP experienced a massive but short-lived surge to $2.60. This rally was fueled by an announcement from Ripple CEO Brad Garlinghouse that the long-standing lawsuit between his company and the U.S. Securities and Exchange Commission (SEC) had effectively concluded.

For over four years, the XRP community had eagerly awaited this moment, hoping that a favorable ruling would ignite a sustained bull run. However, the excitement was short-lived.

The rally in XRP quickly turned into a textbook ‘sell-the-news’ event, with prices plummeting rapidly after the announcement. Even last week’s official confirmation of the lawsuit's closure failed to capitalize on the legal victory. Instead, XRP has seen a new low, falling below $2.10.

Since March 19, when XRP hit a peak of $2.60, the token has lost around 20% of its value. If this downtrend continues and the price dips below $2.00, we could see even more trouble brewing, despite Ripple’s favorable regulatory outcome.

Broader Market Correction Contributes To XRP’s Struggles

While XRP’s decline can be partly attributed to profit-taking after the lawsuit news, it is also important to consider the broader market correction affecting all major cryptocurrencies.

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have all suffered significant losses, though none have been as pronounced as XRP’s. Despite the general market downturn, XRP’s steeper decline suggests additional underlying factors at play beyond just the macroeconomic landscape.

Whale Activity: A Silent Force Behind XRP’S Crash?

Another potential catalyst for XRP’s drastic decline is the behavior of large market participants—often referred to as whales—who have historically played a pivotal role in shaping the token’s price movements.

Following the U.S. elections, many whales went on an accumulation spree, which coincided with XRP’s meteoric rise from $0.60 to $3.40 within just a few months. However, recent data suggests that these major holders have shifted their approach, engaging in large-scale sell-offs rather than accumulation.

Such massive whale disposals have the potential to cause a ripple effect, triggering panic selling among retail investors and exacerbating the downward pressure on XRP’s price. If this selling trend continues, we could see even more violent price swings in the near future.

What’s Next For XRP

Despite the current downtrend, some analysts believe XRP could find strong support around the $2.00 level. If it holds, a potential rebound may be in sight. However, a decisive break below this psychological threshold could lead to deeper losses, potentially testing lower support zones around $1.80 or $1.60.

In the short term, several key factors will determine XRP’s trajectory: the outcome of the SEC appeal window, which closes on March 31; any new regulatory updates from U.S. authorities; and the potential for a sustained recovery in broader market conditions.

Optimism Or A Sign Of Deeper Trouble?

As XRP continues to trade below $2.10, there's a growing sense of unease. Especially since it appears to be the worst-performing top 20 altcoin in recent days.

While the broader market correction certainly plays a role, the combination of profit-taking, ‘sell-the-news’ dynamics, and whale sell-offs seems to be having a unique impact on XRP's price.

The coming weeks will be crucial in determining whether XRP can stabilize or if further losses are in store. For now, traders and investors are watching closely to see if the token can hold above the critical $2.00 support level—or if another sharp downturn is inevitable.