XRP Suffers 10% Decline Amidst Bear Pressure Across Crypto Market

• XRP price witnessed a 10% price dip today, falling below the $3 mark. 
• Bitcoin price briefly fell below $100,000 while major altcoins are dumping. 
• Crypto experts are bullish on XRP, estimating another price rally. 

XRP price declined over 10% today and fell below the $3 mark it surpassed earlier this month. Meanwhile, several other altcoins and Bitcoin are also witnessing price declines amidst bear pressure. While Bitcoin briefly fell below $100,000, altcoins such as Ether, Solana, XRP, Cardano, Dogecoin, Chainlink, and Tron are facing deep price dips. 

XRP price declined by more than 10% today. During early Asian hours, the token was trading at around the $3.13 price level and then deeply plunged to as low as $2.71. However, the XRP token is currently trading at $2.91, with over 6% price dip in the last 24 hours. 

Even though the market cap declined by more than 6% and is hovering above the $167 billion level, the trading volume is surging. A staggering 300% increase in its 24-hour trading volume is indicating a price increase. While the token price has declined sharply, its trading volume is telling another story. 

Experts Remain Bullish on XRP

Even though XRP witnessed a steep decline of over 10% today, several market experts remain bullish on XRP. Renowned crypto market analyst Ali Martinez posted on X earlier today, demonstrating Bollinger Bands technical indicator on the XRP price chart. He further emphasized that a significant price surge is on the horizon for XRP. 

Another popular crypto expert BitBoy posted on his official X account recently saying,

“XRP has never sustained these prices before. Not a bad time to buy as it forms new support lines above $3.”

Even though the XRP fell below the support level at $3, it remains true that it’s been years since XRP witnessed sustained price surges. Nonetheless, XRP is set to witness another price surge with new favorable crypto regulations forming in the US.