What Does the Sharp Drop in XRP Mean? Is the Possibility of a New ATH Over? Celebrity Explains!

XRP, one of the altcoins that benefited most from the victory of US President Donald Trump, made a big move in the latest rise.

At this point, XRP has surpassed $3.6, reaching a new ATH, while experiencing a 10% drop in the last 24 hours.

While this decline has made investors nervous, the Bitpanda executive said that XRP could reach a new record high despite its recent decline.

Lukas Enzersdorfer-Konrad, deputy CEO of European cryptocurrency platform Bitpanda, said that Ripple (XRP) is likely to reach a new record high despite experiencing a nearly 10% drop in the last 24 hours.

The Bitpanda executive noted that it is difficult to pinpoint exactly where XRP is heading, but it is not impossible for the price to break above new ATHs.

“While it’s difficult to pinpoint exact levels in such a fast-moving market, if market conditions remain favorable and capital flows continue to flow from Bitcoin to altcoins, a break above the current record high wouldn’t be surprising.”

The Bitpanda executive stated that there is no clear catalyst that would make XRP outperform on its own, saying that XRP reaching new ATHs will likely depend on the overall altcoin market.

“XRP’s short-term price trend will depend on whether the current bullish momentum in the altcoin market continues, as XRP tends to be quite sensitive to overall altcoin sentiment and regulatory rhetoric.”

*This is not investment advice.