XRP Hits 70% Low: Can It Rebound to $2-$5?

XRP has been steadily declining this year, dropping by nearly 40% in total. The price has steadied somewhat over the past month, with a gain of just 1.3%. However, XRP's current level is reminiscent of November 2024, when it briefly crossed $1.12 on its way up.

The last time XRP traded near this level was during a period of crypto-friendly speculation following Donald Trump's election win. The price more than doubled to $2.52 over the next three weeks and continued climbing until July 2025, peaking at $3.65.

However, instead of rising, XRP has been steadily declining all year. The decline began with a crash in October last year, triggered by Trump's announcement of 100% tariffs on Chinese imports. This led to the largest liquidation event in crypto history, wiping $19 billion off the market and causing XRP to fall.

Despite the bleak outlook, some signs suggest that XRP may be near a bottom. Market indicators such as coins leaving exchanges and leverage collapsing suggest that sellers have run out of steam. Additionally, XRP whales (holders with 100,000-100 million XRP) have been buying steadily, adding around $670 million in value over five weeks.

However, none of these signs necessarily mean that demand for XRP will return. The CLARITY Act, which would define XRP as a digital commodity and give institutions confidence to buy, is still far from certain. Its passage would likely be the key factor in determining how high XRP's price could go.