XRP declined 10.02% on Friday, dropping to $1.1817, its largest single-day percentage fall since February 5. The selloff erased $440 million in unrealized gains for ETF holders, with the token’s market cap falling to $75.3059B.
The token’s price traded between $1.1817 and $1.2226 on Friday, with a 24-hour trading volume of $3.0445B. Over the past seven days, XRP has seen its value drop by 5.93%.
XRP Tests 50-Day EMA Amid Altcoin Rally
On Thursday, XRP had been trading above $1.3100, with buyers pushing the price to test the area near the 50-day Exponential Moving Average (EMA) at $1.3357. The token was part of a broader rally among major altcoins, which was attributed to a sense of relief following the U.S. midterm elections.
The technical outlook for XRP in the short term remains constrained. Despite recent gains, the price is still below both the 50-day EMA at $1.3357 and the 200-day EMA at $1.3580. A key resistance level is identified at $1.2691, with psychological support near $1.0000 should selling pressure intensify again.
XRP Growth Potential Faces Yield Strategy Concerns
Despite the recent downturn, there is a discussion about the potential for XRP to double in value. However, this outlook comes with a note of caution regarding specific yield strategies. Critics question whether low yields from the RLUSD pool will limit the token's growth potential.
Current Market Position
XRP’s current price of $1.1817 represents a 67.67% decline from its all-time high of $3.66, which was reached on July 18, 2025. The token accounts for 2.97% of the total cryptocurrency market capitalization. While momentum indicators like the Moving Average Convergence Divergence (MACD) have shown improvement, with the index crossing above the signal line, and the Relative Strength Index (RSI) moving toward the neutral 50 level, a sustained reversal of the downtrend is not yet confirmed.
