Crypto Market Meltdown: XRP’s Shocking 10% Dive as Bitcoin Braces for ‘Banana Peel’ Slip to $42K

Crypto Market in Turmoil: XRP Leads the Losses

The crypto world is shaking. happened on Friday, making it the biggest loser in a wide market sell-off. In just 24 hours, XRP fell below $1.30. This is its lowest point since November 2024. The drop wiped out recent gains and shows how fast prices can change in crypto.

This is not just XRP. Big names like Bitcoin, Ethereum, Solana, Dogecoin, and Cardano all lost value. Sell-off pressure hit hard across the board. Traders are on edge as volatility rules the day.

Peter Brandt’s Dire Bitcoin Warning: The ‘Banana Peel’ Drop

Veteran trader Peter Brandt sounded the alarm. He predicts Bitcoin could drop to $42,000 soon. He calls this a “banana peel” drop. What does that mean? It’s a sudden, slippery fall that catches everyone off guard, like stepping on a banana peel.

Bitcoin is now around $60,074, down from higher levels. Brandt says $42,000 is strong support. That level might stop the bleeding. But if it breaks, more pain could come for the whole market, including XRP.

Ethereum also suffered, hitting $1,748. XRP dropped to $1.13 support. Since Bitcoin often leads, its moves pull altcoins like XRP along.

ETF Flows Tell a Mixed Story

Look at exchange-traded funds (ETFs) for clues. On February 5, U.S. Bitcoin ETFs saw $434 million in net outflows. BlackRock’s IBIT led with $175 million pulled out. Ethereum ETFs lost $80.79 million too.

But not all bad news. Solana spot ETFs gained $2.82 million. XRP ETFs did better with $4.83 million in inflows. This shows some investors still bet on XRP even in tough times. It hints at hidden strength.

• Bitcoin ETFs: Massive outflows signal fear.
• Ethereum ETFs: Continued selling.
• Solana & XRP ETFs: Small inflows show select confidence.

XRP Technical Breakdown: Oversold or More Downside?

XRP sits at key levels now. Immediate downside target is $1.20. If bears push harder, $1.10 could test next. But the Relative Strength Index (RSI) is at 33. That’s near oversold territory. It means selling might slow soon, setting up a bounce.

For bulls, break above $1.40 changes everything. That could spark buying and flip sentiment to positive.

XRP has shown relative stability versus peers. It might recover quicker if Bitcoin holds or rebounds.

Why the Sell-Off? Bigger Picture Insights

Sell-offs like this have reasons. Macro factors play a role: rising interest rates, stock market wobbles, or regulatory news. Crypto ties closer to risk assets now.

Bitcoin’s dominance matters. When BTC corrects, altcoins suffer more. XRP’s link to Ripple and cross-border payments adds unique factors. Ongoing legal wins help long-term, but short-term pain persists.

Peter Brandt’s view adds weight. His track record on charts is solid. A $42K BTC floor would ease pressure. Watch volume too – low volume drops can reverse fast.

What’s Next for XRP and Crypto?

Short-term: Bearish if BTC slips further. XRP could hit $1.10. But RSI oversold and ETF inflows suggest a bottom near.

Medium-term: Recovery possible if BTC finds feet. XRP’s utility in payments gives edge over memes like Dogecoin.

Investor tips:

1. Don’t panic sell. Oversold means potential rebound.
2. Watch BTC $60K hold and XRP $1.20 support.
3. Diversify – ETF inflows show smart money moves.
4. Stay updated on Ripple news for XRP catalysts.

The market is uncertain, but history shows crypto bounces back. is painful, but opportunity hides in chaos. Bitcoin’s ‘Banana Peel’ warning tests nerves, yet $42K support looms as savior.

Final Thoughts

This sell-off tests true believers. XRP holders, stay strong. Broader recovery depends on Bitcoin. Keep eyes on charts, ETFs, and Brandt’s call. Crypto’s volatile ride continues – buckle up.