Widely followed crypto trader Wealth Manager (@Wealthmanager on X) has sparked fresh concern in the XRP community by publicly announcing a bearish position on the asset.
This comes as the price of XRP continues to revisit new lows last seen in 2024. Specifically, XRP has dipped 14.22% today, touching $1.30. The last time XRP traded at this level was in November 2024.
Key Points
Holding XRP? “You Should Be Worried”
The comment gained traction as XRP continues to struggle below key price levels following a market-wide pullback. Notably, Bitcoin has dipped more than 8.5% today to $69,555, dragging the broader crypto market lower.
XRP is among the largest-cap assets posting the steepest losses, down roughly 14% today alone and extending its weekly decline to 27%. Meanwhile, some market analysts believe the worst may still lie ahead, even though XRP is already down over 61% from its 2025 peak.
XRP charts## Wealth Manager Confirms Active XRP Short Position
To support the claim, he shared a screenshot of his perpetual futures position showing:
- Position size: 100,000 XRP
- Margin: approximately $50,733 USDT
- Entry price: $1.522
- Market price at the time: around $1.508
- Unrealized profit: over $1,300
- Leverage: 3×
The trade signals a strong conviction that XRP’s current market structure remains weak as the price continues to trend lower from recent highs.
Chart Points to Deeper Downside Risk
The chart shared by the trader highlights XRP’s reversal from its peak near $3.66. From that level, XRP has already recorded a sharp decline, with the chart projecting the possibility of further downside if key support levels fail.
Based on the technical setup, the highlighted move suggests a potential drop of more than 60% from current levels. This places XRP’s price in the $0.47–$0.50 range.
While XRP still maintains strong community support and long-term adoption prospects, short-term sentiment is turning cautious. A public short position from a well-followed trader has added to market uncertainty.
New Accumulation Zones for XRP
Notably, this bearish outlook is shared by other market participants. Analyst Crypto Patel says XRP has entered its first accumulation zone between $1.50 and $1.30—an area that has historically attracted buyers. He advises slow, gradual accumulation rather than rushing in, noting that market bottoms often take time to form.
If XRP falls below $1.30, Patel believes a deeper decline toward the $0.90–$0.70 range could present an even better long-term opportunity.
Despite the near-term weakness, Patel still sees XRP reaching double-digit prices over the long term, with a potential move toward $10 once the bearish phase fully plays out. He argues that buying during deep pullbacks offers a better risk-reward profile than chasing prices near market highs.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Retail investors are not trading cryptocurrencies but stocks? Cryptocurrency market liquidity is moving to the US stock market, AI helps interpret financial reports and boosts confidence
Wintermute's research indicates that retail cryptocurrency funds are flowing heavily into the US stock market, reversing the correlation to become negatively correlated. As liquidity in the crypto market declines, retail investors prefer mature stock markets, aided by generative AI enhancing their investment capabilities. Cryptocurrencies are gradually becoming part of asset allocation.
CryptoCity56m ago
ETH drops 1.36% in 15 minutes: Deteriorating macro sentiment and liquidity crunch trigger spot selling pressure
From 02:45 to 03:00 on March 8, 2026 (UTC), ETH prices fluctuated sharply within the range of 1,936.0 to 1,969.18 USDT. The 15-minute candlestick yield was -1.36%, with an amplitude of 1.68%. The short-term downtrend intensified, market attention significantly increased, trading activity was high, and panic sentiment dominated.
The main driver of this anomaly was the widespread decline in global risk assets and escalating extreme panic sentiment. Major US stock indices experienced a sharp pullback, and the VIX fear index soared to 29.49 (+24.17%), leading to
GateNews2h ago
BTC drops 0.71% in 15 minutes: Weak macro data and miner sell-off resonate, increasing selling pressure
2026-03-08 02:45 to 03:00 (UTC), Bitcoin (BTC) price candlestick data shows a 15-minute return of -0.71%, with the lowest at 66,837.0 USDT and the highest at 67,402.7 USDT, with an amplitude of 0.84%. Short-term volatility has attracted market attention, with on-chain risk signals rising to 0.84, above the historical average, indicating cautious investor sentiment and increased market fluctuations.
The main driver of this anomaly is the US February employment data, which significantly underperformed expectations, with a sharp decrease in new jobs and the unemployment rate rising to 4.4%, combined with the US
GateNews2h ago
The US-Iran conflict enters the second phase: Trump emphasizes "no ground action for now," airstrikes have destroyed over 3,000 targets, Bitcoin drops to 67,000.
Trump stated that the U.S. military currently has no plans to deploy ground troops, mainly conducting airstrikes, and has destroyed over 3,000 Iranian military targets. Market risk aversion has increased, with Bitcoin dropping to $67,000. The fighting continues between both sides, and Iran has vowed to retaliate.
動區BlockTempo3h ago
PEPE faces volatility risk as the threat of a "short squeeze" increases
The memecoin market is experiencing a significant downturn as the total industry capitalization has dropped by 48% over the past year and declined another 6.9% in the most recent month, according to data from CoinMarketCap. Meanwhile, a report from Glassnode indicates that this sector has only grown modestly by 2.2% in the past t
TapChiBitcoin3h ago
