XRP Price Drops 14% as Ripple CTO David Schwartz Reacts to Jim Cramer’s ‘Black Monday’ Forecast

Highlights:

• XRP price has plunged 14% to $1.77 as the crypto market rashes.
• Despite the plunge, the trading volume has spiked over 400%, indicating heightened investor confidence. 
• Ripple CTO David Schwartz has reacted to Jim Cramer’s crypto ‘Black Monday’ forecast.

The XRP price has dwindled like a dead weight in the air, decreasing 14% to $1.77 in the past 24 hours. Despite the drop, its daily trading volume has spiked over 400%, indicating heightened market activity. The crypto market is facing a significant correction, with $1.33 billion in liquidations in just one day, triggered by rising U.S.-China trade tensions and the impact of the newly imposed tariffs. 

Meanwhile, the crypto community thinks there will be a crypto market crash, and TV host Jim Cramer has made the most critical outlook. Other financial experts joined Ripple’s CTO David Schwartz to reassure Cramer of his concerns about the forthcoming major crypto market crash forecasted in “Black Monday.” 

Finally some good news. https://t.co/E1vcqFJ60j

— David "JoelKatz" Schwartz (@JoelKatz) April 7, 2025

As Schwartz explains, ”Ripple also admits to the regular market risks that cryptocurrencies face but continues to work on solving real-world pains, such as cross-border payments.” Temporary fluctuations notwithstanding, the XRP price will significantly influence the financial market’s structure. 

XRP Price Outlook

The XRP price has broken the key support level at $2, dwindling 13% to $1.77 in the past 24 hours. The XRP price is down 15% in the past 7 days and 23% in the past month. The cross-border payment token has notably plunged below the falling wedge pattern, indicating heightened selling activity. Moreover, the XRP price is struggling below key moving averages, painting the bigger picture as bearish. 

A quick look at the XRP 1-day chart timeframe shows that XRP has recorded a range of $1.56 low to $2.13 high. This comes as the crypto Black Monday triggered panic sell-offs in various cryptocurrencies, including XRP. The altcoin has been down about 45% since its ATH of $3.40, as recorded on January 07, 2018. Meanwhile, with the Trump tariffs in full force, triggering a recession in the market, can the XRP price recover?

Can XRP Rebound Above $2?

With current market conditions, the crypto sentiment is bearish. A zoomed-out view of the technical indicators shows a prevailing bearish sentiment. The RSI is currently at 31.24, showing oversold conditions. However, this may trigger a buy-back campaign, which could lead to XRP price recovery.

In such a case, with the XRP price undervalued, a buy-back strategy could cause a bullish reversal targeting the $2.04 resistance. A decisive break above this level could call the bulls to rally toward the next immediate resistance key at $1.84. Increased buying appetite may see XRP price rally toward $2.32, $2.49, and 2.75, respectively. 

On the downside, the MACD indicator upholds a bearish outlook, manifested by the blue MACD line flipping below the orange signal line. A deeper correction is likely if traders and investors keep selling their XRP, manifested by the MACD.

In such a case, if the $1.75 support level breaks, the XRP price would retrace toward $1.58, $1.32, and $1.22. In the meantime, traders should pay close attention to the support level at $1.75 to determine the next move in the XRP market.