Buy Utility Web3Shot (UW3S)

TL;DR

Some analysts see XRP’s recent price plunge as a golden buying opportunity rather than a reason to panic.

However, a massive 130 million XRP sell-off by whales raises questions about whether the correction is over or if more downside is ahead.

‘Don’t Let Fear Hold You Back’

As reported earlier today (February 3), the cryptocurrency market witnessed a substantial crash. Ripple (XRP), which was at the forefront of gains in the past few months, has joined the club of the biggest losers (on a 24-hour scale).

Its price briefly tanked below $2 for the first time this year before recovering to the current $2.40 (per CoinGecko’s data). This represents a whopping 15% daily decline.

XRP Price, Source: CoinGecko

However, it seems like some pro-XRP analysts remain unfazed by the latest pullback. The popular X user EGRAG CRYPTO successfully predicted the plunge, adding that $1.90 is “the last line of defense.” 

They also opined that the ongoing correction is the perfect “buy the dip” opportunity. “If you’re looking for a dip to buy, this is it. But don’t let fear hold you back,” the analyst stated.

Another person who doubled down on their support toward XRP is the X user JackTheRippler. The enthusiast told their 340,000 followers on the social media platform that they sold their house to accumulate more of Ripple’s native token.

The Opposite Scenario

Contrary to the belief from some industry participants that the asset would soon restore its bullish trend, one important factor signals that the storm might not be over yet. 

As CryptoPotato reported, whales have sold 130 million XPR (worth over $310 million) in the last 24 hours. The actions of those large investors could significantly impact the performance of the cryptocurrency. 

A mass sell-off can create downward pressure on the price, while accumulation can have the opposite effect. After all, a buying spree will reduce the circulating supply of XRP, which, combined with non-declining demand, should have a positive effect on the valuation.

It is worth mentioning that whales scooped billions of tokens at the beginning of January. Several days later, XRP’s price skyrocketed to as high as $3.39, or just 1% away from reaching its all-time high registered seven years ago. 

The post Ripple (XRP) Price Predictions: ‘Buy the Dip’ Opportunity or Further Correction? appeared first on CryptoPotato.

Bitcoin fought its way back from a steep weekend plunge, clawing to $98,000 after touching a brutal three-week low of $91,441. By press time, it had stabilized at $97,730, but the damage was already done—down 6.2% on the day.

Ether has plunged by 25% since Friday and sat at $2,592 at press time. The weekend selloff hit as President Donald Trump signed massive tariffs targeting Mexico, Canada, and China, shaking financial markets across the board. Meanwhile, MicroStrategy, the corporate Bitcoin whale, hit pause on its aggressive BTC acquisition strategy for the first time in three months.

CEO Michael Saylor confirmed that the company did not purchase any Bitcoin last week, saying, “As of February 2, 2025, we hodl 471,107 BTC acquired for approximately $30.4 billion at an average price of $64,511 per Bitcoin.” The sudden break in buying stunned investors who’ve grown used to MicroStrategy pumping Bitcoin weekly like a religion.

Trump’s trade war triggers panic as Bitcoin struggles to recover

The markets reacted to Trump’s announcement instantly. Bitcoin, already under pressure, was sent spiraling. Investors dumped risky assets, and Bitcoin’s crash took down most of the crypto market with it. Almost a quarter of the 100 biggest cryptocurrencies lost 20% or more within 24 hours, according to CoinGecko data.

Bitcoin’s decline comes as frustration builds among traders hoping Trump would have already delivered on his pro-crypto campaign promises. Since winning the election, Bitcoin rallied 40%, driven by optimism that his administration would push through favorable regulations.

But after his January 20 inauguration—where Bitcoin hit a record high of $107,071.86—reality set in. Despite ordering the creation of a crypto working group, Trump hasn’t followed through on anything concrete yet, leaving investors hanging. His so-called executive order didn’t even mention Bitcoin at all.

Meme coins crash as Trump exempt UK from tariffs

The biggest casualties of the weekend bloodbath were actually meme coins, the speculative darlings of the post-election rally. Trump’s own meme coin, Official Trump, launched just two weeks ago, got wrecked. It fell 15% to $17, down from its $73 high during launch weekend.

It already tanked 50% on inauguration day, and now, it’s deep in free-fall mode. Dogecoin and Shiba Inu both fell 14%. Pudgy Penguins lost 13%, while Dogwifhat took a brutal 26% beating. Across the board, meme coins dropped 17% in value within a single day, according to CoinGecko’s data.

Meanwhile, one country has managed to dodge the tariff bullet: the UK. Don’t get too excited, though—Trump still called Britain “out of line” but hinted that things “can be worked out.”

Apparently, Keir Starmer’s charm offensive did something right. Trump called the UK Prime Minister “very nice,” and for now, Britain isn’t on his hit list. No tariffs, no immediate threats.

And then there’s the European Union, which Trump says he plans to also hit with tariffs. Starmer is walking a tightrope, trying to patch things up with Europe, and being Trump’s “nice” ally could make things awkward.

Oh, and let’s not forget that Elon Musk, who is Trump’s best friend, is still holding a grudge against the UK, specifically Prime Minister Starmer, who he hilariously calls “Two Tier Keir” on X over how he blocks British folks rights to free speech.

Cryptopolitan Academy: Are You Making These Web3 Resume Mistakes? - Find Out Here

There’s understandably been a lot of panic surrounding the market volatility and sudden selloffs.

This is not the first time it has happened, and it won’t be the last either. Here are 3 pieces of advice I would like to share with you.

A thread. 🧵