XRP News Today: Price Slides Toward $2 as US Recession Fears Mount; BTC at Sub-$80k

XRP Slides Toward $2 as US Recession Fears Grow

XRP extended its losing streak to four sessions on Monday, March 10, as US recession fears sent global markets reeling. The broader crypto market tracked the Nasdaq Composite Index, which fell 4%. Meanwhile, President Trump’s tariff and crypto policies have also triggered a flight to safety.

Trump’s Executive Order, establishing a national Strategic Bitcoin Reserve (SBR), kickstarted the crypto market sell-off. On Sunday, March 9, Trump added to the market angst, saying he could not rule out a tariff-triggered US recession.

XRP and the broader market remained under pressure despite a significant shift in the SEC’s stance on US digital assets.

Can the SEC Shift Market Sentiment?

While XRP faces heavy selling pressure, the SEC’s upcoming March 13 Closed Meeting could change the narrative. Markets are awaiting the SEC’s appeal strategy after challenging the Programmatic Sales of XRP ruling in the Ripple case. The SEC’s ongoing silence has exposed XRP to broader market trends, contributing to the sharp pullback from January’s high of $3.3999.

Nevertheless, after dismissing the lawsuits against Coinbase (COIN) and Kraken, the SEC could withdraw its appeal at any time. The March 13 Closed Meeting will give Acting Chair Mark Uyeda and Commissioner Hester Peirce, head of the new Crypto Task Force, the forum to discuss and potentially vote on the Ripple case.

Significantly, a withdrawal could cause XRP to decouple from broader market trends. Investor focus would likely shift to XRP adoption through Ripple’s expansion plans and the prospects of a US XRP-spot ETF.

XRP Price Trends: SEC Appeal Strategy Crucial for Buyer Demand

On Monday, March 10, XRP fell 5.33%, following Sunday’s 8.22% plunge, to close at $2.0214. XRP continued to underperform the broader crypto market, which dropped 3.44% to a total market cap of $2.52 trillion.

Uncertainty surrounding the SEC’s appeal strategy, Trump’s SBR Executive Order, and fears of a US recession remain XRP headwinds. Key factors influencing XRP’s price outlook include:

• US Strategic Reserve Asset: A push for a multi-crypto reserve could improve market sentiment.
• SEC Appeal Strategy: If the SEC drops its appeal, XRP could surge past its all-time high of $3.55. However, prolonged legal uncertainty might drag prices below $1.50.
• XRP-Spot ETF Developments: Approval of an XRP-spot ETF could trigger institutional inflows, potentially lifting prices toward $5. However, an ongoing SEC appeal could dampen approval prospects.
• Macro Risks: Trade tensions and weak US economic data could push XRP toward the February low of $1.7938. On the other hand, easing trade tensions and strong economic data could support a recovery toward $2.50.

Read expert analysis on what could drive XRP to new highs here.

Bitcoin Tumbles Below $80k Amid Flight to Safety

On March 10, BTC dropped below $80k for only the second time since Trump’s election victory-fueled rally to an Inauguration Day record high of $109,231.

Disappointment over Trump’s SBR Executive Order and concerns about a US recession impacted BTC demand, the crypto market’s bellwether.

Santiment, a crypto market intelligence platform, analyzed market sentiment, stating:

“Social media is showing a massive level of fear, with Bitcoin being associated with sub-$70K levels at the highest rate since the Feb. 27 crash. The true capitulation point (and optimal buy spot) will be when low prices ($50K-$69K) are being predicted across social media with very little mention of high prices ($100K-$119K).”

However, despite the market gloom, Santiment offered some optimism, saying:

“But since March 3, wallets with 10+ $BTC have accumulated nearly 5,000 Bitcoin back into their collective wallets. Prices have not reacted to their buying just yet, but don’t be surprised if the 2nd half of March turns out much better than the bloodbath we’ve seen since Bitcoin’s ATH 7 weeks ago… assuming these large key stakeholders continue their coin collecting.”

US BTC-Spot ETF Market Outflows Weigh on BTC Price Trends

The US BTC-spot ETF market recorded net outflows of $739.2 million in the week ending March 7, extending its losing streak to four weeks. On March 10, BTC-spot ETF issuers faced another day of net outflows.

According to Farside Investors:

• Fidelity Wise Origin Bitcoin Fund (FBTC) had net outflows of $134 million.
• Grayscale Bitcoin Trust (GBTC) saw net outflows of $20.6 million.

Excluding flow data for iShares Bitcoin Trust (IBIT), the US BTC-spot ETF market recorded $175 million in net outflows.

Julio Moreno, Head of Research at CryptoQuant.com, commented on institutional demand, stating:

“US spot ETFs are now net sellers of Bitcoin so far this year. At this point last year they had purchased net 165K Bitcoin.”

BTC-spot ETF flows play a crucial role in Bitcoin’s supply-demand balance, influencing its price trajectory.

Bitcoin Price Scenarios: Key Levels to Watch

On March 10, BTC slid by 2.62%, following Sunday’s 6.41% tumble, closing at $78,620. US tariff-triggered recession fears weighed on institutional and retail demand, leaving BTC at sub-$80k for the first time since November 9.

Potential price scenarios:

• Bearish: Rising trade tensions, opposition to the Bitcoin Act, and continued BTC-spot ETF outflows could pull BTC toward $70,000.
• Bullish: Easing trade tensions, growing lawmaker support for the Bitcoin Act, and renewed ETF inflows could push BTC toward $109,312.

Market Outlook: Catalysts Driving Crypto Trends

Several macro and regulatory factors will shape crypto market sentiment in the coming weeks:

• SEC Appeal Decision: An SEC withdrawal from the Ripple appeal could spark a broad crypto rally.
• US Tariff Policy & Inflation: Higher tariffs could delay Fed rate cuts and intensify recession fears, impacting risk appetite.
• US Economic Data: Key inflation reports will influence Fed policy and crypto volatility.
• Strategic BTC Reserve: Further progress toward a national SBR could boost institutional adoption.
• BTC-Spot ETF Flows: Institutional demand remains a major driver of BTC price trends.

An SEC withdrawal from the Ripple appeal could trigger a bullish move for XRP and the broader market. However, sustained institutional confidence will still depend on broader US regulatory clarity.

Stay updated with our latest insights here.