Red alert: XRP price loses key support and forms a death cross

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

XRP price tanked on Monday as the cryptocurrency sell-off gained steam, and technicals point to a crash to $1 and below.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

XRP, the cross-border-focused token, dropped to a low of $1.6185, its lowest level since November last year. The coin fell because of the ongoing cryptocurrency crash that was triggered by Donald Trump’s Liberation Day tariff speech.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Goldman Sachs analysts raised their recession odds to 45%. Similarly, experts from JPMorgan, Wells Fargo, and Citi have warned of a sustained economic slowdown unless Trump changes course on tariffs. On the positive side, a recession could act as a bullish catalyst for cryptocurrencies and other risk assets by pushing the Federal Reserve to cut interest rates.