Prices have been moving fast in the cryptocurrency market on February 25, with hundreds of millions of dollars erased in a bloodbath that has taken Bitcoin (BTC) below $89,000 for the first time since November and Ethereum (ETH) below $2,400 for the first time since October. XRP, one of the most prominent tokens in the world, in no small part thanks to Ripple Labs’ long legal battle with the SEC, has not been spared either and has plunged a total of 18.50% in the last 7 days to its press time price of $2.11. Furthermore, having lost its previous and critical support level near $2.30, XRP now appears poised for an even greater crash, and a prominent on-chain analyst, Ali Martinez, is now predicting a fall to lows not seen since the early days of the Donald Trump re-election rally. Is XRP set for a massive crash? Specifically, in an X post posted in the small hours of February 25, Martinez explained that XRP is breaking out of its previously established ascending parallel channel. According to the expert, the token is now targeting $1.65, meaning that a further 22% downside is likely ahead. Additionally, a lack of a clear reason behind the bloodbath also makes gauging its eventual impact difficult, though it appears likely the causes were, once again, external. Specifically, the start of the downturn coincided with President Donald Trump’s confirmation that his planned tariffs against Mexico and Canada would be implemented after the postponement period elapses. The situation is akin to other recent examples of digital assets having a violent reaction to seemingly unrelated events. The cryptocurrency market experienced a major wipe during the Silicon Valley plunge in the wake of DeepSeek artificial intelligence’s (AI) release in late January. Similarly, Operation True Promise 2, Iran’s October missile attack against Israel, triggered a strong Bitcoin price drop. Still, the fact external and seemingly unrelated events have an outsized impact on cryptocurrencies is, perhaps, not surprising. Historically, digital assets have had positive reactions to, equally apparently, unconnected happenings. The great rally of 2024 and 2025 was, after all, driven primarily by Donald Trump’s re-election. Featured image via Shutterstock