XRP has taken a major hit, dropping more than 15% and falling below the crucial $2 mark. This sharp decline is part of a broader market correction affecting major cryptocurrencies. Bitcoin has slid below $78,000, and Ethereum is now trading under $1,600 after a 15% crash, hinting that the entire crypto market is under pressure.
Looking at XRP’s price action, the bearish trend has been building for months. According to analyst Josh of Crypto World, the 3-day chart, there’s a clear bearish divergence that’s finally playing out, confirming what many analysts had warned about.
Even short-term bullish signals have been invalidated after the RSI (Relative Strength Index) broke down. This suggests that the positive momentum from a few days ago has faded quickly.
Key support levels for XRP are now at risk
The price is testing the $1.95–$2.05 range, which has been a critical barrier. If XRP closes below $1.95—and especially if it drops under $1.90—things could get worse. This could push XRP toward the $1.40–$1.50 range, meaning another 20–30% drop.
However, all is not lost. The crypto market is known for its volatility, and that creates opportunities for traders. If XRP can quickly regain its footing above the key support zone, it might reverse the downward trend.
Analysts like Egrag Crypto have stated that as long as XRP remains above $2, it is on solid ground. Previously, it was suggested that $2 would mark the FOMO stage and the beginning of a big rally. However, with the price now dipping below that level, it remains uncertain how the market will react.
