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After breaking below its short-term ascending trendline, Ripple’s XRP has entered a risky phase. This move suggests renewed bearish control and could push the asset toward the crucial $2.00 support, or even lower.
XRP tumbles rapidly
As of press time, XRP is trading close to $2.40, down nearly 5% for the day. This confirms that buyers are losing steam and continues a run of rejections from the 200-day moving average. The recent trendline break renders invalid the brittle recovery pattern that developed following the crash in October.
Without this structure, XRP’s chart appears more vulnerable now, with no solid support areas between the current level and $2.00. A bleak picture is painted by the moving averages. Convergence between the 100-day (blue) and 200-day (black) lines suggests a potential death cross formation — a bearish signal that, if verified, could quicken downside pressure.
No volume present
There is little sign of a short-term recovery as the RSI close to 41 also shows growing weakness. Likewise, the volume is muted. It appears that bulls are stepping aside rather than defending important levels because there has not been any discernible spike in trading activity despite the recent decline.
If selling pressure increases over the next few days, XRP may easily drop to $2.10-$2.00, where psychological support may provide a brief reprieve. However, there are not any historical buying zones beyond that. XRP will continue to follow the path of least resistance downward unless it is able to recover and hold above $2.55.
A steeper sell-off is possible due to the asset’s current structure, particularly if Bitcoin volatility increases or market sentiment declines. XRP’s inability to maintain its rising trendline, in summary, signifies a critical breakdown; if momentum does not change soon, the $2 mark may be the next stop in this developing correction.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team