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The price range that served as one of the most important supports for the asset, $2.70, has seen XRP lose its hold after breaking down from a crucial structural level. This breakdown indicates a dramatic change in the mood of the market and exposes XRP to additional drops, possibly reaching much lower levels soon.
Pivoting to $3
XRP had been trading in a descending pattern for weeks, getting repeatedly rejected at trendline resistance between $3.10 and $3.20. Selling momentum accelerated after the price was unable to maintain above the 100-day EMA, which had acted as a pivot point at $2.88.
With the loss of $2.70, bears are now clearly in control, and the 200-day EMA, which is located at about $2.60, is the next significant target. This level is more than just a technical checkpoint, it is XRP’s final safe haven before more significant corrections can occur. A clear break below $2.60 would probably set off a chain reaction that would expose XRP to downside risks toward the historical accumulation and demand zone of $2.00-$2.30.
Momentum shifting
Momentum indicators validate the shift toward bearishness. While XRP is under a lot of pressure, a short-term bounce is not completely out of the question, as indicated by the RSI, which is at 37 and just above oversold territory. But as trading volume increased during the breakdown, it seems that conviction — rather than sloppy selling — is driving the move.
XRP’s future course will be determined by its actions in the $2.60-$2.70 range. The asset may try another rebound toward $2.90-$3.00, stabilizing sentiment if bulls are able to swiftly regain this area. However, sustained weakness is likely to push the price closer to $2, where buyers might search for new entry points.
XRP’s most crucial short-term support at $2.70 has been lost, and the focus is now on $2.60 as a last resort. The market should expect XRP to return to the $2 range, which could reshape the asset’s medium-term trajectory unless buyers respond strongly.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team