Advertisement
AD

Main navigation

Advertisement
AD

XRP to Lose $2 in 24 Hours?

Wed, 2/04/2025 - 8:50
XRP might lose one of most important market levels
Advertisement
XRP to Lose $2 in 24 Hours?
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

XRP is on thin ice while moving around $2.07, down around 3% for the day once again and clearly facing some issues that might trigger a move below $2. The downward volume is also moving up, which means that bears are ready to increase the selling pressure on the market and push XRP even lower.

Advertisement

Technically speaking, since the early 2025 peak, XRP has been trading inside a long descending channel, with lower highs and lower lows consistently forming. The 50 and 100 EMAs, which are currently acting as resistance, have already seen a decline in value. The 200 EMA, which is located close to $1.94-$1.95 and represents a significant horizontal support zone from January, is the only discernible cushion that is left for XRP. The current price action, however, indicates that this level is being besieged. 

Article image
XRP/USDT Chart by TradingView

The $2 area has been tested repeatedly with no discernible bounce, pointing to buyer exhaustion. On the other hand, the rising volume of red candles indicates that the market is being taken over by sellers. This is not merely a standard correction; rather, it poses a structural risk to the short-term bullish argument for XRP. With the Relative Strength Index (RSI) at about 38, XRP is in a weak momentum zone. 

The lack of strength indicates that a relief rally may be difficult to come by unless significant buying volume intervenes, even though it is not yet in oversold territory. The $1.94 zone will become the last line of defense if XRP loses the $2 psychological level.

Advertisement

A breakdown below this might pave the way for a more significant correction, perhaps heading as low as $1.70 in a bearish scenario. If a significant reversal does not happen right away, XRP may be headed for a 24-hour decline below $2 as trader confidence wanes.

Advertisement
Subscribe to daily newsletter

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD