XRP fell 4.5% over the past 24 hours, dropping from $2.254 to $2.164 as sellers overwhelmed buyers and forced a breakdown below key support levels. The token now faces increasing pressure at the $2.20 resistance level, with technical indicators showing a sustained downtrend that has yet to reverse.
News Background
- XRP has come under intensified selling pressure amid rising macroeconomic uncertainty.
- Ongoing U.S.-China trade friction, mixed central bank policy signals, and the fallout from recent ETF rejections have soured sentiment across risk assets.
- At the same time, traders are closely watching Ripple’s upcoming RLUSD stablecoin deployment and regional regulatory milestones in Dubai and Singapore — two markets where Ripple’s infrastructure continues to expand.
- Still, none of these developments have provided near-term lift, with XRP now down nearly 9% for the week.
- Market observers point to a descending channel forming on the hourly chart — a bearish continuation signal — as volume surged during key resistance tests.
- Unless buyers can reclaim the $2.20 level, analysts warn that price action could break further toward the $2.10 zone.
Price Action
The sharpest pressure came during the 15:00–16:00 hour, when volume more than doubled the daily average, cementing resistance around $2.19. A brief recovery attempt later in the session pushed XRP to $2.179, but sellers quickly regained control.
A final high-volume drop at 02:01 pushed the price down to $2.162, confirming a lower low and continuing the downtrend. Support has formed around $2.147, with XRP trading in a narrow range near $2.164 as volatility begins to subside.
Technical Analysis Recap
- XRP declined from $2.254 to $2.164, a 4.5% drop.
- High-volume resistance zone formed around $2.19 during peak activity at 15:00–16:00.
- Support identified at $2.147 where buyers stepped in repeatedly.
- Short-lived recovery reached $2.179 before being rejected.
- Volume spike at 02:01 coincided with 0.8% price drop to $2.162.
- Immediate resistance now at $2.175; descending channel pattern signals continued bearish pressure.
- Selling volume has tapered off, suggesting possible stabilization in the near term.
Disclaimer: Portions of this article were generated with the assistance of AI tools and reviewed by CoinDesk’s editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.