XRP Price Nears Critical Support: Is a Drop Below $2 Imminent?

Key Insights

• XRP price declines, testing crucial $2 support amid market weakness.
• Bearish momentum grows as XRP struggles to hold the support line.
• Crypto market downturn reinforces selling pressure across major altcoins.

XRP price has seen a notable decline over the past 24 hours, continuing its bearish trajectory. Currently, XRP is trading close to a crucial support level near $2.00, raising concerns of a further drop below this mark. The cryptocurrency fell from a recent high of $2.30 and has recorded a 6% decrease over the past week, highlighting consistent downward momentum.

The movement of the Ripple price in the past three days shows a sideways motion, that shows a high-level indecisiveness between the buyers and sellers. The action of price over 24-hours was also tight with a range of $2.01 and $2.10. This suggestive range-movement indicates that the market players are not yet willing to take any commitment in a chaotic uncertainty.

Regardless of the bear pressure, the early signs of stability can be observed around the level of 2.00 dollars. Market capitalization in XRP price is held up by $120 billion and a 24-hour trading volume of $3.02 billion, indicating that investors are still interested in it.

The overall crypto market is also experiencing weakness as the price of Bitcoin has fallen under a support of about $104,000, and the price of Ethereum is just near about $2,200. Such trends also indicate a fearful market environment.

XRP may suffer further losses in case it does not maintain its present support. Any positivity in this however might trigger a temporary recovery.

Crypto analyst Egragg confirms XRP Price key level

Crypto analyst Egragg has confirmed that the Ripple price has successfully retested the $2.08 level, a critical zone highlighted in his earlier projections. Referring to an update from June 13, he previously forecasted this level and expected a retest within a marked price box.

Analyst now emphasizes that the XRP price next directional move hinges on its ability to break above the $2.08 resistance. A failure to move past this threshold may trigger another dip toward $1.90, which would represent a retest of the lower boundary within the defined range.

However, there’s optimism for bullish momentum. According to the analyst, if the XRP price secures a solid close above $2.08, especially within the next 12 hours, it may indicate strong buyer interest. Such a move, combined with confirmations on both daily and higher timeframe candles, could confirm aggressive bullish behavior.

Egragg also reiterated the key breakout areas that remain intact. The narrow trading zone is between $2.30 and $2.33, while the broader macro breakout level is $2.65. He refers to this level as the “GO-GO” signal, indicating a potentially strong upward breakout if surpassed.

Traders are now watching XRP closely to see if it can maintain momentum above $2.08, which could define the next phase of its market trend.

Ripple Price Struggles as Bearish Pressure Intensifies

At the time of writing, the XRP price is trading at $2.0384, marking a decrease of 1.48% in the last session.

Technical indicators further confirm the weakening momentum. The MACD line remains below the signal line and zero level, showing negative momentum.

The histogram continues to print red bars, reflecting ongoing bearish sentiment among market participants.

Additionally, the Relative Strength Index (RSI) currently reads 29, signaling that XRP is in oversold territory.

The 4-hour chart shows XRP trending downward, with sellers maintaining pressure near the $2.03 mark.

Price action has consistently formed lower highs and lower lows, indicating a bearish structure. The next key support zones are seen at $1.90 and $1.80, while resistance levels stand at $2.30 and $2.50 if any bullish momentum returns.