The price of XRP has fallen to around $2.26, marking a decline of 6.9% in the past 24 hours. The drop comes as the broader crypto market faces heavy selling pressure, with total liquidations surpassing $1.2 billion in the past day. Of that, XRP alone saw approximately $27 million in forced position closures.
After briefly testing levels above $2.60 earlier this week, XRP has now fallen back towards a key support zone.
The bearish momentum continues on the weekly chart
On the weekly time frame, XRP continues to do so showing signs of a bearish divergence, a pattern that began to form in late July. Despite occasional attempts at recovery, the overall momentum has weakened. The pattern remains active, indicating that the downward pressure has not yet been fully exhausted.
XRP’s structure over the past few weeks has shown a gradual formation of lower highs and lower lows, generally showing that market strength is still waning. Until a clear reversal pattern emerges, the broader outlook remains focused on a potentially longer pullback.
Resistance and support zones
On the daily chart, XRP has failed to break above the $2.63 to $2.70 range, an area that served as both a prior high and a 50% Fibonacci retracement level. This zone continues to act as strong resistance.
The price is now hovering around a key support area between USD 2.30 and USD 2.40. Staying above this area is critical. If XRP closes below $2.30, the next potential support levels are seen around $2.05 and then $1.80, aligning with previous consolidation zones from mid-year.
If momentum improves and the price stabilizes above current levels, the next upside targets would be $2.67, $2.88, and $3.10. A stronger move beyond these points could shift sentiment back in favor of a recovery.
A short-term bounce is still possible
Despite the ongoing correction, near-term rebounds are still possible as XRP approaches support. These temporary moves often occur when the market tests large zones, allowing prices to stabilize before choosing a new direction.
However, such upswings are best viewed as short-term reactions rather than signs of a complete reversal. The broader structure continues to reflect weakness, and a convincing recovery would require XRP to move firmly above the $2.70 resistance level.
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