XRP Crashes Below $2: What’s Next for the Struggling Crypto?

XRP's price just plunged under the $2 mark—another brutal day for crypto's perpetual underdog. Here's why traders are sweating.

Blood in the Water

The sixth-largest cryptocurrency by market cap can't catch a break, tumbling below key support levels while Bitcoin miners pop champagne. Classic crypto irony: the 'banker's crypto' gets rejected by both Wall Street and degens.

Technical Breakdown

Chartists point to shattered Fibonacci levels and a death cross forming on the 4-hour chart. Meanwhile, perpetual swaps show leveraged longs getting liquidated faster than a Lehman Brothers intern's career.

Regulatory Hangover

Remember when Ripple's legal team high-fived over that partial SEC win? The market's memory lasts about as long as a politician's promise—XRP's price action since then looks like a ski slope.

Bottom Line

Until XRP flips $2 from resistance to support, this is a trader's graveyard. The 'digital asset for institutional use' now trades like a meme coin without the memes. Just another Wednesday in crypto.

The cryptocurrency market continues to struggle, and XRP has taken a brutal hit. In the last 24 hours, the price of XRP has dropped by over 8%, falling below the important $2 mark at the time of writing. The total market cap has dropped to $3.04 trillion, down nearly 5% in the last 24 hours. Cryptocurrencies like Bitcoin have fallen to $99,000, losing over 4%, while Ethereum has slipped by more than 10% to $2,179. Popular altcoins like Solana, BNB, Dogecoin, and Cardano have also registered losses between 4% and 9%. Market sentiment has turned red, with the Fear and Greed Index now at 40.

On the daily price chart, XRP has broken through a crucial support level around $2.07. Experts had been warning that if this level didn’t hold, the price could slide even further — and that’s exactly what has happened.

Now, experts are watching the next important support zone, which sits between $1.92 and $1.95. If XRP continues to fall and breaks below $1.91, the next possible target could be around $1.80 to $1.79, where some past price action and Fibonacci levels suggest support could appear.

In the short-term charts, no strong recovery signals have formed yet. Analysts had been hoping to see signs of a bullish divergence, which would hint at a possible bounce, but no clear confirmation has appeared so far. As a result, the trend for XRP remains bearish, and unless Bitcoin and the broader crypto market improve, XRP may continue facing pressure.

The market remains highly volatile, especially with Bitcoin dominance increasing and global tensions weighing heavily on risk assets like cryptocurrencies. The US Federal Reserve is also under pressure. Analysts also observed that the Fed didn’t cut interest rates recently because of growing instability, and this fresh conflict makes the economic situation even trickier.