XRP Price Under Siege – Fresh Plunge Sparks Fears of Prolonged Downtrend

XRP bulls are scrambling as another sharp decline rattles investor confidence. The digital asset faces mounting pressure that could signal deeper troubles ahead.

Technical Breakdown

Support levels crumbled faster than a decentralized promise during a bull run. The latest dip pushes XRP dangerously close to critical thresholds that haven't been tested since the last regulatory showdown.

Market Sentiment Shifts

Traders are watching volume patterns like hawkish regulators watching an unregistered ICO. The usual buy-the-dip crowd seems hesitant—either waiting for clearer signals or just tired of the volatility.

Institutional Perspective

While retail investors panic, major players might see this as another buying opportunity. Because nothing says 'smart money' like doubling down on assets that just bled 15% in a week.

The road ahead looks bumpy, but then again—when has crypto ever taken the smooth path? Sometimes the market needs to shake out weak hands before making its next move. Just ask anyone who sold Bitcoin at $3,000.

XRP Price Dips Below Support

XRP price attempted a recovery wave above the $2.90 level, beating Bitcoin and Ethereum. The price was able to surpass the $2.90 and $2.92 resistance levels before the bears appeared.

A high was formed at $2.995 and the price started a fresh decline. There was a drop below the $2.90 support. Besides, there was a break below a connecting bullish trend line with support at $2.850 on the hourly chart of the XRP/USD pair.

A low was formed at $2.724 and the price is now consolidating below the 23.6% Fib retracement level of the recent decline from the $2.995 swing high to the $2.724 low.

The price is now trading below $2.850 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance NEAR the $2.788 level. The first major resistance is near the $2.850 level and the 50% Fib retracement level of the recent decline from the $2.995 swing high to the $2.724 low.

A clear MOVE above the $2.850 resistance might send the price toward the $2.920 resistance. Any more gains might send the price toward the $2.950 resistance. The next major hurdle for the bulls might be near $3.00.

Another Decline?

If XRP fails to clear the $2.850 resistance zone, it could continue to move down. Initial support on the downside is near the $2.720 level. The next major support is near the $2.680 level.

If there is a downside break and a close below the $2.680 level, the price might continue to decline toward $2.6150. The next major support sits near the $2.60 zone, below which the price could gain bearish momentum.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $2.720 and $2.680.

Major Resistance Levels – $2.850 and $2.920.