- XRP has dropped 16% in 24 hours, breaking the $2.50 support level.
- Bearish momentum suggests a possible 20.2% decline, targeting $1.70 next.
- RSI and MACD indicators confirm increasing selling pressure and weak momentum.
According to a recent review from top analysts, XRP has sharply declined, falling 16% in 24 hours to $2.07 amid heavy selling pressure across the crypto market. The sharp drop follows last Friday’s Bybit hack, which triggered panic among traders. Bitcoin (BTC) has also suffered, falling 8.3%, dragging the total crypto market cap down 2.6% to $3.1 trillion. XRP’s trading volume has surged 187.4%, highlighting increased sell-offs. Analysts now warn of more downside, with XRP losing key support levels that could accelerate its decline.
XRP Faces Key Support Levels
The loss of $2.50 support has erased XRP’s yearly gains. Despite this, XRP remains the top-performing asset among the ten largest cryptocurrencies. The token is now approaching critical support between $1.70 and $2.00.
CoinGlass data shows that $57.6 million in XRP long positions have been liquidated in the last 24 hours. Meanwhile, BTC has seen $609 million in liquidations, signaling widespread market weakness. If the bearish trend continues, XRP could see a 20.2% decline, bringing the price toward $1.70 or lower.
Bearish Indicators Point to Further Losses
XRP’s technical indicators suggest more downside ahead. The Relative Strength Index (RSI) has fallen below its signal line, confirming strong selling pressure. Additionally, the MACD histogram signals growing negative momentum, suggesting the bearish trend could continue.
Ali Martinez, a well-known on-chain analyst, has warned that XRP has broken out of an ascending parallel channel. With the $2.30 support level gone, he predicts XRP could drop another 22%, putting the next target at $1.65.
Despite the bearish outlook, buyers may step in at $2.00 and $1.85, where accumulation has occurred in the past. However, continued market weakness could push XRP toward $1.65, its lowest level since early 2024.
Macroeconomic Factors Weigh on Market Sentiment
According to Yahoo Finance, crypto markets have lost $100 billion in value over the past 24 hours. The downturn coincided with Donald Trump’s confirmation of upcoming tariffs on Mexico and Canada, adding uncertainty to global markets.
Historically, cryptocurrencies have reacted strongly to macro events. Recent examples include Iran’s missile attack against Israel in October and the DeepSeek AI launch sell-off in January. Analysts believe these external factors are increasing market volatility.
XRP’s Downside Risks Continue to Grow
Compared to Bitcoin’s liquidations, XRP’s losses remain more minor but still significant, showing how the broader market downturn is affecting digital assets. XRP’s break below $2.50 has increased its downside risk, making a decline of 20.2% more likely. The price remains at risk of further losses unless key support zones between $1.70 and $2.00 hold.
Historically, these levels have attracted buyers, but technical indicators show weakness. The RSI has dropped below its signal line, confirming intense selling pressure, while the MACD histogram shows rising negative momentum.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
