Market Analysis
XRP has experienced a dramatic 12% decline, erasing gains from its recent rally sparked by Trump’s controversial crypto strategic reserve announcement. The token is now testing critical support levels that could determine its next major move.
Key Support Levels in Focus
According to prominent crypto analyst Trade City, XRP faces two crucial support levels:
- $3.06717 – Current all-time high and major supply zone
- $1.67220 – Critical weekly support level
The token previously confirmed a breakout above $0.73056, triggering a bullish surge to $3.06717. However, recent price action shows concerning technical signals.
Technical Indicators Flash Warning Signs
The RSI has exited overbought territory and returned to neutral levels, while a bearish divergence has formed on daily timeframes. The price is currently ranging between $2.02967 and $3.30467, with declining trading volume raising red flags.
Potential Scenarios
If the $2.02967 support breaks, XRP could see a deeper correction toward key Fibonacci levels (0.382, 0.5, 0.618). However, a break above the current range could trigger a fresh rally toward $4.00, establishing a new all-time high.
At press time, XRP trades at $2.32, down 12% in 24 hours, with market sentiment hanging in the balance as traders closely monitor these critical support levels.