On Wednesday, XRP dropped below the critical $2 mark, retesting the $1.96 level as the crypto market faced heightened volatility.
The price of XRP dropped below the $2 mark on Wednesday, retesting the $1.96 level as the crypto market faced heightened volatility.
The sudden downturn in the market wiped out gains from the past three days, with over $450 million in crypto futures liquidated in the last 24 hours amid the impact of new U.S. tariffs.
Technical Analysis of XRP
As pointed out by one analyst, XRP continues to show signs of a bearish divergence, a pattern that has been developing for months and suggests the potential for lower prices.
However, zooming into the 8-hour timeframe, there’s evidence of a short-term bullish divergence—a slight upward movement in price with choppy sideways action.
According to the analyst, XRP is currently facing strong resistance between $2.24 and $2.30, with a recent rejection at around $2.24. This level has been a consistent barrier, preventing XRP from gaining momentum.
For support, the key zones are between $1.95 and $2.05. If XRP manages to stay above this range, there could be a chance for a mild relief rally or a sideways price movement in the coming days.
Even with a short-term bullish divergence, XRP may struggle to break through resistance without stronger market catalysts.
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