XRP is under renewed pressure after sliding below key support levels, with analysts warning that the token could soon revisit the $2 zone.
The altcoin has fallen more than 14% in the past week, dropping from $2.79 to below $2.40, as nearly $8 billion in market value was wiped out in just 24 hours.
Weak technical setup
XRP’s chart shows clear signs of exhaustion. The token broke beneath the 38.2% Fibonacci level at $2.52 and the 30-day moving average at $2.83, signaling a loss of momentum. The RSI near 34 and a negative MACD point to continued bearish sentiment, while widening Bollinger Bands hint at higher volatility ahead.
Analysts eye key levels
On-chain analyst Ali Martinez believes XRP could retest $2, citing $2.10 as short-term support and $2.80 as major resistance. Unless buyers push the price back above $2.50, he warns, a deeper decline remains likely.
Market lagging behind peers
While Bitcoin and Ethereum are also under pressure, XRP’s decline has been steeper. The $2 zone—once viewed as an anomaly during last week’s flash crash—has now become a crucial line for bulls to defend. A close below that level could open the door to further downside, while reclaiming $2.50 might spark a short-term recovery.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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Source: https://coindoo.com/xrp-price-outlook-analysts-warn-of-deeper-drop-toward-2/
