XRP Drops 20% in 24 Hours, Faces 64% Decline Risk

Amidst ongoing market instability, the XRP price has maintained support levels, even as many altcoins experienced significant crashes. A well-known crypto pundit has highlighted a critical resistance level at $2.3, suggesting that XRP’s next move will largely depend on whether it can successfully break through this barrier.

According to an analyst on X (formerly Twitter), XRP had been maintaining strong support at $2. Compared to other altcoins that experienced severe price crashes earlier this year, XRP was one of the few that didn’t fall below the February capitulation price. The $2 price level acted as a key support zone, preventing further price decline as buyers stepped in. XRP had been consolidating just above this point for the past few months, showing resilience amid broader market volatility driven by news of the United States tariff plans. However, recently XRP has dropped below $2 and is now trading at $1.68.

The analyst shared a price chart, highlighting that XRP recently broke out of a Descending Triangle pattern, a formation usually associated with strong price moves. For this breakout to have real momentum, the altcoin must push past the critical resistance level at $2.3. If XRP manages to clear this resistance level, the analyst predicts that its price could experience a rapid push toward the $3.00 – $3.20 region, marking new highs. Historically, the token has experienced two strong breakouts from similar Descending Triangles. The most recent triangle saw XRP break above the $2.3 resistance zone with strong bullish candles.

However, the analyst has warned that without a decisive breakout above the $2.3 resistance, XRP’s price action will likely remain confined in a wider consolidation range. This does not bode well for short-term momentum, as it would limit further upward movement for the cryptocurrency until stronger bullish confirmation emerges.

The XRP price appears to be mirroring the broader market’s bearish trend, plunging by approximately 20% in the last 24 hours. The cryptocurrency has also declined by 30% over the past month, highlighting sustained downward pressure and waning investor confidence. In a recent post on X, crypto analyst Jesse Colombo pointed out XRP’s recent breakdown below key support zones, warning that the cryptocurrency is likely headed for an even deeper price crash to $0.6. The analyst highlighted the formation of a Head and Shoulder pattern on the price chart, a classic bearish reversal signal that often precedes a significant downward move.

With XRP’s price currently trading at $1.68, a decline to $0.6 would represent a significant 64% decrease. Notably, new support levels between $2 and $2.2 have been identified, indicating that a rebound to this range could act as a critical barrier against further downside for the altcoin.