XRP Drops 4.60% to $2.06, Approaching $2.00 Support

XRP, the cryptocurrency, experienced a significant drop of 4.60% on March 31, 2025, reaching a price of $2.06. This decline has brought the cryptocurrency close to the $2.00 support level, raising questions about whether this support can hold. The market capitalization of XRP stands at $206.54 billion, with a circulating supply of 58.2 billion XRP out of a total supply of 99.988 billion and a maximum supply of 100 billion. XRP currently holds the fourth position in the cryptocurrency market, with a 3.02% market cap share.

Technical analysis indicates that XRP is contained within a descending triangle on the 12-hour chart, with major support at $1.9433 and major resistance between $2.6000 and $2.7988. A close below the support level could push XRP down to $1.6000, while a close above resistance could drive prices up to $3.0000. The Relative Strength Index (RSI) has fallen from 47.49 to 37.45, approaching oversold status below 30, which suggests a possible price recovery. However, the Moving Average Convergence Divergence (MACD) shows a bearish crossover, indicating continued downward price pressure.

Volume analysis reveals a high volume spike during XRP’s price increase in early March when it hit $1.35. However, the volume has since declined sharply, suggesting limited buying interest as the price falls. This lack of strong volume indicates that the initial price increase above current levels is still struggling to attract buyers, and there may not be renewed buying interest at these levels.

Currently, XRP is trading at $2.06, having fallen 3.56% on the week. The bearish MACD and the RSI crossing below its recent range suggest further downward momentum in the near term. However, if XRP stays above the $2.00 support level, it may consolidate and draw in buying interest, as this level is a profit-taking area for short-sellers. The overall judgment is cautious at current levels, and XRP will need significant buying support to disrupt the downtrend. Investors should closely monitor the $2.00 support level for potential shifts.