XRP Drops 6.01% Amid Market Volatility, Faces Key Support Test

XRP, the cryptocurrency developed by Ripple Labs, is currently trading at $2.19, reflecting a 6.01% decline from the previous close. The recent price action shows a drop from an intraday high of $2.36 to a low of $2.16, following broader market volatility. XRP has been on a downward trend, struggling to hold key support levels. The XRP chart has shown a bearish head-and-shoulders pattern, which, if confirmed, could push XRP down by over 50% to around $1.10.

However, XRP is nearing a reversal, as it has reached critical support levels predicted by previous analyses. This could mean an upcoming bounce back if buying pressure returns. For a bullish reversal, XRP must hold above the $2.10–$2.20 support zone and reclaim $2.40–$2.50 as resistance-turned-support. A breakout above $2.60 could confirm renewed upward momentum. If the bearish pattern plays out, XRP could drop to $1.50 first, with $1.10 as an extreme downside target. A breakdown below $2.00 would signal continued weakness.

Investor sentiment remains mixed, influenced by macro trends and regulatory factors affecting Ripple and the broader crypto space. Despite the short-term dip, XRP’s long-term fundamentals remain strong, especially in cross-border payments and institutional adoption. XRP is at a critical turning point. If bulls hold support and push past resistance, a reversal could drive prices back toward $3.00. However, failure to defend key levels could trigger a steep decline toward $1.10.

For now, traders should watch the $2.10 support and $2.50 resistance, as they will determine XRP’s next major move. XRP is currently in a high-risk zone, with a higher probability of short-term downside. Traders should monitor the $0.50–$0.55 support—if it holds, XRP could attempt recovery; if broken, expect a further drop toward $0.40. The market's indecisiveness and the potential for a significant decline make it crucial for investors to stay informed and cautious.