XRP News Today: XRP's $2.68 Support Test Could Trigger 20% Slide, Shaking Market Confidence

Veteran trader Peter Brandt has identified XRP as a key short candidate, warning of a potential 18–20% decline if the token fails to hold critical support at $2.68743. His analysis highlights a descending triangle pattern on the daily and weekly charts, with lower highs converging toward this level. A confirmed breakdown would target $2.22163, representing a significant correction from the current price of approximately $2.85 The Coin Republic^[1].

Brandt's bearish outlook is supported by on-chain activity and sentiment indicators. Over 320 million XRP tokens moved to exchanges in the past week, pushing exchange reserves to nine-month highs-a sign of heightened sell pressure. Santiment data also show XRP's crowd fear/uncertainty/doubt (FUD) metric at a six-month peak, historically acting as a contrarian signal for rebounds The Crypto Basic^[2]. Additionally, Glassnode reports that whale activity has intensified, with large holders offloading 440 million tokens in the past month, further reinforcing downside momentum Coinpedia^[3].

The technical case hinges on the $2.68 support level. If XRP closes below this threshold on the weekly chart, it would validate the descending triangle pattern and trigger a move toward $2.22. Conversely, a sustained hold above $2.68 could shift the narrative, with bulls eyeing a potential breakout above $3.15 to test $3.60 targets FX Leaders^[4]. Analysts like CasiTrades and Ali Martinez argue that consolidation near $3.00 could lead to a "Wave 3" rally, with price action suggesting a possible retest of $4.00–$4.50 if buying volume increases Blockonomi^[5].

Market structure remains a focal point. XRP's market cap of $177 billion ranks just below BNB's $178 billion, making even modest price movements impactful in altering rankings. A breakdown below $2.68 could erode confidence in XRP's ability to reclaim its position in the top five cryptocurrencies. Meanwhile, technical indicators such as the RSI show bearish divergence on the weekly chart, and the three black crows pattern-a series of bearish candles-signals ongoing selling pressure The Currency Analytics^[6].

Despite the bearish consensus, some analysts remain cautiously optimistic. CasiTrades notes that XRP's consolidation could set the stage for a breakout, while Santiment's FUD spike historically precedes rebounds. However, these bullish scenarios require confirmation above $2.94 to invalidate the descending triangle and rekindle upward momentum The Financial Analyst^[7].

The coming days will be critical for XRP. A decisive close below $2.68743 would confirm Brandt's target and deepen the correction, while a sustained rebound above $3.15 could shift focus to higher resistance levels. Traders are closely monitoring key levels, with the outcome likely to shape XRP's near-term trajectory in a market already testing its resilience.