XRP News Today: XRP Drops 10% to $2.01 as Geopolitical Unrest Fuels Volatility

XRP, the cryptocurrency, has reached a critical support level, which could either signal a rebound or a further decline of up to 20%. According to technical analyst CasiTrades, the recent drop in XRP's price was anticipated and the precision with which it touched the $2.01 zone underscores its significance. The analyst noted that the drop from the symmetrical triangle consolidation was clean and technically sound, with the $2.01 level acting as a potential bounce point.

In recent days, XRP's price action has been characterized by a downtrend. It lost the $2.13 price level over the weekend and eventually crashed below $2 in the past 24 hours, bottoming out at $1.92 before rebounding back above $2. As of the latest update, XRP is trading at $2.01, a level that is crucial for its price action in the coming days. According to a technical analysis by CasiTrades, $2.01 coincides with a major 0.618 Fib support level, adding to its importance.

Supporting this view is a visible bullish divergence forming on both the 15-minute and 1-hour Relative Strength Index (RSI). However, the analyst cautioned that confirmation is still lacking on the higher 4-hour and daily timeframes. Without these confirmations, the bounce could still be nonexistent, and XRP could crash strongly below $2. XRP is currently at risk unless buyers manage to push its price into higher confirmation zones, specifically into the $3.00 range. If any bounce at $2.01 fails to carry through, XRP could be headed for its next supports at $1.90 and then $1.55. The latter represents a rough 23% drop from current levels, a scenario that would invalidate the bullish RSI divergence on the smaller timeframes.

The sharp drop in XRP's price over the weekend coincided with reports of geopolitical unrest, particularly the reported bombing of Iran by the US. This event caused widespread volatility in the crypto market, which was opened over the weekend. Although the decline seems to be pausing in recent trading hours, it does not yet qualify as a bounce. XRP price is currently fragile, and without a reaction from buyers or confirmation across higher timeframes, the structure is bearish. Selling pressure from new geopolitical tensions or algorithmic moves could potentially lead to deeper declines during the new week, especially if $2.00 fails to hold. In that case, XRP could be on track to retest the $1.90 support and even collapse toward the $1.55 before the end of the week.