XRP News Today: XRP Drops 10% Below $2 Mark Amid Bearish Sentiment

XRP, the cryptocurrency associated with the Ripple network, has experienced a significant decline, falling 10% below the $2 mark. This drop has raised concerns among investors and analysts, as the price of XRP now hovers around the $1.91 level. If the downward trend persists, the next potential support levels are anticipated to be around $1.80 to $1.79, where historical price action and Fibonacci levels may provide some resistance.

The bearish sentiment surrounding XRP has been growing, with analysts predicting that the price could drop to its crucial support levels of $2 or $1.94 in the near future. This bearish outlook is further supported by the long/short ratio, which indicates that traders are becoming increasingly bullish, potentially leading to a price rebound. However, the current market conditions suggest that sellers remain in control, and a break below $2.10 could lead to further downside movement toward the $2.00 psychological level.

Despite the recent price drop, some analysts remain optimistic about XRP's long-term prospects. According to the analyst's forecast, XRP has the potential to break out to $3.70 to $10, or conversely, drop to $1.33. This wide range of predictions highlights the uncertainty surrounding XRP's future price movements. The cryptocurrency has been trading within a range of $1.90 to $2.90, and a breakout from this range could provide more clarity on its future direction.

The recent price drop has also been attributed to an abnormal liquidation imbalance, which has put significant downward pressure on XRP's price. This liquidation imbalance has led to a sharp sell-off, with prices dropping over 6% in a single day. However, XRP has since rebounded sharply, forming a bullish pattern that could indicate a potential reversal in the near future.

The market remains highly volatile, especially with Bitcoin dominance increasing and global tensions weighing heavily on risk assets like cryptocurrencies. The US Federal Reserve is also under pressure. Analysts also observed that the Fed didn’t cut interest rates recently because of growing instability, and this fresh conflict makes the economic situation even trickier.

In the short-term charts, no strong recovery signals have formed yet. Analysts had been hoping to see signs of a bullish divergence, which would hint at a possible bounce, but no clear confirmation has appeared so far. As a result, the trend for XRP remains bearish, and unless Bitcoin and the broader crypto market improve, XRP may continue facing pressure.

On the daily price chart, XRP has broken through a crucial support level around $2.07. Experts had been warning that if this level didn’t hold, the price could slide even further — and that’s exactly what has happened. Now, experts are watching the next important support zone, which sits between $1.92 and $1.95. If XRP continues to fall and breaks below $1.91, the next possible target could be around $1.80 to $1.79, where some past price action and Fibonacci levels suggest support could appear.