XRP News Today: XRP Drops 20% In A Week, Faces Further Decline

XRP has been experiencing a challenging period, trading within a bearish trend. Over the past week, the price dropped below a critical support zone between $2.50 and $2.10, leading to a sharp decline towards the $1.95 to $1.92 range.

As anticipated, XRP found temporary support around $1.92, bouncing slightly from that level. However, if the price breaks below $1.90 on a daily closing basis, it could trigger a further decline towards $1.80 to $1.79, which is considered the next key support zone.

Currently, resistance for XRP stands between $2.16 and $2.60. A decisive breakout above $2.16 would be the first sign that the downtrend might be easing. Until then, the overall market structure remains bearish on the daily chart, with small bounces likely but no confirmed trend reversal yet.

If XRP falls below $1.79, it could enter a risky zone where lower levels like $1.56 and even $1.21 might come into play. On the other hand, a break above resistance with a strong five-wave pattern could hint at a bullish recovery starting earlier than expected.

Analyst Casi Trades has warned that XRP is once again approaching a key support level at $1.90. Casi explained that this kind of “bounce-then-final-dip” move is common before a proper bottom forms. While nothing is confirmed yet, XRP remains in a wider trading range between $2.13 and $1.55.

“This week is already full of tension in world events and in the charts. Eyes on this next test. If the reaction is strong, this may be the last low we get before wave 3 ignites,” the analyst said.