XRP News Today: XRP Tests $2 Support Amid Bearish Signals Bitcoin Faces $100,000 Test Solana Plunges Below 50 EMA

Coin WorldMonday, Jun 2, 2025 2:41 am ET
2min read

XRP is currently at a critical juncture, trading at $2.10, a level that tests both psychological and technical boundaries. After a sustained rally that pushed it above the $2 mark, the asset shows signs of fatigue. The upcoming sessions will be pivotal in determining whether XRP can maintain its gains or enter a more significant correction. The asset is positioned on the 200-day Exponential Moving Average (EMA), a crucial long-term support level. Historically, a break below this zone often signals a shift to a more bearish phase, although it typically acts as a buffer during downtrends.

The recent behavior of short-term moving averages adds to the complexity. The 50 EMA is on the verge of crossing below the 10 EMA, a bearish crossover that usually indicates increasing downward momentum. The psychological significance of the $2 to $10 range further intensifies the situation. Market sentiment has relied on holding above this level, but a breakdown could lead to a steep decline. Investors are closely monitoring XRP, as a failure to hold above $2 could result in a decline with little support between $1.85 and $1.90. The current setup leans bearish, and without a resurgence of strong buying pressure, the 200 EMA may not hold, potentially turning the $2 breakout into a bull trap. This underscores the importance of the $2 level as a make-or-break point for XRP.

Bitcoin is facing a critical test as it approaches the 26 EMA, a key level that serves as the last line of defense against a more significant decline. After hitting new all-time highs earlier this year, Bitcoin has struggled to maintain its upward momentum. Currently trading at approximately $104,600, Bitcoin is precisely on its 26 EMA, which has historically provided dynamic support in strong bullish trends. However, this time, the significance goes beyond technical levels; it represents the final major obstacle before a more substantial correction. If this support fails, the next likely target is the 50 EMA, which is still below the crucial $100,000 mark.

A decline below the $100,000 level carries both technical and psychological significance. It could destroy market confidence and trigger a larger wave of liquidations and pessimism. Since Bitcoin's jump to its new all-time high, the 50 EMA has not been tested, and touching it now would indicate the largest retracement. The macro backdrop also exerts pressure, with declining exchange reserves limiting supply but not providing enough fuel for bullish continuation. This may signal the start of a complete reversal from the highs if bulls cannot quickly regain ground above the 26 EMA. The setup is clear: either hold the 26 EMA or risk falling to the 50 EMA. What happens at this turning point will determine Bitcoin's near-term future, potentially replacing ATH euphoria with a wider corrective phase.

Solana has given the market a surprising and negative revelation. After weeks of relatively stable conditions, SOL has plunged below the 50 EMA, indicating that bulls have lost control and momentum has broken. This breakdown opens the door to a potential move toward $105, which, if realized, could signal a serious decline in market confidence. The convergence of moving averages paints a grim picture, with EMAs curling downward and converging instead of fanning out in a bullish pattern, typically preceding more severe downside movements. The abrupt and decisive nature of the drop is particularly concerning, as it not only frightens individual traders but also compels institutional players to reconsider their short-term strategies. The path of least resistance is down, as momentum is evaporating quickly. A recovery now appears increasingly unlikely, with neither bullish conviction nor a significant volume inflow present. Instead, the $105 level is the next price action magnet, and the market seems to be preparing for more losses. If the current structure holds, Solana may not only be about to undergo a correction but also enter a prolonged period of bearishness that will test even the most optimistic holders.