Ripple: XRP Falls like Humpty Dumpty
The Ripple-based token breached below the key support level amid weakened appetite for risk
Live XRP/USD Chart
The Ripple-based token breached below the key support level amid weakened appetite for risk. Market action reveals a pronounced tug-of-war between bulls and bears as the remittance-based altcoin attempts to regain significant levels.
A clear indicator of the sharp drop in account-to-account transactions is a decline in user engagement and network utility, reflected in the steep decrease in XRP payment volume.
Volume analysis denotes a notable spike in buying activity during the $1.7 to $2 bounce, indicating high levels of buyer interest at lower price points. Bullish momentum is evident in the tall green candles that formed during this rally, especially those that penetrated the mid-Bollinger Band.
The price of XRP is likely to fluctuate between resistance at $2 and critical support at $1.9. A hold and break above $2 amid high volume could trigger a movement towards $2.25, especially if the MACD’s momentum continues to rise.
Conversely, if XRP fails to hold above $1.96, it may revisit the $1.87 or even $1.78 level.
Concurrently, on-chain decline is occurring as XRP faces challenges on the price charts. After briefly moving above $2, XRP has fallen below this psychological level again and is currently trading at approximately $1.9.
The price action appears weak as it struggles to maintain the momentum necessary to break free from the downward price channel that has characterized the asset’s trend since late 2024. After briefly exceeding $2, the token has again dropped beneath this psychological threshold.
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