The breakdown below $2.50 sparks a 158% surge in trading volume, signaling renewed bearish sentiment despite prior bullish momentum.
XRP has fallen 5% in the past 24 hours, dropping to $2.47 after losing the critical $2.50 support level. The move was accompanied by a 158% spike in trading volume, suggesting heightened volatility as traders reacted sharply to the latest technical breakdown.
The price action shows XRP retreating from recent highs near $2.80, where selling pressure intensified. The $2.50 level, previously acting as a strong demand zone, has now flipped into resistance—indicating that short-term momentum has shifted in favor of sellers.
Technical charts reveal that XRP has broken below the mid-range support band, with the next key defense zone sitting between $2.25 and $2.30. If buyers fail to defend this region, BitXJournal analysts warn of potential downside toward $2.00, which coincides with the lower boundary of the broader consolidation structure visible since July.
Despite the short-term weakness, analysts emphasize that XRP’s long-term structure remains intact as long as the price holds above the green accumulation area. “XRP is testing an important zone where previous breakouts originated. A sustained rebound above $2.55 could quickly restore bullish sentiment,” BitXJournal market strategist commented.
On-chain data also reflects growing trader engagement, with large wallet addresses showing mixed behavior—some taking profits while others accumulate on dips. The heightened volume surge may suggest that market participants are repositioning for the next macro move rather than exiting completely.
With XRP now consolidating near $2.47, market observers are watching for signs of stabilization. A daily close below $2.30 could invite deeper losses, while a recovery above $2.55 may validate a rebound attempt. The next few sessions will be pivotal in determining whether this move marks a temporary shakeout or the beginning of a broader correction phase.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.