Key Support Levels Tested After Market-Wide Correction
Ripple’s native token, XRP, came under pressure on Monday, sliding more than 3% to trade near $2.81, as broader crypto markets reacted to Bitcoin’s sharp pullback despite the excitement surrounding a record-breaking ETF debut.
On the daily chart, XRP shows a decisive rejection from the $3.10–$3.25 resistance zone, where price failed to sustain momentum after multiple retests. The token has now retreated toward the $2.70–$2.85 support range, a level that previously triggered bullish rebounds earlier this quarter.
Below this, the next key defense lies near $2.30–$2.45, marked by high-volume demand during XRP’s June–July accumulation phase. A break under these levels could invite deeper retracement, while a recovery above $3.20 would reopen the path to the $3.75–$3.90 supply zone.
“XRP’s recent dip is more correlated to Bitcoin’s pullback than its own fundamentals. The ETF launch drove record inflows, but short-term profit-taking across majors is weighing on sentiment,” BITX analyst explained.
Trading volume surged to over 112 million XRP, reflecting heightened volatility as traders repositioned around key levels. Despite short-term weakness, long-term sentiment among Ripple backers remains intact, particularly with institutional demand rising in parallel to Bitcoin-linked investment products.
According to BITX: “XRP is currently holding inside a critical green zone. If Bitcoin stabilizes, XRP could bounce back quickly, but if BTC continues downward pressure, we may see a retest closer to $2.40.”
While the ETF milestone underscores growing institutional interest in digital assets, XRP’s near-term trajectory remains tied to Bitcoin’s ability to reclaim stability. For now, the token is in a consolidation phase, with traders closely monitoring whether support holds at current levels.
The technical structure suggests $2.70 acts as the key battleground. A sustained bounce could validate bullish continuation, while a breakdown risks prolonging correction cycles.
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.