Key takeaways
- XRP has fallen about 11% over the past seven days and faces the risk of slipping below $2.00 if support breaks.
- This bearish move has occurred despite the recent debut of a spot XRP ETF.
XRP continues to underperform
XRP, the native token of the Ripple network, has come under significant selling pressure at key support levels in recent days as the broader cryptocurrency market struggles. The token’s recent weakness reflects a mix of uneven institutional signals and increased macroeconomic uncertainty that has kept sentiment subdued.
Over the past week XRP has lost roughly 11% of its value. The market remains in a medium-term downtrend, and investor sentiment is tilted toward fear amid heightened volatility in Bitcoin and other major assets. These conditions have weighed on XRP even as new products and on-chain developments have emerged.
Notably, XRP did not see a meaningful price uplift after Canary Capital launched a U.S. spot XRP ETF (XRPC). The ETF recorded $58.6 million in first-day volume, well above some analyst estimates, but that demand failed to translate into sustained upward momentum for the token.
Meanwhile, derivatives markets signaled stress: XRP dropped beneath the $2.50 support level and roughly $28 million in XRP long positions were liquidated over the past 48 hours, underscoring the short-term bearish pressure present in the market.
Potential downside below $2.00 if support breaks
On the daily chart, XRP/USD still shows the structure of a market that could recover, but recent price action has been unfavorable. Last week the price was rejected at the 50-day exponential moving average (EMA) around $2.49, and the subsequent decline has left XRP trading near $2.27 per coin.
If bullish momentum returns, XRP could test the next major resistance at the 50-day EMA near $2.55. The daily Relative Strength Index (RSI) sits around 42, below the neutral 50 level, which indicates that bearish momentum has eased slightly but remains present. For a credible recovery, the RSI will need to climb above 50 and sustain that level. The MACD remains in bearish territory as well, suggesting sellers still hold an edge.
On the downside, continued selling could push XRP beneath the $2.00 psychological level. A break below current support would likely open the door to a retest of the next daily support zone near $1.96. Traders and investors should watch these levels closely, along with broader market indicators and ETF flows, to gauge the next directional move for XRP.