Key takeaways
- XRP has fallen 11% over the past seven days and faces the risk of dropping below $2.00 soon.
- This bearish performance comes despite the recent launch of a spot XRP ETF.
XRP continues to underperform
XRP, the native token of the Ripple ecosystem, has faced heavy selling pressure at key support levels in recent days as the broader crypto market remains weak.
The token lost 11% of its value over the last seven days amid mixed institutional signals and heightened macroeconomic uncertainty. The crypto market remains in a medium-term downtrend, with sentiment shifting toward fear as volatility rises across Bitcoin and other major assets.
XRP’s price failed to react positively even though Canary Capital’s new spot XRP ETF (XRPC) posted $58.6 million in volume on its first day, well above the $17 million analysts had expected.
Despite the strong ETF debut, derivatives markets have shown stress signals, and XRP lost the key $2.50 support level. The bearish move triggered long-position liquidations totaling about $28 million in XRP over the past 48 hours.
XRP could fall below $2.00 if current support fails
The daily XRP/USD chart still holds technically constructive elements, despite the token’s weak performance in recent weeks. Last week, price was rejected at the 50-day EMA around $2.49 and has declined roughly 11% since. XRP is now trading near $2.27.
If recovery attempts strengthen, XRP could revisit the next major resistance at the 50-day EMA near $2.55. The daily RSI sits around 42, below the neutral 50 level, signaling waning bullish momentum. For a sustained rebound, RSI needs to climb above 50. MACD lines remain in bearish territory as well, indicating sellers still control the market.
However, if the correction continues, XRP risks slipping below the psychological $2.00 mark and retesting the next daily support level at approximately $1.96.