Key Points
- XRP fell about 1% over the past 24 hours and is trading near $1.99
- Failure to hold the $1.96 support could expose XRP to further declines
XRP Falls Below $2
The cryptocurrency market has shown weaker performance in recent days, with Bitcoin and many major altcoins trading lower. Bitcoin, the largest digital asset by market capitalization, has slipped below $90,000 and could test lower levels again if the downtrend continues.
XRP, the native token of the Ripple network, is also trading in the red. After losing roughly 1% over the last 24 hours, XRP has been unable to hold the psychological $2.00 level and is currently changing hands near $1.99.
Bulls now need to defend the $1.96 support level; a sustained break below that level could trigger a more significant decline for XRP in the coming days. At the moment, the market is consolidating without a clear directional bias.
XRP Could Extend Losses If Bulls Fail to Protect $1.96 Support
The XRP/USD 4-hour chart shows bearish momentum and recent inefficiency that traces back to a leverage reduction event on October 11. Since then, XRP has failed to reclaim higher levels such as $2.70 to restore bullish momentum.
Over the past week, XRP lost 3.22%, marking a second consecutive weekly decline. At the time of writing, the token is trading around $1.99.
If XRP fails to rebound and closes a daily candle below the $1.96 support, the decline could extend toward the next daily support near $1.77.
On the 4-hour timeframe, the Relative Strength Index (RSI) sits around 41, below the neutral 50 level, indicating growing downside pressure. The MACD lines are also converging, which reflects the market’s consolidative state and reduced momentum.
Conversely, if XRP can hold above the $1.96 daily support, it may attempt to resume a rally toward the next daily resistance near $2.35.