Key Points
- XRP fell about 1% over the past 24 hours and is currently trading around $1.99.
- If support at $1.96 fails to hold, XRP could see further downside.
XRP slips below $2
The cryptocurrency market has shown weakness in recent days, with Bitcoin and several major altcoins trading lower. Bitcoin, the largest crypto by market capitalization, has dropped below $90,000, and continued bearish pressure could push it toward lower levels.
XRP, the native token of the Ripple ledger, also declined roughly 1% over the last 24 hours and moved into negative territory. The token failed to sustain the psychological $2.00 level and is now trading around $1.99.
Bulls must defend the $1.96 support level in the near term — a breach could expose XRP to sizeable losses over the coming days. At the moment, the market appears to be in a corrective phase with no clear directional bias.
Failure to hold $1.96 support could prolong XRP’s decline
The XRP/USD 4-hour chart looks bearish and inefficient, a condition that traces back to the de-leveraging event on October 11. Since that event, XRP has been unable to reclaim the $2.70 area or restore trading efficiency.
Over the past week the token fell about 3.22%, marking a second consecutive weekly decline. At the time of writing, XRP is trading near $1.99.
If XRP fails to recover and closes below the $1.96 support, the drop could extend toward the next support zone around $1.77.
The 4-hour RSI stands near 41, below the neutral 50 level, indicating increasing bearish momentum. The MACD lines are also converging, adding to signals that the market is undergoing a correction.
Conversely, if XRP holds above the $1.96 daily support, it could regain upside momentum and target the next daily resistance around $2.35.