XRP has lost momentum again, sliding 24% over the past 1.05 hours to trade around $2.29.
After a brief recovery attempt, bulls failed to overcome resistance near $2.36, triggering renewed selling pressure.
Source: CoinMarketCap
Kraken market data show the XRP/USD pair remains below its 100-hour simple moving average (SMA). Technical indicators suggest that, if selling continues, the pair may retest the crucial support levels.
The latest decline followed a modest rebound earlier this week from a local low of $2.2670.
XRP’s price action mirrors weakness across the broader crypto market as top tokens struggle for momentum amid macro uncertainty and regulatory headwinds.
Rising expectations that the US will delay rate cuts are weighing on risk assets, including cryptocurrencies.
XRP faces strong resistance at $2.36
Earlier this week XRP briefly recovered above $2.320 and $2.350, even surpassing the 23.6% Fibonacci retracement of the down leg from $2.4768 to $2.2670.
It also broke above a key descending trendline around $2.305, offering short-term optimism.
However, the recovery stalled at $2.360, which is now the first major resistance area.
With no decisive break above this zone, bears regained control and pushed the price back toward $2.29.
A close above $2.3720, roughly the 50% Fibonacci retracement level, is required to shift momentum.
Until that level is reclaimed, XRP remains technically weak and vulnerable to further short-term declines.
Risk of further drop below $2.260
XRP is currently hovering just above the $2.280 support area.
A sustained break below this level could send the token down to $2.260. If that support fails, the next floors are $2.2320 and $2.2000.
The 100-hour moving average continues to act as an obstacle to upside; the chart structure still shows lower highs, confirming a bearish bias.
To change short-term sentiment, XRP needs to close above $2.360, but with selling pressure intensifying, further downside remains possible.
Meanwhile, Ripple Labs continues to expand partnerships and utility-driven use cases globally, including ongoing work on central bank digital currency (CBDC) platforms.
Nevertheless, these developments have not yet translated into consistent price support for the XRP token, which remains closely tied to speculative flows and broader market sentiment dynamics.
Broader market uncertainty weighs on altcoins
XRP’s decline reflects a cautious tone across the wider digital asset market.
Bitcoin and Ethereum have also faced resistance over recent sessions, with traders reluctant to take aggressive positions ahead of key US macro releases.
Without a clear bullish catalyst and with interest-rate speculation weighing on investor sentiment, altcoins remain particularly vulnerable to additional downside.
XRP’s next move may hinge on whether it can hold above the $2.260 area. A breakdown could widen losses and signal a deeper correction, while any meaningful bounce will require a decisive break above $2.36 and $2.3720 to be sustained.