XRP Price Declines, Technical Analysis Points to $2.00 Target

XRP Tests Crucial Support as Bearish Pattern Emerges Amid Market Volatility

XRP is facing intensified selling pressure after failing to sustain gains above the $2.40 level, amid ongoing global economic uncertainty and an approaching token unlock.

The cryptocurrency’s short-term charts show a bearish head-and-shoulders pattern forming, with elevated selling volume emerging as XRP challenged key resistance points. Analysts, including Ali Martinez, warn that dropping below the $2.30 support could lead to a significant decline toward $2.00.

Technical Highlights:

• XRP peaked at $2.411 before retracing 3.38% to $2.330, forming a clear head-and-shoulders pattern.
• Strong resistance at $2.40 prompted heavy selling activity.
• The $2.345 support level was tested repeatedly and ultimately broken during early afternoon trading, with volume surging 23% above the daily average.
• In the last hour of trading, price dipped slightly from $2.341 to $2.329, a 0.5% decrease.
• A significant volume spike occurred at 13:35, with over 2.1 million traded as price fell from $2.345 to $2.337.
• Multiple failed attempts to recover above $2.340 between 13:38 and 13:41 resulted in a lower high formation.
• Renewed selling pressure in the late session pushed XRP to session lows near $2.326, with volume confirming continued distribution.

With XRP approaching a critical technical juncture, cautious trading is expected as broader market uncertainties persist.