XRP continues to demonstrate significant fluctuations, having dropped 7.97% over the past 24 hours. This article examines the factors driving this market reaction and the technical support levels.
Market Conditions and Key Influences
The current downturn of XRP is due to a confluence of macroeconomic factors, including recently imposed U.S. tariffs that have rattled the broader crypto market. This has led to increased volatility, with XRP testing key support levels amid cautious investor sentiment.
Technical Analysis Across Time Frames
• Short-Term (Hourly Chart): Testing Immediate Support
XRP is hovering around a crucial support zone at $1.98. If this level fails to hold, a further slide toward $1.95 or lower is likely. However, if buyers regain control, a rebound toward the $2.05–$2.10 resistance range could materialize.
• Medium-Term (Daily Chart): Bearish Formation in Play
A head-and-shoulders pattern has formed on the daily chart, with its neckline positioned at $2.00. A confirmed breakdown below this level could trigger a deeper correction, potentially dragging XRP down to $1.80 or even $1.50 in a worst-case scenario.
• Long-Term (Monthly Chart): Optimistic Projections Hold Firm
Despite the near-term weakness, long-term forecasts remain bullish. If Ethereum rallies toward $9,000 and BNB reaches $1,000, XRP could experience a surge, potentially aiming for the $12 mark. However, sustained institutional adoption and overall market strength will be key drivers of such growth.
What’s Next for XRP?
The next 24–48 hours will be pivotal. Bulls must defend the $1.98 support level to prevent a deeper correction. If buying pressure emerges, a push above $2.05 could reinstate bullish momentum, setting the stage for another test of the $2.20 zone. Conversely, failure to maintain support could result in a decline toward $1.90–$1.95 before any meaningful recovery attempt.
XRP finds itself at a crucial juncture, and traders should closely monitor key levels and be prepared for heightened volatility. While the short-term outlook appears uncertain, long-term prospects remain promising.
