XRP is trading near $2.07, facing significant selling pressure. Holding the $2.00 support level may be crucial for the cryptocurrency's path forward.
Market Overview
After a strong rally in late 2024, XRP entered a consolidation phase. On the daily chart, the token faces selling pressure, limiting its upward potential. Short-term analysis on the 4-hour chart indicates weak momentum, suggesting difficulties in breaking resistance levels.
What If XRP Falls Below $2.00?
A breakdown below $2.00 could trigger a move toward $1.90, a level that previously acted as strong support. If selling pressure intensifies, XRP may slide further to $1.79, a key technical retracement zone. A worst-case scenario could see XRP testing $1.61 before buyers step in.
When Could XRP Recover?
For a rebound, XRP needs to hold above $1.90 and push past $2.10 to regain bullish momentum. A break above $2.25 would confirm strength and open the door for further gains. Market-wide sentiment, particularly Bitcoin’s movement, will play a major role in XRP’s recovery.
XRP's fate hinges on its ability to stay above the $2.00 support level. By remaining above this level, the cryptocurrency could start to recover. Traders should closely monitor trading volumes, key resistance levels, and external market influences.
