XRP is under renewed bearish pressure, sliding below key support levels and trading near $2.80 as investors brace for potential further declines.
Key Takeaways:
- XRP is currently standing at approximately $2.82, slightly up intraday, but momentum remains fragile with heightened downside risk.
- Technical indicators and on-chain metrics show weak investor sentiment and heightened capital outflows, with new address creation near two-month lows.
- A drop below $2.74 could accelerate bearish pressure, while resistance above $2.95–$3.10 remains a steep hurdle.
XRP’s price action has shown a restrained intraday uptick, trading roughly in the range of $2.78 and $2.87, according to CoinGecko’s real-time market data. In spite of this, higher time frame (HTF), as well as the broader look at the crypto market still indicates bearish momentum.
Meanwhile, capital flows suggest unfavorable conditions as outflows have heightened, reaching a record-high in the last nine months, while new addresses registering for the first time have declined to near two-month lows. This signals fading investor interest and weak demand. According to a BeInCrypto report, XRP faces difficulty mounting any sustained upward move without fresh inflows.
Analysts Warn of Deeper Correction
Recent analysts indicates that XRP remains locked in a tight range and at risk of deeper correction. Meanwhile, crypto.com’s recent news and technical analysis flagged skepticism around holding $2.85, noting potential drops $2.74, then further to $2.66 or even $2.33, particularly if it fails. On the other hand, CryptoRank analysts highlight that XRP has yet to hit its first bearish downside target, currently projecting an extended Elliott Wave 4 correction heading toward $2.60–$2.65 before any meaningful rebound activity.
Another perspective, specifically from an AInvest report, highlights that bulls need to reclaim the $2.95–$3.10 zone, and ideally break above $3.10, to reignite bullish conviction. On the flip side, a daily close below $2.74 would substantiate technical breakdown and invite deeper falls, potentially toward $2.72.
XRP Holds Near $2.84 Amid Volatility
As of this writing (11:30AM UTC), XRP is trading at $2.84, logging a modest 0.5% gain over the past 24 hours, with daily range fluctuating between $2.78 and 2.86, indicating a tight trading window and heightened volatility. RSI readings hover in neutral territory, reflecting indecision among traders as bears and bulls struggle for control. Despite the minor uptick, XRP remains vulnerable to renewed selling pressure.
Whale Sell-offs, BTC Decline Add to Market Stress
Sell-side pressure has been bolstered by massive sell-offs from large holders. Reports show whales offloaded approximately 460 million XRP, prompting a 13% decline over a week and placing 93% of circulating supply in profit, which is a setup historically linked to elevated corrective risk. This disparity between profitability and holding patterns often results to deeper declines.
Meanwhile, the recent dip of Bitcoin to $107K area has already added a significant pressure to XRP’s price decline. The possibility of price rebound cannot be seen if BTC continues to stumble further. Moreover, the Estimated Leverage Ratio (ELR) also saw a noticeable decline, which suggests that the market isn’t “dangerously leveraged,” as noted by BlockNews. Or in short, even if the tables turn, the chances of huge liquidation cascade look low.
What’s Next
XRP’s near-term path depends on whether the $2.74 support level holds. A breakdown could possibly accelerate losses toward $2.60 to $2.65, while a strong defense and recovery above $2.95-$3.10 could trigger a rebound to the $3.20 to 3.30$ area. Traders remain on high alert as market sentiment and whale activity continue to dictate price action.
Summary
XRP trades ~$2.84 but remains pressured: capital outflows up, new wallet creation down, and whales dumped 460M XRP. Support at $2.74 is critical. Below that risks $2.60–$2.65 (or $2.33), while resistance sits at $2.95–$3.10. BTC weakness adds downside risk, but if support holds, a rebound toward $3.20–$3.30 is possible.
