News View Non-AMP

XRP Crash Incoming? Price Fails to Hold $2.20 Level

Published by
Chandan Gupta

Amid ongoing market uncertainty, XRP, the native token of Ripple Labs, is poised for a notable price decline following the formation of bearish price action. Besides XRP, the overall cryptocurrency market seems to be struggling to gain momentum and is facing a significant price decline.

XRP Current Price Momentum

At press time, XRP is trading near $2.153 and has experienced a price decline of over 6.8% in the past 24 hours. During the same period, its trading volume jumped by 7%, reflecting heightened participation from traders and investors and suggesting concerns about a potential price decline.

Why is the XRP Price Falling?

However, the potential reason behind XRP’s price decline is the upcoming unlock of 1 billion tokens, as reported by CoinPedia, along with the current market sentiment.

Falling Open Interest

Additionally, traders appear hesitant to build new positions, potentially due to significant volatility in the market. According to Coinglass data, XRP’s open interest has dropped by 31%, hinting at the liquidation of traders’ positions in the past 24 hours.

Traders Long Liquidation

This price decline has liquidated $6.84 million worth of XRP long positions out of a total of $7.68 million in overall liquidations, as revealed by the on-chain analytics firm Coinglass.

XRP Technical Analysis and Upcoming Level

Amid this bearish outlook, XRP has failed to hold its crucial support level of $2.20. Since the beginning of December 2024, the price has reached this level four times, each time witnessing upside momentum. However, XRP has now failed to maintain this level and appears to be falling toward the next support area.

However, XRP still has a chance to mitigate the price decline. Based on recent price action and historical momentum, if the altcoin closes a daily candle below the $2.15 level, there is a strong possibility it could drop by 14%, reaching the $1.88 mark in the near future.

XRP’s bearish thesis will hold only if it closes a daily candle below the $2.15 mark, otherwise, it may be invalidated.

Chandan Gupta

Chandan Gupta is a crypto analyst and news writer at CoinPedia. He specializes in market analysis using on-chain metrics and industry insights to forecast market trends. With over four years of trading experience, Chandan simplifies complex concepts in technical and on-chain analysis, making them easy to understand. At CoinPedia, he leverages his expertise to identify and present emerging opportunities in the cryptocurrency space

Recent Posts

Pi Network Price Prediction 2030: Could Pi Coin Hit $100 with AI Integration?

As artificial intelligence (AI) becomes the center of tech innovation, blockchain projects like Pi Network…

July 9, 2025

Crypto Firms in South Korea Set to Finally Gain Legal Status, Tax Incentives

Crypto fans will love this! South Korea’s government is taking steps to support the crypto…

July 9, 2025

Insiders Continue Dumping Shiba Inu (SHIB) to Load Up on Crypto’s Next Massive Winner

A surge of insider sell-offs has put Shiba Inu in the hot seat, stirring concern…

July 9, 2025

Bitcoin to $1 Million in Months? Samson Mow Reveals Shocking Scenario

The cryptocurrency world is buzzing with a positive update from Samson Mow, the vocal CEO…

July 9, 2025

Pi Network Price Prediction 2025, 2026 – 2030: Why Is Pi Coin Dropping?

Story Highlights Pi Coin Live Price is Banxa integrates with Pi, acquiring 10 million PI…

July 9, 2025

Near Protocol Price Prediction 2025, 2026 – 2030: NEAR Price To Record 2X Surge?

Story Highlights The live price of the Near Protocol token is . Price predictions for…

July 9, 2025