The start of the weekly trade has been largely bearish for the XRP price, while the possibility was seen during the weekend trade. The price maintained a descending consolidation after facing a rejection for the second time this month. In the times when many believed it to be a short-time pullback, the intensified bearish action dragged the levels to the pivotal support zone. On the other hand, the selling pressure has intensified, which raises the fear of an extended bearish action that may trigger a 10% to 12% pullback.
XRP price slipped around 3–4% today, trading near $2.85, as profit-taking followed the recent spot XRP ETF launch. Over $15M in long positions was liquidated, accelerating the downside move. Broader crypto weakness also weighed on sentiment, with Bitcoin and Ethereum dropping over 2%. Technical charts show strong resistance near $3.30–$3.50, keeping XRP range-bound. Macroeconomic uncertainty and cautious risk appetite continue to pressure altcoins, leaving traders watching for a decisive breakout above resistance before expecting renewed bullish momentum.
XRP has dropped nearly 4%, currently trading around $2.85, breaking below its short-term trendline support. The chart shows price losing momentum after multiple rejections near $3.35–$3.63 resistance. Volume spiked during the breakdown, confirming selling pressure. The next key support lies in the $2.65–$2.70 zone, aligning with the 200-day EMA, which could act as a crucial demand area. CMF (Chaikin Money Flow) is slightly negative, signaling outflows. A bounce from support could retest $3.02, but failure may expose XRP to deeper downside toward $2.50. Bulls need a strong close back above $3.00 to regain momentum.
Conversely, XRP’s breakdown below $3.00 suggests short-term weakness, but September’s price action could stay range-bound if $2.65 support holds. A rebound from this zone may push XRP back toward $3.02, with a successful breakout targeting $3.35 and potentially $3.63 later in the month. However, failure to defend $2.65 could trigger a deeper decline toward $2.50. Traders should watch volume and CMF for signs of accumulation before expecting a sustained recovery. September remains a decisive month for XRP’s next major move.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The crypto market has turned red today, with tokens like Bitcoin, Ethereum, and XRP trading…
The broader crypto market has been under pressure in recent weeks, with prices moving lower.…
The crypto market remains under pressure this week. XRP slipped below $2, shaking confidence in…
The US financial landscape witnessed good numbers on December 18 from an key 3-star news.…
In crypto markets, the strongest shifts often begin quietly. A project advances through its roadmap,…
For years, crypto investors have relied on one idea more than almost any other: the…
