Ripple’s token under pressure with downside risk building near $2.75
XRP (XRP/USDT) fell sharply in the last 24 hours, sliding nearly 6% to trade around $2.75 as sellers increased pressure near crucial support levels. The decline comes after weeks of range-bound action, raising concerns about a possible bearish breakdown if buyers fail to step in.
On the 4-hour chart, XRP shows a clear rejection from the $3.00–$3.20 resistance zone, where sellers have repeatedly capped upward momentum. The latest slide has now pushed the token back toward the $2.70–$2.75 support area, which previously acted as a springboard for short-term rebounds.
According to BITX market analysts, “XRP is facing significant selling interest every time it approaches $3.00. Unless bulls can reclaim that level decisively, the risk of revisiting lower demand zones remains high.”
If bears gain further control, the next downside target lies around $2.55, aligning with the broader support range highlighted in recent trading sessions.
Trading volume has remained moderate, but the distribution pattern suggests that sellers are gaining the upper hand. Market participants appear cautious as the token continues to struggle below $3.20 — a level widely considered to be the gateway for renewed bullish momentum.
According to BITX analyst, “XRP has been consolidating for weeks, but the repeated failures to break higher show fatigue among buyers. A clean break below $2.70 could accelerate downside momentum.”
For the near term, XRP must defend the $2.70 zone to prevent further losses. A bounce from this level could re-establish momentum toward $3.00 resistance, with a breakout potentially targeting $3.40 and beyond. However, a breakdown below support may expose the market to steeper declines, testing the $2.55–$2.60 region.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.