XRP News Today: XRP’s $2.4–$2.5 Support Level Under Pressure: Will It Bounce Back or Drop Further?
- XRP faces critical $2.4–$2.5 support test amid broader crypto market declines, with technical indicators hinting at potential rebound if buyers defend this range. - Ripple's institutional expansion through Palisade acquisition and chip-enabled prepaid partnerships aims to drive long-term value despite 15% weekly token decline. - Key technical levels at $2.60 (200-day EMA) and $1.90 (June support) could determine whether XRP follows DOGE's volatile pattern or establishes sustained bullish momentum. - Mark
XRP, Ripple’s digital currency, has demonstrated notable stability even as the wider crypto market faces a downturn. Technical signals point to a possible recovery, with the token currently holding above its 200-week moving average at $2.5. Liquidity remains robust in the $2.4 to $2.5 range, as highlighted in an
Recent trading patterns have brought attention to a possible harmonic formation, a charting method used to spot potential reversal zones. Market participants are watching closely to see if
Ripple’s recent business moves have also fueled discussion about XRP’s prospects. The company’s acquisition of Palisade, a crypto custody provider, is part of its strategy to broaden institutional offerings such as custody, payments, and prime brokerage, according to a
The overall crypto sector is experiencing downward pressure, with
Ripple’s latest results have also been impacted by broader economic challenges. The token faces a 10% risk of further decline due to reduced retail participation and ongoing deleveraging, according to
Despite the market swings, some experts remain hopeful. “If XRP stays above $2.40, a technical bounce led by bargain hunters is possible,” one strategist noted, referencing past trends. Still, they warn that a drop below $2.18 could speed up losses toward $1.90.
Ripple’s push into institutional markets, including its collaboration with Carta to launch chip-based prepaid solutions, could serve as a long-term growth driver. The company’s latest earnings call pointed to advancements at its Indiana production site and progress with closed-loop prepaid projects, though profit margins remain under pressure.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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