XRP popped over $2.50, hyped by Ripple’s SEC progress and clearer crypto rules, but slammed into resistance at $2.40 and started dipping. Now at $2.18, it’s down 9% as whales cash out and $53M in longs got wrecked. If $2 support cracks, $1.75 could be next. Momentum’s fading fast.
XRP had a wild ride recently, blasting past $2.50 with over 400% gains from its $1 breakout. The pump came thanks to Ripple’s legal wins against the SEC and the crypto world pushing for clear rules. But then, bam — XRP hit resistance at $2.40 and started sliding.
Liquidations have been brutal. Over $53M in long positions got wrecked in just one day, while $12M in longs and $4.2M in shorts were wiped out more recently. Smaller investors are dipping out, and even whales seem to be cashing in as XRP struggles to stay afloat.
Now, all eyes are locked on the $2 mark — a do-or-die support level. If XRP falls below $2, it could freefall to $1.88 or even $1.75. Indicators aren’t looking too hot either: RSI is down to 60.65, showing fading hype, OBV signals less buying action, and the MACD says selling pressure is up.
Still, if XRP bounces back hard from $2, there’s hope to reclaim $2.50 and keep the bullish vibes alive. As of writing, XRP is down by 9% to $2.18, with market cap dropping to $124B. Can it hold the line, or is more pain coming? Stay tuned