XRP Drops 17% to $2.45: Key Support Tested Amid Rising Market Volatility

Sean Williams
Ripple XRP

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  • XRP drops 17% to $2.45, testing crucial support.
  • Short-term momentum is low; resistance at $2.64 caps recovery.
  • Long-term technical structure remains intact.

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This week, XRP experienced significant selling pressure, dropping 17.4% over the last seven days to reach $2.45. The cryptocurrency now hovers near its short-term support zone, a key level traders are watching closely. Despite the steep correction, the current price action mirrors longer-term patterns visible on multi-year Fibonacci projections, suggesting technical stability amid volatility.

Support Holds Amid Short-Term Turbulence

The $2.45 support level has proven crucial for XRP, with multiple intraday tests reinforcing its importance. This zone is acting as the base of the current trading range, where buyers are stepping in to prevent further declines. On the upside, resistance at $2.64 is limiting short-term recovery, keeping XRP within a compressed trading range. Analysts describe this as a phase of market compression, where short-term equilibrium forms between buyers and sellers.

Trading volume has normalized following previous spikes, signaling that the market is recalibrating. While momentum is currently low, the consolidation suggests that XRP could stabilize before the next directional move.

Broader Technical Patterns Remain Intact

Longer-term charts highlight continuing consolidation along a Fibonacci progression, with XRP moving between past accumulation and distribution phases. Despite the recent weekly drop, the cryptocurrency maintains its longer-term trajectory, having recovered to mid-range levels after earlier resistance tests in the year.

Also Read: Webus Launches XRP-Powered Travel Rewards Platform to Transform Loyalty Market

Interestingly, XRP is trading at 0.00002208 BTC, marking a 2.6% gain against Bitcoin. This shows that while the dollar-based price has corrected, capital flows between markets are still supporting XRP’s relative strength. Overall, technical indicators suggest that XRP is navigating the correction in alignment with broader market patterns.

Outlook: Caution and Opportunity

The near-term picture is cautious, with $2.45 acting as a critical floor and $2.64 as the ceiling for any short-term rally. Traders should watch for breakouts or breakdowns from this range, which could set the tone for the next phase of XRP’s price action. While volatility remains high, the current structure indicates potential for stabilization and measured recovery.

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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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