The cryptocurrency market has witnessed another turbulent session, with XRP plunging more than 9% amid a broader market downturn. The token, which is currently trading at $2.25, saw its one-day trading volume surge 139% to $8.33 billion, indicating increased investor activity. However, despite the heightened trading volume, bearish sentiment continues to dominate, with market analysts predicting further declines if critical support levels fail to hold.
XRP’s Next Move: Key Levels to Watch
Renowned crypto analyst EGRAG CRYPTO has identified crucial support and resistance levels that could determine XRP’s next price trajectory. According to EGRAG CRYPTO, the $2.30 mark is a pivotal support level. A break below this threshold could trigger a significant drop, with XRP potentially retracing to $1.60.
In a recent post on X, the analyst warned, “Our key focus now is not to drop below $2.30, as that could trigger a free fall to lower targets.”
#XRP – 12 Hour time Frame: (Updated):
— EGRAG CRYPTO (@egragcrypto) February 24, 2025
Take a look at the previous post from February 12, but I’ll simplify things for you! check the colored comment
The Updated Chart:
We closed above $2.60, which is a bullish sign! 🚀 However, we struggled to close above $2.85. Our key… https://t.co/nXkZQsgEnL pic.twitter.com/17Jx8j2j5a
EGRAG CRYPTO outlined the following price levels:
- Closing below $2.30: Bearish signal, increasing downside risk.
- Closing above $2.60: A bullish reversal may be in play.
- Closing above $2.85: A stronger bullish confirmation.
- Closing above $3.11: XRP could be heading towards new all-time highs.
With the Relative Strength Index (RSI) approaching oversold territory, some traders speculate that a price rebound could be imminent. However, broader market sentiment remains cautious, and XRP’s ability to hold above key levels will be closely monitored.
Market Trends & Whale Activity Impacting XRP
Despite Ripple’s continued progress and mainstream attention—including former U.S. President Donald Trump mentioning XRP on Truth Social—the market remains under pressure. Speculation surrounding a possible U.S. XRP Reserve has also fueled debates, adding to the ongoing BTC vs. XRP rivalry.
However, recent whale movements suggest a cautious approach from large investors. Over 81 million XRP tokens have been offloaded to exchanges, contributing to the token’s price decline. If whale sell-offs continue, further downward pressure could be expected.
Also Read: Federal Reserve Endorses BFT Consensus: A Game Changer for XRP, XLM, and HBAR
As the market awaits XRP’s next move, investors remain watchful of key levels that could determine whether the token stages a recovery or sinks further toward $1.60.
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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