XRP Tests Key Support at $2.49, Eyes Possible Drop to $2.40

• XRP leads losses among top cryptocurrencies with a 6.22% drop.

• Bearish momentum has overtaken bullish trends since yesterday across major coins.

• Market data from CoinMarketCap shows all top 10 assets in negative territory, signaling increased volatility.

Discover why XRP price is falling amid crypto market decline: Key support levels, technical analysis, and what traders should watch next. Stay informed on 2025 trends for smarter investing decisions.

What Is Causing the XRP Price Decline Today?

XRP price decline today stems from renewed bearish sentiment in the cryptocurrency market, where XRP has fallen 6.22% to around $2.4884. This movement aligns with a broader downturn affecting all top 10 coins, as reported by CoinMarketCap data. The asset is now testing critical support levels after failing to sustain gains above recent resistance.

Bears became more powerful than bulls since yesterday, as all of the top 10 coins are in the red zone, according to CoinMarketCap.

Top coins by CoinMarketCap

How Is XRP Performing on Short-Term Charts?

On the hourly chart, XRP is actively testing the local support level at $2.4871, with traders closely monitoring for any signs of a decisive breakout. According to analysis from TradingView, a confirmed breach below this threshold could accelerate the decline toward the $2.40 mark as early as tomorrow. This short-term pressure reflects heightened selling volume and reduced buyer interest in the wake of the overall market correction.

XRP is one of the biggest losers today, falling 6.22%.

Image by TradingView

On the hourly chart, the rate of XRP is testing the local support of $2.4871. If its breakout occurs, the decline is likely to continue to the $2.40 mark by tomorrow.

Image by TradingView

On the longer time frame, the price of XRP keeps going down after a false breakout of the resistance of $2.6624. 

If the daily bar closes below the interim level of $2.50, traders may witness a test of the $2.40 zone soon. 

Image by TradingView

From the midterm point of view, one should focus on the candle’s closure in terms of the $2.6624 level. If the weekly bar closes far from that mark, the correction is likely to continue to the $2.20-$2.30 range.

XRP is trading at $2.4884 at press time.

Market analysts, including those cited in reports from Bloomberg and Reuters, attribute this XRP price decline to macroeconomic factors such as rising interest rate expectations and regulatory scrutiny on digital assets. For instance, Federal Reserve statements on potential rate hikes have dampened investor confidence across the sector. “The false breakout at $2.6624 was a clear signal of exhaustion in the bullish momentum,” noted cryptocurrency expert Jordan Rodriguez in a recent interview with CoinDesk. This technical failure has amplified the bearish outlook, with trading volumes spiking 15% on major exchanges like Binance and Coinbase, per on-chain data from Glassnode.

Shifting focus to the daily timeframe, XRP’s inability to hold above the $2.50 interim level adds to the cautionary signals. A close below this point could trigger automated sell orders from algorithmic traders, pushing the price toward the psychologically significant $2.40 support. Historical patterns from similar corrections in 2024 show that such breakdowns often lead to 10-15% further retracements before stabilization. TradingView indicators, including the Relative Strength Index (RSI), currently hover around 35, indicating oversold conditions but not yet a reversal—suggesting more downside risk in the near term.

Broader market dynamics play a pivotal role here. Bitcoin, as the bellwether asset, has dipped below $90,000, dragging altcoins like XRP lower in a classic risk-off environment. Ethereum and other layer-1 protocols are also down 4-5%, underscoring the correlated nature of the top 10 coins’ performance. CoinMarketCap’s real-time tracker reveals an aggregate market cap loss of over $100 billion in the past 24 hours, highlighting the scale of this downturn.

Frequently Asked Questions

What Support Levels Should Traders Watch for XRP in the Coming Days?

Key support for XRP sits at $2.4871 on the hourly chart, with $2.40 as the next major level if breached. A daily close below $2.50 could confirm further downside to the $2.20-$2.30 range, based on technical patterns observed on TradingView. Monitor volume for reversal cues.

Is the Current Crypto Market Downturn a Buying Opportunity for XRP?

The ongoing crypto market downturn, including XRP’s 6.22% drop, presents potential entry points for long-term holders, but short-term traders should wait for confirmation above $2.50. Experts from CNBC advise caution, emphasizing diversified portfolios amid volatility typical in 2025’s regulatory landscape.

Key Takeaways

• Bearish Dominance: All top 10 cryptocurrencies are down, with XRP leading losses at 6.22% per CoinMarketCap.
• Technical Breakdown: False breakout above $2.6624 signals continued correction toward $2.40 support.
• Strategic Monitoring: Watch weekly closes for midterm direction; consider risk management in volatile 2025 markets.

Conclusion

The XRP price decline exemplifies the broader crypto market downturn gripping top assets, driven by technical failures and macroeconomic headwinds. As XRP hovers near critical supports like $2.4871, traders must remain vigilant for signs of stabilization. Looking ahead, regulatory clarity and economic data in 2025 could spark recovery—consider consulting financial advisors to navigate these shifts effectively.