- Massive daily decline
- XRP rapid recovery
The price action of XRP has entered a period of unrelenting decline, and the asset is currently in what can only be called free fall. The market structure has totally collapsed, and there are no significant support areas left between the current levels and the psychological threshold of $1.00, which may soon be reached if selling pressure persists.
Massive daily decline
Right now, XRP is trading at about $2.23, which is one of its most aggressive multi-day declines in months. Since Oct. 1, the asset has lost almost 25% of its value, dropping below its major support levels, which were the 50-, 100- and even 200-day moving averages. It is clear from this cascade through long-term trend lines that bearish momentum has solidified.
The collapse quickened after XRP broke through $2.50, a crucial level that had offered stability during previous declines. Below that, there is little historical liquidity until much lower ranges, making the chart practically unexplored for bulls. Forced liquidations and panic selling, which are classic signs of capitulation phases, are evident in the sharp volume spike that accompanied the initial crash.
The bearish argument is strengthened by the deep weakness displayed by momentum indicators. Near 29, which technically indicates oversold conditions but also represents exhaustion with no indications of a reversal, is the Relative Strength Index (RSI). Prior to any significant recovery, this type of momentum collapse frequently results in protracted downtrends or grinding price action, particularly after losing structural support.
XRP rapid recovery
The path of least resistance is still downward unless XRP can swiftly recover the $2.60-$2.70 region. Considering the severity of the sell-off, even the next possible demand zone, which is located between $1.80 and $1.90, appears precarious. A complete retest of the $1.00-$1.20 range, which was last seen prior to the midyear rally, is looking more likely.
XRP’s market has simply run out of floors. There are no immediate catalysts or support levels to halt the price’s decline — it is happening naturally. At $1, XRP no longer seems far-fetched — rather, it appears to be the sensible next step, barring an improbable spike in volume or outside market relief.