Why is XRP down today?
XRP struggles below $2.20 as key resistance zone holds
XRP is attempting to stabilize around $2.15 after facing strong rejection from the $2.33–$2.35 resistance zone earlier this week.
The asset found critical support between $2.08–$2.10, aligning with both a long-term ascending trendline from April and the 0.382 Fibonacci retracement level on the weekly timeframe. This support zone has momentarily paused the selling momentum. On the 4-hour chart, both the RSI and MACD are beginning to recover from oversold territory, hinting at a possible short-term relief bounce. However, for a clear trend reversal, bulls must push the price back above the $2.23–$2.26 resistance corridor.
Why XRP price is down today: technical and market-driven triggers
XRP’s latest slide began with a technical rejection at the descending trendline that has suppressed price advances since late May. The failure to hold above $2.20 triggered cascading stop-loss orders and contributed to the sharp drop toward $2.10. Broader altcoin weakness also compounded the decline, reflecting a general risk-off mood in the crypto market.
If XRP breaks below $2.08, the next support targets lie at $2.00 and then $1.92, the latter corresponding to the 0.618 Fibonacci retracement from the November 2024 low to the 2025 high. A rebound from here would likely face resistance at $2.18 before bulls can challenge the $2.26 barrier again.
Anton Kharitonov’s key bearish catalysts
Analyst Anton Kharitonov highlights several macro and structural factors driving XRP’s current weakness. First, heightened geopolitical tensions, particularly the recent Israel-Iran escalation, have made investors wary of high-volatility assets like XRP. Second, regulatory uncertainty has taken a toll—especially the SEC’s ongoing delay in approving a spot XRP ETF, which has eroded investor optimism.
Kharitonov says:
“Despite the decline, XRP looks better than most altcoins. I expect it to grow by at least 20% by the end of the month.”
Additionally, on-chain data reveals a drop in XRP Ledger network activity, including a decline in active wallets and transactions. This is paired with whale selling pressure, as large holders have moved sizable amounts to exchanges. Lastly, technical patterns such as descending triangles are flashing continued bearish momentum, making any bullish recovery difficult in the near term.
Recently we wrote that XRP is attempting to stabilize after a sharp decline from the $2.33–$2.35 range, with price action now consolidating around $2.13.
