XRP Drops Toward $2 Support Level as Downward Trend Continues

XRP has continued its decline against USDT, now trading around $2.30. Market analysts are monitoring the $2.00 level as a key support. According to data from TradingView, shared by market analyst Ali Martinez, XRP is in a continued downtrend.

The price has dropped from highs above $3.40 and now trades at approximately $2.2951. Martinez points to $2.00 as the next area of interest, indicated by chart projections.

Recent trading patterns suggest that XRP is moving within a descending triangle. This pattern, combined with bearish RSI divergence, indicates a potential further drop. Some analysts suggest a possible fall to the $2.08–$1.77 range. If XRP manages to break above $2.82, it may target the $3.10 level in the short term.

XRP has also fallen below its 200-day exponential moving average. This signals increased short-term selling activity. However, the RSI does not yet show overbought conditions, leaving room for potential upward movement if volume increases.

Long-Term Chart Analysis and Projections

Historical data from the 2017 bull run is being used to analyze current price behavior. According to analysts like ChartNerdTA, XRP may follow a similar path if macro patterns repeat. Fibonacci extensions show potential long-term price targets at $8, $13, and $27 by 2026.

The token remains supported by multi-year trendlines, which suggest the price is still within a long-term bullish structure. Despite the current drop, some traders are seeing this as a potential accumulation period. This is supported by historical fractals and support and resistance levels.

At $2.40, XRP has been above a major monthly EMA support, although recent movements now bring it close to that line. Trading volume during this dip has increased, often seen when large investors buy during corrections.

Key Levels to Watch

Analysts recommend closely monitoring resistance near $2.50 and support near $2.00. A clear break of either could set the next price direction. Long-term holders may also look at how XRP performs relative to historical fractals and volume shifts.

XRP’s price movement will also depend on external factors like regulatory updates and market sentiment. The coming weeks could determine whether XRP resumes a bullish trajectory or continues consolidating.