Will XRP Price Drop Toward $2 or Reverse Higher? Market Signals Explained
XRP traders are facing a big question right now: will XRP price drop toward $2 or reverse course after its recent stumble near the $3 mark?
With the crypto market under pressure from broader sell-offs, XRP has slipped into a consolidation phase. The coin is currently trading around $2.88, with intraday action showing hesitancy between bulls and bears.
The Double-Top Warning
Technical analysts are pointing to a double-top pattern that formed near $3.10. Historically, this pattern signals exhaustion in buying pressure and the potential for a downward correction.
Key takeaways from the daily chart:
- Resistance: $3.05–$3.10 remains a stubborn ceiling.
- Immediate support: $2.80, followed by a critical zone near $2.40–$2.50.
- Bearish scenario: If selling intensifies, XRP could test the $2 level, which would mark a 30% correction from recent highs.
Macro and Market Sentiment
XRP’s short-term direction isn’t just about charts—it’s also about sentiment. Recent macro pressures have weighed heavily on crypto assets:
- Bitcoin’s volatility near $113K has pulled altcoins down.
- ETF outflows drained nearly $1 billion from BTC and ETH markets, sparking broader de-risking.
- Fed policy uncertainty looms as Jerome Powell’s Jackson Hole remarks could sway risk appetite.
These factors make XRP especially vulnerable to another dip if traders continue shifting into cash or stable assets.
Reasons for Optimism
Still, XRP bulls aren’t backing down completely. Several factors suggest a possible rebound rather than a deeper slide:
- Community resilience: Despite regulatory battles, XRP has survived thanks to its loyal base.
- ETF chatter: Amplify and other issuers are considering XRP ETFs, which could drive institutional demand.
- Higher lows: Even during pullbacks, XRP has managed to hold above critical long-term support zones.
If buyers step in near $2.50, a reversal could send XRP back above $3 and potentially retest $3.20.
What Analysts Are Saying
Market watchers remain split:
- Bearish camp: Caution that XRP’s double-top pattern could spark a sharp correction to $2 before stabilization.
- Bullish camp: Argue that the dip is temporary and that once ETF-driven uncertainty fades, XRP could rally to new yearly highs.
Javon Marks, a well-followed analyst, recently suggested that XRP could still push above $4 in the coming months—if it avoids losing the $2.50 support.
Key Levels to Watch
- $2.80 – Current short-term support
- $2.50 – High-risk pivot zone
- $2.00 – Psychological floor
- $3.10 – Breakout point for bulls
Bottom Line
So, will XRP price drop toward $2 or reverse course? The next few days will likely provide the answer. Traders should brace for volatility as XRP wrestles with bearish patterns and macro headwinds. If it holds $2.50, a bullish reversal is still on the table. But if selling intensifies, a retest of $2 seems increasingly possible.
For now, XRP is balancing on a knife’s edge.
