XRP Slumps 3% as Sellers Breach Key Support Zone

XRP tumbled 2.7% over the past 24 hours, sliding to $2.20 after breaking below crucial support near $2.21, as a spike in sell volume overwhelmed buyers. The sharp move wiped nearly $6 billion off the token’s market cap and extended its weekly loss to over 9%.

A surge in trading activity between 01:45 and 01:50 UTC saw XRP fall from $2.269 to $2.190, confirming downside momentum as price action followed a descending channel structure.

🔍 Key Technical Levels:

• Resistance: $2.265–$2.270
• Short-Term Support: $2.10–$2.15
• Breakdown Trigger: $2.204 breach on above-average volume
• Volume Spike: Over 1.2M XRP during the drop

Despite the pressure, some traders are eyeing a double-bottom setup around $2.19–$2.20, following a slight bounce to $2.208 backed by growing volume.

Meanwhile, open interest in XRP perpetual futures climbed to over $4 billion, suggesting traders are preparing for increased volatility in either direction.

On the fundamental side, Ripple’s broader strategic moves—including plans for a real-world asset tokenization pilot in the UAE and a new XRP-backed stablecoin (RLUSD)—remain long-term tailwinds, but aren’t enough to offset short-term technical weakness.

📉 For now, momentum favors bears unless XRP reclaims the $2.25–$2.27 zone with conviction.