XRP Plunges 8% as Fed Shock and Bitcoin Weakness Combine to Break $2.46 Floor
The breakdown was accompanied by outsized volume, with a peak around 392.6 million tokens — nearly 400% of its daily average
The chart structure shows a clear bearish breakdown from an ascending or neutral consolidation pattern.
Support at ~$2.46 gave way, turning into resistance. Momentum indicators (e.g., RSI and MACD) point to weakening conditions and a confirmed sell-signal scenario.
The volume profile — with the extremely high spike during the fall and muted recovery volume afterward — suggests distribution (selling) rather than healthy accumulation.
Key levels now to monitor are resistance near ~$2.46–$2.50, and downside targets in the range of ~$2.30–$2.40 if the current support breaks.
What Traders Should Know
Traders should treat current levels with caution. A sustained bounce above ~$2.50 may offer relief, but the confirmation of the breakdown means the bears currently hold the edge.
If XRP fails to reclaim the ~$2.50–$2.46 zone, the path toward ~$2.30 or lower becomes higher probability.
On-chain whale flows and futures open interest (which may show further weakening) should be monitored closely as additional confirmation of structural risk.
Macro-tailwinds (trade news, regulatory developments) can still trigger relief rallies, but the technical framework currently favours a continuation of weakness until meaningful support is rebuilt.
