XRP Price Crash Risk Intensifies! Can the $2.00 Threshold Hold?

According to reports from May by the official account of Crypto King, XRP's recent price movements have issued clear warning signals. Although it once surged to $2.30, it failed to maintain the increase and has now retreated to around $2.00, with upward momentum sharply weakening. According to the 1-day chart released by Ali Charts, XRP has been in a downward channel for several months, with each breakout ending in failure. The recent rebound faced strong resistance in the $2.26 area and subsequently experienced a significant pullback.

Well-known analyst Ali pointed out that XRP is currently oscillating between the $2.00 and $2.26 range. If the price breaks through the boundaries of this range, it could trigger a new market trend. Currently, XRP is leaning towards a decline, especially with the bearish engulfing candlestick pattern appearing on the 3-day chart, suggesting a possible trend reversal. Additionally, the TD Sequential indicator has also given a sell signal.

If XRP breaks below the $2.00 support level, it may further test $1.95. If this level is breached, $1.80 and $1.61 will become the next important support levels. Traders need to pay special attention to the $2.26 resistance level; if it breaks and maintains above this price, it could still regain an upward trend in the short term. Otherwise, XRP's price may face a larger pullback.