XRP declines, is support in danger?
Recently, XRP triggered $1.5 billion in liquidations due to large-scale market sell-offs, with the price breaking below the critical support level of $2.81. Although the approval of Hashdex XRP ET* brought positive news, traders took profits, causing XRP to still decline over 9% in seven days.
From a technical perspective, XRP has entered a clearly bearish zone: the RSI has dropped to 29.24, though it is oversold, there are no signs of stabilization; $2.71 has become a key short-term support, and if it fails, it could accelerate the decline towards $2.55.
Overall, the long-term benefits of the ETF are not enough to offset short-term selling pressure. If market sentiment does not recover quickly, XRP may continue to face pressure on the $2.71 defense line.
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