XRP is currently trading at $2.88, recording a noticeable decline of -6.2% over the last 24 hours, with a total market capitalization of around $171 billion, while the daily trading volume is about $6.7 billion, reflecting continued liquidity strength and trader presence despite recent selling pressure.
The overall situation that led to this saw XRP experiencing strong selling pressure in the past hours, with whales dumping over 460 million XRP. Additionally, the SEC's delay of the ETF decision until October 2025 has created a state of anticipation among investors and increased negative pressure on the price. Despite these updates, trading volume remains high, confirming that interest in the currency has not waned.
Technical indicators:
The Relative Strength Index (RSI) is moving towards oversold areas, indicating the possibility of a short-term rebound.
The moving average (MA) shows the price below the 50-day moving average, reflecting the dominance of the downward trend in the short term.
The MACD indicator has given a negative signal by cutting the signal line downwards, reinforcing the likelihood of continued decline.
Support and resistance levels: The first support is at a relatively low level from $
2.70. Holding above it is important to avoid a deeper drop, and the second support is at $2.30, a strong rebound area in case the first support is broken.
The first resistance is at $3.05; surpassing it opens the door to return towards $3.3, and the second resistance is at $3.5. Breaking through it will be a strong signal to resume the rise.
Short-term forecasts indicate a downward trend below the $3 level, but a corrective rebound is possible if the $2.7 support holds. In the medium term, any positive news regarding ETF funds could push the price to test $3.5 again, and in the long term, stability above $4 will serve as a new launch towards $5 - $6.
In summary, despite the recent drop, XRP remains a cryptocurrency with strong liquidity and noticeable trading momentum. The $2.7 area is considered the primary defense line, and any rebound from it could present a good opportunity for traders looking for new positions.
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