XRP has come under pressure after slipping below key support levels. The recent drop adds to ongoing concerns about a deeper correction toward the $1 area. Analysts are watching current price action as volume rises and technical indicators weaken.
Breakdown Signals and Volume Spike
XRP is trading around $1.88 after falling through the $1.93 support zone, which now acts as resistance. The move comes with a nearly 6% drop over 24 hours and a weekly loss of over 8%. Trading volume jumped more than 87% in a single day, now above $3.6 billion. This increase suggests stronger activity from larger players or wider repositioning.
Crypto analyst Cheds Trading warned that XRP may be forming a high-time frame topping pattern. He described it as a “rounding top or M with higher high,” and added,
“Measured move to roughly MA 200 area/$1.00 range.”
XRP has also fallen below the 8 EMA, 34 EMA, and 50 SMA on the weekly chart, indicating weakness in the trend.
Meanwhile, the weekly Bollinger Bands are starting to widen, while the price remains below the midline. With XRP unable to stay above $2, momentum remains on the downside. If $1.75 fails to hold, the 200-week moving average near $1.07 becomes the next area to watch.
Ali Martinez flagged $1.92 as the level to hold. XRP has consistently printed lower highs and lower lows since its July peak at $3.65, showing no signs of reversal so far.
“$1.92 is the level $XRP must hold to avoid a drop to $1,” he said.
In addition, the 4-hour chart from ChartNerd shows XRP inside a descending channel. Price is now testing the lower edge of the range near $1.87–$1.90, overlapping a demand zone. ChartNerd noted, “$XRP LTF PA unfolding as expected,” hinting at a possible bounce.
Whale Selling and Short Positioning
Ali reported that 1.18 billion XRP has been sold by large holders over the past four weeks, with 280 million tokens sold in the last week alone. CryptoPotato also reported over $1 billion in XRP sold by large holders. This increased distribution adds to the selling pressure seen across recent sessions.
Niels pointed out that downside liquidity “has been completely taken out,” and noted that funding rates across exchanges have turned negative. He said that this kind of short-heavy market could “start a squeeze” if any upside momentum returns.
Despite inflows into spot ETFs, XRP underperformed compared to other major tokens. The price movement appears driven more by technical selling than new developments.
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