Usman Salis
Crypto markets rarely move in straight lines, and XRP (Ripple) latest plunge is a reminder of how quickly sentiment can shift. After a strong rally that lifted prices from just $0.53 earlier in the year to peaks near $3.00, XRP fell sharply to $2.37, leaving many traders rattled. The decline, however, also shows the resilience of long-term holders who view pullbacks as part of a larger bullish cycle.
XRP Faces Heavy Sell-Off
XRP experienced intense volatility as profit-taking and leveraged liquidations drove prices lower. Market commentator JackTheRippler captured the mood in his post: "Leave a like if you survived the bloodbath!" - a signal of both stress and perseverance among XRP supporters.
The correction follows months of solid performance, with XRP still boasting a 342% annual gain and a 148% rise against Bitcoin. Despite the sharp pullback, the question now is whether key support zones can hold the line.
Chart Analysis: XRP/USDT
The one-year chart confirms the scale of the correction:
- Price: XRP trades at $2.37
- Support: First support lies near $2.00–$2.10, while stronger structural backing sits around $1.60
- Resistance: Bulls must reclaim $2.70 and $3.00 for momentum to return
- Trend: Despite volatility, the broader trend since the $0.53 base remains positive
The chart shows repeated cycles of rally and correction, suggesting this pullback may be another step in a longer bullish structure.
Why the Drop Happened
The sell-off was driven by profit-taking after XRP's strong multi-month surge, combined with macro uncertainty tied to interest rates and broader risk-off sentiment. High leverage in the market triggered cascading liquidations, amplifying the downward pressure.
What's Next for XRP
If XRP holds above $2.00, bulls could regain control and push prices back toward $2.70 and $3.00. On the flip side, losing the $2.00 support would open the door for a deeper decline toward $1.60, where stronger buyers may step in.
Usman Salis
