XRP Price Breaks Below $3: Is $2 the Next Stop?

XRP has hit a rough patch this week, breaking through what many considered rock-solid support at $3. With the token now sitting around $2.90, crypto traders are starting to wonder if this is just the beginning of a deeper slide. The big question on everyone's mind: could we actually see XRP test the $2 level?

XRP Price Loses $3 Support as Bears Take Control

XRP has dropped to $2.90994, officially breaking below that crucial $3 mark that had been holding things together for a while. This wasn't just any old support level either – it had been acting like a pretty reliable floor during XRP's recent run-up past $3.50.

Now we're seeing the aftermath of what looks like a proper multi-day pullback, and honestly, it's not looking great for the bulls right now. According to a trader's analysis shared on Twitter, the next zone everyone's watching is that $2.55–$2.62 area. That's where we might see some buyers finally step up to the plate.

But here's the thing – if that level doesn't hold, we could be looking at something much worse. Some of the more bearish analysts are actually throwing around the possibility of XRP hitting $2, which would represent a pretty brutal 30% drop from current levels. That's the kind of move that would really shake out a lot of holders.

Technical Signals Point to More Pain Ahead for XRP

The charts aren't doing XRP any favors right now. The MACD is telling a pretty clear story with a bearish crossover that's hard to ignore. We're looking at a MACD line sitting at –0.08193, while the signal line is up at 0.14746, and that histogram has gone full red. For anyone who follows these indicators, this basically screams weakening momentum.

What makes things even trickier is what's happening on the weekly timeframe. There's this bearish divergence showing up that experienced traders know can be a real problem. Add to that the fact that Bitcoin dominance is climbing, and you've got yourself a pretty toxic environment for altcoins like XRP.

Historically speaking, when you get this combination of technical weakness and Bitcoin sucking up all the attention, altcoins tend to get hammered pretty hard. The tweet mentioned that unless XRP can somehow pull itself together and get back above $3 quickly, August could be a really rough month for holders.

The bottom line? XRP needs to prove it can reclaim that $3 level, and fast. Otherwise, that $2.55–$2.62 zone is going to get tested sooner rather than later, and if that breaks too, well... $2 might not be such a crazy target after all.