XRP Price Dips Below $2.40 After Sharp Sell-Off

After several days of relative stability, XRP (Ripple) faced renewed downward pressure, sliding below the key $2.40 level in early trading. The move reflects growing short-term weakness across the altcoin market as traders take profits following recent rallies. The decline comes amid a broader slowdown in crypto momentum, suggesting a temporary cooling period before the next directional move.

XRP Chart Shows Clear Downtrend

According to trader STEPH IS CRYPTO, the 15-minute chart from BloFin illustrates a persistent downtrend over the past trading session.

XRP's price steadily declined from an intraday high of $2.55 to a low near $2.38, with only brief pauses in selling momentum. Consecutive red candles dominate the pattern, signaling strong bearish control and limited recovery attempts.

Current metrics show:

• 24h High: $2.5538
• 24h Low: $2.3864
• Current Price: $2.3995
• 24h Volume: 30.1M XRP
• Funding Rate: 0.0128%

The structure indicates that the $2.40 level, once a reliable short-term support, has now flipped into resistance. If the price fails to reclaim this zone, XRP could continue drifting toward the next technical target between $2.35–$2.30, where prior consolidation occurred.

Market Context: A Pause in Momentum

Despite the decline, the funding rate remains low, showing that this move is driven more by spot selling than leverage liquidation. This points to natural profit-taking after XRP's recent rally above $2.50. Across the broader crypto market, similar pullbacks are visible, with traders shifting focus to Bitcoin and stable assets as volatility returns. The low funding data implies that traders are being cautious rather than overly speculative, typical behavior during early corrective phases.

Key Support Zone to Watch

The $2.35–$2.38 range is now critical support to monitor. Holding this level could stabilize XRP and allow for a rebound attempt toward $2.45–$2.50. However, if the decline extends below $2.35, it could signal deeper consolidation, possibly revisiting the $2.25 region in the short term. Momentum indicators and volume readings suggest that sellers are currently dominant, though a relief bounce is possible once short-term oversold conditions emerge.