Will XRP Price Fall Toward $2 or Rebound From Support?
XRP continues to trade under pressure, slipping to $2.77 on Monday, down nearly 1.8% in the last 24 hours. The altcoin remains in a downtrend, with technical and on-chain indicators suggesting the risk of a further sell-off if key support levels fail.
Investor Sentiment Turns Cautious
The broader crypto market has entered a risk-off phase, with the Crypto Fear & Greed Index falling to 46 (“fear”), down from “neutral” a week ago and “greed” just one month earlier. This shift in sentiment is mirrored in XRP’s network activity. Active wallet addresses on the XRP Ledger (XRPL) dropped sharply from 50,000 in mid-July to around 19,250, signaling reduced demand and weaker participation.
Open interest in XRP futures also fell to $7.7 billion from nearly $11 billion, further highlighting declining investor conviction and raising the odds of more downside.
$2.70 Support Key for Next Move
From a technical perspective, XRP has been consolidating inside a descending triangle since peaking at $3.66 in July. This bearish pattern typically resolves with a break below support, which in this case sits at $2.70.
If bulls defend $2.70 successfully, XRP could rebound toward $3.09—the confluence of the triangle’s resistance line, the 50-day moving average, and the 0.618 Fibonacci retracement level. A breakout above this zone could reignite bullish momentum and push the price toward $3.70.
However, losing the $2.70 support would likely trigger deeper losses. The next demand zone lies between $2.60 (100-day SMA) and $2.48 (200-day SMA). A breakdown here could open the door to $2.08, marking a 25% decline from current levels.
What’s Next for XRP?
The liquidation heatmap shows buyers defending the $2.70 zone, while significant sell orders are stacked between $2.87 and $3.74. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator is signaling a potential bearish crossover in September, which could drag XRP closer to $2.17.
In short, XRP’s immediate outlook hinges on whether bulls can hold the $2.70 support. A rebound could spark a rally back above $3, but a breakdown risks a slide toward $2.
