- XRP fell below $2 despite a surge in Ledger activity, showing over 452K active addresses
- Trading volume is up big, but open interest and funding rates suggest market caution
- Key resistance at $2.08–$2.20 could decide whether XRP bounces back or drops to $1.77
So, XRP finally dipped below the $2 mark on Sunday — breaking a 12-week streak where it managed to hold above that level. The drop’s been rough, especially with the whole crypto market looking a bit shaky. But here’s the twist: even while the price dipped, activity on the XRP Ledger actually exploded. Over 452,000 addresses were active — the highest we’ve seen since March. Odd, right? Loads of users, but price? Still slouching.
According to analyst Versan Aljarrah from Black Swan Capitalist, the fall wasn’t really XRP’s fault per se. He blames it more on the grim vibe hanging over the market lately. Basically, it’s not that XRP is broken—it’s just stuck in a market funk.
Technicals Look Weak, But Volume’s Heating Up
Back in April, XRP had fallen to about $1.60, but it bounced and held above $2 for a good while. That support just gave way. Right now, the price sits under a bearish trendline, and the next hurdle seems to be around $2.05. If it manages to clear that, we might see it testing $2.11… maybe even $2.15.
Volume-wise, though, things are buzzing. Coinglass data shows XRP’s trading volume shot up by more than 59%, landing at $9.21 billion. But here’s the catch—open interest actually dropped a bit, by 1.7%, to $3.55 billion. Which kinda screams cautious optimism… but heavy on the cautious.
Also, the funding rate’s sitting at just 0.0019%. That’s basically the market saying “meh” — it’s calm, maybe too calm.
Liquidations Pile Up as Traders Get Caught Off Guard
In the past 24 hours, liquidations hit $21.37 million. Longs took the biggest hit—$17.7 million worth—while shorts lost around $3.67 million. What that tells us is XRP’s still pretty reactive to broader crypto swings. If the whole space keeps wobbling, it’s hard to see XRP breaking out of the pressure.
EGRAG Crypto, another analyst with a solid following, recently dusted off an old chart and gave his thoughts. He pointed to what he calls the “white box” — a key support zone that might give XRP a floor to bounce off. But he also said keeping the price above $2.20 is essential. Lose that level, and things could slide toward $2.08… or lower, even down to $1.90.
Can XRP Flip the Script?
So, where’s this all headed? EGRAG laid out two paths. If XRP fails to break above $2.08 soon, we might see it just drifting lower — maybe to $1.90 or $1.77 before anything exciting happens. On the flip side, if it manages a strong close above $2.08 (especially on a 12-hour chart), that could mark the start of a bullish reversal.
At the end of the day, XRP’s future is kind of stuck in limbo right now. It all hinges on whether it can beat key resistance levels. Get above that $2.08 line, and we could be off to the races. But if it stalls out again? Well, we’re probably in for more sideways pain.
