- XRP has dropped below $3 again, continuing its bearish trend with potential support at $2.70 and $2.40.
- Whale selling of $700M in XRP signals more downside risk.
XRP is back below the key $3 level, currently trading around $2.94 after falling 3% in the past 24 hours. The recent drop signals a continuation of the bearish trend that began after last month’s double top near $3.65. With no clear signs of a reversal on the charts and whales offloading tokens, XRP could be headed for even lower levels.
Price Action Remains Bearish
Looking at the 4-hour chart, XRP is clearly forming lower highs and lower lows. This bearish structure suggests that the downtrend is still intact. If the token fails to hold support at $2.70—its recent local low—it could fall further.
Zooming out to the weekly chart provides a broader perspective. A key support level stands at $2.40, which now appears to be a likely target. Unless XRP can reclaim the $3 level and turn it into strong support, short-term recovery remains doubtful.
Whale Activity Fuels Selling Pressure
Beyond the charts, fundamentals are also weighing on XRP’s performance. Crypto analyst Ali reported on X that whales sold over $700 million worth of XRP tokens in a single day. Such significant selling from major holders often signals an expectation of further declines.
Whale behavior is a strong market indicator. When large investors exit positions, it often foreshadows deeper pullbacks. These entities typically re-enter at levels they’ve already identified—$2.40 seems to be one of those levels.
What’s Next for XRP?
The path forward for XRP depends on two major factors: whether the token can stabilize above $2.70 and if broader crypto market conditions improve. With bitcoin and ethereum also in a downtrend, XRP’s near-term recovery seems unlikely.
For now, traders and investors should watch for price action around the $2.70 and $2.40 levels. A clean break below these could open the door to more downside, while a sudden surge in volume or reversal signs might hint at a potential recovery.
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