Home – Ripple News – Holding the Line or Breaking Down? XRP Fights to Defend $2.70 Support
TL;DR
XRP trades at $2.70 after falling 4.7% in the last 24 hours and accumulating weekly losses near 10%, erasing almost $19 billion of its market value.
The correction takes place amid massive crypto market sell-offs, with over $1 billion in global liquidations and Bitcoin falling below $109,000, dragging Ethereum down to $3,800.
Ripple’s token lost the psychological $3.00 support and now faces pressure around $2.80, with $2.70 as a critical level to watch. Breaching these levels reflects a wave of institutional selling and whale transactions that intensified the downward momentum. Recent reports indicate transfers of around 160 million XRP, equivalent to nearly $500 million, which deteriorated market sentiment and halted the momentum that had driven the cryptocurrency to monthly highs in early September.
XRP’s weakening cannot be explained solely by internal factors. The Federal Reserve reiterated that inflation remains a challenge and that significant rate cuts are unlikely in the short term, reducing appetite for risk assets. At the same time, rising U.S. Treasury yields diverted capital to safer instruments, accentuating the liquidity outflow from the crypto market.
On the technical side, the RSI dropped below 38, near oversold territory, while the MACD reinforces the bearish trend. Analysts warn that a clear break of $2.70 could open the door to deeper declines, although a rebound from these levels would indicate exhaustion in selling pressure and could enable a recovery toward $3.00.
The pullback has not been halted despite progress in Ripple’s ecosystem. The company launched the stablecoin RLUSD, deployed an Ethereum-compatible sidechain, and surpassed 7 million active wallets on the XRP Ledger. Additionally, the SEC approved the first XRP ETF in the United States, strengthening its institutional presence.
However, these initiatives have not yet reversed the negative sentiment dominating the market. The token’s performance in the coming weeks will depend on Bitcoin, which faces $23 billion in options expirations and could set the sector’s direction. If the leading cryptocurrency stabilizes, XRP could regain ground; otherwise, the risk of a sustained drop below $2.70 remains
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