$XRP has slipped under the $3 threshold, marking a sharp 10% drop in the past week. The token now trades near $2.88, struggling under a descending trendline that has capped every rebound attempt. Both the 50-day SMA ($3.06) and 200-day SMA ($3.15) have turned into strong resistance, limiting upside recovery. On the downside, $2.80 stands as the immediate support, but if sellers push harder, the $2.50 zone could be the next major test.
XRP/USD 4-hour chart - TradingView
With the RSI at 39, XRP is showing weak buying momentum, keeping bears firmly in control. A move back above $3.00 would be required to signal early signs of recovery.
The broader crypto market has also been hit hard, with total market capitalization falling from $4.14 trillion to $3.79 trillion, erasing more than $350 billion in value.
A rejection at $4.14T resistance marked the start of the decline, which has since followed a descending trendline. Both the 50-day SMA ($3.91T) and 200-day SMA ($3.83T) are overhead hurdles, while the next strong support sits around $3.72T.
Total crypto market cap in USD - TradingView
The RSI near 41 confirms a bearish bias, suggesting further weakness unless buyers step in soon.
With XRP breaking below $3, bearish sentiment is now firmly in play. Traders are watching closely whether $2.80 can hold, as losing this support could accelerate the move toward $2.50.
Across the crypto market, reclaiming $3.9T in total capitalization is critical to avoid deeper losses. Until then, bears remain in charge, and altcoins like XRP are especially vulnerable.
