XRP has dropped below the $2.00 psychological barrier, currently trading at $1.96 amid broader market pressures. The decline was triggered by President Trump’s announcement of new tariffs on the European Union, leading to a risk-off sentiment in financial markets. XRP’s price has broken through critical support levels, indicating a bearish trend, with potential further declines if key support zones are not maintained. Large investors are moving significant amounts of XRP to exchanges, suggesting profit-taking after a substantial price increase earlier this year.
From a technical point of view, XRP has broken through a number of important support levels that had been keeping selling pressure at bay. The asset temporarily dropped to $1.847 before rising back to its current level of approximately $1.96. XRP is now trading well below its 200-day Exponential Moving Average of $2.35, which means that sellers have taken control of short-term momentum. The 100-hour Simple Moving Average has been lost.
The 14-period Relative Strength Index is at 45.25, which means the market is neutral to negative. The 7-day RSI, on the other hand, is at 35.79, which means the market is oversold. The MACD indicator has printed a bearish crossover below its signal line, which is usually seen as a sell signal. This breakdown also made an ascending triangle pattern that had been bullish and showed more upside potential invalid.
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